Cencosud Shopping (CENCOMALLS) Acquisition presentation summary

Acquisition overview

• Agreement signed to acquire 100% of Makro S.A. and Roberto Basualdo S.A., adding 28 stores in Argentina (24 owned, 4 leased).

• Makro operates in 12 cities and 10 provinces, offering food and non-food products with strong private label brands.

• Basualdo specializes in wholesale cleaning and personal care products, present in four provinces.

• Enterprise value of the transaction is USD 122.5 million, subject to adjustments; companies have no bank debt.

• Combined LTM sales for Makro and Basualdo are approximately USD 450 million.

Operational footprint and assets

• The acquisition brings a total sales floor of about 145,000 sqm across 28 stores.

• Approximately 160,000 sqm of idle land included, offering future development or leasing opportunities.

• Stores are geographically diversified across key provinces, enhancing national presence.

Strategic strengths and synergies

• Makro is a leading Cash & Carry operator, focusing on HORECA, professional clients, and end consumers.

• Transaction financed with internal resources, ensuring financial flexibility.

• Prime store locations in high-density areas and a robust private brand portfolio with strong loyalty.

• Synergies expected in logistics, systems, back-office, and product assortment.