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Investor Presentaiton

MaxiPalí Central America An important achievement this year was having concluded the Standardization of processes, systems, formats, and equaling service protocols with those used in Mexico. With the purpose of better understanding the tastes, preferences and shopping habits of our customers, we adjusted our commercial plans, communication with the media, and those concerning points of sale. Greater attention was paid to improving our supply levels, especially with imported merchandise. We included products that in the past could only be found in traditional markets, and we guaranteed the best prices for items of greatest importance to our customers. Since we are committed to constantly improving our value proposition, we reinforced our strategy for Every Day Low Prices. This year the benefits of regional integration were specifically observed and they are reflected in our growth and recovered profitability in Central America. Although both factors were temporarily impacted by our decision of setting the foundations for the Company's long-term strategy, we know there is still considerable potential for creating more synergies and efficiencies. 2013 Financial and Social Responsibility Report PHYT Paiz 5% DE AHORRO 24
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