Investor Presentaiton

ALWAYS SEEKING TO IMPROVE OUR OPERATION IN BENEFIT OF OUR CUSTOMERS, IN 2013 WE MODIFIED THE COMMERCIAL AND OPERATING STRUCTURE OF THE COMPANY. THIS SIMPLIFICATION ENTAILED DIVIDING THE OPERATION IN MEXICO INTO TWO BUSINESS UNITS -SELF-SERVICE AND SPECIALTY FORMATS- EACH FOCUSED ON CONDUCTING CHANGES AND ADAPTING TO ECONOMIC AND SHOPPING TRENDS EXHIBITED THROUGHOUT THE YEAR. This new division, which includes Bodega, Walmart and Superama, has allowed for the alignment of self-service potential with the centralization of merchandising, which in the past was divided by operator. SELF-SERVICE Division The purpose of this centralization is having buyers who are specialized by area, with the tools needed to increase their efficiency through the integration of merchandising for the self-service formats, and differentiating the product offering of each one. Key to the success of their mission is the support provided by the recently created Customer and Market Intelligence unit, enabling the buyers to better build a distinct commercial proposition for each of our business formats. With this added insight into our customers and the creation of a unique planning process, the regional offering is reinforced. Our buyers now create an overall strategy by category, and they are responsible for the products, planning, modular design, and setting the right prices. By centralizing the merchandising function in Self-service, we are able to leverage our supplier relations, jointly designing with them the most efficient programs that in turn produce the greatest impact. An example of this is commercial planning through the scheduling of defined purchasing cycles, a process which is more proactive and efficient for the suppliers, as they can now program their production, deliveries and commercial initiatives, with sufficient lead time. The current structure has not only contributed greatly towards simplifying our operation, thanks to increased specialization and improved commercial alignment, but it has also produced positive results, especially as regards a commercial offering more focused on our customers and on better prices. The operating structure by format remains unchanged. Therefore, each business can focus on managing their units much as they had done prior to having merchandising centralized. 2013 Financial and Social Responsibility Report 13

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