#1Walmart México y Centroamérica Wal-Mart Stores, Inc. (NYSE:WMT) & Walmart de México y Centroamérica (BMV:Walmex) 2014 International Meeting for the Investment Community Mexico City February 24-25, 2014 $1740 $2270 A sólo: $4100 A sólo $8650 $2225#22 This presentation is property of Wal-Mart de México S.A.B. de C.V. and is intended for the use of the company's shareholders and the investment community. It should not be reproduced in any way. This presentation may contain certain references concerning Wal-Mart de Mexico S.A.B. de C.V.'s future performance that should be considered as good faith estimates made by the Company. These references only reflect management expectations and are based upon currently available data. Actual results are always subject to future events, risks and uncertainties, which could materially impact the Company's actual performance. Walmart México y Centroamérica#3Table of contents 3 History of Walmex 4 Walmex Today 11 Financial Information 29 Competitors 35 Walmex Resources 43 Walmart México y Centroamérica#4History of Walmex#5History: founded in 1958 AURRERA 1958 First Aurrerá 1959 ESTENA PERMACATE SUSCHETAS. Como en Aurre DE PRECIOS BAJOS Aqui Ahorrar VIPS SEWLENDOS First Superama 1964 First Vips H 1970 cotiza en Bolsa Mexicana Cifra starts trading on the Mexican Stock Exchange 5 1977 ESTE COMON LLEVA LA BODEGA AURRERA GRATIS! PISTA MEXICO ORO REGRESA KM 41% Suburba First Bodega Aurrerá 1 City with Walmex presence First Suburbia 1958 Walmart México y Centroamérica#6History: Walmart's first international business CIFRA & 1991 CLUB AURRERA 1 El Gran Negocio Para Sa Segocio CLUB 11 Cities with Walmex presence WAL⭑MART Joint venture between Cifra and Wal-Mart Stores, Inc. WAL MART SUPERCENTER 1993 Siempr First Walmart Supercenter in Mexico City 6 First Sam's Club in Mexico City 1997 WAL-MART Stores, Inc. MEXICAN STOCK EXCHANGE CIFRA Wal-Mart Stores, Inc. acquires majority position in Cifra Tender offer on the MSE - 1991 Walmart México y Centroamérica#7WAL-MART History: EDLP successfully introduced into Mexico WAL-MART Precios bajos Precios Siempre! Siempre! 1999 Introduction of EDLP 2003 Fundación Walmart 38 Cities with Walmex presence Banco Walmart México Bodega Aurrera 2004 Walmart de México Foundation created 2005 First Mi Bodega Superama a domicilio 2005 License issued to operate a bank in Mexico 7 2006 Superama.com.mx 2007 Online grocery sales pilot 1999 Wal-Mart Stores, Inc. acquires 33% of the shares of CARHCO (Central American Retail Holding Company) Wal-Mart Stores, Inc. increases its holding to 51% of CARHCO Walmart México y Centroamérica#8History: "Bodegas" expansion and incorporation of Central America 224 Cities with Walmex presence Bodega Aurrera First Bodega Aurrerá Express 2008 2010 Walmart Walmart México Centroamérica Walmart tod los di 2011 Walmart de México acquires 100% of Walmart Centroamérica First Walmart Supercenter in Central America (Honduras) 2013 Walmart Ahorras Dinero. Vives Mejor. La mejor ¿Cómo compra Ver Departamentos | Búsqueda Bebés Celulares Hasta 18 me Hasta el 31 de Octubre de 20 8 Computadoras Electrónica Electrodomésticos SONY Hogar Juguetes v Belleza Walmart.com.mx launches 2008 Walmart México y Centroamérica#9Continuous profitable growth Sales (Mx$ billion) 9 CAGR: 13.6% 118.0 2003 * Walmex fiscal year: January-December 2013 EBITDA (Mx$ billion) 420.6* CAGR:: 15.5% 9.5 2013 2003 40.2* 2013 Walmart México y Centroamérica#10Growth across multiple formats Bodega Aurrera Walmart Sam's CLUB Total Sales (Mx$ billion) 173.6* Total Sales (Mx$ billion) 112.0* Total Sales (Mx$ billion) 93.3* % CAGR 17.7% 33.9 10 2003 % CAGR 13.3% 32.1 2013 2003 Superama Desde las 11:00 am ESCHIRA Y CO % CAGR 10.4% 34.6 2013 2003 E Total Sales (Mx$ billion) % CAGR 14.5% 28.1* Total Sales (Mx$ billion) % CAGR 8.3% 6.1 7.3 2003 * Walmex fiscal year: January-December 2013 2013 2003 Suburbia 13.5* 2013 Walmart México y Centroamérica 2013#11Walmex Today#12Walmex: Listed on the Mexican Stock Exchange Wal-Mart Stores, Inc. 70% Mexican Stock Exchange 30% 12 ADR: WMMVY OTCQX • Market Cap: Mx$ 531 bn¹ ● Weight on the MSE index: 7.05% 3rd most traded stock on the MSE Walmex • Dow Jones Sustainability Indexes Member 2012/13 1. As of February 12, 2014 Sustentable Mexican Stock Exchange Sustainable Index Empresa Walmart México y Centroamérica#13Company description Annual sales (Mx$ billion) Units Countries December 31,2013 420.6* 2,861 Contribution to 2013 sales* Mexico 13 6 86.5% Cities 540 Business formats 5 Central America** 13.5% e-Commerce sites 2 Distribution centers Associates (thousand) 24 **Costa Rica El Salvador +225 * Walmex fiscal year: January-December 2013 Guatemala Honduras Nicaragua Walmart México y Centroamérica#14"Bodegas" Value Driver: Price Entrada Salida Basic general merchandise, food and household items at the best prices. Bodega Aurrera % of Walmex sales Customer target Cities Mexico 41.3 D, E 420 — - Central America 111 Operating units - Mexico - Central America 1,589 541 14 SQ. FT. SKUS Proposition "Bodegas" 45,800 32,000 Weekly shopping mi Bodega Aurrera 11,400 11,200 Small towns Discount Stores 3,800 4,400 Fill-in trip Walmart México y Centroamérica#1515 Maxi Despensa Precio Bajo SIEMPRE PALK BIENVENIDO A LOS PRECIOS BAJOS Bodega Aurrera express MaxiPalí Arcida +4 Bodega Aurrera Mama Lucha She is the average Mexican housewife: she wants the best for her family, but faces a constant struggle (lucha in Spanish) to make ends meet. 27.50 21.50 $15.50 2.50 She is Mexico's favorite luchadora, who fights against high prices together with Bodega Aurrerá. She brings the lowest prices to all families. Walmart México y Centroamérica#1616 Walmart Ahorras Dinero. Vives Mejor. Widest assortment of goods at every day low prices. Value Drivers: Price and assortment Supermercado % of Walmex sales 26.6 Walmart Average sq. ft. 82,900 SKUS 90,000 Customer target B, C, D+ Cities 87 Prototypes 3 Frutas y Verduras Operating units - Mexico 243 1 Central America 20 182211459 S DURADNO V PERA GUAYABA 544.40 535.90% 549.90 $29.10 519.90 Walmart México y Centroamérica#1717 Pagas Menos $389 Juguetes Pagas Menos $3550 Pagas Menos $16 $97 Cheerios Cheerios Sen sens Cheerios Cheerios Cheerios Chee Che cheerios Chee Cheerios Carrito $1550 LAVA $7.90 LAL LAJA A Frescurs Pimiento Verde 2.8 (8) Carrito is the perfect shopping partner. He knows our customer better than anyone and he understands what motivates her to shop. Only Carrito can join, advise and listen to our customer in order to help her find everything she needs when she comes to Walmart. Qualities: Friendly, curious, helpful, observer, good listener, fun, responsible, practical, intelligent, ally, accomplice. 10.9 $16.90 $27.50\ Walmart México y Centroamérica#1818 Sam's Club Membership warehouse clubs focused on businesses and high income households. Value Drivers: Price leader, volume, new and unique merchandise Cities Prototypes Operating units - Mexico Sam's CLUB - Central America 87 4 156 1 ClubCo % of Walmex sales 22.2 Average sq. ft. 76,700 SKUS 4,500 Customer target A, B, C+, Business Electrónica Walmart México y Centroamérica#19Sam's 2008 Business Member Gran Evento Compra por Volumen a precios increíbles para tu negocio Precio Especial en Leche a fórmula láctea a partir de 10 caps Compr 8 100 Compr 14 paques de gymsas y te Bonifican $100 $100 NEGOCIO SAM'S AM'S SERVICIO VIP HORECA Sams $50 12 $60 Compra 10 y Borifican $50 Motor TMN Com nic ARCOIRIS 900g atorade Gatorad Gatorad Gatorade Gatorad Gatorade 19 Nutri Leche CONT BET SERTHER 80631605 48 BOLSAS x 250 gr 3 LALA entera. LALA semidescremada LALA deslactosada. ARIEL ARIEL ARIEL S&CHES BAKERS PIÑA EN TROZOS EN CONSERVA MARGARINA SIN SAL MARGARINE CONFENDO NETO 11 14 Vinos Scores Cervezas Sam's Individual Member Eber Special Coke Splende "Llevo todos los básicos Sam's para mi casa a Precios de Mayoreo" CLUB Más de $12,300 en ahorros iPhone 5 INDIVIDUAL SAM'S CLUB Sams Sorpréndete Convéncete SAM'S y Hazte Socio SONY Voraz iPhone Sc con la Mayor cobertura a Máxima velocidad: telcel 4GLTE PS4 www. telcel Walmart México y Centroamérica#20Supermarkets Neighborhood supermarkets with outstanding fresh and food departments at reasonable prices. Value Drivers: Quality, convenience and service Superame Superama % of Walmex sales 6.7 Average sq. ft. 16,100 Superal ta SKUS 30,000 Customer target A, B, C+ 20 Cities Prototypes Operating units - Mexico - Central America 45 2 Pesch 92 100 168% Walmart México y Centroamérica#21Local format branding Costa Rica Masxmenos Nicaragua La Unión www.aquaca.com PM La Despense de Den Jan 21 www.aquacal.com El Salvador FARMACIASECONOMICAS Superama 182 AYHEL CEDA A 6666 000000 A-15-468 Guatemala & Honduras Mexico Paiz Walmart México y Centroamérica#22Sb Suburbia Basic fashion for the entire family. Value Drivers: Fashion with the best value, price-quality ratio 22 Suburbia Cities 42 Prototypes 3 Operating units - Mexico 109 % of Walmex sales 3.2 Average sq. ft. 42,800 Customer target C+, D SIE EN EL Walmart México y Centroamérica#23LLEGA CON UN NUEVO ESTILO REGRESO A CLASES SSI STREE 23 WONO non stop metropolis company AAMAP LA MODE LA MOL 598 698 848 AVANCES DE OTOÑO AL PRECIO QUE TE GUSTA Ⓡ S Suburbia Moga bara la vida real LA MODE Sb Suburbia Moda para la vida real Suéteres, Blusas y Jeans desde $198 OTOÑO INVIERNO 2013 MODA REAL ☐ MUJER REAL SILVIA NAVARRO Weekend 198 ES TEMPO DE SUETERES desde 198 Weekend SURTER SUETER 298 298 Walmart México y Centroamérica#24Superama.com.mx: online grocery sales leader Superama Nuevo(a) Cliente? Registrate aqui | Ingres Que deseas buscar Departamento. Web page Mobile Apps 24 Parm Muly werduras Pescinde Despen Sacconele Gour Park Cocina Lacro w Huevo A VY Congelacos anas 0 Articulos seleccionados Disfruta el delicioso sabor de nuestro Pan de Muerto Compra equi extra Special Vigencia el 1 de abre al 10 de molen 2010 00.00 Pan de Muerto Superama Prepárate para este Halloween con dulces, adomos y bdo para esta temporada Promotion del 17 de Octupre al03 de Noviembre Descubred Farmacia Te recomendamos Pescado Cuida tu alimentación con nuestra fresca selección de fletes de pescado. Ver más > Frutas secas Disfruta una rica botana en compañia de tus familiares y amigos. Ver más Leche de soya Alimentate sanamente. Te sorprenderán sus beneficios. Ver más Cuidamos su salud con una amplia varieda Ver f de medicamentos Súper Ahorros Verduras enlatadas Cocina de manera rápida y saludable varios platillos con la mejor calidad de Great Value. Ver más>> Detergente Cuida tu ropa blanca y de color con la amplia variedad de productos que tenemos para ti. Ver más a Tintes Descubre los colores de la temporada Ver más HIDRATA TV DÍA Disfruta esses exclusivas promociones que tenemos para Condoelos> Ricas Recetas Recetas Superama Muerto Te recomendamos Cefer Speel Source: Euromonitor International Superama a domicilio TELCRA Cereza paquete 500 $105.00 Navegar Destacado Ubicaciones Pedidos Anteriores Listas 50 + SUSTOTAL $5.25 Mi Carrito Gramos MODUCTO Cuenta Ayuda ingresar Weydre Superama Buenas Tardes Disfruto al delicioso sabor de nuestro Pan de Muerto Compra qu Cfra Special 04.00 1000 Pa Lechuga sort Cottonelle Call Center Walmart México y Centroamérica#25Walmart.com.mx: online general merchandise Differentiated catalogue Bocinas Edifier Bluetooth Altavoces Subwoofer $1,990 Compra ahora > AUTOESTÉREO YES 2 bocinas de 6.5" de 4 vias Función de DVD y TV Lector USB y SD $3,990 Compra ahora > 25 Delivery FedEx Ο Suscribete aquly recibe antes que nde nuetres promocione Wement US M La mejor selección de Videojuegos ¿Cómo comprar? Tiendas Laptop HP 6CB RAM. AMD A6-4400M-SKIN y McAfee Walmart Ah Di Wa Majel Ver Departamentos | Búsqueda Bebés Celulares Computadoras Todo el sitio Mi cuenta Ayu Ingresar Nuevo Clente? Mi Carrito (0) Hasta 18 meses sin intereses + Envío normal Gratis" Electrónica SONY Electrodomésticos Hogar Juguetes Salud y Belleza Videojuegos Especiales del Mes Quincena de videojuegos Diseña tu Espacio Levate un Biberon Avent de Regalo Mundo Lego Pantalla LED 42 Sony Consola Xbox 360 Smart TV-240HZ HOME2 G-1 control lambico 2014 Inclaw codigo descargable para FEA Ute am $42,480 $10,000 Compra ahora > APROVECHA YA SUPER PANTALLA PRECIO más BAJO • Audio • Auto •Baby • Cell Phones Home ⚫Household Appliances • Toys COMPRA Se Walmart.com.ms $9,999 $5,990 Envio Gratis VISA ESCOGE TU PAQUETE Y AHORRA PRECIOS ESPECIALES Tu súper Directo a tu hogar 01800 967 8737 Tienda las Aguilas ASO $14,990 lenovo $999 $3.649 Pets Computers •Health & Beauty O Sports •Video Games ⚫Electronics Categories Walmart México y Centroamérica#2626 Income Level Flexible multiform at operation Flexible Prototypes ΠΟ Bodega Aurrera mi Bodega Aurrera Bodega Aurrera BC D+ Walmart Ahorras Dinero. Vives Mejor. A ?> B C+ Sam's CLUB Superama express C+ Sb Suburbia D Sales Area (Sq. Ft.) 0 20,000 40,000 60,000 80,000 100,000 Walmart México y Centroamérica#27Regional store presence 27 ° As of December 31, 2013 540 Cities with Walmex presence Walmart México y Centroamérica#28Efficient distribution network 28 Monterrey (2) 24 Distribution Centers WAL-MART CONDICION CULIACAN Mexico City (6) Culiacán (1) Guadalajara (2) Villahermosa (2) Guatemala (2) Amatitlán (1) El Salvador (1) Tegucigalpa (1) San Pedro (2) Managua (2) San José (2) Walmart México y Centroamérica#29Financial Information#30Walmex: 2013 Results* 2013 2012 % Increase % Increase (Mx million) % % ex one-time store lease expense Total revenues 425,161 100.0 412,060 100.0 3.2 3.2 Gross margin 93,624 22.0 90,228 21.9 3.8 3.8 General expenses 62,102 14.6 58,541 14.2 6.1 5.2 Operating income 31,532 7.4 31,422 7.6 0.3 2.0 EBITDA 40,222 9.5 39,860 9.7 0.9 2.2 Net Income 22,713 5.3 23,269 * Walmex fiscal year: January-December 2013 5.6 -2.4 -0.8 30 Walmart México y Centroamérica#31Mexico: 2013 Results* 31 2013 2012 % Increase % Increase (Mx million) $ % $ % ex one-time store lease expense Total revenues 367,731 100.0 100.0 355,798 100.0 3.4 3.4 Gross margin 80,785 22.0 78,563 22.1 2.8 2.8 General expenses 51,394 14.0 48,422 13.6 6.1 5.3 Operating income 29,416 8.0 30,336 8.5 -3.0 -1.6 EBITDA 36,778 10.0 37,088 10.4 -0.8 0.3 * Walmex fiscal year: January-December 2013 Walmart México y Centroamérica#32Central America: 2013 Results* 2013 2012 (Mx million) % $ % % Increase In peso terms On a constant currency basis % Increase ex one-time store lease expense In peso terms On a constant currency basis Total revenues 57,430 100.0 56,262 100.0 2.1 5.7 5.7 2.1 2.1 5.7 Gross margin 12,839 22.4 11,665 20.7 10.1 14.0 10.1 14.0 General expenses 10,708 18.6 10,119 18.0 5.8 9.6 4.8 8.5 Operating income 2,116 3.7 1,460 2.6 45.0 50.1 52.1 57.5 EBITDA 3,444 6.0 2,772 4.9 24.3 28.7 28.0 32.6 32 * Walmex fiscal year: January-December 2013 Walmart México y Centroamérica#33Financial strength Walmex Balance Statement December 31, 2013 (Mx$ million) Liabilities & Shareholders' Equity 33 Assets Cash 21,129 Acct's receivable 47,609 Suppliers (Banco Walmart) 4,784 Inventories 43,795 4,808 Acct's payable (Banco Walmart) Fixed assets & others 160,554 177,845 Shareholders' equity & others TOTAL $ 230,262 Walmart México y Centroamérica#34Openings 2013 34 "Bodegas" 65 Discount Stores 118 Walmex sales floor growth Walmart Ahorras Dinero. Vives Mejor. 19 Sam's Club 14 Supermarkets 5 7.1% 4.7 million sq. ft.* Sb Suburbia Farmacia Medimart 10 4 Mexico 7.2% 235 * 6.7 million total box sq. ft. Central America 6.1% Walmart México y Centroamérica#35Competitors#36Selected self-service competitors 36 Listed on the MSE Sales* (Mx$ bn) Private SORIANA 105.5 COSTCO MEXICO 65.7 H-E-B CHEDRAUI Comercial mexicana Last 12 months to September 30, 2013 46.7 Ley Walmart México y Centroamérica#37ANTAD: Self-service and Department Stores Association ANTAD Mx $1,128 billion in sales +100 Members 273.4 million sq. ft. Department 18.4 Coppel % Participation to sales Self-service 61.2 Walmex SSORIANA CHEDRAUI COSTCO MEXICO Comercial mexicana H-E-B SEARS Ley Liverpool® Palacio de Hierro Specialized 20.4 THE DEPOT HOME OXXO Office DEPOT benavides farmacias milano 37 Walmart México y Centroamérica#38Informal market remains a large competitor STEVIA PCHATA ON ANCHECKONSE JARRITOS VISHARA Delicioses AGUASTENO FRESA CHAT-TRA VAMAICA-PINA 38 JARRITO LOCOS THOUT 20 Walmart México y Centroamérica D#39Associates 2013 highlights: • $98 million pesos invested in training 1.5 average training days per associate • 31% of management positions are filled by women 39 art 3 Walmart México y Centroamérica#40Community support 2013 highlights: $504.3 million pesos channeled to the communities of the region. • 139,045 volunteer associates. 60,000 women participated in the first two years in the program "Women Can Count on Us❞ " 40 Axt Para abrir su negocio Vigencia al 10 de noviembre del 2011 de salsas, Juntos apoyamos alos afectados por las inundaciones. B Mariza contó con nosotros. Sé una de las 25,000 mujeres que también pueden lograrlo. Pide tu folio en Servicio a Clientes, registralo en www.CuentasCon Nosotros.mx y recibe capacitación para abrir un negocio o mejorar el que tienes. Para capacitarle MUJER CUENTAS NOSOTROS Fundación Walmart México Becalos FONABEC ProEmpleo Walmart México y Centroamérica DIAGEO#41Community support . • 1,888 tons channeled to the Mexican Red Cross for disaster relief • Supporting nutrition through 333 food banks . • 5,859 small producers commercialized their products at our stores 41 RECEPCIÓN Y DESCARGA CRUZ ROJA MEXICANA Walmart México y Centroamérica#42Environmental commitment and success 2013 highlights: • 71 million of kWh saved through energy-efficient use of lighting. equipment and systems. • Over 245,000 tons of organic waste recycled or transformed. • 1,280 tons of plastic saved by the "Green Bag" program in Mexico. Over 106 million gallons of water saved by water-efficient equipment in our stores in Mexico. 42 Walmart México y Centroamérica#43Walmex resources Investor Relations: www.walmex.mx Corporate: www.walmartmexicoycam.com.mx Online & sales: www.superama.com.mx www.walmart.com.mx Other business formats: www.sams.com.mx www.suburbia.com.mx www.bancowalmart.com.mx 43 Walmart México y Centroamérica