#1ConsorcioARA® November 2023#2Contents I. Housing sector II. ARA'S Strenghts III. Our Strategy IV. V. Administration and Organization Financial Information VI. Contacts VII. Appendixes 2#3ConsorcioARAⓇ I. Housing sector#4Macroeconomic factors in the Housing Industry In 2021, Mexico's housing industry GDP reached 1.39 trillion pesos, or 5.7 of national GDP. Housing Industry GDP by Economic Activity Sector 2021 Mexican population growth Real-Estate and Rental Services 28.6% Financial Services Others 0.7% 4.9% 65 and + 60 to 64 55 to 59 50 to 54 +13% (2010-2020) 45 to 49 40 to 44 35 to 39 30 to 34 25 to 29 20 to 24 15 to 19 10 to 14 Building 65.8.% 5 to 9 0 to 4 0 5 10 2010 2020 Millions Sources: The information in this slide comes from public sources and was obtained from: Mexican Housing Satellite Account 2021, INEGI (https://www.inegi.org.mx/temas/viviendasat/) and INEGI's 2010 and 2020 censuses (https://inegi.org.mx/programas/ccpv/2020/) +#5Mortgage lending Results 2022 Infonavit Number of Credits Change vs. 2021 276,576 -11.6% Fovissste 48,220 -3.5% Commercial Banking 119,415 -2.3% Total Investment Change vs. 2021 P$153,701 -1.6% P$36,024 -0.4% P$235,299 +12.5% Average Amount P$555,731 Change vs. 2021 +11.3% P$747,079 +3.2% P$1.97 +15.2% Mortgage lending plan 2023 Number of Growth in investment Investment 2 Credits over 2022 Total 350,139 290,865 -0.9% $184,496 Total P$226,807 | | | 59,274 +7% $42,311 ■Fovissste Infonavit Notes: 1. Figures include financing for new and used homes 2. Figures rounded up to the nearest million. Sources: The information contained in this section comes from public sources and was obtained from the National Housing Commission (CONAVI) https://sniiv.conavi.gob.mx/cubo/financiamientos.aspx, 2023-2027 Strategic and Financial Plan Infonavit https://portalmx.infonavit.org.mx/wps/wcm/connect/d1701565- fa09-493b-a391-bea597236d26/Plan Estrategico y Financiero 2022-2026.pdf.pdf?MOD=AJPERES&CVID=nSR2YY0 and Agreement 30.1375.2021 approving the financing program for the National Housing Fund 2023 https://www.dof.gob.mx/nota detalle.php?codigo=5639351&fecha=24/12/2021. 5#6品 ConsorcioARAⓇ II. ARA'S Strenghts#7Company History CANCUN 1977 The company was founded and build its first 400 homes in a project in Mexico State 1984 Completed the construction of 1,338 homes and began building 4,104 more 1989 Start of operations in Cancún, the first project outside the Mexico City metro area 1995 Purchase of the first mixer for making its own cement 1996 Went public on the BMV Centro San Miguel 2003 Start of construction of the first shopping center, Centro San Miguel 2002 Start of an affordable entry-level housing macro-project with 20,342 homes CENTRO LAS AMÉRICAS 2005 Opening of Centro las Américas in the Mexico City metro area 2007 The company's CEO, Germán Ahumada Russek, received "Man of the House" recognition 2008 Opening of 15 developments totaling 65,912 homes 2013 Actinver 2017 2019 2020 2021 Through its strength and financial strategy, the company excelled during a liquidity crisis in the industry Issued long-term unsecured securities certificates on the Mexican market for a total of MXN1.35 billion Approved a dividend of MXN350mn, equivalent to 42.3% of 2018 net earnings For the seventh year in a row the Company generated free cash flow, this time totaling MXN888.1mm Floated the second and third issue of long-term unsecured securities certificates, totaling MXN1.5bn 7#8Experience With more than 46 years of experience, ARA has built and sold more than 389,200 homes inhabited by approximately 1,557,000 Mexicans. ARA is currently present in 15 states and has 41 developments in operation. For the past 17 consecutive years, ARA has maintained the highest credit risk rating in the Mexican housing industry from S&P Global Ratings, at "mxAA-". Starting in 2017, the Company also obtained a credit rating from HR Ratings, currently at "HR AA+", also the highest among Mexico's publicly traded housing developers. Also, in 2021, Fitch Ratings assigned ARA a long-term national-scale rating of "A+(mex)". Appropriate strategy for diversifying revenues geographically and by product Broad and diversified high-value land bank ARA has developed a value chain that vertically integrates its operations: Post-Sale Service Environment and market research Planning and acquiring land bank >$ Uninterrupted financial solidity over the years due to prudent resource management and cautious approach to debt Focus on free cash flow generation to finance company operations Flexibility to adapt successfully in changing environments Optimum mix of revenues and home that enable it to serve various market segments: Affordable Entry-level, Middle- Income and Residential Experience in building and operating shopping centers ↑ Vertical integration *** Management team with extensive experience in the industry Delivery of home Titling Value Chain Construction Sales Desing of homes and developments Applications, permits, etc. Procurement / Supply: COMACI 8#9Type of Products ARA has succeeded in diversifying its portfolio into various types of product and positioned itself throughout the Mexican territory. Affordable Entry Level Price Range: P$500,000 to P$840,000 Residential Price Range: +P$1,730,001 CASAS ARA ARA RESIDENCIAL DREAM LAGOONS 37 B Middle Income Price Range: P$840,001 to P$1,730,000 Geographic and product diversification → 15 States ◇ 21 Cities 31 Municipalities 41 Developments CASAS ARA DREAM LAGOONS 9#10Land Bank Over the course of its history, ARA has invested heavily in the acquisition of land. At present, the company's land bank has a book value of MXN4.25bn, and consists of 30.5 million m², sufficient to build 118,221 homes. This reserve includes 2 million m² set aside for non-housing real-estate projects, like commercial developments, tourist resorts and industrial zones. State State of Mexico Quintana Roo Guanajuato Guerrero Nayarit Jalisco Veracruz Units 34,258 % 29.0% 32,649 27.6% 6,982 5.9% 6,495 5.5% ARA's land bank is fully paid and 95% free of liens. 6,470 5.5% 6,446 5.5% 5,241 4.4% Puebla 4,961 4.2% Hidalgo 3,158 2.7% 118,221 master plan units % by Revenues 1 Nuevo León 2,080 1.8% Baja California Sur 1,600 1.4% 10,886 Baja California 1,570 1.3% Morelos 868 0.7% Sonora 800 0.7% 9.2% Varios (4 state) 4,643 3.9% Total 118,221 100% 24.0% 43.0% 17 States 34,000 28.8% 62.0% 73,335 33.0% Notes: 1. Percentage obtained by multipliying units per LTM average price. Affordable Entry Level Middle Income Residential 10 10#11Product Diversification ARA owns 100% of Centro San Miguel, Plaza Centella, Centro Buenaventura, Plaza Carey and other “uni” and “mini”- centers. It also owns a 50% stake in Centro las Américas and Paseo Ventura. 6 Shopping Malls Centro San Miguel Américas • Centro los Tu lugar ■Tu estilo Ps.$MM $300 Net Operating Income¹ 247 $250 228 $200 PLAZA Plaza Carey CENTELLA CUAUTITLÁN $150 PASEO VENTURA Buenaventura San $100 DIVERTIDO. DIFERENTE. DELICIOSO. ¡te queda cereal $50 168 Occupancy rate: 95% GLA² 205,409 m² 274 209 219 $0 2018 2019 2020 2021 2022 9M23 Notes: 1. NOI = Net Operating Income. 2. GLA = Gross Leasable Area. 11#12ConsorcioARAⓇ III. Our Strategy#13Our Strategy ARA's success has been achieved by following a long-term strategy based on various pillars on which it has achieved an outstanding place in the industry, overcome the 2013 liquidity crisis and also weather the pandemic crisis of 2020-2021. Pilares Estratégicos Crecimiento sostenible en 100% ingresos y crecimiento de la utilidad neta Revenues 28.6% 34.1% 32.3% 33.2% 31.8% 80% 38.1% 44.1% Selectivos en la compra de terrenos Healthy leverage ratios 60% 28.9% 34.0% 33.0% 30.9% 37.6% 31.7% 25.2% 40% Generate free cash flow 20% 34.5% 31.8% 30.4% 25.4% 29.9% 29.9% 26.7% 5.3% Maintain a diversified product 0% 2.5% $ portfolio 2017 2018 3.5% 2019 3.8% 4.1% 2020 2021 4.8% 2022 3.9% 9M23 Other Real Est. Proj. Residential Middle Income Affordable Entry Level 13#14Our Strategy Paraíso Country Club 14#15Our Strategy Kuyaan Residencial Altavela Cascadas Cocoyoc Puerta al Sol 15#16Our Strategy Arona Residencial Punta Mar Diamante Izamal Residencial Dream Diamante 116#17Our Strategy Dream Lagoons Cancún T D Dream Lagoons Diamante Dream Lagoons Rialta 17#18Vertical Integration 14 plants to produce our own ready-mix. 11 million m³ of ready-mix produced during the past twenty-five years, equivalent to building more than 250 structures the size of Azteca Stadium, one of the largest sports facilities in the world. ARA 18#19ConsorcioARAⓇ IV. Administration and Organization E E#20Robust Corporate Governance Germán Ahumada Russek Chief Executive Officer Housing Division Germán Ahumada Russek is Chairman of the Board of Directors and CEO of Consorcio ARA, and is also the company's founding partner. Over its 46 years of operation, Consorcio ARA has built and sold more than 389,200 homes inhabited by approximately 1,557,000 Mexicans. Mr. Ahumada has a degree in Civil Engineering from Universidad Iberoamericana and studied at St. John's University in Minnesota. Miguel Lozano Pardinas Co-Chief Executive Officer Operating Currently Deputy Chief Operating Officer. From 2015 to February 2021 he was Deputy CEO, from March 2012 to March 2015 he was Chief Operating Officer, and he served as Corporate Director of Construction from 2007 to 2012. Before coming to ARA he was Director of Construction at Grupo Metropolitano DeMet from 1997-2007; at Grupo BAIA, S.A. de C.V. from 1995 to 1996; and at Grupo Elefante, S.A. de C.V. from 1972-1994. Alicia Enriquez Pimentel Co-Chief Executive Administrative and Finance Officer Alicia joined Consorcio ARA in the year 2002. In 2009 she joined the Investor Relations Area and from 2014 to June 2017 she was Director of that area. In July 2017 she was appointed Chief Financial and Investor Relations Officer, playing a key role in the opening issue of long-term unsecured securities certificates on the Mexican market for a total of MXN1.35 billion. Since March 2021 she has held the title of Deputy Chief Administration and Financial Officer. Board of Directors 69% of the Board of Directors are independent Germán Ahumada Russek Luis Felipe Ahumada Russek Germán Ahumada Aduncin Miguel Guillermo Lozano Pardinas Patricio Bustamante Martínez Sylvia Meljem Enríquez de Rivera Pedro Alonso Angulo Ricardo Paullada Nevárez Luis Ramón Carazo Preciado Raúl Fernando Robledo Tovi Roberto Danel Díaz Pedro Manuel Zorrilla Velasco Salvi Rafael Folch Viadero Cotiza en Chairman Vice Chairman Vice Chairman Board Member Board Member Board Member Board Member Board Member Board Member Board Member Board Member Board Member Board Member Cotización Committees of the Board of Directors 1 Audit Committee 2 Corporate Practices Committee Bolsa Mexicana ARA 27 years of continuous listing on the Mexican Stock Exchange 20#21品 ConsorcioARAⓇ V. Financial Information#22Financial Solidity¹ Because of its operating efficiency and conservative policies to ensure a growing cash flow, ARA has been able to reduce its net debt to negative levels. 643 1,076 Cash and cash equivalents Net debt 1,788 Crec. ('13-'22): +431% 3,391 3,101 3,146 2,969 2,946 2,950 1,071 Crec. ('13-'22): -146% 2,695 886 847 2,286 1,787 30 1,467 2018 2019 2020 2021 2022 9M22 9M23 2013 2014 2015 2016 2017 -297 -467 -426 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 9M22 9M23 -890 -826 -1,342 Despite the pandemic, ARA was able to generate positive Free Cash Flow to the Firm in 2020 and 2021. 863 424 331 2014 2015 1,188 1,031 888 872 599 -952 129 155 150 2016 2017 2018 2019 2020 2021 2022 9M22 9M23 Notes: 1. Figures rounded to the nearest million 22#23Financial Metrics 2020 2021 2022 9M22 9M23 EBITDA Margin Interest coverage1 Net Debt/ EBITDA¹ 12.0% 15.1% 13.6% 13.5% 14.9% 2.8x 5.9x 4.4x 4.5x 3.4x -1.4x -1.4x -0.9x -1.0x -0.4x Cost bearing liabilities / EBITDA¹ 3.4x 2.1x 2.5x 2.2x 2.2x Cost bearing liabilities/Stockholders' equity 0.2x 0.1x 0.2x 0.1x 0.2x Cost bearing liabilities/Total assets 0.1x 0.1x 0.1x 0.1x 0.1x 5.9 15.1% 13.6% 13.5% 14.9% 12.0% 6,956 6,377 5,460 5,101 5,240 655 962 946 689 || 2020 2021 Revenues 2022 9M22 EBITDA EBITDA Margin 4.5 4.4 3.4 2.8 3.4 2.5 2.1 2.2 2.2 782 -0.4 -1.4 9M23 2020 -1.4 2021 -0.9 -1.0 2022 9M22 9M23 Net Debt/EBITDA Cost bearing liabilities/EBITDA Interest coverage 3,391 3,101 3,146 2,950 2,695 2,211 2,320 2,049 1,998 2,269 0.2 0.2 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.1 -426 -890 -826 -952 -1,342 2020 2021 2022 2020 2021 Cash 2022 Cost bearing liabilities 9M22 9M23 Net Debt Cost bearing liabilities /Stockholders' equity Figures rounded to the nearest million 9M22 9M23 Cost bearingliabilities/Total assets 23#24Dividends ARA has had a policy on paying dividends subject to two conditions: 1) a sufficient balance in the net tax income account, and 2) positive Free Cash Flow generation. Assuming these two circumstances were present, dividends may be declared for up to 50% of net income in a given period. Year of payment 2005 2006 2007 2008 2010 2011 2015 2016 2017 2018 2019 2021 2022 2023 TOTAL Dividend amount 156.1 1,338.9 207.0 204.5 108.5 115.4 85.1 Dividend per share Yield 99.8 111.0 180.0 350.0 200.0 290.0 200.0 3,646.3 0.1189 1.0198 0.1576 0.1558 0.0832 0.0887 0.0648 0.0762 0.0848 0.1379 0.2704 0.1585 0.2301 0.1634 1.42% 9.06% 0.86% 1.30% 0.91% 1.16% 1.57% 1.27% 1.31% 1.80% 5.31% 4.15% 7.23% 5.11% Outstanding shares as of December 31, 2022: 1,260,020,063 Stock price as of December 31, 2022: MXN3.20 24#25Debt Maturity as of September 30, 2023 Millions of pesos 39.1 Total $2,135.8mdp 100.0 1,000.0 Cebur ARA 21X y ARA 21-2X Simple unsecured Shopping malls 41.9 104.8 49.3 46.3 250.0 9.1 25.0 100.0 125.0 125.0 120.3 2023 2024 2025 2026 2027 2028 Total $34.1 $1,139.1 $146.3 $174.3 $229.8 $291.9 2029 a 2035 $120.3 Note: Not including leasing liabilities 25#26ConsorcioARAⓇ VI. Contacts#27Contact Alicia Enriquez Finance and Investor Relations E-mail: [email protected] Phone: (+5255) 5246-3100 Paola Sandoval Investor Relations Specialist E-mail: [email protected] Phone: (+5255) 5246-3100 x 1415 Address: CONSORCIO ARA Park Plaza Torre II, Av. Javier Barros Sierra 540, 1st floor, Office 101, Santa Fe, Zip Code 01210. México City, México www.consorcioara.com.mx 27#28ConsorcioARAⓇ VII. Appendixes#29Statement of Comprehensive Income Third Quarter Change January-September 2023 / 2022 3Q23 / 3Q22 2023 / 2022 Change 9M23/9M22 3Q23 % 3Q22 % % 9M23 % 9M22 % $ % Revenues 1,749.3 100 1,689.8 100 59.4 3.5 5,239.9 100 5,100.8 100 139.1 2.7 Costs 1,278.3 73.1 1,248.9 73.9 29.5 2.4 Gross profit 470.9 26.9 441.0 26.1 30.0 6.8 General expenses 261.9 15.0 278.6 16.5 (16.7) 3,857.0 73.6 3,780.1 74.1 1,382.9 26.4 1,320.7 25.9 (6.0) 784.2 15.0 77.0 2.0 62.1 4.7 825.8 16.2 (41.6) (5.0) Other income - net (8.5) -0.5 (7.6) -0.4 (1.0) 12.7 (13.8) -0.3 (23.0) -0.5 9.3 (40) Income from operations 200.5 11.5 154.8 9.2 45.8 29.6 584.9 11.2 471.9 9.3 113.0 24.0 Financial income - net: Interest expense 74.1 4.2 53.7 3.2 20.5 38.1 230.9 4.4 153.5 3.0 77.3 50.4 Capitalized interest expense (53.9) -3.1 (37.4) -2.2 (16.5) 44.3 (160.5) -3.1 (104.2) -2.0 (56.3) 54.1 Interest income (72.7) -4.2 (64.8) -3.8 (7.9) 12.2 (225.6) -4.3 (157.9) -3.1 (67.7) 42.9 Exchange loss (gain) (0.7) 0.0 0.3 0.0 (1.0) (333.5) 7.1 0.1 0.9 0.0 6.2 698.2 Loss (gain) on derivatives 0.9 0.0 (1.2) -0.1 2.0 (171.7) 3.7 0.1 (9.5) -0.2 13.2 (139.1) (52.3) -3.0 (49.3) -2.9 (2.9) 6.0 (144.4) -2.8 (117.1) -2.3 (27.3) 23.3 Equity method in join ventures 19.3 1.1 26.0 1.5 (6.6) (25.5) 44.0 0.8 75.3 1.5 (31.3) (41.6) Income before Income taxes 272.1 15.6 230.1 13.6 42.1 18.3 773.3 14.8 664.3 13.0 109.1 16.4 Taxes: ISR deferred 90.6 5.2 36.8 2.2 53.7 146.0 145.0 2.8 28.4 0.6 116.7 411.1 ISR current (2.9) -0.2 39.9 2.4 (42.8) (107.3) 103.0 2.0 184.3 3.6 (81.3) (44.1) 87.6 5.0 76.7 4.5 10.9 14.2 248.0 4.7 212.6 4.2 35.4 16.6 Net Income 184.5 10.5 153.3 9.1 31.2 20.3 525.3 10.0 451.6 8.9 73.7 16.3 Other comprehensive income 0.0 0.0 0.0 0.0 Comprehensive income 184.5 10.5 153.3 9.1 31.2 20.3 525.3 10.0 451.6 8.9 73.7 16.3 Depreciation 22.6 1.3 17.7 1.0 4.9 27.4 59.5 1.1 53.0 1.0 6.4 12.1 NCFR recognized in costs 43.6 2.5 43.1 2.5 0.5 1.2 123.8 2.4 140.7 2.8 (16.9) (12.0) EBITDA 275.2 15.7 223.1 13.2 52.1 23.3 782.0 14.9 688.7 13.5 93.3 13.5 29#30Balance Sheet ASSETS Change As of Sep'23 As of Dec'22 Amount % CURRENT ASSETS: Cash and cash equivalents Accounts receivable Land for development 2,694.8 704.2 1,165.1 3,146.4 -451.6 (14.4) 659.7 44.6 6.8 1,373.6 -208.5 (15.2) Real estate inventories and land for development 9,935.5 Total Inventories 11,100.6 9,269.7 665.8 10,643.3 7.2 457.3 4.3 Other current assets 727.0 684.8 42.2 6.2 15,226.6 15,134.2 92.5 0.6 NON-CURRENT ASSETS: Golf Club memberships available for sale 173.8 173.8 0.0 Investment properties 1,053.5 1,065.6 -12.1 (1.1) Land for development 3,088.7 2,990.6 98.1 3.3 Long-term real estate inventories 2,073.7 1,923.2 150.5 7.8 Property, machinery and equipment - Net 176.6 151.4 25.2 16.6 Investments in joint venture 322.3 294.6 27.7 9.4 Deferred tax asset 267.9 253.3 14.6 5.8 Derivative financial instrument 1.3 5.0 -3.7 (74.2) Asset for use right 164.5 110.7 53.8 48.5 Other non-current assets 67.6 67.9 -0.2 (0.3) 7,389.9 7,036.1 353.8 5.0 22,616.5 22,170.2 446.3 2.0 TOTAL ASSETS CURRENT LIABILITIES: Current portion of unsecured securities certificates Bank Loans 993.8 993.8 172.4 167.3 5.1 3.0 Liability for leasing 63.6 42.8 20.8 48.5 Suppliers 798.0 791.2 6.8 0.9 Other current liabilities 1,175.8 1,123.5 52.3 4.7 3,203.6 2,124.8 1,078.8 50.8 NON-CURRENT LIABILITIES: Bank Loans 462.1 566.2 -104.0 (18.4) Unsecured Securities Certificate 493.7 1,482.2 -988.5 (66.7) Liability for leasing 83.1 Deferred income tax 3,599.9 Other Long Term Liabilities 26.3 TOTAL LIABILITIES 4,665.1 7,868.7 61.9 3,440.2 19.4 5,569.8 -904.7 7,694.5 174.2 21.2 34.3 159.7 4.6 7.0 35.9 (16.2) 2.3 STOCKHOLDERS' EQUITY 14,747.8 14,475.7 272.2 1.9 30 LIABILITIES AND STOCKHOLDERS' EQUITY 22,616.5 22,170.2 446.3 2.0#31Statements of cash flow Operating activities: Jan-Sep'23 Jan-Sep'22 Income before taxes 773.3 664.3 Items related to investing activities: Depreciation 59.5 53.0 Amortization of expenses for debt placement 5.8 5.7 Equity in earnings of equity method investees -44.0 -75.3 Other 3.7 -9.5 25.0 -26.0 Items related to financing activities: Interest expense 70.3 49.3 868.6 687.6 (Increase) decrease in: Trade accounts receivable - Net -44.6 36.3 Inventories -537.9 -345.4 Other assets -25.7 -79.2 Increase (decrease) in: Suppliers Other liabilities Income taxes paid Net cash provided by operating activities 6.8 223.7 24.2 -33.3 -91.9 -250.2 199.6 239.5 Investing activities: Purchasing of property, machinery and equipment -51.3 -38.0 Investment property -3.4 -46.6 Cash excess to apply to financing activities 144.9 155.0 Proceeds from debt 0.0 65.0 Payment for debt -99.4 -149.3 Interest paid lease contract payments -9.1 -1.4 Liability for leasing Dividends Interest paid Repurchase of own stock - net -28.0 -14.5 -200.0 -290.0 -207.7 -119.8 -52.4 -86.7 Financing activities -596.5 -596.7 Net increase in cash and cash equivalents -451.6 -441.7 Cash and cash equivalents at beginning of year 3,146.4 3,391.3 31 Cash and cash equivalents at end of the period 2,694.8 2,949.5