#14Q22 EARNINGS PRESENTATION February 28, 2023 GPA Super BEM minuto mini James GPA Malls éxito Carulla SUPER SURTIMAX MAYORISTA Devoto The Géant Libertad viva Paseo extra MERCADO COMPRE Pdow Acúcar extra#2AN Pão de Açúcar DISCLAIMER Statements contained in this release regarding the Company's business outlook, projections of operating financial profit and loss, the Company's growth potential, and related to market and macroeconomic estimates constitute mere forecasts and were based on the beliefs, intentions, and expectations of the Management regarding the future of the Company. Those estimates are highly dependent on changes in the market, the general economic performance of Brazil, the industry, and international markets and, therefore, are subject to change. GPA 2#3alis 4Q22 HIGHLIGHTS Marcelo Pimentel, CEO#44Q22 HIGHLIGHTS TOP LINE GROWTH AND IMPROVEMENTS IN IMPORTANT INDICATORS 01 06 ESG & CULTURE TOP LINE 02 GPA PROFITABILITY alimentando sonhos e vidas NPS 05 EXPANSION 04 DIGITAL I - Excluding gas stations; 2 - Desconsidering sales from hypermarkets in 4Q21 03 TOP LINE¹ ΟΙ Total sales growth of 16.8% e 7.3% on same-store sales¹ vs 4Q2I ■ Same-stores sales speed up over 3Q22, +7.3% vs. +6.6%; ■ Reduction of 110bps stockouts level vs. 4Q21; ■ Increase of 290bps in the share of perishables over total sales vs. 4Q21, within 420bps progress in Pão de Açúcar banner, reaching share of 47.9% in 2022 02 NPS Progress of +1,960bps vs. IQ22. Improvement in all banners, highlight to Pão de Açúcar (+2,020bps) Advance on the top 3 detractors: ■ Reduction of queues with the self check-outs implementation (82% of supermarket stores and 32% of proximity stores with self check- outs); ■ Reduction of product price divergence; ■ Gradual fall in stockouts since beggining 2022 03 DIGITAL Food retail leader with R$ 1.7 billion in GMV in 2022, within R$ 448 million in 4Q22, growth of 7.0%² ☐ 60 minutes delivery ("Pra já") available in 200 stores; ■ Same Day Delivery reaches 70% of orders vs. 40% in 2021; " Speed up of express operation (up to 30 minutes) with iFood partnership in 62 proximity stores; Partnership with Magazine Luiza extended besides new operations with Shopee and iFood Shopping; ■ Increase of +270,000 app active users in the month between 4Q22 and 3Q22, reaching 1.2 million active users in the month +1960bps IQ22 2Q22 3Q22 4Q22 NPS Progress GPA 4#54Q22 HIGHLIGHTS TOP LINE GROWTH AND IMPROVEMENTS IN IMPORTANT INDICATORS 01 06 ESG & CULTURE TOP LINE 02 04 EXPANSION In 4Q22: ■ 29 new stores Minuto Pão de Açúcar; ■ 4 new stores Pão de Açúcar; 6 new stores Mini Extra; Totaling 72 new stores in 2022, in line with expansion plan of 300 new stores up to2024; ▪ 24 retrofit to the G7 model (reaching 60% of total of stores), forecast for all stores in 2023 65 05 PROFITABILITY Adjusted EBITDA reaches 6.1% in 4Q22 (7.0% in 2022). Adjusted EBITDA margin recovery plan to 8%/9% in 2024, focusing in three frontages: ■ Commercial margin, ongoing projects ■ Reduction of Breakage: projects and ongoing process. Reduction of 100bps on breakage 4Q22 vs. IQ22 ■ SG&A: headquarters resizing 100% concluded further other ongoing projects. In 4Q22, dilution of 220bps GPA PROFITABILITY alimentando sonhos e vidas NPS 05 EXPANSION 04 DIGITAL 03 No Pão de Açúcar CSA URATU mine Pão de A CIDADE TER ESSE TIME VENCEDOR NA DE UMA NOVA HISTÓRIA COM O PÃO OS(AS GPA 5#64Q22 HIGHLIGHTS TOP LINE GROWTH AND IMPROVEMENTS IN IMPORTANT INDICATORS 01 06 ESG & CULTURE TOP LINE 02 GPA PROFITABILITY alimentando sonhos e vidas NPS 05 EXPANSION 04 DIGITAL 03 TITY 06 ESG & CULTURE FIGHT AGAINST CLIMATE CHANGE We've reached 97% of médium-voltage power consumed in stores from renewable sources (Free Market), target of 100% in 2024. Emission Scopes I and 2 within more than 40% of reduction in comparison to 2015 base year DIVERSITY AND INCLUSION PROGRESS Women in leadership positions reached 38.3% in 2022, surpassig the target defined for the year in 80bps, in line with our commitment of 40% up to 2025. Womanly Leadership Program, started in 2019, has formed more than 700 women, within 20% already promoted to leader positions Natal da Solidariedade SUA DOAÇÃO FAZ A DIFERENCA PARTICIPE! SOCIAL IMPACT 4.2 million complementary meals in 4Q22 with donations of fruits and vegetables for food banks and social partner organizations COLA COLA COLA COLA ALIMENTOS DA CESTA BASICA NASIONS DE OS GPA 6#7АІЯ Pão de Açúcar FINANCIAL PERFOMANCE Guillaume Gras, CFO#8FINANCIAL PERFORMANCE NEW GPA BRAZILI PROFORMA TOTAL SALES (R$ milhões) +7.3% SAME-STORES +5.2% SAME-STORES SALES² +6.6% 18,452 SALES² 17,317 +12.3% 45.6% 5,277 45.1% 4,700 46.5% 45.4% 31.1% 31.6% 32.1% 31.2% 12.7% 14.1% 12.6% 13.8% 10.0% 0.9% 6.3% 1.2% 10.2% 0.9% 7.7% 1.1% 4Q2I 4Q22 2021 2022 Pão de Açúcar Other Business Mercado Extra Compre Bem Gas stations Proximity I - GPA Brazil does not include the results of Stix Fidelidade, Cheftime and James Delivery; 2 - Excluding gas stations; 3 - Excluding sales from hypermarkets in 4Q21 The New GPA Brazil¹ total sales added R$ 5.3 billion in 4Q22, increase of de 12.3% or 16.8% excluding gas stations The same-stores growth of 7.3% in comparison to 4Q21, excluding gas stations In e-commerce, the GMV stated R$ 448 million in 4Q22 (+7.0% vs. 4Q21)³ online penetration of 10.5% of sales. Increase in Same-stores sales in 4Q22 with improvement in all banners vs. 3Q22: Highlight to proximity format with double digit growth of 17.3% Pão de Açúcar +6.7% boosted by the increase of perishable penetration strategy and by the strong growth of basic grocery. Sequentially growth improvement from IQ22 MERCADO extra COMPRE BEM SUPERMERCADOS +4.1% of improvement over 3Q22 (+2.0% YoY), considering the evolution in Mercado Extra banner growth GPA 8#9FINANCIAL PERFORMANCE NEW GPA BRAZILI PROFORMA EBITDA and ADJUSTED MARGIN 8.4% 6.1% 368 297 4Q2I Adjusted EBITDA 4Q22 I - Considers equity equivalence results and adjustements of IFRS16 Adjusted EBITDA Margin 8.8% 1,427 7.0% 1,200 Adjusted EBITDA proforma totaled R$ 297 million in 4Q22 and the adjusted EBITDA margin reached 6.1%, vs. 8.4% in 4Q2I The margin reduction was impacted by the gross margin pressure, considering the double-digit inflation, besides partial passthrough to the sales price, partially offset by an efficiency gain in SG&A Selling, General and Administrative expenses has reduced 1.8% vs. 4Q21, representing 17.0% of net revenue, representing an efficiency gain of 220bps when compared to 4Q21 and 150bps vs 3Q22 In 2022 adjusted EBITDA proforma totaled R$ 1,2 billion, with adjusted EBITDA margin of 7.0% 2021 2022 GPA 9#10FINANCE PERFORMANCE GRUPO ÉXITO TOTAL SALES (R$ million) +20.8% SAME-STORES SALES¹ 3.9% 28,337 Grupo Éxito total sales totaled R$ 7.8 billion in 4Q22 (-6.8% YoY) mainly impacted by strong Colombian peso depreciation vs. Real in the period (-22%). Same-stores growth of 17.9% in constant currency in comparison to 4Q2I In e-commerce, GMV registered R$ 709 million in 4Q22 (-9.5% vs. 4Q21) and online penetration of 9.5% 27,264 +16.3% SAME-STORES 8,419 SALES¹ -6.8% 7,846 +12.1% in CCI -12.2% in BRL +13.7% in CCI +21.2% in BRL +95.0% in CC¹ -8.9% in BRL 4Q2I 4Q22 2021 2022 Colombia Uruguay Argentina I-In constant currency Sames-stores sales¹: - Colombia: +12.1% in 4Q22 growth above inflation with expressive result explained by the greater omnichannel share (+50bps vs. 4Q21), by the solid performance of cash & carry and positive trend in food in the quarter - Uruguay: +13.7% no 4Q22 – significant growth of Fresh Market stores (+17.2 YoY), with high share in sales (52.9%) - Argentina: +95.0% in 4Q22 – growth above inflation with increase of traffic in stores, good performance of commercial galleries and consolidation of the real estate business in the country GPA 10#11FINANCIAL PERFORMANCE GRUPO ÉXITO EBITDA AND ADJUSTED EBITDA MARGIN 10.6% 8.6% 802 599 4Q2I 4Q22 Adjusted EBITDA I - Considers equity equivalence results and adjustements of IFRS16 Adjusted EBITDA margin 8.8% 7.8% 2,153 1,959 Adjusted EBITDA totaled R$ 599 million in 4Q22. Adjusted EBITDA margin reached 8.6% in the quarter, reduction of 200bps vs. 4Q2I mainly impacted by the one-off effect in the quarter adjustment of the inventory with impact on gross margin and higher level of inflation in the three countries considered. EBITDA Year to Date has reached R$ 2.0 billion, adjustedd EBITDA margin of 7.8% 2021 2022 Sales, general and administrative expenses reduced 2.3% vs. 4Q21, representing 17.1% of net revenue, 100bps higher when compared to 4Q2I and II0bps lower vs. 3Q22 GPA II#12NET INCOME CONTROLLING SHAREHOLDERS CONSOLIDATED NORMALIZED NET PROFIT RECONCILIATION OF R$ (146) MILLION -1,102 285 288 288 309 227 -313 -127 -146 Net profit (Loss) 4Q22 ICMS Contingence CSLL Provision Deferred Income Tax Colombia (tax reform) Labor contingences Restructuring Tax credits correction Tax income on excepcional Excepcional elements: R$ 956 million Normalized net profit (Loss) 4Q22 GPA 12#13FINANCIAL LEVERAGE CONSOLIDATED 0.6x 698 Net Debt¹ & Net Debt/Adjusted EBITDA² Net Debt Evolution - ProForma (R$ million) (698) 512 (1,726) 4Q2I (265) (2,027) (1,018) 2,158 (990) 2.5x 2.3x 4Q21 ND Operational Generation CAPEX Interest Discontinued Activ. Hiper Dividends Discontinued 4Q22 ND Éxito 2,943 • 2,027 · GPA Brazil + Grupo Éxito Reinforcement of the financial structure: Reduction of R$ 0.9 billion of net debt in 4Q22 vs. 4Q2I proforma Brazil Solid cash position of R$ 3.8 billion, representing 3.7x of short-term gross debt of R$ 1.0 billion, R$ 0.5 billion refinanced by the new CRI issuance (debentures) Proper Net Debt¹/Adjusted EBITDA² level of 2.3x in 4Q22, considering Grupo Éxito discontinuity • 4Q2I Proforma Brazil³ 4Q22 Net Debt Adjusted EBITDA² Hypermarket: transaction 100% received, with net cash in of R$ 2.1 billion for debt reduction GPA 13 I - Includes not prepaid credit card portfolio; 2 - Adjusted EBITDA IFRS 16, accrued in the last 12 months. The Company does not consider the lease liabilities related to IFRS 16 when calculating the debt; 3- Disconsiders net debt and Grupo Éxito EBITDA;#14SEGREGATION TRANSACTION ESTIMATED SCHEDULE GRUPO ÉXITO I Feasible in IQT23 1 Creditor' Waivers and Debtholders Concluded 2 Filling BDR Level II Program CVM filling concluded ✓ 3 Filling ADR Level II Program 4 Capital Reduction 5 Éxito BDR Level II Ongoing process ESM of GPA Held Capital Reduction 60 days' Opposition Period by Creditors Legal Term 04/15/2022 Record in CVM/B3 2Q23 6 Éxito ADR Level II Record in SEC 7 Conclusion 2Q23 Delivery of BDRs Level II and ADRs Level II 2Q23 GPA 14#15Q&A GPA obrigado por sua visital OSTO A cada compra que você faz no Pão, te oferecemos mais do que você gosta. Compre também pelo Appe em nosso site. e www.gpari.com.br Pão Açúcar MERCADO extra Auto-atendimento e 0 Auto 02 COMPRE BEM extra minuto SUNELRY mini GPA Malls éxito Carulla SURTIMAX Super INTER MAYORISTA viva Devoto Disco Géant Libertad Paseo LEBEDPAD (orb#16Tomate Grape FINAL MESSAGES Marcelo Pimentel, CEO#1706 FINAL MESSAGE NEW GPA – STRATEGIC PILLARS ESG & CULTURE 01 TOP LINE 02 GPA PROFITABILITY alimentando sonhos e vidas NPS 05 EXPANSION 04 70 DIGITAL 03 GPA 17