Investor Presentation May 2017

CASH & CARRY WHOLESALE PRICES FOR A NO-FRILLS EXPERIENCE CASH & CARRY Promocash A ATACADÃO B2B pure play activities in France (Promocash) and Italy (Docks and Gross Iper) Hybrid B2B/B2C: Atacadão is a winning model in Brazil • Successful cross-fertilization based on Atacadão in other countries: Maxi in Argentina and initial Supeco in Spain 8,000 Average SKUs 4,121 Average Sqm 305 stores 59€ Average basket (Atacadão) INVESTOR PRESENTATION May 2017| 59

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