Exhibit 99.5

 

Grupo Éxito Financial Results 2Q/1H25 August 14, 2025 “ The Issuers Recognition - IR granted by the Colombian Stock Exchange is not a certification about the quality of the securities listed at the BVC nor the solvency of the issuer”.

 

 

2 Note on forward looking statements • T h i s d o c u m e n t c o n t a i n s c e r t a i n f o r w a r d - l o o k i n g s t a t e m e n t s b a s e d o n d a t a , a s s u m p t i o n s , a n d e s ti m a t e s , t h a t t h e C o m p a n y b e l i e v e s a r e r e a s o n a b l e ; h o w e v e r , i t i s n o t hi s t o r i c a l d a t a a n d s h o u l d n o t b e i n t e r p r e t e d a s g u a r a n t e e s o f i t s f u t u r e o c c u r e r n c e . T h e w o r d s “ a n t i c i p a t e s ” , “ b e l i e v e s ” , “ e s t i m a t e s ” , “ e x p e c t s ” , “ p l a n s ” a n d s i m i l a r e xp r e s i o s n s , a s t h e y r e la t e t o t h e C o m p a ny , a r e i n t e n d e d t o i d e n t f y f or w i ard - l o o k i n g s t a t e m e n t s . S t a t e m e n t s r e g a r d i n g th e d e c l a r a t i o n o r p a y m e n t o f d i v i d e n d s , t h e i m p l e m e n t ati o n o f p r i n c i p a l op e r ati n g a n d f i n a n c i n g s t r a t e g i e s a n d c a p i t a l e x p e n d i t u r e p l a n s , t h e d i r e c t i o n o f f u t u r e o p e r a t i on s a n d t h e fa c t or s o r t r e n d s a f e f c ti n g f i n a n c i a l c o n d i i o t n , i q l u i d i t y o r r e s u l t s o f o p e r ati o n s , e x p e c t a t i o n s i n c o n n e c t i o n w i t h t h e c o m p a n y ’ s E S G p l a n s , i n i i a ti v t e s , p r o j e c ti o n s , go a l s , c o m m i t m e n t s , e x p e c t a ti on s o r p r o s p e c t s , i n c l u d i n g ESG - r e la t e d t a r g e t s a n d g o a l s , a r e e x a m p l e s o f f or w a r d - l o o k i n g s t a t e m e n t s . A l th o u g h t h e C o m p a n y ’ s m a n a g e m e n t b e l i e v e s t h a t t h e e x p e c t ati o n s a n d a s s u m p t i o n s o n w h i c h s u c h f or w a r d - l o o k i n g s t a t e m e n t s a r e b a s e d a r e r e a s o n a b l e , un d u e r e l i a n c e s h o u l d n o t b e p l a ce d o n t h e f o r w a r d - l o o k i n g s t a t e m e n t s . • G r u p o É x i t o op e r a t e s i n a c o m p e t i i v t e a n d r a p i d l y c h a n g i n g e n v i r o n m e n t ; t h e r e f o r e , i t i s n o t a b l e t o p r e d i c t a l l th e r i s k s , u n c e r t a i n ti e s o r o th e r fa c t o r s th a t m a y a f e f c t i t s b u s i n e s s , t h e i r p o t e n t i a l i m p a c t o n i t s b u s i n e s s , o r t h e e x t e n t t o w h i c h t h e o c c u r e r n c e o f a r i s k o r a c o m b i n a ti o n o f r i s k s c o u l d h a v e re s u l t s t h a t a r e s i g n i i c f a n t l y d i f e r e f n t f r o m t ho s e i n c l u d e d i n a n y forward - l o o k i n g s t a t e m e n t . I mp o r t a n t fa c t o r s t h a t c o u l d c a u s e a c t u a l r e s u l t s t o d i f e f r m a t e r i a l y f r o l m t h o s e i n d i c a t e d b y s u c h f or w a r d - l o o k i n g s t a t e m e n t s , o r th a t c o u l d c o n t r i b u t e t o s u c h d i f e r e f n ce s , i n c l u d e , w i t h o u t l i m i t a ti o n , t h e r i s k s a n d u n c e r t a i n ti e s s e t f o r t h u n d e r t h e s e c t i o n “ I t e m 3 . K e y I n f o r m a t i o n – D . R i s k F a c t o r s ” i n t h e C omp a n y ’ s r e g i s t r ati o n s t a t e m e n t onForm 20 - F f l e i d w i t h t h e S e c u r i i e t s a n d E x c h a n g e C om m i s i o s n o n A p r i l 3 0 , 2 0 2 5 . • Theforward - l o o k i n g s t a t e m e n t s c o n t a i n e d i n t h i s do c u m e n t a r e m a d e o n l y a s o f t h e d a t e h e r e o f . E x c e p t a s r e q u i r e d b y a n y a p p l i c a b l e l a w , r u l e s o r r e g u la t i o n s , G r u p o É x i t o e x p r e s l y d i s c l a i m s s a n y o b l i g ati o n o r un d e r t a k i n g t o p u b l i c l y r e l e a s e a n y u pd a t e s o f a n y f or w a r d - l o o k i n g s t a t e m e n t s c o n t a i n e d i n t h i s p r e s s r e l e a s e t o r e f l e c t a n y c h a n g e i n i t s e x p e c t a t i o n s o r a n y c h a n g e i n e v e n t s , c on d i i o t n s , o r c i r c u m s t a n ce s o n w h i c h a n y f or w a r d - l o o k i n g s t a t e m e n t c o n t a i n e d i n t h i s do c u m e n t i s b a s e d . • R e c o n c i i ati o l ns o f t h e non - I F R S f i n a n c i a l m e a s u r e s i n t h i s w e b c a s t a r e i n c l u d e d a t th e a p p e n d i c e s t o t h i s w e b c a s t pr e s e n t ati o n . • F i g u r e s e x p r e s e s d i n C o l om b i a n p e s o s i n t h i s p re s e n t a t i o n fo l o l w th e s h o r t - s c a l e c o n ve n t i o n . A c c o r d i n g l y , b i l i o l n s r e f e r t o t h o u s a n d s o f m i l i o l n s a n d t r i l i o l n s r e f e r t o m i l i o l n s o f m i l i o l n s .

 

 

Agenda CEO, Mr. Carlos ▪ Words from our Calleja ▪ Closed process of ADS and BDRs ▪ 2Q/1H25 Operating and Financial Highlights ▪ Performance by country ▪ Conclusions and Q&A session 3

 

 

Words from our CEO Mr. Carlos Calleja

 

 

Closed process of ADS and BDRs

 

 

Milestone achieved: Float consolidated in Colombia 6 Grupo Calleja 86.8% Today: Float 13.2% Vs 2.6% before delisting process Increased liquidity and local market visibility More accurate local pricing Shareholding structure remains solid and simplified Next step: – Deregister confirmed by CVM – Deregister request SEC Closed Delisting process ADS BDRs Figures $ in COP

 

 

2Q/1H25 Operating and Financial Highlights

 

 

2Q25 Colombia +6.8% Revenue Growth +5.8% Revenue Growth 1 592 Stores +36 LTM store from openings, conversions and remodelings 483 Stores Operating Performance Consistent growth of top line allowed double - digit growth of EBITDA Argentina 89 Stores Notes: SSS refers to same - store - sales levels, including the effect of store conversions and excluding the calendar effect . (1) Excluding FX. Uruguay +4.4% Revenue Growth 1 +10.4% Recurring EBITDA 1 +6.8% SSS 1 Sales +32.8% Recurring EBITDA 1 8.7% +195 bps EBITDA Margin +8.2% SSS Sales +50.8% Recurring EBITDA - 4.2% Revenue Evolution 1 - 5.7% SSS 1 Sales - 6.1% 20 Stores +5.1% SSS 1 Sales 8.8% +257 bps EBITDA Margin - 670 bps Recurring EBITDA Margin 11.9% +64 bps EBITDA Margin 8

 

 

Notes: (1) Consolidated results from Colombia, Uruguay and Argentina, eliminations and the FX effect of - 3.0% at Net Revenue and - 0.4% at Recurring EBITDA during 2Q25 and - 2.1% and - 0.9% respectively during 1H25. (2) Recurring EBITDA refers to Earnings Before Interest, Taxes, Depreciation, and Amortization adjusted by other non - recurring operational income (expense). (3) Expansion refers to stores from openings, reforms, conversions and remodellings . 9 Consolidated highlights 1 Net result turn - around to a historic positive margin (2.8%) in a second quarter • Net result in 2Q25 of COP $146.9 B from COP - $18.7 B in 2Q24: o Operational performance improvement o Efficiencies in financial cost o Improvements in Tuya results • Recurring EBITDA 2 COP $452.2 B grew by +32.3% with a consistent QoQ improvement, reaffirming the ongoing strategy • Net Debt / EBITDA ratio of 0.9x reflects strong operational performance and efficient cash generation during the 2Q25 • LTM store expansion 3 : 36 stores intervened (Col 35 and Uru 1) Closure of underperforming stores Key Highlights

 

 

Performance by country

 

 

Financial growth model Consolidated Net Result consistent improvement due to strong and solid strategies across the region 11 Note: Basic points refers to variation of margins over net revenues versus same period last year Net Revenue Gross Profit Expenses Recurring EBITDA Financial Cost Net Result 1H25 2Q25 1Q25 +4.7% Excl. FX +5.8% Excl. FX +3.9% Excl. FX +29 +4 +52 bps bps bps +135 +212 +61 bps bps bps +154 +195 +114 bps bps bps +14 +13 +14 bps bps bps 1.7% +244bps 2.8% +319 bps 2.3% +281 bps

 

 

Net Revenue Growth Drivers Top line grew by +5.8% excl. FX mainly boosted by Colombia performance 89% of the contribution came from Colombia, following by Uruguay and Argentina with the remaining 11% Notes: Figures in trillion COP 12 5.07 - 0.15 4.92 0.14 0.11 0.01 0.04 - 0.01 5.21 2Q24 FX Effect 2Q24. ex FX Food Non food Other Rev. Uruguay Argentina 2Q25 +5.8% 2.8% 2.2% 0.9% - 0.2% C o n t r i b u t i o n 0.2%

 

 

Strategic focus in Colombia Notable results in sales confirming the strategic focus on strengthening our actual store portfolio 13 Notes: SSS in local currency, include the effect of conversions and exclude the calendar effect of - 0.76% in 2Q25 and - 0.34% in 1H25 (1) The segment includes Retail Sales from Surtimax, Super Inter and Surtimayorista brands, allies, institutional and third - party sellers, and the sale of property development projects (inventory) of COP $2.8 B during 1H24 vs COP $3.8 B during 1H25. 13.9% Omnichannel Share Low - cost & other 1 +10.6% SSS per banner +8.4% - 4.9% +5.3% Food category +11.3% Non - Food category 2Q25 Net Sales COP $3.7 T ( +6.9% vs 2Q24) Banner Unification 40 Stores intervened +6.8% sales evolution since implementation Saving levers Assortment +30% increase in SKUs available on - the - shelf 6% share of new SKUs on FMCG Thematics days 12.7% share in fresh category in1H25 “inSUPERables” +13.6% growth in 1H25 “ImPRECIOnantes” New commercial initiative

 

 

Complementary business Note: (1) Excluding retail premises GLA (2) Viva Malls is a JV with Fondo Inmobiliario Colombia (FIC) in which Grupo Éxito has 51% stake and consolidates the business. 14 Viva Malls 2 in 2Q25: • Net revenue growth +13.7% • Recurring EBITDA margin at 78.6% (+257 bps vs 2Q24) Complementary business as the key contributor to margins gain +807,500 sqm of GLA (71.9% VM) Occupancy rate 1 97.5% (vs. 97.4% YoY) Revenues from rental and administrative fees +12.6 % in 2Q25 R e al E st ate Bu s i n e s s F i n an c i al R e tai l Income from associates of COP $ 19 . 9 Bn in 1 H 25 (+ COP $ 71 . 4 Bn vs 1 H 24 ) Stock 1.3 M Cards Improved NPL30 ( - 550 pbs vs Jun - 24) Lo ya l ty 8.3 M Clients with habeas data (+11.6% vs. Jun - 24) 6,144 Allied brands (+383 vs 1Q25) 55% Redeemed points in Éxito

 

 

Consistent expenses reduction QoQ and mitigating the inflationary pressures Efficiencies for COP $191 Bn during 1H25 ▪ Enhanced Margin driven by cost reduction strategies ▪ Logistics efficiencies ▪ Shrinkage levels reduction ▪ Corporate structure simplification ▪ Energy efficiency measures ▪ IT cost optimization Key Results & Actions - 6.0% decrease in expenses 2Q25 5.2% I n f l a t i o n a s o f D e c e mb e r 20 2 4 +9.5% M i n i m u m wa g e i n c r e a s e f o r 202 5 Expenses evolution in Colombia 15 0.0% 2.8% 2.6% 6.8% 2.6% - 1.8% - 5.9% - 2.2% - 6.0% 7.2% 5.8% 4.7% 5.2% 5.1% 4.8% 2Q24 3Q24 Revenue Growth 2Q25 CPI 4Q24 1Q25 Expenses Growth

 

 

Colombia result Double - digit growth of Recurring EBITDA +50.8% vs 2Q24 Highlights 2Q25 +8.2% SSS sales +7.5% Fresh category growth +14.6% Big tickets items growth o Sales: consistent growth allowed +6.9%, due to success commercial strategy o GP : margin gains (+ 59 bps in 2 Q 25 ) reflected cost efficiencies mainly in logistic o Expenses : Efficiencies and leaner structure led to a margin improvement of +236 bps in 2Q25 o EBITDA : High and improved margin at 8 . 8 % (+ 257 bps) driven by the strategy and action plans implemented Notes: (1) Figures in Million COP 16 230,653 347,917 6.2% 8.8% 2Q25 EBITDA Margin 2Q24 EBITDA +50.8% 2Q24 2Q25 Recurring EBITDA 3,698,813 3,951,655 Net Revenue 1 +6.8%

 

 

Strategic focus in Uruguay Consistent performance as the most profitable operation of the Group Note: (1) figures in local currency ( Net Sales COP $1.0 T +4.1% 1 vs 2Q24) Share on Net Sales +5.0% 1 Food category - 2.7% 1 Non - Food category 2Q25 46% 36% 15% “Salón del vino” 24 th edition grew +15% in sales vs 2024 Commercial initiatives under implantation: increase assortment and saving levers 3% Convenience & other Commercial strategy +8.1% 1 Omnichannel growth 17 Costs control and expenditure efficiency 3 Closure of convenience underperforming stores Key actions

 

 

Uruguay result Solid growth with healthy margins during 2Q25 allowed an extraordinary 1H25 +5.1% SSS sales 2 +6.0% FM Sales Growth 2 3.2% Omnichannel share o Revenues : consistent mid single digit growth in local currency o GP : Revenue growth allowed cost dilution, while tighter shrinkage control drove gross margin to 36 . 4 % o Expenses : successfully controlled indexed expenses drove a marginal growth of 1 . 2 % and improved margin by 74 bps vs 2 Q 24 o EBITDA : Higher GP and expenses reduction allowed the best margin of the group with + 64 pbs of improvement Notes: (1) Figures in Million COP. (2)Excluding FX 18 Highlights 2Q25 968,705 1,006,671 2Q24 2Q25 Recurring EBITDA 1 Net Revenue 1 +3.9% 108,821 119,573 11.2% 11.9% 2Q25 EBITDA Margin 2Q24 EBITDA +9.9%

 

 

+ Strategic focus in Argentina Focused on a leaner retail operation and preserve the Real Estate contribution Real Estate Business 7 Strategic stores intervened aiming to increase sales per sqm and optimizing retail premises area during 1H25 4 underperforming stores closed in 2Q25 of mini - wholesale formats Key Actions o Shrinkage levels reduction o Leaner structure o Logistics cost efficiencies o Debt under restructuration Asset: 14 shopping center GLA: 189,987 Occupancy Rate: 94.6% Collection Rate: 98.2% 19

 

 

Argentina result Lower sales partially compensated by the RE performance and double - digit expenses decrease - 5.7% SSS sales 2 +67.2% Real Estate Growth. 2 o Revenues : Real estate grew above inflation in local currency for 2 Q 25 and partially compensated lower sales trend . o GP: Decreased due to a lower consumption trend affecting margins. o Expenses : The double - digit reduction during 2 Q 25 was driven by the successful execution of efficiency initiatives . o EBITDA: Decreased sales and lower GP drove EBITDA into negative figures. Notes: (1) Figures in Million COP. (2)Figures in local currency 20 Highlights 2Q25 2,457 - 15,248 0.6% (6.1%) 2Q25 EBITDA Margin 2Q24 EBITDA 407,399 250,143 2Q24 2Q25 Recurring EBITDA 1 Net Revenue 1 - 38.6%

 

 

% var exc. FX 2Q24 % Var 2Q25 in COP T 5.8% 5.07 2.6% 5.21 Net Revenue 6.8% 1.30 2.8% 1.34 Gross profit 25.6% 4 bps 25.6% Gross Margin (2.7%) (1.14) (7.1%) (1.06) Total Expense (22.4%) 212 bps (20.3%) Expense/Net Rev NA (0.02) NA 0.15 Net Result (0.4%) 319 bps 2.8% Net Margin 32.8% 0.34 32.3% 0.45 Recurring EBITDA 6.7% 195 bps 8.7% Recurring EBITDA Margin % var exc. FX 1H24 % Var 1H25 4.7% 10.35 2.5% 10.61 6.6% 2.62 3.7% 2.72 25.3% 29 bps 25.6% (0.6%) (2.33) (3.6%) (2.24) (22.5%) 135 bps (21.2%) NA (0.06) NA 0.24 (0.5%) 281 bps 2.3% 29.0% 0.64 27.8% 0.82 6.2% 154 bps 7.8% Consolidated result Recurring EBITDA 1 Strong result reported and consistent QoQ improvement reaffirming the ongoing strategy • EBITDA : Historic margin ( 8 . 7 % , + 195 bps vs 2 Q 24 ), the best second quarter in the last decade driven by double - digit EBITDA growth in Colombia and Uruguay . • Net Result : +COP $ 165 . 6 Bn vs 2 Q 24 driven by operational performance, lower financial costs and contribution from joint ventures, with a record second quarter margin since 2Q18. Notes: (1) Figures in Million COP. (2)Excluding FX 21 341,931 452,242 6.7% 2Q24 EBITDA 2Q25 EBITDA Margin +32.3% 8.7% Highlights 2Q25 146,865 (0.4%) 2.8% 2Q25 Net Margin Net Result 1 - 18,735 2Q24 Net Result

 

 

Net Financial Debt at Holding Level 1 Stable Net financial Debt and gross debt reduction at holding level Net Financial debt key drivers: o Net Debt / EBITDA ratio of 0 . 9 x reflects strong operational improvement and efficient cash generation during the second quarter of 2025 . o Financial efficiencies captured by reducing the average debt maturity and benefitting from better market rates . Leverage and NFD Note: Numbers expressed in short scale, COP billion represent 1,000,000,000. (1) Holding: Almacenes Éxito S.A results without Colombia or international subsidiaries.. 22 Gross Debt breakdown by term at Holding 1 level 98% 2% Short - Term Long - Term - 1.74 - 1.75 Gross debt (financial liabilities & warranties) - 0.92 0.82 0.79 - 0.96 Cash (& other assets) Net financial debt 2Q24 2Q25 In T COP 2Q25 1.9 1.7 3Q24 2Q25 - 9%

 

 

Conclusions

 

 

Solid performance in Colombia , with strong top - line growth, significant EBITDA expansion, and improved profitability driven by commercial focus, cost efficiencies, and real estate and other businesses contributions . We are building a solid path to profitability in the Colombian retail business. Consistent growth and profitability in Uruguay, supported by the successful implementation of commercial initiatives . Challenging environment in Argentina , where efforts to streamline operations and reduce costs are still running, while the real estate business remains resilient despite ongoing macroeconomic pressures . We are actively developing new avenues for growth and reinvesting margin improvements back into the business . Our continued focus on margin expansion and disciplined cost control is driving sustained profitability. Strong 1H Results keep us on track to deliver our FY Plan, both, P&L and Cash. 2Q25 Final remarks & Strategic outlook Solid operational and financial performance continues to define our year 24

 

 

Appendices

 

 

Notes and Glossary Notes: • Numbers are expressed in short scale, COP billion represent 1,000,000,000. • Growth and variations are expressed in comparison to the same period last year, except when stated otherwise. • Sums and percentages may reflect discrepancies due to rounding of figures. • All margins are calculated as percentage of Net Revenue. • Percentages represent relative proportions, and as such they cannot be directly added or subtracted from each other because they are not absolute numeric values. Glossary: • • • • • • • • • • Colombia results: consolidation of Almacenes Éxito S.A. and its subsidiaries in the country. • Consolidated results: Almacenes Éxito results, Colombian and international subsidiaries in Uruguay and Argentina. • Adjusted EBITDA: Earnings Before Interest, Taxes, Depreciation, and Amortization plus Associates & Joint Ventures results. • EPS: Earnings Per Share calculated on an entirely diluted basis. • Financial Result: impacts of interests, derivatives, financial assets/liabilities valuation, FX changes and other related to cash, debt, and other financial assets/liabilities. • Free cash flow (FCF) = Net cash flows used in operating activities plus Net cash flows used in investing activities plus Variation of collections on behalf of third parties plus Lease liabilities paid plus Interest on lease liabilities paid (using variations for the last 12 M for each line); the cash flow has been re - expressed to be aligned with the financial statements. GLA: Gross Leasable Area. GMV: Gross Merchandise Value. Holding: Almacenes Éxito results without Colombian and international subsidiaries. Net Revenue: Total Revenue related to Retail Sales and Other Revenue. Retail Sales: sales related to the retail business. Other Revenue: revenue related to complementary businesses (real estate, insurance, travel, etc.) and other revenue. Recurring EBITDA: Earnings Before Interest, Taxes, Depreciation, and Amortization Operating Profit adjusted by other non - recurring operational income (expense). Recurring Operating Profit (ROI): Gross Profit adjusted by SG&A expense and D&A. SSS: same - store - sales levels, including the effect of store conversions and excluding the calendar effect. 26

 

 

Ownership Structure Note: Ownership structure as of June 30, 2025. 27

 

 

Management Team Carlos Mario Giraldo General Manager Colombia Jean Christophe Tijeras General Manager Uruguay Ramón Quagliata General Manager Argentina Juan Carlos Calleja CEO Grupo Éxito 28

 

 

Zero Malnutrition • 36,378 children benefited in nutrition and complementary programs. • 56,677 food package donated to children and their family. • Through our " VivirPlenamente" mental health program, we provided 1,383 consultations to 319 patients. • We are present in 32 departments and 83 municipalities. ESG initiatives to generate value: economic growth, social development and environmental protection • 4 , 498 tons of recyclable material collected in the operation . 100 % of proceeds support child nutrition projects in Colombia . Sustainable Trade Through the “ Cultivando Oportunidades” program, we purchase locally: • 90.7% of fruits and vegetables, 87.2 % of which were purchased directly. • 93.7% of our meat. • 87.2% of our seafood. • 100% of our eggs. Similarly, 95.6% of our textile garments were acquired locally. My Planet Our people employees, focused on physical, mental • 32,817 collaborators accessed employe benefits. • 3,571 collaborators have received training in various skills. • 389 health promotion activities for our and occupational health, with the active participation of 9,626 employees. ESG Follow UP Strategy 29

 

 

Consolidated Income Statement Note : Consolidated data include results from Colombia, Uruguay and Argentina, eliminations, and the FX e ect of - 3 . 0 % at Net Revenue and - 0 . 4 % at Recurring EBITDA during 2 Q 25 . Also, the FX e ect of - 2 . 1 % at Net Revenue and - 0 . 9 % at Recurring EBITDA during 1 H 25 . Recurring EBITDA refers to Earnings Before Interest, Taxes, Depreciation, and Amortization adjusted by other non - recurring operational income (expense) . Adjusted EBITDA refers to Earnings Before Interest, Taxes, Depreciation, and Amortization plus Associates & Joint Ventures results . EPS considers the weighted average number of outstanding shares (IAS 33 ), corresponding to 1 , 297 , 864 , 359 shares . % Var 1H24 1H25 % Var 2Q24 2Q25 in COP M 2.5% 9,888,571 10,135,835 2.4% 4,852,467 4,971,246 Retail Sales 3.4% 461,485 477,276 6.6% 222,450 237,223 Other Revenue 2.5% 10,350,056 10,613,111 2.6% 5,074,917 5,208,469 Net Revenue 2.1% (7,674,308) (7,839,122) 2.6% (3,746,958) (3,845,287) Cost of Sales 2.5% (54,091) (55,433) (3.0%) (28,255) (27,399) Cost D&A 3.7% 2,621,657 2,718,556 2.8% 1,299,704 1,335,783 Gross Profit 29 bps 25.3% 25.6% 4 bps 25.6% 25.6% GrossMargin (4.0%) (2,031,704) (1,950,599) (7.6%) (986,028) (910,940) SG&A Expense (1.1%) (297,398) (294,098) (3.6%) (149,603) (144,169) Expense D&A (3.6%) (2,329,102) (2,244,697) (7.1%) (1,135,631) (1,055,109) Total Expense (135)bps 22.5% 2 1 . 2 % (212)bps 22.4% 20.3% Expense/NetRev 62.0% 292,555 473,859 71.1% 164,073 280,674 Recurring Operating Income (ROI) 164 bps 2 . 8 % 4 . 5 % 216 bps 3.2% 5.4% ROIMargin 145.7% (49,164) 22,467 208.8% (15,910) 17,310 Non - Recurring Income/(Expense) 103.9% 243,391 496,326 101.1% 148,163 297,984 Operating Income (EBIT) 232 bps 2 . 4 % 4 . 7 % 280 bps 2.9% 5.7% E B I T M a r gi n (4.7%) (197,738) (188,417) (3.1%) (115,028) (111,445) Net Financial Result 150.4% (48,422) 24,413 154.4% (26,362) 14,343 Associates & Joint Ventures Results 12101.5% (2,769) 332,322 2865.9% 6,773 200,882 EBT (98.6%) 29,993 411 (85.5%) 28,431 4,127 Income Tax 1122.2% 27,224 332,733 482.3% 35,204 205,009 Net Result 10.6% (83,822) (92,721) 7.8% (53,939) (58,144) Non - Controlling Interests 524.1% (56,598) 240,012 883.9% (18,735) 146,865 Group profit (loss) for the period 281 bps (0.5%) 2 . 3 % 319 bps (0.4%) 2.8% NetMargin 27.8% 644,044 823,390 32.3% 341,931 452,242 Recurring EBITDA 154 bps 6 . 2 % 7.8% 195 bps 6.7% 8.7% R e c u r i n g E B I T D A M a r g i n 59.3% 546,458 870,270 61.5% 299,659 483,895 Adjusted EBITDA 292 bps 5.3% 8.2% 339 bps 5.9% 9.3% A d j u s t e d E B I T D A M a r g i n 42.2% 594,880 845,857 44.0% 326,021 469,552 EBITDA 222 bps 5.7% 8.0% 259 bps 6.4% 9.0% E B I T D A M a r g i n 0.0% 1,297.864 1,297.864 0.0% 1,297.864 1,297.864 Shares 524.1% (43.6) 184.9 883.9% (14.4) 113.2 EPS

 

 

Income Statement and CapEx by Country Notes: Consolidated data include results from Colombia, Uruguay and Argentina, eliminations, and the FX e ect of - 3.0% at Net Revenue and - 0.4% at Recurring EBITDA during 2Q25, - 2.1% and - 0.9%, respectively during 1H25. Recurring EBITDA refers to Earnings Before Interest, Taxes, Depreciation, and Amortization adjusted by other non - recurring operational income (expense). The Colombia perimeter includes the consolidation of Almacenes Éxito S.A. and its subsidiaries in the country. Data in COP includes a – 0.5% FX e ect in Uruguay at Net Revenue and at Recurring 31 EBITDA during 2Q25 and - 35.9% in Argentina, respectively, for 1H25 Uruguay - 2.0% and - 24.8% for Argentina, calculated with the average and closing exchange rate. Consol Argentina Uruguay Colombia Consol Argentina Uruguay Colombia Income Statement 1H25 1H25 1H25 1H25 2Q25 2Q25 2Q25 2Q25 in COP M 10,135,835 534,071 2,048,741 7,553,023 4,971,246 234,430 994,372 3,742,444 Retail Sales 477,276 32,894 21,443 422,939 237,223 15,713 12,299 209,211 Other Revenue 10,613,111 566,965 2,070,184 7,975,962 5,208,469 250,143 1,006,671 3,951,655 Net Revenue (7,839,122) (390,728) (1,293,450) (6,154,944) (3,845,287) (174,521) (637,886) (3,032,880) Cost of Sales (55,433) 82 (4,275) (51,240) (27,399) 98 (2,160) (25,337) Cost D&A 2,718,556 176,319 772,459 1,769,778 1,335,783 75,720 366,625 893,438 Gross profit 2 5 . 6 % 3 1 . 1 % 3 7 . 3 % 2 2 . 2 % 2 5 . 6 % 3 0 . 3 % 3 6 . 4 % 2 2 . 6 % G r o s s M a r g i n (1,950,599) (199,909) (504,967) (1,245,723) (910,940) (90,870) (249,212) (570,858) SG&A Expense (294,098) (18,911) (45,972) (229,215) (144,169) (8,324) (23,515) (112,330) Expense D&A (2,244,697) (218,820) (550,939) (1,474,938) (1,055,109) (99,194) (272,727) (683,188) Total Expense 2 1 . 2 % 3 8 . 6 % 2 6 . 6 % 1 8 . 5 % 2 0 . 3 % 3 9 . 7 % 2 7 . 1 % 1 7 . 3 % Expense/NetRev 473,859 (42,501) 221,520 294,840 280,674 (23,474) 93,898 210,250 Recurring Operating Income (ROI) 4 . 5 % ( 7 . 5 % ) 1 0 . 7 % 3 . 7 % 5 . 4 % ( 9 . 4 % ) 9 . 3 % 5 . 3 % R O I M a r g i n 22,467 (1,829) 11,374 12,922 17,310 138 10,720 6,452 Non - Recurring Income and (Expense 496,326 (44,330) 232,894 307,762 297,984 (23,336) 104,618 216,702 Operating Income (EBIT) 4 . 7 % ( 7 . 8 % ) 1 1 . 2 % 3 . 9 % 5 . 7 % ( 9 . 3 % ) 1 0 . 4 % 5 . 5 % E B I T M a r g i n (188,417) (55,899) 6,053 (138,571) (111,445) (46,872) 4,137 (68,710) Net Financial Result 823,390 (23,672) 271,767 575,295 452,242 (15,248) 119,573 347,917 Recurring EBITDA 7 . 8 % ( 4 . 2 % ) 1 3 . 1 % 7 . 2 % 8 . 7 % ( 6 . 1 % ) 1 1 . 9 % 8 . 8 % B E a r g i M I R e c u n T D A i n CAPEX 81,065 968 30,029 50,068 34,766 968 9,708 24,090 i n C O P M 283 303 50,068 283 94 24,090 i n l o c a l c u r r e n c y

 

 

Var % Dec 2024 Jun 2025 in COP M (5.7%) 9,539,043 8,991,415 Liabilities (5.2%) 7,197,560 6,823,577 Current liabilities (10.9%) 4,408,479 3,927,911 Trade payables (4.0%) 299,456 287,579 Lease liabilities 8.6% 1,984,727 2,155,287 Borrowing - short term 107.8% 60,481 125,689 Other financial liabilities (23.8%) 119,210 90,846 Liabilities for taxes (27.3%) 325,207 236,265 Others (7.4%) 2,341,483 2,167,838 Non - current liabilities (92.4%) 22,195 1,680 Trade payables 1.1% 1,684,788 1,703,697 Lease liabilities (39.2%) 273,722 166,470 Borrowing - long Term (3.4%) 14,068 13,592 Other provisions (19.4%) 304,235 245,300 Deferred tax liability (20.1%) 7,321 5,851 Liabilities for taxes (11.1%) 35,154 31,248 Others 2.4% 8,015,512 8,206,954 Shareholder  s equity Consolidated Balance Sheet Note: Consolidated data include figures from Colombia, Uruguay and Argentina. 32 in COP M Jun 2025 Dec 2024 Var % Assets 17,198,369 17,554,555 (2.0%) Current assets 5,293,829 5,456,605 (3.0%) Cash & Cash Equivalents 1,314,864 1,345,710 (2.3%) Inventories 2,755,662 2,818,786 (2.2%) Accounts receivable 479,414 659,699 (27.3%) Assets for taxes 678,611 553,916 22.5% Assets held for sale 2,645 2,645 0.0% Others 62,633 75,849 (17.4%) Non - current assets 11,904,540 12,097,950 (1.6%) Goodwill 3,278,921 3,297,086 (0.6%) Other intangible assets 380,193 400,714 (5.1%) Property, plant and equipment 4,118,432 4,261,625 (3.4%) Investment properties 1,780,695 1,828,326 (2.6%) Right of Use 1,745,583 1,728,352 1.0% Investments in associates and JVs 315,966 291,554 8.4% Deferred tax asset 250,141 253,085 (1.2%) Others 34,609 37,208 (7.0%) Var % Dec 2024 Jun 2025 in COP M (2.0%) 17,554,555 17,198,369 Assets (3.0%) 5,456,605 5,293,829 Current assets (2.3%) 1,345,710 1,314,864 Cash & Cash Equivalents (2.2%) 2,818,786 2,755,662 Inventories (27.3%) 659,699 479,414 Accounts receivable 22.5% 553,916 678,611 Assets for taxes 0.0% 2,645 2,645 Assets held for sale (17.4%) 75,849 62,633 Others (1.6%) 12,097,950 11,904,540 Non - current assets (0.6%) 3,297,086 3,278,921 Goodwill (5.1%) 400,714 380,193 Other intangible assets (3.4%) 4,261,625 4,118,432 Property, plant and equipment (2.6%) 1,828,326 1,780,695 Investment properties 1.0% 1,728,352 1,745,583 Right of Use 8.4% 291,554 315,966 Investments in associates and JVs (1.2%) 253,085 250,141 Deferred tax asset (7.0%) 37,208 34,609 Others

 

 

Var % Jun 2024 Jun 2025 in COP M 1122.2% 27,224 332,733 Profit 29.7% 631,118 818,567 Operating income before changes in working capital 158.3% (544,532) 317,521 Cash Net (used in) Operating Activities (68.9%) (226,680) (70,583) Cash Net (used in) Investment Activities (151.5%) 526,868 (271,190) Cash net provided by Financing Activities (90.1%) (244,344) (24,252) Var of net of cash and cash equivalents before the FX rate (135.4%) 18,643 (6,594) Effects on FX changes on cash and cash equivalents (86.3%) (225,701) (30,846) (Decresase) net of cash and cash equivalents (10.8%) 1,508,205 1,345,710 Opening balance of cash and cash equivalents 2.5% 1,282,504 1,314,864 Ending balance of cash and cash equivalents Consolidated Cash Flow Note: Consolidated data include figures from Colombia, Uruguay and Argentina. 33

 

 

% Var 1H24 1H25 % Var 2Q24 2Q25 in COP M 4.8% 7,213,231 7,561,764 6.9% 3,504,742 3,746,757 Retail Sales (13.6%) 223,019 192,627 (5.8%) 96,918 91,256 Other Revenue 4.3% 7,436,250 7,754,391 6.6% 3,601,660 3,838,013 Net Revenue 4.1% (5,908,441) (6,148,768) 6.0% (2,859,153) (3,029,667) Cost of Sales 2.8% (47,701) (49,043) 0.8% (24,053) (24,244) Cost D&A 5.2% 1,480,108 1,556,580 9.1% 718,454 784,102 Gross profit 1 7 bps 1 9 . 9 % 2 0 . 1 % 48 bps 1 9 . 9 % 2 0. 4 % G r o s s M a r g i n (5.1%) (1,228,079) (1,165,443) (5.8%) (586,911) (552,705) SG&A Expense (2.4%) (229,991) (224,358) (4.7%) (114,871) (109,502) Expense D&A (4.7%) (1,458,070) (1,389,801) (5.6%) (701,782) (662,207) Total Expense 1 6 8 bps ( 1 9 . 6 % ) ( 1 7 . 9 % ) 223 bps ( 1 9 . 5% ) ( 1 7 . 3 % ) Expense/NetRev 656.8% 22,038 166,779 631.1% 16,672 121,895 Recurring Operating Income (ROI) 1 8 5 bps 0. 3 % 2 . 2 % 271 bps 0 . 5 % 3 . 2 % RO I M a r g i n 125.8% (50,004) 12,894 143.2% (14,859) 6,419 Non - Recurring Income and (Expense) 742.5% (27,966) 179,673 6977.4% 1,813 128,314 Operating Income 269 bps ( 0. 4 % ) 2 . 3 % 329 bps 0 . 1 % 3 . 3 % E B I T M a r g i n (25.4%) (215,743) (160,902) (26.1%) (108,099) (79,902) Net Financial Result 524.1% (56,598) 240,012 883.9% (18,735) 146,865 Group profit (loss) for the period 3 . 1 % ( 0. 8 % ) 386 bps 435 bps ( 0 . 5% ) 3 . 8 % N e t M a r g i n 46.9% 299,730 440,180 64.3% 155,596 255,641 Recurring EBITDA 1 6 5 bps 4 . 0 % 5 . 7 % 234 bps 4. 3 % 6 . 7 % rBEg a c u r i n g R e I T D A M i n Holding Income Statement 1 (1) Holding: Almacenes Éxito Results without Colombia subsidiaries Recurring EBITDA refers to Earnings Before Interest, Taxes, Depreciation, and Amortization adjusted by other non - recurring operational income (expense). 34

 

 

Var % Dec 2024 Jun 2025 in COP M 0.1% 13,904,222 13,923,422 Assets 0.7% 3,971,573 3,999,420 Current assets (7.9%) 856,675 789,155 Cash & Cash Equivalents 1.8% 2,230,260 2,269,565 Inventories (21.5%) 314,528 246,842 Accounts receivable 19.9% 495,669 594,369 Assets for taxes 33.6% 74,441 99,489 Others (0.1%) 9,932,649 9,924,002 Non - current assets 0.0% 1,453,077 1,453,077 Goodwill (5.7%) 171,861 162,128 Other intangible assets (4.1%) 1,861,804 1,785,916 Property, plant and equipment (0.7%) 64,177 63,744 Investment properties 0.2% 1,525,968 1,528,874 Right of Use 2.1% 4,653,658 4,752,412 Investments in subsidiaries, associates and JVs (12.0%) 202,104 177,851 Others Var % Dec 2024 Jun 2025 in COP M (2.5%) 7,215,710 7,038,391 Liabilities (1.6%) 5,591,365 5,499,367 Current liabilities (5.3%) 3,129,255 2,963,939 Trade payables (7.1%) 315,308 292,892 Lease liabilities 10.0% 1,553,175 1,708,946 Borrowing - short term 20.0% 161,672 194,024 Other financial liabilities (38.7%) 108,668 66,576 Liabilities for taxes (15.6%) 323,287 272,990 Others (5.3%) 1,624,345 1,539,024 Non - current liabilities 2.2% 1,443,071 1,475,115 Lease liabilities (74.9%) 128,672 32,259 Borrowing - long Term (2.9%) 13,843 13,435 Other provisions (53.0%) 38,759 18,215 Others 2.9% 6,688,512 6,885,031 Shareholder  s equity Holding Balance Sheet 1 (1) Holding: Almacenes Éxito Results without Colombia subsidiaries. 35

 

 

Debt by country and maturity Note : The Colombia perimeter includes the consolidation of Almacenes Éxito S . A . and its subsidiaries in the country . 1 ) Debt without contingent warranties and le ers of credits . ( 2 ) Holding gross debt issued 100 % in Colombian Pesos with an interest rate below IBR 3 M + 2 . 0 % , debt at the nominal amount . IBR 3 M (Indicador Bancario de Referencia) – Market Reference Rate : 9 . 25 % ; other collections included, and positive hedging valuation not included . ( 3 ) Debt at the nominal amount . 36 Consolidated Argentina Uruguay Colombia Holding (2) 30 Jun 2025, (millions of COP) 2,280,976 123,285 325,714 1,831,977 1,902,970 Short - term debt 166,470 - 134,210 32,260 32,259 Long - term debt 2,447,445 123,285 459,924 1,864,236 1,935,230 Total gross debt (1) (2) 1,314,864 37,114 318,035 959,715 789,155 Cash and cash equivalents (1,132,582) (86,170) (141,890) (904,522) (1,146,075) Net debt Net debt breakdown by country 30 - jun - 25 Maturity Date Nature of interest rate Nominal amount 30 Jun 2025, (millions of COP) 400,000 July 2025 Floating 400,000 Revolving credit facility - Bilateral 200,000 July 2025 Floating 200,000 Short Term - Bilateral 150,000 July 2025 Floating 150,000 Short Term - Bilateral 135,000 July 2025 Floating 135,000 Short Term - Bilateral 83,400 July 2025 Floating 83,400 Short Term - Bilateral 100,000 August 2025 Floating 100,000 Short Term - Bilateral 100,000 August 2025 Floating 100,000 Short Term - Bilateral 100,000 August 2025 Floating 100,000 Short Term - Bilateral 95,000 August 2025 Floating 95,000 Short Term - Bilateral 50,000 August 2025 Floating 50,000 Short Term - Bilateral 100,000 November 2025 Floating 100,000 Short Term - Bilateral 82,515 November 2025 Floating 82,515 Short Term - Bilateral 48,331 March 2026 Floating 290,000 Long Term - Bilateral 69,103 March 2027 Floating 190,000 Long Term - Bilateral 1,713,349 2,075,915 Total gross debt (3) Holding Gross debt by maturity

 

 

Store number and Retail Sales area Note: The store count does not include the 1,962 allies in Colombia. 37 Uruguay 37,510 55 Devoto 35,350 31 Disco 15,240 2 Geant 304 1 Six or Less 88,405 89 Total Uruguay Argentina 81,842 15 Libertad 5,850 5 Mayorista 87,692 20 Total Argentina 1,008,043 592 TOTAL Banner by country Store number Sales area (sqm) Colombia 625,781 201 Exito 97,890 134 Carulla 19,375 51 Surtimax 39,827 42 Super Inter 49,073 55 Surtimayorista 831,946 483 Total Colombia

 

 

Laura Botero Morales Investor Relations Director +57 (604) 6049696 Ext 306560 ainvestor@grupo - exito.com Cra 48 No 32 B Sur 139, Viva Envigado Medellín, Colombia www.grupoexito.com.co exitoinvestor.relations@grupo - exito.com • “The Issuers Recognition - IR granted by the Colombian Stock Exchange is not a certification about the quality of the securities listed at the BVC nor the solvency of the issuer”.