Skills for Development

Human rights due diligence

In line with the integration of human rights due diligence processes applicable to business partners and new acquisitions, Mallplaza has begun to incorporate risks and controls from the human rights risk matrix of Open Plaza Perú (a company recently acquired by Mallplaza in Peru) into its own matrix, with the aim of managing risks appropriately.

Human Rights Mitigation & Remediation

Furthermore, in all sites where human rights risks have been identified, mitigation plans have been implemented based on their nature and scope, in accordance with current regulations in the locations where we operate.

Commitment and Programs

At Mallplaza, employees are the protagonists of our culture. For this reason, as a company, we have a series of commitments to safeguard their labor rights, as well as programs and mechanisms to implement these commitments.

• Fair wage: At Mallplaza, we have a compensation management model aimed at attracting, retaining, and motivating the right talent, promoting internal equity and ensuring that compensation is competitive relative to the market. This approach seeks not only to comply with legal standards but also to contribute to the well-being of our employees, with compensation that exceeds the minimum wage and covers their basic needs. To structure compensation, we use job evaluation tools that allow us to assign salary levels according to the responsibility and complexity of each position, also considering updated market information. We also have formal review processes that recognize individual performance, reinforcing a culture of development and meritocracy.

• Working Hours and Overtime: At Mallplaza, we promote a work-life balance, establishing practices that promote the well-being of our employees. These include reduced hours on Fridays, which end at 2:00 PM at the headquarters and at 3:00 PM at our malls (except for those positions that, due to the nature of their duties, require another option). This measure also applies on the eve of key dates such as Easter, National Holidays, Christmas, and New Year’s Day, all in line with the 40-hour law. Additionally, at Mallplaza, we use an electronic attendance registration platform to ensure compliance with the workday. This allows us to monitor hours worked, including those that exceed the established workday. In the event of overtime, which is previously agreed upon between the employee and their direct supervisor, payment is guaranteed in accordance with current regulations. This approach seeks transparent, individualized, and fair management of working time, reinforcing our commitment to a responsible work culture.

• Vacation entitlement: At Mallplaza, we actively promote the appropriate use of vacation time as a fundamental part of work-life balance. To this end, we periodically monitor the use of vacation days, sending reports to both employees and their supervisors, encouraging timely vacation scheduling. Additionally, ahead of peak demand periods (such as summer and winter), this invitation is reinforced through corporate communications that emphasize the importance of rest. As part of our benefits, Mallplaza also provides a vacation bonus and grants five additional days off per year, proportional to the start date, which can be used after prior coordination with management. These initiatives help ensure that our employees make effective use of their vacation time and receive the associated benefits in accordance with current labor regulations.

• Mass Layoffs: At Mallplaza, in exceptional situations where we have had to carry out mass layoffs, we are committed to ensuring that these are managed with the utmost respect and sensitivity toward the people involved. We ensure that each stage of the process is carefully planned, considering both those leaving the organization and those who remain. To this end, a structured plan is developed that includes clear protocols for leaders, internal communication guidelines, and a checklist of actions to be taken, with the aim of ensuring an orderly and humane execution. Dismissed employees are given their corresponding severance pay, proportional payment for outstanding vacation time, and one month’s notice. We also seek to ensure that these payments are processed in advance of what is legally required, in order to facilitate their transition.

• Preparing for industry changes: At Mallplaza, we recognize the impact that technological advances, such as artificial intelligence, have on our industry and the way we work. Therefore, we strive to provide our employees with the tools and knowledge necessary to adapt to these changes and maximize productivity, simplify processes, and increase company revenue.

To this end, we seek to build an AI mindset through a culture of continuous learning, promoting spaces for experimentation, accompanied by training programmes and training in new technologies, allowing each person to strengthen their skills, keep up to date and respond effectively to the new challenges of the environment. Over the last year, we have placed special focus on the dissemination and responsible use of AI tools, guiding our teams in their adoption as part of their professional development.

• Equitable Compensation: At Mallplaza, we actively promote gender equity and equal opportunities at all levels of the organization. As part of this commitment, we periodically monitor compensation structures to identify and address potential pay gaps between men and women in comparable roles. This analysis is conducted with a technical and systematic approach, considering factors such as job responsibilities, experience level, and performance.

• Social Protection: At Mallplaza, we are committed to the well-being of our employees through a range of benefits that go beyond what is required by labor legislation. These benefits are aimed at improving quality of life, both personal and family, and supporting our teams throughout the various stages of their careers. Our offering includes health benefits, work-life balance support programs, and specific benefits for those approaching retirement, facilitating their transition with appropriate tools and support.

These commitments and mechanisms to safeguard labor rights extend to all our operations.

Gender breakdown

Development Programs

Complementing what is stated in our 2024 Annual Report, our development programs include the following elements:

• Transition programs: At Mallplaza, we recognize career paths and the co-construction of a history of achievements and learning. To this end, we have recognition programs such as “Pride in a Great History,” where we recognize those who leave the company after more than 30 years, through a mutually agreed decision, providing financial benefits and cross-cutting support to live our Purpose of Enjoying Life. In turn, employees who leave the company through involuntary resignation and meet the defined requirements are offered an outplacement program to support them in their transition to their next career challenge.

• Training program coverage: At Mallplaza, we also have training programs aimed at employees with fixed-term or part-time contracts. Upon arrival, these employees participate in the same onboarding process as those with permanent contracts, accessing a learning path that includes regulatory and business content. In addition, we offer cross-curricular programs, such as basic, intermediate, and advanced Excel courses, available to all employees, regardless of contract type. This reflects our commitment to skills development and continuous learning throughout the organization.

Long Term Incentives

In addition to what is stated in our 2024 Annual Report, at Mallplaza we have a long-term incentive plan aimed at encouraging the retention of our key executives and aligning their management with the creation of sustainable value for our shareholders. This plan complements the annual performance bonus and incorporates qualitative and quantitative metrics, both internal and external, in line with the company’s strategy. The mechanism contemplates the acquisition of shares for participants, which are released after a three-year retention period. Although the program is primarily aimed at first- and second-line executives, in certain cases it can be extended to other organizational levels (i.e., three or more levels below General Management) when it comes to strategic roles that require an additional incentive for their retention and development

Performance evaluation

In addition to what is stated in our 2024 Annual Report, at Mallplaza we have the following performance evaluation mechanisms:

• Team evaluation: At Mallplaza, performance is managed through an annual KPI model defined according to the responsibilities and objectives of each role. This model is applicable to all levels of leadership—including Corporate Managers, Managers, and Assistant Managers—and is extended to their respective teams, reaching 100% of the organization. The model promotes collaboration within teams, as members share common indicators with equal weighting, which reinforces alignment and collaborative work. In turn, each team has differentiated KPIs based on their role, allowing for an evaluation tailored to the specific needs of each area. These indicators are monitored monthly, facilitating ongoing performance evaluation and timely decision-making for continuous improvement.

• Agile Conversations: At Mallplaza, we promote a culture of leadership, where we empower every employee, regardless of their role, to foster leadership in each function they perform, based on five principles: Promote Talent, put the customer at the center, seek opportunities that generate impact, promote simple and agile processes, and be a single, passionate and integral team. These principles guide us in the decision-making that will lead us to achieve our dream. To ensure this culture is lived at Mallplaza, we have learning programs, a communications plan, and leaders who reinforce this through feedback. While we have two formal feedback channels, we also have and reinforce a culture of ongoing feedback, where leaders guide employees in an agile and timely manner to put this culture into action and thereby drive better business results.

• Periodicity: The performance review is held annually. However, action plans are generated and frequently reviewed to drive their achievement. Through feedback (formal twice a year and informal) and then relevant instances, whether of results (achievement) or in instances of strategy monitoring (periodic value review, quarterly committees, coordination meetings or 1:1)

Health and Safety

In addition to what is stated in our 2024 Annual Report, at Mallplaza we have an Occupational Health and Safety Policy, which is an integral part of our occupational health and safety management system, based on ISO 45001, which ensures the well-being and integrity of our employees.

As part of this, the company includes among its guidelines the identification of those aspects that present the greatest risks to employee safety. Furthermore, based on the risk assessment and hazard identification matrix, these risks are assessed, identifying the most critical ones to ensure that actions aimed at eliminating risks are implemented.

It is worth noting that the Occupational Health and Safety Policy states that Mallplaza will promote that its stakeholders adjust their conduct to the established principles, including suppliers and contractors. In this regard, our company implements a series of requirements for suppliers and contractors, including healthy and safe working environments and any other legal and/or labour regulations in force with respect to its workers. As indicated in the integrated report, our suppliers are assessed for compliance with these requirements. Our policies in this area are validated by the Board of Directors.

Health and well-being of business partners

At Mallplaza, we are committed to promoting healthy lifestyles among store employees and our tenants. To this end, we have formal partnerships with gyms located in our urban centers, such as Energy Fitness, UFC GYM, and Studio 25, which offer special discounts and preferential conditions for store employees. These initiatives reinforce our commitment to contributing to the well-being and quality of life of those who are part of our Mallplaza community.

Furthermore, at Mallplaza, we recognize the importance of mental health as a key component of workplace well-being. Therefore, we systematically manage psychosocial risks in our operations, implementing assessment surveys in accordance with current regulations in each country where we operate. These measurements allow for the timely identification of psychosocial risk factors and guide preventive actions to protect the mental health of our teams.

Wellbeing programmes

At Mallplaza, we have a systematic program of periodic inspections of stores operating in our urban centers, with the goal of promptly identifying hazards and ensuring their elimination. These inspections allow us to monitor compliance with established Occupational Health and Safety (OHS) objectives and verify the correct implementation of our standards for controlling risks associated with store operations. This process also facilitates the definition and implementation of action plans to effectively address identified gaps, promoting safe environments for workers and visitors.

Stakeholder Engagement Policy

Our Community Relations Policy seeks to establish the principles of interaction with our communities, fostering a relationship of trust. Through this document, Mallplaza seeks to generate shared value, based on an identification focused especially on local stakeholders and the most vulnerable groups, from whom actions are needed to contribute to their quality of life. Likewise, various channels are available for these stakeholders to raise their concerns, thus generating greater opportunities for dialogue.

This Policy extends to both operations and the value chain.

Stakeholder Engagement Programs

Identification of barriers and installation of capacities: At Mallplaza, we work to strengthen communication with local communities and stakeholders, ensuring that everyone can express their concerns and be heard. Through neighborhood dialogues and a review of relevant materials, we identified communication barriers such as limited access to digital channels, complexities in technical information, and time restrictions for participation. To overcome these and implement capacity, we implemented in-person socializations, customer service offices, regular meetings, and instant messaging groups throughout the mall, enabling real-time contact. These actions, along with clear language and flexible scheduling, help us build relationships based on trust, transparency, and effective dialogue.

Monitoring trading business partners

At Mallplaza, we constantly monitor the dynamics of our tenants, with the goal of strengthening long-term relationships and ensuring that each store has the appropriate conditions for its development.

In terms of monitoring their turnover rate, we periodically evaluate the arrival and departure of brands, as well as opportunities to reorganize the commercial mix, offer new spaces according to the needs of each retail partner, and relocate stores to more visible spaces, if available. These actions seek to enhance the performance of our retail partners and provide a better experience for our visitors.

Likewise, we understand that the success of our tenants is fundamental to the vitality of our urban centers and communities. Therefore, we work to support them in their growth processes and, when appropriate, in relocations or early contract terminations, always seeking agreements that benefit both parties and the environment in which we operate.

Reducing barriers

At Mallplaza, we bring essential services closer by locating our urban centers in strategic areas with excellent connectivity to the subway, trains, and buses. We also promote sustainable mobility with safe bike racks for those who travel by bike. In each Mallplaza, people find health centers, pharmacies, supermarkets, and educational institutions, addressing multiple needs in one place and optimizing their time. In this way, we contribute to improving the quality of life in our communities. Last year, Mallplaza Vespucio provided space to the organization Déficit Cero to disseminate information about the Network for Housing and the City. This initiative allowed communities to access more and better information about the different housing options in Chile.

Promotion of inclusive centres

At Mallplaza, we work to ensure our spaces are inclusive and promote the well-being of all. We organize activities such as walks for seniors with various partners, encouraging physical activity and social interaction. In collaboration with municipalities, we conduct health operations and vaccination campaigns throughout the year. Our centers have accessible infrastructure that meets universal accessibility regulations in Chile and AIS certifications in Peru and Colombia. We also offer hearing aids for people with neurodivergence who need reduced sensory stimuli. In addition, we train our contact staff in diversity and inclusion to provide empathetic and conscious care. Thus, we strive to make Mallplaza a welcoming and accessible space for all.

Local community education projects

At Mallplaza, we believe in young talent and its key role in the development of our communities. Therefore, we offer specific professional internship opportunities that allow students from different areas to integrate into our organization, both at our headquarters and in our urban centers. These experiences strengthen the link between academic training and the business environment, generating real opportunities for the local community.

Through these internships, students contribute their knowledge and continue their professional development, supported by tools such as Mallplaza Academy, our internal training platform.

In addition, between January and March, we run our Summer Internship Program, led by the Talent Assistant Manager, which offers an intensive three-month experience at our headquarters. During this period, students work on high-impact projects in strategic areas of the business, in a collaborative environment that fosters applied learning, innovation, and real contributions to our organizational challenges. They also access a range of practical workshops focused on key skills for job placement, such as effective communication, personal branding, time management, and 21st-century skills.