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Investor Presentation May 2017

THE LOWER CAPITAL INTENSITY OF GROWTH WILL HELP RETURN ON CAPITAL HYPERMARKETS SUPERMARKETS CONVENIENCE CASH & CARRY E-COMMERCE Number of stores 1,328 3,227 7,075 305 n.a % food in sales 70% 85% 95% c100% 55% Capex (by unit) €€€ €€ € € € Expansion outlook = 77 CON 777 Expansion capex per sqm ++ + + 2014/2016 Trend High volumes, benefitting all formats Strong cash flow, financing multiformat expansion لا لا +++ (1) n.a 7₁ n.a (1) Includes real estate INVESTOR PRESENTATION May 2017 | 45

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