New Risk • May 11
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 22% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 69% per year over the past 5 years. High level of non-cash earnings (22% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (2.7% net profit margin). Announcement • Apr 14
Ollamani, S.A.B., Annual General Meeting, Apr 30, 2026 Ollamani, S.A.B., Annual General Meeting, Apr 30, 2026. Location: ave santa fe 481 10th floor, colonia cruz manca, zip code 05349, cuajimalpa de morelos, mexico Mexico New Risk • Mar 15
New major risk - Revenue and earnings growth Revenue has declined by 1.3% over the past year. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If revenues are declining, then it is difficult for the company to prevent its earnings from declining as well. A trend of falling revenue can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Revenue has declined by 1.3% over the past year. Minor Risk Profit margins are more than 30% lower than last year (0.3% net profit margin). 
