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: Mallplaza is committed to avoiding excessive working hours. To this end, we promote work-life balance by establishing practices that foster the well-being of our employees. These include a reduced workday on Fridays, ending at 2:00 PM at our headquarters and at 3:00 PM at our shopping centers (except for those positions that, due to the nature of their duties, require a different schedule). This measure is also applied on the eve of key dates such as Easter, national holidays, Christmas, and New Year’s, in accordance with the 40-hour workweek law. Furthermore, at Mallplaza, we use an electronic attendance tracking platform to ensure compliance with working hours. This allows us to monitor hours worked, including those exceeding the established workday. In the case of overtime, 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..

• Paid Annual Leave: In accordance with the regulations of the countries in which we operate, we are committed to paying our employees their annual leave. We actively promote the proper use of vacation time as a fundamental part of work-life balance. To this end, we regularly monitor vacation day usage, sending reports to both employees and their supervisors, and encouraging timely vacation planning. Furthermore, before peak periods (such as summer and winter), we reinforce this recommendation through corporate communications that emphasize the importance of rest. As part of our benefits package, Mallplaza also offers a vacation bonus and grants five additional days off per year, proportional to the start date, which can be taken with prior coordination with management. These initiatives help ensure that our employees make effective use of their vacation time and receive the corresponding 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​

• ​Coaching and Mentoring​

At Mallplaza, we have continued to strengthen our talent development initiatives, emphasizing the holistic growth of our teams. In this context, we promoted the use of the Winston platform, through which we have 15 active coaching licenses. This tool allowed us to complement our development offering with a flexible and accessible approach. Additionally, we reinforced these actions through in-person individual coaching sessions with certified coaches, as well as group coaching sessions, aimed at enhancing leadership, collaboration, and performance skills.​

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• Team and Network Learning​

We actively promote learning through teams and networks, understanding that development occurs not only through formal settings, but also through interaction between people and in collaborative contexts. Within this framework, we promoted workshops focused on customer service, which were designed in a cross-functional manner, integrating not only operations and customer experience teams, but also employees from the legal, billing, and sales departments. This approach allowed for the incorporation of multiple perspectives on service, enriching the analysis and decision-making. The participation of different areas was key to comprehensively understanding the customer journey, identifying critical points and opportunities for improvement at each stage of the process. These sessions fostered collaborative learning, the exchange of perspectives, and the co-creation of solutions, strengthening a systemic view of service.​

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• Cultural Education​

Through inclusion training programs, respect for different cultures, practices, and perspectives is actively promoted, aligning teams under common principles of diversity and inclusion. These initiatives materialize through workshops, training sessions, and learning spaces aimed at raising awareness among people about different cultural realities. We create these spaces online so that our collaborators can interact and learn about the realities of each country, and sometimes the problems appear in the same way; they share good practices.​

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Development Programs

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

• Transition programs: At Mallplaza, the management of the employment transition is approached by considering the different circumstances under which individuals end their relationship with the company. In this context, and depending on the reasons for contract termination, in some cases transition support programs are offered, which may include outplacement services aimed at facilitating reintegration into the workforce. These services include personalized support, job search tools, and guidance during the process following departure from the organization. This approach reflects Mallplaza’s commitment to responsible people management, promoting a supported and respectful transition, in line with its principles of sustainability and talent development.

• 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)

Culture Survey​

During the 2025 edition of our annual Culture Survey, which achieved a historic 93% participation rate, we comprehensively evaluated key dimensions of the employee experience. This measurement explicitly includes aspects of job satisfaction (external motivation), purpose (internal motivation), happiness, and stress management/well-being, alongside indicators of pride, belonging, and recognition.

Gender breakdown​​

For 2025, Mallplaza established a clear commitment to gender equity, setting a 40% target for women’s representation in leadership roles (allmanagement positions). We successfully exceeded this objective, closing the fiscal year with 40.6% of all management and sub-management positions held by women, driven by our structured female mentorship and development programs.​

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.

Measurement of Business Partner satisfaction

Mallplaza measures the NPS of 100% of its commercial partners with active contracts, with the aim of evaluating their experience, identifying opportunities for improvement, and strengthening the quality of commercial relationships. These measurements are carried out using a standardized instrument with a scale of 0 to 10, on a quarterly basis in Chile and biannually in Peru and Colombia. The results are analyzed each quarter by the commercial, operations, and experience departments. Based on the findings, action plans and specific improvements are defined, ensuring a traceable, periodic process geared toward continuous improvement.

Integrated security management in Mallplaza operations and spaces

At Mallplaza, the safety of our visitors is a strategic priority and an essential part of our integrated risk management. To this end, we have a structured system of control, response, and continuous improvement that includes prevention, monitoring, training, and coordination with external authorities in the three countries where we operate.

Safety management related to protecting the lives of our visitors and employees is led by the Risk Prevention and Sustainability Department. This department leads emergency planning and response at the corporate level, a process that is carried out operationally through the activation of a COGRID Committee (Risk and Disaster Management Committee) in each shopping center. Each mall has an external security chief and supervisor (focused on security and surveillance), a risk prevention specialist, an emergency coordinator, and coordinated teams that report periodically to headquarters. This structure ensures formal managerial responsibility for people’s safety and an active and effective chain of response to incidents.

We apply a systematic assessment of risks associated with facilities and services, which includes monthly inspections of food courts, parking lots, and common areas, updating mandatory risk matrices, and specific operational and maintenance programs for elevators and escalators. 100% of the infrastructure is inspected annually and findings are corrected through action plans coordinated with the maintenance department and specialized suppliers.

We strengthen our preventive culture with an Annual Training Program aimed at all internal and external employees (security, general services, parking, and maintenance) and our store operators’ staff. The training includes classroom instruction and practical training designed for coordinated action in case of an emergency, ensuring that everyone who works in our shopping centers knows how to effectively assist visitors in the event of a critical incident. In addition, the Security Department conducts monthly tests to assess the response capacity of security teams in the event of various emergencies. The objective is to ensure the highest standards of care and protection for our customers, as well as to guarantee full compliance with the legal requirements enforced by the Carabineros de Chile.

Each shopping center maintains a detailed Emergency Plan that is formally submitted to the corresponding Fire Department. To ensure maximum effectiveness of our response, rigorous coordination with external authorities is carried out every six months. This collaboration culminates in disaster risk management drills involving firefighters, police (or local police), ambulances, and municipal authorities, in which we simulate complex risk scenarios (fires, earthquakes, bomb threats, chemical spills, among others). The drills are deliberately carried out during operating hours, with the public present, to test the chain of command and the ability to assist visitors in real conditions. Emergency plans are customized to the reality of each mall, taking into account local legislation, specific geographical and infrastructure variables, such as exposure to tsunami risk, building height, and maximum capacity.

Whenever an incident affecting visitors or workers occurs, it is recorded and analyzed through the company’s digital platform, which enables traceability, evidence management, root cause investigation, and follow-up on corrective actions. Each event is evaluated by the mall’s risk prevention officer and by corporate management, ensuring that deviations are closed and recurrences are prevented.

In addition, there are defined procedures for dealing with crimes in different scenarios. These protocols involve the participation of the external security manager and supervisor, together with the head of Corporate Security, who coordinate the response to any incident. This includes contacting the victim and witnesses, reviewing video surveillance records, and gathering all relevant information. In these procedures, protocols involving direct contact with customers are always prioritized. The company’s digital platform consolidates indicators such as accident rates, evacuation times, inspection compliance, and progress on corrective measures, which are reviewed monthly by the Risk Prevention and Sustainability Department and the Security Department. This ensures ongoing monitoring of security performance and timely, data-driven decisions.

At Mallplaza, we understand that safety is not just an operational requirement, but an ongoing commitment to the trust of our visitors and employees. That is why we maintain a culture of prevention and continuous improvement that allows us to anticipate risks, respond effectively, and ensure safe experiences in each of our shopping centers. This comprehensive effort reflects our conviction that protecting people is the foundation for sustainable and responsible development in the three countries where we operate.

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.

Integration of Communities​

• Neighbor Card: At Mallplaza, we support initiatives that allow low-income residents to access shopping and savings benefits. Therefore, on July 18, 2025, thanks to a partnership with the Municipality of La Florida and the Corporation for the Promotion of Community Development (COFODEP), we opened the “Vive La Florida” Neighbor Card service module at Mallplaza Vespucio. In this space, residents of the district have a new option to obtain the card, which offers benefits, deals, and discounts at more than 400 establishments in the areas of health, education, culture, sports, and local commerce. The opening of this module reaffirms our commitment to facilitating residents‘ access to opportunities that positively impact their quality of life, knowing that we are one of the most frequented places in the district.​
• Plaza Emprende: In line with our commitment to reducing barriers to entry and fostering local economic development, we operate the Plaza Emprende program. Through this initiative, last year we facilitated access for 1,428 local entrepreneurs near our urban centers in Chile, Peru, and Colombia, focusing on businesses whose primary livelihood depends on their entrepreneurial ventures or that belong to communities with incomes below the city’s median. To enable their initial business setup, we implemented an affordable pricing scheme through a 100% free or preferential-rate (social cost) collaboration model, which serves as an initial adoption incentive that reduces the initial financial risk. Furthermore, we complemented this benefit with technical training programs to ensure the sustainable scaling of their businesses.​