2025 reaffirmed the resilience of our business and the strength of our core. While a softer-than-expected consumption environment weighed on growth and we were not entirely satisfied with the results, the underlying performance remained solid, supported by continued market share gains and disciplined execution across the business.

In 2026, we are accelerating the pace of execution of our 3 business priorities: EDLP, Availability and eCommerce acceleration.

In Mexico, we once again grew same store sales ahead of ANTAD, marking our twelfth consecutive year doing so. This reinforces our ability to continue gaining market share, as well as the long-term relevance of our formats that serve customers when they need us most. We also expanded margins while protecting our price leadership, continuing to invest in value for customers, and strengthening price perception. At the same time, we improved inventory levels furthermore. This progress reinforces our capacity to support profitability while maintaining the flexibility, and we believe this positions us well for coming years

Our strategy, anchored in strict financial discipline, continues to translate into consistent growth and attractive returns. Looking ahead, we will stay focused on the core that defines us. Price leadership is a longterm commitment that guides every decision. To make that promise real, we will continue strengthening availability and execution so customers find what they need, when they need it. And we will keep accelerating eCommerce by building on a competitive advantage that is hard to replicate: our network of stores and clubs. With this, we intend to reinforce the trust that customers and business partners put in us.