Kipa Acquisition Operational Rationale

International MIGROS 3 ...And multiple formats catering to an "evolving" consumer MIGROS ■ Core expertise with 1,533 stores¹ ■Multiple format including M-JET, M, MM, MMM and 5M (from 40 to 4,500 sqm and 1,800 to 18,000 SKUs) ■ Operations in 73 cities ■Sales area of 999k sqm MMM MIGROS MMM MIGROS macro center ■Upscale offering with 39 stores¹ with strong brand loyalty ■Operations in 5 cities ■Sales area of 30k sqm Turkey Online ■Turkey's first and leading online food retailer Direct delivery from 105 stores in 24 cities ■Tazedirekt started as a stand- alone operation in March 2017 Taze Direkt .com MIGROS SANAL MARKET www.sanalmarket.com.tr Wholesale & Foodservice Wholesale & Food Service ■Currently operating in 11 cities ■15 Wholesale stores ■Dedicated warehouses and customer delivery Sales area of 9k sqm MIGROS TOPTAN- MIGROS Kazakhstan ■1.8% of consolidated sales from Kazakhstan ■19 supermarkets/1 shopping mall ■Total sales area of 35k sqm ■Operations started in 1999 31 da АШЫЛУЫ Рамстор 1 As of 31-Mar-2017. Ramstore Ramstore Macedonia ■1.2% of consolidated sales from Macedonia ■20 supermarkets/1 shopping mall Total sales area of 19k sqm Operations started in 2005 10 10

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