2nd Quarter 2020 Results

August 2020

Safe Harbor

This presentation has been prepared by El Puerto de Liverpool, S.A.B. de C.V. (together with its subsidiaries, “Liverpool”), is strictly confidential, is not intended forgeneral distribution and may only be used for informational purposes. This presentation may contain proprietary, trade-secret, and commercially sensitiveinformation and neither this presentation nor the information contained herein may be copied, disclosed or provided, in whole or in part, to third parties for anypurpose. By receiving this presentation, you become bound by the above referred confidentiality obligation and agree that you will, and will cause yourrepresentatives and advisors to, use the information contained herein only to evaluate a credit rating for Liverpool and for no other purpose. Failure to comply withsuch confidentiality obligation may result in civil, administrative or criminal liabilities. The distribution of this presentation in other jurisdictions may also be restrictedby law and persons into whose possession this presentation comes should inform themselves about and observe any such restrictions.

Although the information presented in this document has been obtained from sources that Liverpool believes to be reliable, Liverpool does not make anyrepresentation as to its accuracy, validity, timeliness or completeness for any purpose. The information set forth herein does not purport to be complete and Liverpoolis not responsible for errors and/or omissions with respect to the information contained herein. Certain of the information contained in this presentation represents oris based upon forward-looking statements or information. These forward-looking statements may relate to Liverpool’s financial condition, results of operations,plans, objectives, future performance and business, including, but not limited to, statements with respect to outlooks and growth prospects, liquidity, capital resourcesand capital expenditure, growth in demand for our products, economic outlook and industry trends, development of our markets, competition in areas of ourbusiness; and plans to launch new products and services, and the effect of legal proceedings and new laws, rules and regulations and accounting standards onLiverpool’s financial condition and results of operations. All statements contained in this presentation that are not clearly historical in nature are forward-looking,and the words “anticipate,” “believe,” “continues,” “expect,” “estimate,” “intend,” “project” and similar expressions and future or conditional verbssuch as “will,” “would,” “should,” “could,” “might,” “can,” “may” or similar expressions are generally intended to identify forward-looking statements.The information in this presentation, including but not limited to forward-looking statements, applies only as of the date of this presentation and is not intended togive any assurance as to future results. Liverpool and its advisors expressly disclaim any obligation or undertaking to update or revise the information, including anyfinancial data and forward-looking statements, and will not publicly release any revisions they may make to this presentation that may result from events orcircumstances arising after the date of this presentation.

Any projections included herein have been prepared based on Liverpool’s views as of the date of this presentation of future events and financial performance andvarious estimations and assumptions, including estimations and assumptions about future events, may prove to be incorrect or may change over time. The projectionshave been prepared and are set out for illustrative purposes only, and do not constitute a forecast. While the projections are based on assumptions that Liverpoolbelieves are reasonable under the circumstances, they are subject to uncertainties, changes (including changes in economic, operational, political, legal, and othercircumstances) and other risks, all of which are beyond Liverpool’s control and any of which may cause the relevant actual, financial and other results to be materiallydifferent from the results expressed or implied by such projections. No assurance, representation or warranty is made by any person that any of the projections will beachieved and no recipient should rely on the projections. None of Liverpool, its affiliates, Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & SmithIncorporated or any of their respective directors, officers, employees, partners, shareholders, advisers and agents makes any assurance, representation or warranty asto the accuracy of the projections. Nothing contained in this presentation may be relied upon as a guarantee, promise or forecast or a representation as to the future.Liverpool undertakes no obligation to update the projections or any of the information contained in this presentation. (1.0)

2

Omni-experience Entity

Omni-experience

*For Liverpool & Suburbia. 3

123 StoresNationwide presence

163 StoresNationwide presence

28 Shopping MallsPresence across 17 states

156 BoutiquesPresence in 65% of the country

+5.5M Card Holders• Private Label Cards*• VISA Cards*

• eCommerce• Click & Collect• Liverpool Pocket• Seller´s App• Extended Catalog• Marketplace

Digital

COVID-19 Action Plan

2

3

4

5

6

7

Preserve Group Liquidity▪ Cash on hand: $5,455 million pesos

▪ Quarter Cash Burn: $8,706.4

Maximize eComm/Digital▪ eCommerce

▪ Credit card payments

▪ Customer communication

Restrict OPEX to Minimum▪ 17.3% reduction vs. 2Q19

▪ Headcount unchanged

Reduction of Purchase Orders▪ 68% reduction in orders

▪ 12.4% increase in inventory vs. 2019

Tightening of Credit Origination ▪ Credit Portfolio 18% below last year (-$6 bn)

▪ Skip payment program

▪ Avoid higher delinquency ratios

▪ Digital solutions

1Welfare of Customers &

Associates

Dividend Payment Deferral▪ Payment Date TBD

Share Buyback Program On Hold

Short-Term Credit Lines▪ $3,500 million pesos

8

9

As of June 30th, 2020

10

Reduce CAPEX to Minimum▪ Halved to $5,100 million pesos

Digital performance during the lockdown (2Q20)

5

6.8x growth in new digital customers

5.1x growth in digital sales

2.3x growth in visits to our website

3.0x growth in Liverpool Pocket active

users participation

Conversion rate growth by almost 2.0x

As of June 30th, 2020

80% of total sales

3.0x increase in Marketplace sellers

Logistics performance during the lockdown (2Q20)

6

Increased capacity for order processing▪ New delivery methods

▪ Internal capacity complemented with external delivery

services.

▪ 87% of deliveries made by external delivery services.

Successful deliveries▪ 90% delivered on or before time

Increase in delivery days

Click & Collect▪ 25% participation rate since reopening

▪ “Curbside pickup” (Your order delivered to your car)

Staff Reduction due to COVID-19 pandemic

Purchase Orders▪ 400% increase

As of June 30th, 2020

Store and Shopping Mall Reopenings

7

As of September 21st, 2020

All units are now

operational

Locations operating

accordingly to local and

federal restrictions:

▪ Business hours

▪ Capacity of customers

▪ Sanitary measures and

filters

Strategic Priorities

Omni-experience

Customer Experience & Big Data

Profitability Improvement

Digital Transformation

Suburbia´s Growth

El Puerto de Liverpool´s Footprint

8

Strategic Priorities

Profitability ImprovementLiverpool Stores, Galerías Shopping Centers

and Credit Cards

9

Focus on profitability and efficiency

Stores remodeling – rather than growth

Existing shopping malls – invest on improved experience

Strategic Priorities

Suburbia´s Growth Based on Seven Pillars

10

Accelerated expansion

Continuity to Suburbia´s successful business model

Omnichannel model development

New credit card model

CRM capabilities

Update logistics model

Human resources’ talent management

Apply for Mexico Doesn´t apply for Mexico

Retail Evolution: USA & MEXICO

11

Department Stores

Growth

Category Killers Mass

Merchandisers

Price Clubs E-Commerce

OverexpansionOff- Price

Fast Fashion COVID-19

• USA Department Stores

have failed to adapt to new

customer needs.

• Omnichannel + credit

division + real state division

are making the difference

Omni-experience Right to Win

Highly Recognized Liverpool Brand

Liverpool CardsLogistics Infrastructure

Stores NetworkRetail Assortment,

Extended Catalog & Market Place

Customer Data

12

Store Collaboration Model

13

Customer Store✓ Physical

✓ Extended Catalog

✓ Marketplace

Other Stores

Free Home Delivery

DC

Store Collaboration

Serving our customers anytime,

anywhere, for life!

- 90% of orders delivered on or before time

- Stores fulfill 97% of orders

- Successful delivery rate is 95% (Customer at home)

Fulfillment

App

Salesperson

App

Returns and

Service

Logistics Master Plan

14

Logistics Platform

Arco Norte (PLAN)

Tultitlán

‒ Top selling skus’ allocated them next to the POS

‒ Increased service level for replenishment and

eCommerce

‒ OMS allocates inventory dynamically

‒ Optimization of store network and labor, to support pick/pack

‒ Product lifecycle management

‒ Shorten lead times for store replenishment

‒ Strengthen data analysis for merchandise

planning

Merchandise planning

Logistics, DC and Transportation

Order Management and Fulfillment

PLAN* project

‒ More than 1.6 MM sqmt of

available space, 400 acres

‒ Capex through 2022: $8.5 MMPs

‒ Operating principles: Sustainability,

Flexibility and Scalability

‒ Best in class technology and

processes

‒ Startup date: 1st Q 2022

* Plataforma Logística Arco Norte

Our most important digital channel

Liverpool Pocket

80% increase in downloads

15

✓ Credit Card Payments

✓ E-Wallet (+30K users)

✓ Account Balance

✓ Safe Transactions

✓ Account Monthly

Statement

5.1x sales growth

Credit Card Support

Retail Capabilities

Extended

Catalog

Click &

Collect

Order Tracking

& Follow UpReal Time Inventory

by Store

Marketplace+ +

+

New features!• Express Checkout

• Improved browse & shop

• +Marketplace assortment

As of June 30th, 2020

Digital Standings

16

GMV México - 2Q2020 $Mx

(Growth as %)

Calculations made with each of the companies reports.

BN - $MXN

9.9 MM

15.9 MM

6.4 MM

5

10

20

0

15

233%122% 217%

Digital Standings

17

GMV México – YTD 2020 $Mx

(Growth as %)

Calculations made with each of the companies reports.

BN - $MXN

11.7 MM

24.2 MM

8.8 MM10

15

25

5

20

163%66% 61%

Segmentation▪ Clients, channels, products payment methods, etc.

Business Intelligence▪ Customer identification

▪ Unique customer

Customer 360° View▪ Holistic customer view

Customer Service▪ Personalized communication (CRM)

▪ Increase R-F-M1

Advanced Analytics▪ Descriptive analytics

▪ Predictive models

▪ Prescriptive models

▪ Cognitive models (AI)

Customer Knowledge▪ Comprehensive knowledge of customer behavior

▪ Experiences design & value generation

Customer Experience & Big Data Priorities

1 R-F-M: Recency, Frecuency, Money 18

Digital main goal:

Hyper Personalization

Customer 360° View

19

20

Machine Learning

Artificial Intelligence

Data Analysis

Customer experience

Logistics optimization

Inventory Management

Reaching Hyperpersonalization

+

Improving

With

El Puerto de Liverpool´s Footprint

21

Company´s Footprint▪ Working environment

▪ Health and wellness projects

▪ Education programs

Responsible Purchases▪ Suppliers certification

Environment▪ Energy efficiency

▪ Waste management

▪ Sustainable shopping bags

Volunteering• Relationship within society

▪ Donations

▪ Education for communities

Cash Burn

$(8,706)

Liverpool at a Glance – 2Q2020

1 Liverpool + Suburbia + Digital *Figures in Million MXN2 Liverpool + Suburbia

22

Store Openings

Suspended due to

COVID-19

CAPEX

$1,094

Revenues

$14,746

(58.7)% vs. YA

Retail Sales 2

$11,767

(62.5)% vs. YA

EBITDA

$(1,839)

vs. YA

EBITDA Margin

(12.5)%

vs. YA

SSS 1

(63.5)%

vs. YA

Ending cash position:

$5,455 MMPs

Cash Burn

$(13,180)

Liverpool at a Glance – YTD

1 Liverpool + Suburbia + Digital *Figures in Million MXN2 Liverpool + Suburbia

23

Store Openings

3 Suburbia Stores

CAPEX

$1,977

Revenues

$41,471

(34.4)% vs. YA

Retail Sales 2

$34,440

(37.2)% vs. YA

EBITDA

$730

vs. YA

EBITDA Margin

1.8%

vs. YA

SSS 1

(38.6)%

vs. YA

Ending cash position:

$5,455 MMPs

Liverpool at a Glance – Same Store Sales

(1) As of 1Q

(2) Only Liverpool24

Liverpool´s Annual Growth Suburbia´s Annual Growth

Suburbia

Liverpool

ANTADDepartamentStores12%

0%

6%

18%

-100%

(4.0)% (11.3)%

1Q20

5.9%7.4% 6.4%6.3%

4.9%7.1%

17.1%

11.4%

6.6%

11.5%

(0.5)%

5.0%0.4%

(5.9)%

4.4%

(6.6)%

4Q183Q182Q181Q18 2Q191Q19 3Q19 4Q19

Quarterly Growth

Total Retail Annual Growth

6.6%

(36.0)%

4.3%

2020 120192018

5%

0%

10%

10.6%

(55.4)%(2.7)%

2020 120192018

6%

0%

12%

(38.6)%

3.3%

2020 12019

5%

0%

10%

7.1%

2018

2Q20 Av. Ticket (2)

2Q20 Traffic

92.2%

(78.8)%

(59.3)% (91.2)%

2Q20

Liverpool at a Glance - Credit 2Q2020

25

Liverpool

2Q2020 NPL

3.8%

Suburbia

2Q2020 NPL

5.8%

Credit Card 1

48%

Of Total Retail Sales

Credit Card Holders

+5.5M

Consolidated NPL´s

5.1% 5.7%4.5%

5.8%5.1% 5.6%

4%

2%

0%

6%

6.0%

4.5%5.1%

4Q3Q2Q1Q

2018

4Q3Q2Q1Q

2019

4Q3Q2Q1Q

2020

Portfolio coverage index for the 2Q2020: 14.2%

We expect NPL´s to spike by September due to Skip Payment program

1 Liverpool only

3.9%

$8,731

$4,970

$7,958

2017201620152014

4K

3K

1K

2K

5K

0

$4,873

$8,418

20192018

6K

8K

7K

9K

10K

$8,592

10%

5%

0%

15%

20%

% Revenue

Liverpool at a Glance - CAPEX

26

$1,977

2Q2020

(Ps $ in millions)

CAPEX

$5.1Billion Pesos

CAPEX 2020 target

Expansion,

42%

Remodeling,

28%Maintenance,

2%

Logistics,

17%

IT, 11%

Total Debt

3,948 1

Debt Structure & Maturity Profile

14,546 2

(1) LIVEPOL24 144A Reg S US$300 million, fixed exchange rate 13.15 MxPs/USD (2) LIVEPOL26 144A Reg S US$750 million, fixed exchange rate 19.39 MxPs/USD(3) Fully hedge in Pesos: principal + interest

27

3,500 3,400 3,500

5,000

Net Debt/EBITDA

Debt/EBITDA

1.5

1.0

0

0.5

2.0

201820172016 2019

1.6x1.4x

1.8x1.5x

0.7x0.9x 0.7x

Leverage

Pre-IFRS 9 & 16

0.06x

By Interest Type By Currency

Average

Interest Rate

7.88%

Average Life

6.1 years

Total Debt

$38,894.1

Not including IFRS16

Includes derivative

instruments acquired for

hedging purposes

Million Pesos

144A Reg S

Local Bonds & Bank Credits

6,000

4,000

0

2,000

16,000

202420222020 2026 2027 2029

As of August 18st, 2020

Million Pesos

2.5

5,000

2030

52.5%

47.5%

Pesos

Synthetic Pesos (3)

91.0%

9.0%

Fixed Variable

Net

Gross

1.5

1.0

0

0.5

2.0

2019

1.9x

1.1x1.8x2.1x

Leverage

After IFRS 9 & 16

2Q2020

2.5

Income Statement | 2020

28

Million Pesos 2Q2020 2Q2019 % VAR. 2020 2019 % VAR.

Commercial Income 11,767.0 31,410.4 (62.5) 34,440.0 54,848.6 (37.2)

Leasing Income 357.3 864.2 (58.7) 1,263.6 1,739.9 (27.4)

Interest Income 2,622.0 3,441.1 (23.8) 5,767.7 6,596.5 (12.6)

Total Income 14,746.2 35,715.7 (58.7) 41,471.3 63,185.0 (34.4)

COGS (9,451.0) (21,347.0) (55.7) (25,368.0) (37,756.5) (32.8)

Commercial Gross Profit 2,316.0 10,063.4 (77.0) 9,072.0 17,092.1 (46.9)

Commercial Margin 19.7% 32.0% (12.4 p.p) 26.3% 31.2% (4.8 p.p)

Net Gross Profit 5,295.2 14,368.7 (63.1) 16,103.3 25,428.4 (36.7)

Gross Margin 35.9% 40.2% (4.3 p.p) 38.8% 40.2% (1.4 p.p)

Operating expenses without depreciation,

overdue accounts and one time provisions(5,965.3) (7,211.9) (17.3) (13,487.4) (14,513.1) (7.1)

Provisions for overdue accounts (1,168.4) (1,430.9) (18.3) (1,886.0) (2,236.4) (15.7)

EBITDA Expenses (7,133.7) (8,642.8) (17.5) (15,373.4) (16,749.5) (8.2)

Depreciation & Amortization (1,233.9) (1,157.6) 6.6 (2,488.8) (2,317.1) 7.4

Net Operating Expenses (8,367.6) (9,800.4) (14.6) (17,862.2) (19,066.6) (6.3)

Consolidated Operating Income (3,072.4) 4,568.2 (167.3) (1,758.9) 6,361.8 (127.6)

Consolidated EBITDA (1,838.5) 5,725.8 (132.1) 729.9 8,678.9 (91.6)

Consolidated EBITDA Margin (12.5)% 16.0% (28.5 p.p) 1.8% 13.7% (12.0 p.p)

Financing expense (558.3) (698.4) (20.1) (1,271.5) (1,366.0) (6.9)

Foreign exchange gain (134.8) (14.0) 861.2 94.7 (21.8) 534.1

Profit before income tax (3,765.5) 3,855.8 (197.7) (2,935.7) 4,974.0 (159.0)

Income Tax 1,183.9 (1,078.1) 209.8 990.2 (1,357.3) 173.0

Effective Rate 31.4% 28.0% 0.0% 33.7% 27.3% 0.0%

Net Income before Investment in Associates (2,581.6) 2,777.7 (192.9) (1,945.5) 3,616.8 (153.8)

Investment in Associates (297.3) 261.6 (213.6) (113.5) 384.5 (129.5)

Net Income (2,878.8) 3,039.3 (194.7) (2,059.0) 4,001.2 (151.5)

Non-controlling Net Income (0.0) (1.0) (99.7) (1.1) (2.1) (47.7)

Controlling Net Income (2,878.9) 3,038.3 (194.8) (2,060.0) 3,999.2 (151.5)

Balance Sheet | 2Q2020

29

As of June 30th, 2020 2020 2019 Dif

Cash / cash equivalent 5,454.6 10,953.1 (5,498.5)

Loan portfolio 27,615.8 33,603.8 (5,987.9)

Inventories 25,809.7 22,967.1 2,842.6

Investmen in associates 8,974.1 8,417.3 556.8

Fixed assets 50,157.6 48,379.8 1,777.8

Right of use assets 11,402.8 11,329.1 73.8

Investment properties 22,530.8 21,332.5 1,198.3

Other 35,532.3 28,690.8 6,841.5

Total Assets 187,477.8 185,673.4 1,804.4

Suppliers 8,487.0 21,534.3 (13,047.4)

Short term loans 3,500.0 3,000.0 500.0

Long termn loans 36,143.8 27,069.1 9,074.6

Lease liabilities 12,112.3 11,527.2 585.1

Other liabilities 22,177.0 20,624.3 1,552.7

Total Liabilities 82,420.0 83,755.0 (1,335.0)

Stockholders' equity 105,057.8 101,918.4 3,139.4

Million Pesos

Cash Flow | 2020

30

YTD

Initial Balance of Reserve 4,468.7 4,013.8 6.4% 4,422 3,982.3 11.1%

(+) New Reserves 1,168.4 1,430.9 (18.3)% 1,886.0 2,236.4 (15.7)%

(-) Write Off (883.0) (809.1) 9.1% (1,754.2) (1,583.0) 10.8%

Ending Balance of Reserve 4,554.1 4,635.7 (1.8)% 4,554.1 4,635.7 (1.8)%

Jun 2020 Dec 2019 Var% Jun 2020 Jun 2019 Var%

Coverage Ratio 14.2% 10.4% 3.8 p.p. 14.2% 12.1% 2.0 p.p.

Liverpool Reserve

31

Total Reserve

Liverpool at a Glance – Credit Reserves 2Q2020

Initial Balance of Reserve 176.0 50.2 250.7% 179.4 4.1 4,274.2%

(+) New Reserves 93.3 121.6 (23.3)% 148.1 167.7 (11.7)%

(-) Write Off (62.0) (4.7) 1,223.8% (120.3) (4.7) 2,466.4%

Ending Balance of Reserve 207.3.0 167.1 24.0% 207.3 167.1 24.0%

Suburbia Reserve

MxPs Millions 2Q2020 2Q2019 Var. % 2020 2019 Var. %

Initial Balance of Reserve 4,092.7 3,963.6 3.3% 4,242.9 3,978.2 6.7%

(+) New Reserves 1,075.1 1,309.4 (17.9)% 1,737.9 2,068.7 (16.0)%

(-) Write Off (821.0) (804.4) 2.1% (1,634.0) (1,578.3) 3.5%

Ending Balance of Reserve 4,346.8 4,468.6 (2.7)% 4,346.8 4,468.6 (2.7)%

91,293

100,442

122,168

135,535

144,234

63,185

41,471

2015

2016

2017

2018

2019

2019

Σ2Q

2020

Σ2QRevenues

Consolidated SSS

14,870

16,051

18,350

20,237

23,877

8,679

730

2015

2016

2017

2018

2019

2019

Σ2Q

2020

Σ2Q EBITDA

EBITDA Margin

Liverpool at a Glance – Financial Performance Trends

(Ps $ in millions)

1 2019 & 2020 includes IFRS 9 & 16 32

Revenues

CAGR: 9.6%

(Ps $ in millions)

EBITDA & EBITDA Margin 1

CAGR: 8.3%

15.0%

14.9%

16.0%

16.6%

1.8%

13.7%

16.3%

5.8%

7.1%

8.0%

3.3%

(38.6)%

5.6%

10.0%

8,652

11,691

11,650

12,453

12,192

2,831

(10,816)

2015

2016

2017

2018

2019

2019 Σ2Q

2020 Σ2Q OCF

% Revenue

11.1%

9.6%

8.9%

9.4%

10.2%

9.8%

-6.4%

2015

2016

2017

2018

2019

2019 Σ2Q

2020 Σ2Q

Liverpool at a Glance – Financial Performance Trends

(Ps $ in millions)

33

Operating Cash Flow 1 Return on Invested Capitals (ROIC) 1

9.5%

9.2%

11.6%

8.5%

(26.1)%

4.5%

9.5%

1 2019 & 2020 includes IFRS 9 & 16

Analyst Coverage

34

Firm

Target Price

2020 2021 Opinion

54.00 Neutral

58.00 Underweight

60.00 Equalweight

61.00 Hold

65.00 Neutral

66.00 Market Perform

68.00 Neutral/High Risk

70.00 Underperform

85.00 Outperform

85.00 Neutral

92.00 Market Outperform

* 117.00 Neutral

* Pre-Covid

35

Contact Information:

emgrinang@liverpool.com.mx

IR: www.elpuertodeliverpool.mx

www.liverpool.com.mx

Bolsa Mexicana de

Valores (BMV): LIVEPOL