Magazine Luiza (MGLU3) says gross debt falls to R$ 4.1 bi after paying R$ 1 bi

Adjusted net financial expense went from R$ 572 mi in 2Q26 to R$ 483 mi in 3Q26. The average CDI (the market's benchmark interest rate) was 15.0% in 3Q25 and 13.7% in 3Q26. The company states that the downward trend in financial expenses stems from facts that have already occurred and been disclosed, and not from an estimate of future results.

The CVM asked why management's comments were not treated as a Material Fact. The company replied that it does not disclose projections or targets (guidance), including for working capital, financial expenses, operating cash flow and EBITDA (earnings before interest, taxes, depreciation and amortization). According to the company, statements on these topics are qualitative comments, without numerical values or targets.

Regarding working capital in 4Q26, the company cites retail seasonality: adjusted working capital went from R$ 2.0 bi in September 2025 to R$ 3.9 bi in December 2025. Inventory was R$ 7.4 bi in September 2026, compared with R$ 7.5 bi a year earlier, and gross revenue from e-commerce with owned inventory grew 14% in October 2026. Regarding cash flow, the chief financial officer said on the earnings call that it was an objective, not guidance.

The company also clarified that the 25% to 30% reduction cited in the story refers to the number of items offered in the 3P segment (sales of third-party products), due to the exit of non-priority categories, and not to the segment's sales.