FY 2022 Results

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February 14, 2023

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#1FY 2022 Results Q4 2022 Sales February 14th, 2023#22022: A year of key strategic achievements Sale of Taiwan Carrefour Closing in 2023 - €2.0bn EV Grupo BIG acquisition BIG B Completed in June 2022 Retail Media Olympic Games TM PARIS 2024 Premium Partner International Expansion מהיום כל יום הוא יום השוקולד! השתתפו בפעילות ואולי תזכו! Selections PUBLICIS GROUPE Extra Carrefour FLEUR DE SEL 72% CACAO 80% CACAO NOIR NOIR FY 2022 RESULTS New Strategic Plan CARREFOUR 2026 Strategic Plan November 8, 2022 Finance Announced Nov. 8th Sustainable Finance KI CARREFOUR GROUP SUSTAINABILITY- LINKED BOND FRAMEWORK Joint Venture New Master franchises €2.35bn SLBS issued in 2022 February 14, 2023 2#3Strong financial performance, sound execution of strategy Recurring Sales Operating Income Cost savings Net free cash-flow €90.8bn €2,377m €1.0bn €1,262m +8.5% LFL +8.3% 23-26 target of €4bn +€35m E-commerce GMV Private Labels +26% +139% vs. 2019 +2p.p. yoy at 33% of sales Grupo BIG integration Accelerated pace of store conversions Synergies in line with plan FY 2022 RESULTS CSR Index 109% February 14, 2023 3#4Consistent market share gains in key markets 21.0% France +20bps 21.2% 2021 2022 Source: Nielsen FY 2022 RESULTS 10.0% Spain +30bps 10.3% 2021 2022 Source: Nielsen Brazil (excl. Grupo BIG)(1) +80bps 17.0% 17.8% 2021 2022 Source: Nielsen (1) Grupo BIG will be included in market share over the full year in 2023 February 14, 2023 4#5CSR 1 Successful FY 2022 initiatives Achievement of CSR index objectives: 109% with particular progress in: Packaging Climate and waste 16,390 tons avoided since 2017 o/w 5,483 tons in 2022 -29% reduction in store greenhouse gas emissions (scopes 1 and 2) vs. 2019 Food transition 204 suppliers committed to the Food Transition Pact (vs. 114 in 2021) Employees 3.7% of employees with disabilities in 2022 or 11,281 people FY 2022 RESULTS February 14, 2023 5#6Strong top line momentum Group LFL sales growth, excl. Taiwan > +10.9% LFL in Q4 2022 3.5% H1 +5.7% H2 +11.1% 11.3% 7.8% Q1 Q2 FY 2022 RESULTS 2022 LFL 10.9% Group Q4 +10.9% Hypermarkets: +3.7% Supermarkets: +5.9% Convenience / other formats: +10.7% › France +5.6% Spain: +4.6% Italy: +4.5% › Europe +6.2% › LatAm +28.2% Belgium: :+3.4% Poland:+9.6% Romania: +17.8% Brazil: +11.1% Retail: +14.4% Atacadão::+10.0% Argentina: +101.8% Q3 Q4 February 14, 2023 6#7Strong Q4 sales growth driven both by LFL and expansion €21,545m +18.0% +4.7% +0.5% +1.9% €25,415m +10.9% (0.0)% o/w BIG: +4.5% Q4 2021 Gross sales LFL Expansion & M&A Petrol Calendar Forex FY 2022 RESULTS Q4 2022 Gross sales February 14, 2023 7#8France: Solid performance across the board France 2022 LFL of +3.4% > Market share gains in value and in volume in 2022 • Nielsen (1): +0.2pts in value and +0.3pts in volume • Kantar(2): +0.1pts in value and +0.4pts in volume > +13% growth in e-commerce GMV France ROI up +10.2% +20.4% +10.2% LFL 2022 €834m France +3.4% €757m › Hypermarkets +1.8% €629m › Supermarkets +2.2% › Convenience & others +10.2% (1) Copyright © 2023, NielsenIQ (2) Kantar MyWorldPanel FY 2022 RESULTS 2020 2021 2022 February 14, 2023 8#9France: Strong market share growth in volume throughout the year Carrefour FY22 Hypermarket 1 Supermarket 1 +0.09pt Discounter 1 Discounter 2 Hypermarket 2 (0.05)pt Supermarket 2 (0.23)pt Multi-formats (0.24)pt +0.08pt +0.02pt Source: Kantar MyWorldPanel FY 2022 RESULTS +0.42pt +0.30pt (0.03)pt (0.26)pt (0.13)pt H1'22 +0.05pt +0.41pt +0.30pt +0.24pt (0.06)pt +0.23pt (0.16)pt (0.20)pt (0.33)pt (0.06)pt H2'22 +0.12pt +0.42pt +0.29pt February 14, 2023 9#10France: Steady margin improvement 1.9% 4 consecutive years of ROI margin improvement 1.3% 1.8% 1.6% 2.2% 2.1% 2017 2018 2019 2020 2021 2022 FY 2022 RESULTS February 14, 2023 10#11Europe: Good commercial momentum- ROI pressured by costs SPAIN Europe 2022 LFL of +4.9% › Solid market share dynamics (+30bps) in a context of high inflation weighing on purchasing power CENTRAL EUROPE > Solid growth in Poland & Romania Europe ROI down (15.3)% at constant FX SPAIN › Profitability affected by sharp increase in energy costs and higher cost of risk in Financial Services BELGIUM › Adverse competitive landscape ITALY > Rapid earnings recovery LFL 2022 Europe +4.9% › Spain +5.4% > Italy +4.2% › Belgium (0.9)% › Poland +12.0% › Romania +9.0% FY 2022 RESULTS €698m +3.3% 2020 ROI at current FX, evolution at constant FX €718m 2021 (15.3)% February 14, 2023 €606m 2022 11#12Latin America: Solid earnings growth despite BIG integration costs LatAm ROI up +20.4% at constant FX ROI at current FX, evolution at constant FX +€157m at constant-FX €80m FX +€49m at constant-FX +6% +20% Latin America 2022 LFL of +24.6% BRAZIL > +12.4% LFL sales, with non-food back to positive territory (+7.0% LFL) and strong growth in food (+13.4% LFL) › Strong market share gains (+80bps) on historical scope (excl. Grupo BIG effect) ARGENTINA › Strong performance with growing volumes and continued market share gains €786m €(67)m FX €768m €1,005m LFL 2022 2020 2021 2022 Brazil +12.4% ROI - Em 2021 2022 Variation at constant-FX › Retail +10.8% Brazil 714 914 +28.0% +8.8% ROI Margin 6.2% › Atacadão +12.9% Argentina Argentina +84.3% ROI Margin 55 2.4% 5.1% 92 3.1% -111bps (1) +67.5% +72bps +171.9% FY 2022 RESULTS (1) ROI margin in Brazil down (6)bps excluding Grupo BIG perimeter February 14, 2023 12#13Latin America: Successful integration of Grupo BIG Acceleration of conversion plan 2022 2023 AFTER CONVERSION BIG> 20 stores ✓ 27 stores* BIG > 13 stores ✓ 15 stores maxxi 25 stores 13 stores 70 Atacadão 47 Carrefour TodoDia A 4 stores 7 Sam's Club BIG> Sam's 1 store 6 stores* 59 stores 65 stores (vs c.35 initially planned) *2 stores will be converted to Hypermarket and Club (combo) Capture of synergies well on track: R$160m booked in 2022 accounts - R$2.0bn 2025 objective confirmed > 100% of the front office IT systems integrated > Head office structures reduced by 23% > Negotiations with suppliers concluded and to be fully reflected in P&L in FY 23 > Strong sales uplift at converted stores FY 2022 RESULTS February 14, 2023 13#14Steady improvement in Group profits > FY22 ROI up +8.3% in €m Net Sales Gross margin As a % of net sales 2021 (1) 2022 Variation 70,462 81,385 14,896 16,313 15.5% 9.5% SG&A 21.1% (10,837) 20.0% (11,958) -110 bps 10.3% Reflecting investment in competitiveness and change in integrated/franchise store mix As a % of net sales 15.4% 14.7% -69 bps Strong cost discipline Recurring operating income before D&A (EBITDA) 4,307 4,613 7.1% D&A (1,864) (1,978) 6.1% Recurring operating income (ROI) 2,194 2,377 8.3% Recurring operating margin 3.1% 2.9% -19 bps Stable Group ROI margin excl. Grupo BIG (1) Carrefour Taiwan reclassified as held for sale as per IFRS 5 FY 2022 RESULTS February 14, 2023 14#15Strong EPS growth driven by operating performance and buybacks Low restructuring costs in 2022 Higher interest rates and increased debt in 2022 following the acquisition of Grupo BIG Evolution of the geographic mix and decrease in corporate tax rate in France (from 28.4% to 25.8%) in Єm 2021 (1) 2022 +8.3% Recurring operating income 2,194 2,377 Net income from associates and JVs 12 50 Non-recurring income and expenses, net (366) 36 EBIT 1,840 2,463 Net financial expenses (270) (490) Income before taxes 1,570 1,973 Income tax expense (360) (408) Normative tax rate 30.2% 28.8% Net income from discontinued operations 92 1 Consolidated Net income 1,301 1,566 Net income, Group share 1,072 1,348 Net income from continuing operations, Group share Net income from discontinued operations, Group share Minority interests +36.6% 1,002 1,368 70 (21) 229 218 Net income from continuing operations, Non-controlling interests Net income from discontinued operations, Non-controlling interests Adjusted net income, Group share 208 196 22 22 1,126 1,212 Adjusted earning per share (EPS) 1.43 1.63 > (1) Carrefour Taiwan reclassified as held for sale as per IFRS 5 FY 2022 RESULTS Adjusted EPS +14% February 14, 2023 15#16Steady growth in EPS Adjusted EPS (in €) +50% > Adjusted EPS +14% in 2022 1.43 1.26 1.09 2019 2020 (1) Carrefour Taiwan reclassified as held for sale as per IFRS 5 FY 2022 RESULTS 1.63 2021 (1) 2022 +50% over 3 years 14% CAGR between 2019 and 2022 February 14, 2023 16#17Record Net Free Cash Flow generation > 2022 Net FCF of €1,262m Net Free Cash Flow (in Єm) 324 2019 Net FCF to reach >1,700 1,262 >€1.7bn in 2026 1,227 1,056 2020 2021 (1) (1) Carrefour Taiwan reclassified as held for sale as per IFRS 5 FY 2022 RESULTS 2022 2026 February 14, 2023 17#18Net Free Cash Flow growth > EBITDA to Net FCF in €m EBITDA Income tax paid Financial result (operations-related)(2) 2021 (1) 2022 Variation 4,307 4,613 306 (426) (449) (23) (1) 13 14 Cash impact of restructuring items and others (289) (424) (135) Gross cash flow (excl. discontinued) 3,591 3,753 162 Change in working capital requirement (incl. change in consumer credit) Discontinued operations (186) 243 428 255 224 (31) (3) Operating cash flow (incl. exceptional items and discontinued) Capital expenditure(3 3,661 4,219 559 (1,558) (1,861) (304) Asset disposals (business related) 276 379 103 Change in net payables and receivables on fixed assets 122 55 (67) Discontinued operations (67) (36) 31 Free cash flow 2,435 2,756 322 Payments related to leases (principal and interests) net of subleases payments received (931) (1,047) (116) Net cost of financial debt (173) (336) (164) Discontinued operations (104) (111) (7) Net Free Cash Flow 1,227 1,262 35 (1) Carrefour Taiwan reclassified as held for sale as per IFRS 5 (2) Excluding cost of debt and interest related to leases obligations (3) Restated for Makro FY 2022 RESULTS Including exceptional tax payment at the Bank in Brazil (c.€110m) Including c.€160m related to Grupo BIG integration Higher cost of debt driven by high interest rates and incremental debt, notably in R$ February 14, 2023 18#19Increase in net debt reflecting Grupo BIG acquisition in Єm 2,633 (1,262) 481 +€797m 753 880 Incl. Grupo BIG for €862m (54) 3,429 December 31, 2021 Net Debt Net FCF Dividends Share buyback Net M&A Forex and others December 31, 2022 Net Debt FY 2022 RESULTS February 14, 2023 19#20A cash-generating model supporting value creation for shareholders Dividend of €0.56 representing a total amount of c.€409m (1) proposed to the General shareholders' meeting on May 26th, 2023 8.1% yield(2) €1,083m 8.6% yield(2) €1,130m €700m SBB €750m SBB 9.4% yield (1) €1,209m €800m SBB €800m share buyback to be completed before year-end €383m Cash €380m Cash €409m Cash div. div. div. 2021 2022 (1) At 31 January 2023 market capitalization and number of shares (2) At year-end market capitalization FY 2022 RESULTS February 14, 2023 2023 20#21● APPENDIX#22Carrefour 2026 objectives OPERATIONAL OBJECTIVES Private labels Convenience store openings Atacadão store openings Reduction in energy consumption 2022 33% of food sales -9% 2026 40% of food sales +2,400 vs. 2022 > +200 vs. 2022 -20% in 2026 vs. 2019 (in 2024 for France) ESG OBJECTIVES Sales of certified sustainable products Top 100 suppliers to adopt a 1.5°C trajectory Employees with disabilities FINANCIAL OBJECTIVES E-commerce GMV Cost savings Net Free Cash Flow(1) Investments (Capex) Cash dividend growth 2022 2026 €5.4bn €8bn 27% 100% 11,281 15,000 2026 2022 €4.2bn €1.0bn in 2022 €10bn €4bn (cumul. 2023-2026) €1,262m €1,861m >€1.7bn €2bn/year +8% (€0.56/share) >5%/year Note (1) Net Free Cash Flow corresponds to free cash flow after net finance costs and net lease payments. It includes cash-out of exceptional charges FY 2022 RESULTS February 14, 2023 22#23Q4 2022 Gross sales Change at current Gross sales exch. rates inc. (in Єm) petrol Change at constant exch. rates inc. LFL ex. petrol ex. calendar Organic growth ex. petrol ex. calendar petrol France Hypermarkets 11,496 +8.0% +8.0% +5.6% +4.9% 5,811 +6.2% +6.2% +3.7% +2.0% Supermarkets 3,749 +8.1% +8.1% +5.9% +6.3% Others, inc. convenience. 1,936 +13.8% +13.8% +10.7% +12.0% Other European countries 6,941 +6.2% +6.4% +6.2% +5.9% Spain 3,196 +6.7% +6.7% +4.6% +5.3% Italy 1,178 -0.2% -0.2% +4.5% -0.5% Belgium 1,155 +3.5% +3.5% +3.4% +3.5% Poland 655 +6.9% +9.3% +9.6% +10.6% Romania 758 +20.1% +19.4% +17.8% +19.6% Latin America (pre-IAS 29) 6,977 +59.8% +50.0% +28.2% +31.1% Brazil 5,860 +64.1% +38.2% +11.1% +14.4% Argentina (pre-IAS 29) 1,118 +40.5% +103.2% +101.8% +102.9% Group total (pre-IAS 29) 25,415 +18.0% +16.0% +10.9% +10.9% IAS 29 impact (437) Group total (post-IAS 29) 24,977 FY 2022 RESULTS February 14, 2023 23#24Q4 LFL over 3 years LFL ex. petrol ex. calendar Q4 2020 Q4 2021 Q4 2022 France +5.5% -0.3% +5.6% Hypermarkets +3.9% -1.8% +3.7% Supermarkets +9.8% -1.3% +5.9% Others, inc. convenience +2.0% +6.9% +10.7% Other European countries +1.8% 0.0% +6.2% Spain +6.0% +1.6% +4.6% Italy -7.6% +2.5% +4.5% Belgium +5.7% -6.8% +3.4% Poland -4.2% +5.7% +9.6% Romania +1.6% -3.3% +17.8% Latin America +25.3% +4.0% +28.2% Brazil +22.9% -6.1% +11.1% Argentina +39.6% +61.0% +101.8% Group total +8.9% +0.7% +10.9% FY 2022 RESULTS February 14, 2023 24#25Q4 2022 Technical effects Calendar Petrol Forex France Hypermarkets -0.1% +3.2% (1) -0.3% +4.5% (1) Supermarkets +0.1% +1.6% (1) Others, inc. convenience -0.1% +1.9% (1) Other European countries -0.1% +0.3% -0.2% Spain -0.1% +0.8% Italy +0.2% +0.1% Belgium +0.0% Poland -0.7% -0.6% -2.4% Romania Latin America Brazil -0.1% -0.1% +0.7% +0.4% -2.2% +9.7% +0.4% -2.2% +25.9% Argentina +0.3% -62.7% Group total +0.0% +0.5% +1.9% (1) Petrol rebates from French government for the full year 2022 are accounted for as petrol sales in the fourth-quarter vs. in cost of sales previously FY 2022 RESULTS February 14, 2023 25#26FY 2022 Gross sales Change at current Gross sales exch. rates inc. (in cm) petrol Change at constant exch. rates inc. LFL ex. petrol ex. calendar Organic growth ex. petrol ex. calendar petrol France 42,009 +6.8% +6.8% +3.4% +2.5% Hypermarkets 20,728 +5.5% +5.5% +1.8% +0.4% Supermarkets 13,880 +5.0% +5.0% +2.2% +1.0% Others, inc. convenience. 7,402 +14.4% +14.4% +10.2% +11.7% Other European countries 25,068 +5.9% +6.2% +4.9% +4.3% Spain 11,498 +9.8% +9.8% +5.4% +5.9% Italy 4,400 -0.4% -0.4% +4.2% -1.7% Belgium 4,261 -1.1% -1.1% -0.9% -0.9% Poland 2,290 +8.5% +11.4% +12.0% +12.7% Romania 2,619 +11.1% +11.3% +9.0% +11.3% Latin America (pre-IAS 29) 23,842 +55.9% +42.0% +24.6% +27.7% Brazil 20,021 +57.0% +33.1% +12.4% +15.9% Argentina (pre-IAS 29) 3,821 +50.5% +85.8% +84.3% +85.6% Group total (pre-IAS 29) 90,919 +16.1% +13.5% +8.5% +8.4% IAS 29 impact (109) Group total (post-IAS 29) 90,810 FY 2022 RESULTS February 14, 2023 26#27FY LFL over 3 years LFL ex. petrol ex. calendar 2020 2021 2022 France +3.6% +1.8% +3.4% Hypermarkets +1.0% +0.6% +1.8% Supermarkets +6.8% +3.6% +2.2% Others, inc. convenience +5.2% +2.1% +10.2% Other European countries +3.5% -1.1% +4.9% Spain +7.1% -0.4% +5.4% Italy -5.2% -3.0% +4.2% Belgium +8.3% -4.2% -0.9% Poland -0.6% +3.0% +12.0% Romania +2.1% +2.0% +9.0% Latin America +23.0% +9.3% +24.6% Brazil +18.2% +1.0% +12.4% Argentina +49.3% +50.0% +84.3% Group total +8.0% +2.5% +8.5% FY 2022 RESULTS February 14, 2023 27#28FY 2022 Technical effects Calendar Petrol Forex France Hypermarkets +0.2% +4.1% (1) +0.1% +5.0% (1) Supermarkets +0.3% +3.6% (1) Others, inc. convenience +0.1% +2.5% (1) Other European countries +0.0% +1.2% -0.3% Spain +0.2% +2.4% Italy +0.1% +1.2% Belgium -0.2% Poland -0.1% -1.3% -2.8% Romania Latin America Brazil +0.0% -0.2% +0.1% -0.9% +13.9% +0.1% -0.7% +23.9% Argentina +0.2% -35.3% Group total +0.1% +1.7% +2.6% (1) Petrol rebates from French government for the full year 2022 are accounted for as petrol sales in the fourth-quarter vs. in cost of sales previously FY 2022 RESULTS February 14, 2023 28#29FX impact on results CURRENCY Brazilian Real 2022 Evolution (¹) +17.5% +2.6% positive FX impact on 2022 Gross Sales Argentine Peso -13.8% Polish Zloty Romanian Leu (1) Average foreign exchange rate FY 2022 RESULTS -2.5% -0.2% +€81m positive FX impact on 2022 ROI February 14, 2023 29#30Net sales and recurring operating income by region NET SALES RECURRING OPERATING INCOME Variation Variation Variation 2021 (1) Variation 2022 at constant at current exch. rates exch. rates 2021 (1) 2022 at constant at current exch. rates exch. rates in €m France 35,283 37,706 +6.9% +6.9% 757 834 +10.2% +10.2% Other European 21,283 22,643 +6.7% +6.4% 718 606 -15.3% -15.6% countries Latin America 13,895 21,036 +44.9% +51.4% 768 1,005 +20.4% +30.8% Global functions (49) (69) n.a. n.a. TOTAL 70,462 81,385 +14.3% +15.5% 2,194 2,377 +4.6% +8.3% (1) Carrefour Taiwan reclassified as held for sale as per IFRS 5 FY 2022 RESULTS February 14, 2023 30#31Reduction in non-recurring expenses in €m 2021(1) 2022 Restructuring costs (383) (13) Impairment and asset write-offs (215) (147) Results from asset disposals 271 212 Other non-current items Non-recurring income and expenses, net (1) Including Carrefour Taiwan reclassified as held for sale as per IFRS 5 FY 2022 RESULTS (40) (16) (366) 36 February 14, 2023 31#322022 income statement in €m 2021 (1) 2022 Net Sales 70,462 81,385 Net sales, net of loyalty program costs 69,669 80,543 Other revenue 2,091 2,546 Total revenue 71,760 83,089 Cost of goods sold (56,865) (66,776) Gross margin 14,896 16,313 SG&A (10,837) (11,958) Recurring operating income before D&A (EBITDA) 4,307 4,613 Amortization (1,864) (1,978) Recurring operating income (ROI) 2,194 2,377 Recurring operating income including income from associates 2,206 2,427 and joint ventures Non-recurring income and expenses (366) 36 Operating income 1,840 2,463 Financial expense (270) (490) Income before taxes 1,570 1,973 Income tax expense (360) (408) Net income from continuing operations, Group share Net income from discontinued operations, Group share 1,002 1,368 70 (21) Net income, Group share Adjusted net income, Group share Depreciation from supply chain (in COGS) (1) Carrefour Taiwan reclassified as held for sale as per IFRS 5 FY 2022 RESULTS 1,072 1,348 1,126 1,212 (248) (258) February 14, 2023 32#33Tax expense 2021 in €m 2021(1) 2022 reported Income before taxes 1,632 1,570 1,973 Non-recurring income and expenses, net (374) (366) 36 Income before taxes (excl. non-recurring income and expense and net income from 2,005 1,936 1,937 associates) Full-year normative tax rate (2) 29.9% 30.2% 28.8% Normative tax expense Evolution of the geographic mix and decrease in corporate tax rate in France (from 28.4% to 25.8%) (599) (585) (557) Non income-based taxes (mostly CVAE (3)) (31) (31) (39) Others 258 256 188 Total tax expense (372) (360) (408) Effective tax rate 22.8% 23.0% 20.7% (1) Carrefour Taiwan reclassified as held for sale as per IFRS 5 (2) Full year Normative tax rate: - Reflects Carrefour's geographic footprint and the relative weighting of each country Calculation based on local corporate income tax rate applied to pre-tax income excluding non-current items (3) CVAE: local business tax in France based on a modified taxable income, recorded as corporate income tax; rate decrease by half starting in 2021 FY 2022 RESULTS February 14, 2023 33#34Earnings per share (€ per share) 2021(1) 2022 Net income from continuing operations, Group share 1.27 1.85 Net income from discontinued operations, Group share 0.09 (0.03) Net income, Group share 1.36 1.82 Adjusted net income, Group share 1.43 1.63 Weighted average number of shares (in millions) 786.9 741.4 Number of shares, year-end (in millions) 766.4 730.6 (1) Carrefour Taiwan reclassified as held for sale as per IFRS 5 FY 2022 RESULTS February 14, 2023 34#35Enhanced liquidity and solid balance sheet 1,899 Debt redemption schedule (in Єm) 1,534 932 316 1,686 186 1,370 120 850 750 750 1 500 1 250 › Credit Rating as of December 31, 2022: BBB stable outlook by S&P Baa1 stable outlook by Moody's (Moody's raised the outlook for Carrefour to "stable" in May 2021) > On December 31, 2022, average bond debt maturity is at 3.6 years > July 2022: Bond redemption for €1,000m (1.75% coupon) > 2 credit facilities for €3.9bn undrawn to date EMTN program updated in May 2022 to update a CSR component 1 217 967 0.49% 0.51% 1.25% 1.83% 2.08% 4.13% 2.38% > 2023 2024 2025 2026 2027 2028 2029 % Average annual coupon on Euro Bonds Bonds in euros(1) BRL debt (in € equivalent) (1) Including US$ denominated bonds swapped in euros FY 2022 RESULTS February 14, 2023 35#36Stores under banners at end Q4 2022 (#) Hypermarkets Supermarkets Convenience Cash & Carry Soft discount Sam's Club Total France 253 1,039 4,472 148 33 5,945 Other European countries 455 2,088 3,471 12 91 6,117 Spain 205 160 1,050 55 1,470 Italy 42 439 1,024 12 I 1,517 Belgium 40 441 313 794 Poland 94 155 672 Romania 43 189 142 7 29 928 403 Others 31 704 270 1,005 Latin America 252 246 581 356 97 43 1,575 Brazil 170 151 149 343 97 43 953 Argentina 82 95 432 13 622 Others (1) 168 469 49 25 711 Total 1,128 3,842 8,573 541 221 43 14,348 (1) Africa, Middle-East, Dominican Republic and Asia FY 2022 RESULTS February 14, 2023 36#37DISCLAIMER This presentation contains both historical and forward-looking statements. These forward- looking statements are based on Carrefour management's current views and assumptions. Such statements are not guarantees of future performance of the Group. Actual results or performances may differ materially from those in such forward-looking statements as a result of a number of risks and uncertainties, including but not limited to the risks described in the documents filed with the Autorité des Marchés Financiers as part of the regulated information disclosure requirements and available on Carrefour's website (www.carrefour.com), and in particular the Universal Registration Document. These documents are also available in the English language on the company's website. Investors may obtain a copy of these documents from Carrefour free of charge. Carrefour does not assume any obligation to update or revise any of these forward-looking statements in the future.

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