Vinte Viviendas Integrales B de C : 3Q23 Earnings Release

EARNINGS RELEASE

3Q'2023

Photo: Real Granada (Tecamac)

Segment: Residential

7,600 housing units (92% progress)

Theme parks, multifield, sport areas, comercial zone and Dog-park.

Located less than 15 min. from AIFA airport and new industrial park T-MEX Park

Earnings Release 3Q23

Revenue from home titling grew 7.2% in 3Q'23 vs. 3Q'22, for a

cumulative growth of 10.6% through September.

Mexico City, Mexico, October 18th, 2023 - VINTE Viviendas Integrales S.A.B. de C.V. (BMV: VINTE), a home builder in the development and commercialization of sustainable homes in Mexico, announces its earnings results for the third quarter 2023. The figures in this report are expressed in nominal Mexican pesos and are based on internal non-audited financial statements, which were prepared in accordance with IFRS and current interpretations and may include minor differences due to rounding.

The average price per home in 3Q'23 increased 7.8% compared to 3Q'22, reaching 118 million pesos, while the number of homes titled decreased 1.4%. Revenue from home titling grew 7.2% in 3Q'23.

In 3Q'23, total revenues grew 4.9% vs. 3Q'22, reaching 1,067 billion pesos, while EBITDA grew 4.6%, reaching 193 million pesos, representing a margin of 18.1%, in line with 3Q'22.

In the first nine months of the year, we achieved a 9.5% cumulative growth in total revenues, manily driven by a 7.9% increase in the average price per home.

Vinte continues to diversify its revenue sources by geography and segment, as well as by type of financing. Likewise, Vinte's revenue distribution by price range reflects a solid appetite for its market segments.

In 3Q'23, the leverage level measured as Net Debt/EBITDA was 3.24x, compared to the 3.18x reported in 3Q'22. At the end of the quarter, 62% of net debt was fixed-rate denominated, at an average rate of 9.84% in pesos. This continues to minimize Vinte's exposure to interest rate risk. Of our debt, 63% is sustainable/SDG/EDGE. In addition, we have 630 million pesos in signed, available and long-term lines of credit.

We received a long-term corporate rating upgrade from Verum to 'AA-/M'from 'A+/M', with a stable outlook, the same rating applicable to VINTE 17-2, 19-2Xand 20X SDG bonds; and a 'AAA/M' rating to VINTE 18X bond, from 'AA+/M' (this particular bond has been partially guaranteed by IDB Invest since 2018).

We conducted a filing for a possible issuance of long-term sustainable and SDG bonds. The target amount of the issuances would be up to 1.7 billion pesos at 5 and 7 years with variable and fixed rates, respectively.

On October 11, we paid the second installment of the dividend approved at the Annual Meeting held on April 27, 2023. Vinte has been paying dividends for 15 consecutive years, demonstrating a commitment with shareholder returns and constant financial discipline.

We were recently selected as 3 of the finalists for 2 of the GRI Mexico awards. Our Real Solare development in Querétaro was selected in the Residential Project category and Xante was selected for the Proptech category.

During the quarter, the commercial alliance between e-Group and Grupo Nemx for the construction of the T-MEXPARK was announced, an industrial park in the State of Mexico. This park has an area of more than 4 million m2 with a projected investment of 16 billion pesos that will generate 45,000 direct and indirect jobs in the first phase. Vinte has a solid presence in this area, with almost 12,000 land reserve lots, and this development represents a great opportunity for expansion.

www.vinte.com		2

Earnings Release 3Q23

MESSAGE FROM THE EXECUTIVE PRESIDENT

Housing production in Mexico is at historic lows, 129 thousand homes have been constructed in the last 12 months as of September. As a result, the additional housing demand would be undersupplied in the majority regions of the country where the potential nearshoring would be located. Thanks to the strength and flexibility of our business model, as well as our strategic positioning, we are well prepared for the opportunity increase housing supply in these locations.

Vinte is strategically diversified in terms of geography and segment, with a solid presence in Tecamac, State of Mexico, an area with a Vinte is strategically diversified in terms of geography and segment, with a solid presence in Tecamac, State of Mexico, an area with recent infrastructure development. The proximity of the AIFA airport to the project in an important benefit to our customers (approx. a transfer time of up to 15 minutes), alongside the announcement of the construction of the new logistics hub T- MEXPARK. This park, more than 4 million m2 and with an investment of 16 billion pesos, further grows the industrial inventory of the State of Mexico, already one of the largest in Mexico due to its location with connectivity to the Circuito Mexiquense and railroads.

The country's leading mortgage lenders continue to show strength and all market segments are showing solid appetite, creating a welcome opportunity for us. During the third quarter of the year, we built more homes than were titled, preparing us for a strong fourth quarter. We continue to focus on maintaining a level of housing development that meets the needs of the market.

Given the fundamental conditions of the housing sector in Mexico, we will continue to take advantage of the various opportunities that arise, while addressing the specific needs of our clients with customized solutions that have a positive social and environmental impact, due to the high quality of the communities, access to schools, parks, security, EDGE-certified efficient housing, energy and water infrastructure, such as treatment plants, among other factors.

Sergio Leal Aguirre,

Executive President

www.vinte.com		3

Earnings Release 3Q23

MESSAGE FROM THE CHIEF EXECUTIVE OFFICER

The results for the first nine months of 2023 are in line with our business plan, with revenue growth of 9.5%, EBITDA growth of 12.1%, and net income growth of 8.8%. Furthermore, we already have all the fundamentals in place to achieve an unprecedented fourth quarter for Vinte in terms of revenue growth. We have sales, permits, infrastructure and development in place, as well as construction underway at a high rate to close planned signings and grow between 10% and 15% for the year. With this level of signings for the quarter, we would be generating positive cash flow, reducing debt and leverage, all in line with our annual business plan.

An example of the momentum we already have is the 24% average growth in housing revenues in 11 of our 14 developments. There were 3 with new phases and therefore new permits, but these have already been granted and we will have no impact from permits on fourth quarter revenues. Vinte's project diversification is key to our business model focused on profitability and low risk.

The entire Vinte structure is aligned to achieve the goals set out in our business plan, and I am confident that we will succeed and conclude another year of strong growth for the company. This will be to the benefit of all of us who are part of it, including employees, debt holders, allied banks and shareholders.

René Jaime Mungarro,

Chief Executive Officer

www.vinte.com		4

Earnings Release 3Q23

VINTE GREW 4.9% IN TOTAL REVENUES IN THE THIRD QUARTER AND 9.5% IN THE FIRST 9 MONTHS OF THE YEAR, IN LINE WITH THE ANNUAL BUSINESS PLAN.

1,100 1,000 900 800 700 600 500 400 300 200 100 -

Growth 3Q:

Total Revenue for the Third Quarter of each year
Figures in millions of Pesos
1Q	2Q	1Q

597

634

724

616

654

771

647

788

902

776

883

930

689

818

922

783

895

901

787

974

1,017

923

1,054

1,067

2016	2017	2018	2019	2020	2021	2022	2023
+12.2%	+6.5%	+17.1%	+3.1%	(0.8%)	(2.3%)	+12.8%	+4.9%

Growth last 9 months:	+7.0%	+4.4%	+14.5%	+10.8%	(6.2%)	+6.2%	+7.7%	+9.5%

REVENUE FROM HOME TITLING IN 3Q'23 GREW BY 7.2%.

Revenues from home titling showed an increase of 7.2% on 3Q'23, compared to 3Q'22. Total revenues grew 4.9% compared to the same period in 2022.

(Ps million)

Revenue from home titling (new housing units)

Revenue from sales of lots and commercial premises (and construction services) Revenue from home equipment and technology appliances

Δ% vs 3Q'19 3Q'20 3Q'21 3Q'22 3Q'23 3Q'22

852 842 751 955 1,023 +7.2%

32

30

122

14

2 -89.5%

46 50 28 48 42 -12.4%

Total Revenue

930

922

901 1,017 1,067 +4.9%

www.vinte.com		5

Earnings Release 3Q23

DURING 3Q'23 WE GREW 4.9% IN REVENUES, 4.6% IN EBITDA AND WITH A SLIGHT DECREASE IN NET INCOME.

Income Statement

% Growth

Margins

(Ps. thousands) Titled Homes (units) Revenue Cost of Sales (non-interestbearing) Gross Profit SG&A and Other expenses (income) EBITDA Dep y amortization Comprehensive Financial Result Interest in Joint Ventures Earnings before taxes Income Tax Net Income Non-ControllingInt. Profit attributable to controlling int.

Jul-Sep '22 918 1,017,191 686,087 331,103 146,871 184,233 12,234 36,248 - 135,751 32,580 103,171 4,133 99,039

Jul-Sep '23 905 1,066,899 724,000 342,899 150,224 192,675 11,854 47,830 (91) 132,900 31,896 101,004 4,804 96,200

3Q '2023

(1.4%) 4.9% 5.5% 3.6% 2.3% 4.6% (3.1%) 32.0%

(2.1%) (2.1%) (2.1%) 16.2% (2.9%)

Jul-Sep '22

Avg. Price. 1,092.5

100.0% 67.4% 32.6% 14.4% 18.1% 1.2% 3.6% - 13.3% 3.2% 10.1% 0.4% 9.7%

Jul-Sep '23

Avg. Price. 1,177.2

100.0% 67.9% 32.1% 14.1% 18.1% 1.1% 4.5% (0.0%) 12.5% 3.0% 9.5% 0.5% 9.0%

REVENUE FROM HOME TITLING GENERATED 10.6% GROWTH IN THE FIRST 9 MONTHS OF 2023.

Revenues from home titling showed an increase of 10.6% on the first 9 months of 2023, compared to the same period in 2022, while total revenues grew 9.5% compared to the same period in 2022.

(Ps million)

Revenue from home titling (new housing units)

Revenue from sales of lots and commercial premises (and construction services) Revenue from home equipment and technology appliances

Δ% vs 9M'19 9M'20 9M'21 9M'22 9M'23 9M'22

2,355 2,268 2,337 2,599 2,876 10.6%

108 39 142 33 21 -34.9%

125 122 100 146 146 -0.2%

Total Revenue

2,588 2,429 2,579 2,778 3,043 9.5%

www.vinte.com		6

Earnings Release 3Q23

DURING THE FIRST 9 MONTHS OF 2023 WE ACHIEVED 9.5% GROWTH IN REVENUES, 12.1% IN EBITDA AND 8.8% IN NET INCOME, IN LINE WITH OUR ANUAL BUSINESS PLAN.

Income Statement

% Growth

Margins

(Ps. thousands) Titled Homes (units) Revenue Cost of Sales (non-interestbearing) Gross Profit SG&A and Other expenses (income) EBITDA Dep y amortization Comprehensive Financial Result Interest in Joint Ventures Earnings before taxes Income Tax Net Income Non-ControllingInt. Profit attributable to controlling int.

Jan-Sep '22 2,600 2,778,099 1,915,979 862,121 353,633 508,487 36,777 97,515 - 374,195 89,807 284,388 10,092 274,297

Jan-Sep '23 2,653 3,043,165 2,105,889 937,276 367,502 569,774 38,093 124,901 (315) 406,464 97,123 309,341 9,942 299,399

9M 2023

2.0%

9.5% 9.9% 8.7% 3.9% 12.1% 3.6% 28.1%

8.6% 8.1% 8.8% (1.5%) 9.2%

Jan-Sep '22

Avg. Price. 1,055.9

100.0% 69.0% 31.0% 12.7% 18.3% 1.3% 3.5% - 13.5% 3.2% 10.2% 0.4% 9.9%

Jan-Sep '23

Avg. Price. 1,139.0

100.0% 69.2% 30.8% 12.1% 18.7% 1.3% 4.1% (0.0%) 13.4% 3.2% 10.2% 0.3% 9.8%

Distribution of Vinte's Revenues by Geography

The continued diversification of Vinte's project portfolio by region and segment allows us to gain operating flexibility throughout the quarters.

Distribution of Vinte's Revenues by Geography

560 599 721 992 568 744 838 911 711 793 852 1,082 651 775 842 1,158 734 852 751 1,357 741 903 955 1,488 859 993 1,023 Home Titling Revenue (Ps. Millions)

Mayakoba, Q. Roo

Monterrey, N.L.

La Vista, Qtro.

Puebla, Pue.

Cancun, Q. Roo

Tula, Hgo.

Queretaro, Qtro.

Playa del Carmen, Q. Roo

Pachuca, Hgo.

Estado de México VIM/VIR

Estado de México VIS/VIM

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q

2017 2017 2017 2017 2018 2018 2018 2018 2019 2019 2019 2019 2020 2020 2020 2020 2021 2021 2021 2021 2022 2022 2022 2022 2023 2023 2023

VIS: Entry level housing

VIM: Middle income housing

VIR: Residential housing

www.vinte.com		7

Earnings Release 3Q23

Vinte's Revenue Distribution by Type of Financing

All mortgage sources demonstrated a strong performance in 3Q'23.

				Vinte's Revenue Distribution by Type of Financing
																											Revenues from housing
560	599	721	992	568	744	838	911	711	793	852 1,082 651	775	842 1,158 734	852	751 1,357 741	903	955 1,488 859	993 1,023 titling in millions of pesos
14%	12%		13% 13%		13%	9%	8%	12%		12%	15%	10% 10%	13%	9%	9%	8%	9%	11% 11%	6%	7%	7%	8%	10%	Others
21%	24%	19%
						12%				9%	11%		7%	13% 15% 12%			18%	14%	14%	16% 12%
	11%
			14%		15%	19%	12%				11%		15% 15%	Without mortgage
14%		18%				18% 12%
				10%
	10%	8%													7%		11%		9%
												14%	27%	18% 15%	17%			14%	13%
							22%	19%				26%	25%	16%
	24%			19%		21%	11%		12%	15%	18%				Fovissste
23%	16% 16%			19%
	19%
																					30%
															31%				22%			26%	33%	31%	35%	Infonavit
																	32%	26%
												33%			30%	34%		24%					Tradicional
		35% 33%	32%			44% 38%	35%		37%	32% 33%			3%			5%
31%				35%								5%				Unamos
44%		36% 41%								5%					4%	5%	5%		9%
												4%				8%
											4%					Créditos
												3%			3%
												5%	6%			37%								Banks
													27%			26%	29%	27%	33% 34%	29%	24% 26%
									22%			23%			24%	23%
		18% 20%	22%				19%		20%	17% 18%
17%		13%		16%	17%
9%	11%
1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q	1Q	2Q	3Q	4Q	1Q	2Q	3Q
2017 2017 2017 2017 2018 2018 2018 2018 2019 2019 2019 2019 2020 2020 2020 2020 2021 2021 2021 2021 2022 2022 2022 2022 2023 2023 2023

Others include Cofinavit/Alia2/Info-Fovissste/CFE/Pemex/Others

*Unamos Créditos Infonavit: New Infonavit modality that allows joining the credits of two people without them being married; this means that people can apply for a mortgage loan with family members, friends or their partner, if they live in a common-law relationship (source Milenio).

Vinte's Revenue Distribution by Segment

Similarly, all market segments of Vinte exhibited a strong apetite.

Vinte's Revenue Distribution by Segment

3	0	0	8	7	3	5	1	1	2	5	0	5	4	1	3	1	0	6	8	5	0	4		2		1		2		2		0		9		3		7
63	63	59	64	65	60	65	75	77	63	67	75	80	84	84	82	84	82	90	92	88	95	92	8		4		3		9		6		3		0		7
																							1,0		1,0		1,0		1,0		1,1		1,1		1,1		1,1

Average Price (MXN)

1Q	2Q	3Q	4Q
	2016

1Q	2Q	3Q	4Q
	2017

1Q	2Q	3Q	4Q
	2018

1Q	2Q	3Q	4Q
	2019

		15%
		4%
		22%
		26%
		26%
		7%
1Q	2Q	3Q	4Q
	2020

		7%
		14%
		26%
		24%
		22%
		7%
1Q	2Q	3Q	4Q
	2021

		20%23%21%	16%	21%	Over Ps. 2.0 mm
		12%		12%	12%	11%	Ps. 1.5-2.0 mm
		15%
		29%		29%	33%	30%	Ps. 1.0-1.5 mm
		27%
		21%20%21%27%25%	Ps. 700k-1 mm
		11%	11%	10%	13%13%	Ps. 500k-700k
		6% 4%	6%	Ps. 350k-500k
1Q	2Q	3Q	4Q	1Q	2Q	3Q
	2022			2023

www.vinte.com		8

Earnings Release 3Q23

HOUSING UNITS, AVERAGE PRICE AND TOTAL REVENUES

The average price for 3Q'23 (including revenue from housing equipment) reported an increase of 7.8%. The average price for 3Q'23 stood at 1.18 million pesos, compared to 1.09 million pesos in the third quarter of the previous year.

Vinte's housing volume continues to be lower than the number of homes titled in 2022 in the same period. Despite this, total revenues grew 4.9%, mainly driven by the increase in average price.

	Titled housing units			Average price (Ps. Thousands)
										1,091		1,146
									973
								879
							828
596	624		672		701
4,265	4,236		4,441	4,541	4,347	4,087	3,938	3,932		3,985
2015	2016		2017	2018	2019	2020	2021	2022		LTM
											Sep'23
Revenue from housing and equipment (millions of pesos)
2,542	2,644	2,986	3,182	3,601	3,592	3,833	4,291		4,567
	Total revenue (Ps. million)					4,622
								4,161	4,357	4,360
						3,745
				3,402	3,651
		3,123
	2,752
2,569

2015	2016	2017	2018	2019 2020 2021 2022	LTM LTM
						3Q'22 3Q'23
Annual Growth Total Revenue:
11.4%	7.1%	13.5%	8.9%	10.1% (2.5%) 14.0%	4.7%	6.0%

www.vinte.com		9

Earnings Release 3Q23

FINANCIAL PERFORMANCE

INCOME STATEMENT

Gross Profit

In 3Q'23, gross profit stood at 343 million pesos, an increase of 3.6% when compared to the 331 million pesos recorded in the third quarter of the previous year. This figures translate into gross margins of 32.1% during 3Q'23 and 32.6% during 3Q'22.

Selling and Administrative Expense (SG&A) and Other Expenses

During 3Q'23, SG&A decreased 0.3% compared to 3Q'22, representing a SG&A margin of 13.7% compared to the 14.4% reported in 3Q'22.

EBITDA

In 3Q'23, EBITDA reached 193 million pesos, representing an increase of 4.6% compared to the 184 million pesos reported in 3Q'22. Likewise, EBITDA margin was 18.1% in 3Q'23, remaining constant compared to 3Q'22.

EBITDA (millions of pesos)

									874						819
							762
			717			757	757
							690							Last 12 months
581	627						615
													EBITDA growth:
																					+8.1%

2015 2016 2017 2018 2019 2020 2021 2022	LTM LTM
EBITDA margin:	3Q'22 3Q'23
22.6% 22.8% 23.0% 22.4% 23.4% 16.8% 16.6% 17.4%	17.4%17.7%

Comprehensive Financial Cost (CFC)

Despite the continuous increases in the TIIE, Vinte was able to soften the impact on the CIF, given that 62% of its debt is in fixed rate.

Concept (Ps millions)	3Q22	3Q23	∆&	LTM	LTM	∆&
Sep'22	Sep'23
Interest on Cost of Sales	28.6	44.4	55.1%	141.7	161.6	14.0%
Net Financial Expenses	7.6	3.5	(54.8%)	42.2	10.9	(74.2%)
Total CFR	36.2	47.8	32.0%	184.0	172.5	(6.2%)
CFR to income	3.6%	4.5%	0.9 p.p.	3.5%	3.7%	0.2 p.p.

www.vinte.com		10