The measure seeks to equip Falabella Retail, Sodimac, Falabella Financial Investments (FIF), and Tottus with more agile and effective governance, while also strengthening the synergies and opportunities offered by the ecosystem.

The renewal will include the addition of external experts with recognized professional backgrounds, some of whom are foreign nationals with extensive experience in global-scale companies.

Santiago, May 26, 2026. The Board of Directors of Falabella S.A. agreed to renew the Boards of Falabella Retail, Sodimac, Falabella Financial Investments (FIF), and Tottus, with the aim of moving toward a more agile and flexible organization that enhances the capture of natural synergies among its different businesses within the ecosystem.

The renewal will include the incorporation of external professionals with extensive experience in their respective fields, several of them international and with backgrounds in multinational companies operating on a global scale, in order to further strengthen the technical capabilities of each board.

To streamline decision-making, the Boards will reduce their number of members from 9 to 7 and will meet on a monthly basis. To ensure value capture and strengthen the ecosystem, both the Chairman of the Board of Falabella S.A., Fernando de Peña Yver, and the Group’s Corporate CEO, Alejandro González Dale, will participate in each of the boards.

New Experts Joining

Accordingly, Alex Szapiro will join the Board of Falabella Retail. He is an executive who led Amazon and Apple operations in Brazil and is currently associated with SoftBank in that country. Iñigo del Llano will also join, having held various senior positions at Inditex, Zara’s parent company, and previously worked with El Corte Inglés and Adolfo Domínguez.

At Sodimac, Adolfo Villagómez will join. He built a long career at home improvement chain Home Depot, eventually becoming Senior Vice President for the digital business. Alfonso Márquez de la Plata will also join; he is currently a corporate director and has held roles at Derco and Inchcape.

At Falabella Financial Investments (FIF), Fernando Carvalho will join, bringing experience from Banco Santander and NEON, where he currently serves as CEO.

At Tottus, Gonzalo Gebara will join. He is a highly experienced executive in the industry, having served as CEO of Walmart in both Chile and Canada. He is currently CEO of La Serenísima, one of Argentina’s leading dairy companies. Ignacio Caride will also join, with more than 20 years of retail experience at companies such as Mercado Libre and Walmart.

“Through this renewal, we aim to strengthen the Falabella ecosystem and its growth ambitions with fresh and expert perspectives that contribute to achieving the ambitious objectives we have set for each of our business units,” said Fernando de Peña, Chairman of Falabella’s Board. He also added, “The Falabella Group Board thanks the members who are concluding their terms. Thanks to their deep dedication, each business has achieved leadership positions in their respective markets.”

Following these changes, the Boards of Grupo Falabella subsidiaries will be composed as follows:

Falabella Retail

Sodimac

Falabella Financial Investments (FIF)

Tottus