Corporate Presentation 3Q25 by Sigma

Disclaimer

This presentation contains forward-looking information based on numerous variables, expectations and assumptions that are inherently uncertain. They involve judgments with respect to, among other things, future economic, competitive and financial market conditions and future business decisions, all of which are difficult or impossible to predict accurately. Accordingly, future results are likely to vary from those set forth in this presentation. You should not place undue reliance on forward-looking information. All forward-looking information is made as of the date of this presentation, based on information available to us as of such date, and we assume no obligation to update any forward-looking information. Copyright©

Investment Highlights

Multinational leader in the food industry delighting consumers with a portfolio of preferred, innovative brands

World-class brands across a diverse product portfolio

Strong understanding of consumer preferences

#1, #2 or #3 brand in all categories / markets

240,000+ consumer contact points annually

State-of-the-art innovation and R&D capabilities

2 R&D Centers

260+ Food Scientists

Multi-channel refrigerated distribution network Industry-leading performance; resilient supply chain

640k+ points of sale visited weekly across 17 countries

Double-digit ROIC (USD) 16 quarters of Revenue growth in local currency

Underpinned by a strong culture, driven by a motivated employee base and engaged management team

Transformation finalized; ALFA focused on SIGMA

 Advanced corporate rebranding initiative. ALFA name change proposal to be presented for shareholder approval shortly

Driving growth & transformation

Leading presence in 17 countries Top player in key markets

Cooked meats

Cheese

Yoghurt #1 Cooked meats #1 Cooked meats

#1 Ham y Fuets

#2 Cooked meats

#1 Franks (vol.) #2 Bologna #2 Hispanic cheese

#1 Cheese and spreads #1 Cooked meats

#2 Cooked meats #2 Cooked meats #2 Cooked meats

Leading brands across diversified market segments

Yoghurt Cheese, Creams and Spreads

Cooked Meats

Meats

Multi-channel consumer reach

Consumer-centric innovation

Purpose & Business Strategy

Meaningful, sustainable growth for generations to come

Gives us a reason for existing

Strategy

Sees where the world is going and what it needs from SIGMA

Culture & Capabilities

Becoming a future fit organization

A promise to always provide great tasting, flavorful food

An ambitious commitment to make life even better for both: people and planet

Business strategy based on four building blocks

● Financial objective: Mid-to-high single-digit organic EBITDA growth, complemented by M&A opportunities

2 Defend and grow the core

Evolve capabilities to enhance the organization’s potential Strengthen the organization 3 Strengthen the organization High potential opportunities near the core 1-2 categories to scale New business models Defend and grow our current sources of profitability New sources of revenue

Grow the Core

Through the years we have developed a successful core business that we continue to strengthen through:

• Deep consumer knowledge, innovation, and brand equity to exceed changing consumers’ needs.

• Execution with excellence and efficiency to deliver a winning value proposition.

• Margin Expansion based on revenue growth, costsaving initiatives, portfolio optimization, and leveraging on scale.

New Sources of Revenue: High Potential Opportunities

Cross-fertilization to attend high-value-opportunities identified in each region:

• Prepared Foods, Spreads, etc.

• Cheese, Sausages, Lunch Meats, etc.

• Traditional Channel, Foodservice, etc.

• Fuet, Fresh Sliced, Dry Meat, etc.

New Sources of Revenue: New business models

Some examples…

FY24 revenue grew 94% YoY

BB Franks achieved 21% market share in segment within 3 years since launch (Spain)

HT Meat Stick monthly retailer sales grew 3x YoY in 2024

FY24 revenue grew 134% YoY

Strengthen the organization: Evolve capabilities to enhance the organization’s potential

Culture

(Fundamentals)

Capabilities & Systems

(Our competitive advantage bets and the processes & data to support them)

Essentialism and alignment

Passion for Consumer

Mindsets & Behaviors

Talent Ownership

Consumer-centric Innovation

Consumer-centric Marketing Systems & Processes

Explore the Future: Health through food & Responsible protein

3Q25 Results

Note on changes to Alfa|SIGMA’s Consolidated Financial Statements

Controladora Alpek

ALFA’s shareholders approved the spin-off ALFA’s share ownership of Alpek into a new, listed entity called “Controladora Alpek” on October 24, 2024, and received Controladora Alpek shares on April 4, 2025.

In accordance with International Financial Reporting Standards (IFRS), Alpek met the definition of a “Discontinued Operation” for purposes of ALFA’s Consolidated Financial Statements. “Discontinued Operations” are the net results of an entity that is either being held for disposal or which has already been disposed of.

The changes in ALFA’s Consolidated Financial Statements are as follows:

 The Consolidated Statement of Financial Position presents Alpek’s assets as “Current Assets from Discontinued Operations” and its liabilities as “Current Liabilities from Discontinued Operations” beginning in 3Q24 until the distribution of Controladora Alpek shares to Alfa shareholders in early April 2025. Prior periods are not restated.

 The Consolidated Statement of Income presents Alpek’s net revenues and expenses as a single line item “Profit (loss) from Discontinued Operations” as follows:

– 3Q25: no figures presented related to Alpek

– 2Q25: accumulated figures for the three days ended April 3, 2025

– 3Q24: accumulated figures for the three months ended September 30, 2024

– 2025: accumulated figures for the three months and three days ended April 3, 2025

– 2024: accumulated figures for the nine months ended September 30, 2024

 The Change in Net Debt presents Alpek’s net inflows and outflows as a single line item “Decrease (Increase) in Net Debt from Discontinued Operations” as follows:

– 3Q25: no figures presented related to Alpek

– 2Q25: no figures presented related to Alpek

– 3Q24: accumulated figures for the three months ended September 30, 2024

 The Change in Net Debt also presents Alpek’s Net Debt balance as “Net Debt from Discontinued Operations” at the close of 3Q24. Prior periods are not restated, and the following periods do not present Alpek’s Net Debt balance.

SIGMA reports EBITDA of US $255 million in 3Q25;

YTD Comparable EBITDA of US $722 million, with non-recurring items

Mexico

• All-time high quarterly Revenues supported by selective price actions

• Resilient Volume; Retail channels outperforming Foodservice channel

• EBITDA down 6% YoY and up 11% QoQ. Sequential improvement driven by revenue management and favorable FX conversion

Europe

• Revenues up 6% YoY supported by stronger FX; flat in local currency

• Sequential improvement in Volume and Eurodenominated avg. price

• EBITDA down 16% YoY reflecting combined impact of the Torrente plant flooding and higher turkey costs

United States

• Flat Revenues YoY; higher average prices offset lower volume

• Growing penetration of Hispanic brands in mainstream channels partially offsets lower Volume in National brands

• Second highest 3Q EBITDA; down 19% YoY due to National brands volume and sales mix

Latam

• Record 3Q Revenue driven by higher Volume

• 3Q25 EBITDA down 11% YoY amid higher costs; up 10% sequentially driven by operating improvements

Resilient Volume

Revenue driven mainly by selective price actions

of US $255M down 9% YoY due to raw material

Comparable

Alfa|SIGMA maintains solid financial position

Alfa|SIGMA - Net Debt

Recent Developments

Growth Business Unit

• In Mexico, SIGMA’s snacks exceed 1 million units sold per month

• Upcoming launch in first U.S. city (4Q25)

, SIGMA’s global center of excellence for consumer-centered design and innovation, advancing to boost core brands.

• 46 Physical prototypes developed

• 11 Innovation commitments established To learn more visit: www.thestudiosigma.com

Alfa|SIGMA refinanced bank loan 26 months before maturity, at lower spread

• Original loan of US $150M; USD-denominated, maturing in 2027

• Refinanced loan of Ps. $3,000M; MXN-denominated, maturing in 2032, at lower spread

Alfa|SIGMA Dividend

• Board approved cash dividend of US $35 million (US $0.0063 per share)

• Paid on October 14, 2025

Sustainability

• Surpassed 80% goal of raw materials sourced from suppliers with sustainability practices (81%)

• Replaced 95% of fossil fuel-generated energy with biomass in Ecuador

• Installed 1,520 solar panels (984kWp) at the Imperial site in Belgium

• Improved Alfa | SIGMA’s S&P CSA rating to 41, a 4-point annual increase.

Governance & Management Team

Board of Directors

• MARIA TERESA ARNAL

Entrepreneur; 25+ years of experience in tech (Google, Twitter & Microsoft)

• DIEGO CALDERON ROJAS

CEO of Grupo Franca

• ENRIQUE CASTILLO SÁNCHEZ MEJORADA

CEO of Tejocotes 134, S.C.

• ÁLVARO FERNÁNDEZ GARZA

Chairman of the Board and CEO of ALFA, S.A.B. de C.V.

• ARMANDO GARZA SADA

Chairman of the Board of Nemak, S.A.B. de C.V.

• BRENDA GARZA SADA

Independent Advisor

• CLAUDIO X. GONZÁLEZ LAPORTE

Chairman of the Board of Kimberly-Clark de México, S.A.B. de C.V.

• DAVID MARTÍNEZ GUZMÁN

Founder and Managing Director of Fintech Advisory Inc.

• MIGUEL EDUARDO PADILLA SILVA

Former CEO – FEMSA.

• ALEJANDRA PALACIOS PRIETO

Independent advisor on strategy, M&A, and regulatory compliance.

• ANTHONY PRALLE

Former Partner and Managing Director – BCG, Consumer and Operations in Spain.

• ADRIÁN G. SADA CUEVA

CEO of Vitro, S.A.B. de C.V.

• ALEJANDRO RUIZ FERNÁNDEZ

Independent Advisor

• RICARDO SALDIVAR ESCAJADILLO

Former CEO / President of the BOD - Home Depot Mexico / Tec de Monterrey.

Experienced Management Team

Eugenio Caballero

Mexico

Harvard Juan Ignacio Amat

Sustainability

ENVIRONMENT

We focus on reducing our environmental impact by using resources more efficiently.

HEALTH AND NUTRITION

We promote healthy lifestyles through the nutritional profile of our products

WELLBEING

We commit to establishing conditions that motivate and make it easier for our employees and people to adopt habits that improve their quality of life.

SHARED VALUE

We create economic and social value through our strategic practices. stimulating development and strengthen our value chain.

Materiality Analysis

• In 2024, we began developing our first double materiality assessment in preparation for compliance with the Corporate Sustainability Reporting Directive (CSRD) and the International Financial Reporting Standards (IFRS) requirements.

Sustainability highlights 2024

US$10.6 million invested in initiatives related to mitigation of environmental impacts.

715

tons of virgin plastic avoided in our packaging in 2024.

19% reduction of water usage per ton of food produced compared to 2018.

22% reduction in CO2 eq emissions related to our plants and transportation fleet per ton of food produced compared to 2015.

US$20.5 million invested in employee wellbeing initiatives.

30.7 hours of training given on average to each employee.

23% of employees participating in volunteering initiatives.

45% reduction in accident rate vs 2018.

US$38.8 million invested in Research and Development.

57% of purchases from suppliers with responsible practices (covering 80% of the purchase).

98% of our plants are GFSI (Global Food Safety Initiative) certified.

26,014 tons of food donated between 2015 and 2024.

+1,930 new products launched in the last 36 months.

2025 Sustainability commitments progress

Climate Action

20% of reduction in CO2 eq emissions related to our plants and transportation fleet, per ton of food produced (compared to 2015).

Water Management

20% of reduction in water consumption per ton of food produced (compared to 2018).

Cleaner Energy 67% of electricity used in our plants from cleaner and renewable sources.

Health and Safety 22% of reduction in the accident rate at our operations (compared to 2018).

Professional Development Increase by 11%, the number of training hours per employee (compared to 2018).

Volunteering 10% of employees participating in volunteering activities.

Sustainable Innovation

Double the sales of products launched under the Health and Wellness portfolio* (compared to 2019).

Food Safety 100% of our plants with GFSI-endorsed certification (acquired as of 2018).

Nutritional Information For markets without a local mandatory labeling regulation as of 2018: 95% of packaged products portfolio with nutritional facts on label.

Responsible Sourcing

Food

80% of purchases from suppliers with enhanced sustainability practices.

(since 2015).

Appendix

Pork ham price in U.S. and Europe

Pork Ham Prices in U.S.

Pork Ham Prices in Europe

Poultry raw materials in the U.S.

Poultry raw materials in Europe

•

SIGMA Cost / Expense Structure LTM

Margin Expansion in Europe

• Sale of 2 manufacturing facilities in France

• Disinvestment of operations in Italy

Topline Actions

Targeted Revenue Management to offset raw material inflationary pressures

Efficiencies

Footprint

Optimization

• Administrative functions restructure

• Rationalization of product portfolio

• Snacking

• Plant-based

• Export opportunities

High Potential Initiatives

Appendix: Key Raw Material Price References

This appendix provides a detailed explanation on how to obtain key raw material price references from public sources. This is not intended as an exhaustive list of the company ´ s raw materials nor is it a direct representation of the company ´ s actual costs.

Pork

• USA – USDA PM Ham, 23-27# Trmd Sel Ham

• USA – USDA Pork Trimmings - 42% Trim Combo, FOB Plant

Poultry

• USA – USDA Chicken - MSC, Some Skin, 15-20% Fat, Fresh

• USA – USDA Turkey - MST, Some skin, under 20% fat, Fresh

• USA – USDA Turkey - Breast, Young Tom, Boneless & Skinless, Fresh

• USA – USDA Turkey - Thigh Meat, Boneless & Skinless, Fresh

Dairy

• USA – USDA Milk Class III

• USA – USDA Block Cheddar Cheese 40lb