Investor Presentation May 2017

GOOD CONTROL OF OPERATING COSTS OPERATING COSTS (in €m) +4.9% 2016 13,125 at constant exch. rates 2015 13,070 OPERATING COSTS (as a % of net sales, +10bp ex. petrol) 2016 18.7% 2015 18.6% INVESTOR PRESENTATION May 2017 | 40

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