• Consolidated online sales grew 14.6%, with double-digit growth in five of the countries where Cencosud operates. Prime loyalty program subscribers increased 31.3%, while private-label sales grew 4.9%. At the same time, the Company advanced strategic acquisitions in Brazil and Colombia and strengthened its value proposition through new store openings and the development of innovative formats in Chile.
• Net Income for the quarter was negative CLP 18,074 million, mainly impacted by non-operating factors, including CLP 53,083 million associated with inflation-indexed debt, CLP 5,279 million from foreign exchange effects and CLP 1,433 million related to asset revaluations.
• Adjusted EBITDA for the quarter was impacted by more moderate consumption across the region. At the operating level, the Company continued to demonstrate resilience and profitability improvements across most of its markets.

Cencosud reported its results for the second quarter of 2026, a period in which it continued to advance its multiformat omnichannel ecosystem strategy. During the quarter, the Company recorded double-digit growth in online sales, continued to strengthen its loyalty programs and reached a record 31 million active loyalty customers across the region. The Company also continued to expand its private-label offering, advanced strategic acquisitions in Brazil and Colombia, and launched new formats and store openings in Chile.

The Company also made progress in unifying platforms, processes and technology, while implementing a new organizational structure designed to accelerate innovation, enhance productivity and capture synergies to support future growth across all markets.

In financial terms, during the second quarter Cencosud recorded Revenue of CLP 4,094,746 million (USD 4,552 million), in an environment characterized by intense competition, adverse foreign exchange effects and the sale of non-strategic assets (service stations in Colombia and Bretas supermarkets in Minas Gerais). During the quarter, the Company delivered solid sales growth in Peru, increased its supermarket market share in Argentina (+50 bps) and recorded resilient performance in Chile.

Digital and loyalty capabilities continued to support Cencosud’s growth. Online sales increased 14.6% year over year, raising online penetration to 12.2% of consolidated sales, with double-digit growth in five of the six countries where the Company operates. In June, supermarket e-commerce market share gains were particularly noteworthy in Argentina (+2.1 p.p.), Chile (+1.6 p.p.) and Colombia (+0.5 p.p.). At the same time, subscribers to Prime loyalty programs increased 31.3%, further establishing these programs as a differentiated customer value proposition and an effective tool to drive loyalty and strengthen business profitability.

Adjusted EBITDA for the quarter totaled CLP 307,898 million (USD 342 million), including accounting and foreign exchange effects associated with Argentina, in a context of more moderate consumption across the region. At the operating level, the Company continued to demonstrate resilience and profitability improvements across most of its markets.

Net Income for the quarter was negative CLP 18,074 million (negative USD 20.1 million), mainly impacted by non-operating factors. These included higher costs associated with inflation-indexed debt (UF-denominated debt) and the impact of foreign exchange movements. The quarter also included CLP 17,038 million (USD 18.9 million) in extraordinary expenses related to productivity programs. Despite these impacts, Cumulative Net Income for the first six months of the year reached CLP 84,070 million (USD 94 million).

In terms of growth and expansion, Cencosud announced the acquisitions of Makro in Colombia and St. Marché in Brazil, reinforcing a strategy focused on formats in which the Company has competitive advantages, operating expertise and the ability to generate long-term profitability. During the quarter, Cencosud also continued to advance its organic growth initiatives. It opened the first three Don Salva stores in Chile, marking its entry into the discount format, and announced the opening of four new Santa Isabel stores in Chiloé Island and Calbuco, strengthening its presence and coverage in southern Chile.

“This quarter, we made meaningful progress on strategic priorities that support Cencosud’s growth and profitability, including the development of our omnichannel ecosystem, the expansion of our loyalty programs and the execution of acquisitions in Brazil and Colombia. We remain focused on strengthening our commercial value proposition and capturing profitable growth opportunities across the markets in which we operate,” said Rodrigo Larraín, CEO of Cencosud.

Results by country

Argentina continued to improve the profitability of its operations despite a still-challenging consumption environment. Excluding extraordinary effects associated with the productivity strategy and the impact of increased risk in the financial services business, Adjusted EBITDA grew 39.1% in local currency, outpacing inflation. The Supermarkets business performed particularly well, with Adjusted EBITDA increasing 105.7%, supported by operating efficiencies, online channel growth and greater penetration of private-label and imported products.

Brazil continued to make progress in improving the profitability of its supermarket operations. Excluding extraordinary effects associated with the 2025 sale of Bretas in Minas Gerais, Adjusted EBITDA in the Supermarkets business grew 8.1% in local currency, reflecting sustained improvement in operating profitability. The Company also advanced the renovation of 19 stores and announced the acquisition of St. Marché, a premium format in which Cencosud has a proven track record and demonstrated value-creation capabilities in other markets across the region.

Colombia was another standout market during the quarter, with Adjusted EBITDA nearly doubling, increasing 92.9% in CLP and 73.8% in local currency. The improvement reflected progress in productivity and operating efficiency, with expenses growing below inflation, as well as the consolidation of Plaza Central and progress in the sale of service stations.

Chile delivered resilient performance in a highly competitive environment. Revenue remained stable during the quarter, supported by growth in Supermarkets, Home Improvement Stores and Shopping Centers. In Supermarkets, Chile continued to strengthen its competitive position, increasing market share by 100 bps during the first half of the year and maintaining a double-digit EBITDA margin for 27 consecutive quarters.

Peru maintained solid growth and profitability during the quarter. Adjusted EBITDA increased 11.8% in local currency, outpacing revenue growth of 6.4%, reflecting strong operating performance in the supermarket business, improvements in commercial efficiency and the continued contribution from Shopping Centers.

About Cencosud

Cencosud, whose purpose is to serve extraordinarily at every moment, is one of the largest and most prestigious retailers in the Americas. It operates in six countries, with more than 115,000 employees, 1,367 retail stores representing more than 3.5 million m² of sales area, and 69 shopping centers with more than 2.4 million m² of gross leasable area (GLA). Its multiformat strategy encompasses Supermarkets, Home Improvement Stores, Department Stores, Shopping Centers and Financial Services. The Company also develops innovative business lines such as Cencosud Media and Private Labels, leveraging technology to enhance the customer experience.

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