Fomento Económico Mexicano, S.A.B. de C.V.

OXXO México: traffic-led recovery + market share gains (strong, “structural” evidence) - Same-store sales +9.2% YoY in 3Q (limited World Cup benefit: only one Mexico match in early July). - Mix: average ticket +5.5% and average traffic +3.5%; traffic is the standout with +150 bps above 2Q. - Market share improving: through August, OXXO continues gaining share vs all relevant trade channels in categories it competes in; YTD share above 2024, with gains concentrated in core impulse categories. - Value-pillar momentum: food service traffic growing (mainly coffee, low double-digit), services traffic up, and daily/replenishment already modestly accretive to traffic (still early-stage).

OXXO México profitability: gross margin pressured but discipline maintained (good profit growth despite headwinds) - Gross margin -120 bps YoY reported, mainly due to: - Comparability/timing: 3Q25 had high concentration of commercial income. - Other mix effects: affordability initiatives offset by higher commercial income and growth in higher-margin services. - Gross profit +7.4%; operating income +5.8%, but operating margin -40 bps. - Store pruning impact: about ~20 bps headwind from closing 140 underperforming stores; overall pruning involves ~250 stores, with expectation of similar impact in 4Q.

Medium-term strategy: impulse is the base; food service and replenishment are the growth “flywheels” (ambitious but cautious) - Management sees impulse as “path of least resistance” (already improving), while food service and daily replenishment are where upside can become material over the medium term. - Food service ambition: aim to triple OXXO’s food-service revenue dependence in Mexico (like better-performing South American peers where dependence is ~3x higher). - Daily replenishment opportunity: “save time” and offer weekly basket needs at accessible price structures; early testing in Chihuahua and Tijuana. - No hard traffic forecast given; they emphasize remaining dissatisfied and expect cautious planning for weather/consumer softness.