EL Puerto de Liverpool S.A.B. de C.V

March, 2017 Safe Harbor Statement

This presentation has been prepared by El Puerto de Liverpool, S.A.B. de C.V. (together with its subsidiaries, “Liverpool”), is strictly confidential, is not intended for general distribution and may only be used for informational purposes. This presentation may contain proprietary, trade-secret, and commercially sensitive information and neither this presentation nor the information contained herein may be copied, disclosed or provided, in whole or in part, to third parties for any purpose. By receiving this presentation, you become bound by the above referred confidentiality obligation and agree that you will, and will cause your representatives and advisors to, use the information contained herein only to evaluate a credit rating for Liverpool and for no other purpose. Failure to comply with such confidentiality obligation may result in civil, administrative or criminal liabilities. The distribution of this presentation in other jurisdictions may also be restricted by law and persons into whose possession this presentation comes should inform themselves about and observe any such restrictions.

Although the information presented in this document has been obtained from sources that Liverpool believes to be reliable, Liverpool does not make any representation as to its accuracy, validity, timeliness or completeness for any purpose. The information set forth herein does not purport to be complete and Liverpool is not responsible for errors and/or omissions with respect to the information contained herein. Certain of the information contained in this presentation represents or is based upon forward-looking statements or information. These forward-looking statements may relate to Liverpool’s financial condition, results of operations, plans, objectives, future performance and business, including, but not limited to, statements with respect to outlooks and growth prospects, liquidity, capital resources and capital expenditure, growth in demand for our products, economic outlook and industry trends, development of our markets, competition in areas of our business; and plans to launch new products and services, and the effect of legal proceedings and new laws, rules and regulations and accounting standards on Liverpool’s financial condition and results of operations. All statements contained in this presentation that are not clearly historical in nature are forward-looking, and the words “anticipate,” “believe,” “continues,” “expect,” “estimate,” “intend,” “project” and similar expressions and future or conditional verbs such as “will,” “would,” “should,” “could,” “might,” “can,” “may” or similar expressions are generally intended to identify forward-looking statements. The information in this presentation, including but not limited to forward-looking statements, applies only as of the date of this presentation and is not intended to give any assurance as to future results. Liverpool and its advisors expressly disclaim any obligation or undertaking to update or revise the information, including any financial data and forward-looking statements, and will not publicly release any revisions they may make to this presentation that may result from events or circumstances arising after the date of this presentation.

Any projections included herein have been prepared based on Liverpool’s views as of the date of this presentation of future events and financial performance and various estimations and assumptions, including estimations and assumptions about future events, may prove to be incorrect or may change over time. The projections have been prepared and are set out for illustrative purposes only, and do not constitute a forecast. While the projections are based on assumptions that Liverpool believes are reasonable under the circumstances, they are subject to uncertainties, changes (including changes in economic, operational, political, legal, and other circumstances) and other risks, all of which are beyond Liverpool’s control and any of which may cause the relevant actual, financial and other results to be materially different from the results expressed or implied by such projections. No assurance, representation or warranty is made by any person that any of the projections will be achieved and no recipient should rely on the projections. None of Liverpool, its affiliates, Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated or any of their respective directors, officers, employees, partners, shareholders, advisers and agents makes any assurance, representation or warranty as to the accuracy of the projections. Nothing contained in this presentation may be relied upon as a guarantee, promise or forecast or a representation as to the future. Liverpool undertakes no obligation to update the projections or any of the information contained in this presentation. 2

Investment highlights

One of the leading department store retailers with national presence in prime 1 locations

2 Highly recognized brand, consistently in the top of mind of consumers

3 Unique and proven integrated business model

4 Distinctive customer-centric, family-oriented product offering

Experienced management team with proven track record and strong corporate 5 governance

Strong financial performance with robust cashflow generation and a disciplined 6 leverage policy

Attractive macroeconomic and retail sector fundamentals in for continued 7 growth 3 Liverpool at a glance

. Founded in the 19th century, with ~170 years of successful track record . Highly recognized brand, consistently in the top of mind of consumers . One of the leading department store retailers with national presence in prime locations Synergies

Liverpool Unique and proven integrated business model strives to provide an Consumer Finance Retail Department Shopping outstanding Stores & Boutiques Centers and . Leading non-bank and seamless third largest credit card . 118 department . More than shopping issuer in Mexico stores (+1.5mm sqmt) 1,500 tenants experience . in prime locations across all More than 4mm credit . Occupancy rate channels card holders . Leading e-commerce of 96% . ~46% of the total retailer . With ~470K m2 commercial sales were of GLA through own credit cards Synergies 4 Economics

Remittances grow in USD and Pesos terms Consumer Price Index

Var USD Var MXN Still below maximum, facing the Fx effects 45.0% 8% 35.0% 6.5% 6% 4.4% 4.7% 25.0% 3.8% 3.8% 3.6% 4.0% 4.1% 4% 3.6% 3.4% 15.0% 2.1% 2% 5.0% 0%

-5.0% ´07 ´08 ´09 ´10 ´11 ´12 ´13 ´14 ´15 ´16 jan

2007 2010 2013 2008 2009 2011 2012 2014 2015 2016 2006 ´17Jan -15.0% ‘17 -25.0%

Source: Banxico & Inegi 5 Economics ANTAD FY 2016 . ANTAD (local NRF) SSS figures reflect a growth of 6.3% YTD . Specifically, department SSS grew 7.0%

ANTAD Walmex 18.0 16.0 14.0 12.0 10.0 8.0 6.0 4.0 2.0 - 2010 2011 2012 2013 2014 2015 2016

Source: ANTAD & Walmart 6 Economics Employment Formal employment & economic growth Wages Index (jan-09 = 100) % Annual

Labor Reform Salaries Employment Approval (2012)

Dec-06 Dec-08 Dec-10 Dec-12 Dec-14 Dec16 Formal employment

Jan-09 May-11 Sep-13 Jan-16

Source: INEGI, BANXICO, -Ixe 7 Economics Consumer Confidence Index CCI & INEGI Sales (YoY change %) 15.0 10.6 10.0 5.0 0.0 -5.0 -10.0 -15.0 -20.0 -25.0 -25.7 -30.0 2013 2014 2015 2016 2017 ICCCCI VentasSales & INEGI INEGI At this moment, What is the possibility that you buy At this point in time, How do you consider that the economic durable goods? situation of the country will be in a year from now?

120.0 120.0

110.0 110.0

100.0 100.0

90.0 90.0

80.0 80.0

70.0 70.0 60.0 60.0 50.0 50.0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Ajustado por estacionalidad Tendencia Seasonality Adjustment Trend AjustadoSeasonality por Adjustment estacionalidad TendenciaTrend Source: INEGI & Santander 8 Economics Exchange Rate USD - MxPs

Source: Bloomberg 9 Attractive macroeconomic and retail sector fundamentals in Mexico for continued growth

Growing young population… Coupled with a rising middle class…

+90 2010 80-85 2030E 19% 21% 70-75 37% 18% 60-65 53% 32% 50-55

40-45 30%

30-35 20%

20-25 33% 10-15 27%

0-5 -8 -4 0 4 8 2000 2014 D/E D+ C A/B/C+

Source: CONAPO. Source: AMAI.

Strong market fundamentals make the retail sector an attractive investment 10 Consumer Trends

. Customers demand faster, more convenient services at any time through any channel and device. . Retailers investing in optimizing productivity, improving the retail experience and increasing shopper engagement. . Leveraging technology to deliver personalization. . Omnichannel is changing the retailing landscape, brick- and-mortar stores are evolving becoming a place for experiential shopping. . Retailtainment: adding an element of entertainment to the retail shopping experience.

Source: Euromonitor, “2016 DIGITAL CONSUMER INDEX: IDENTIFYING THE NEXT DIGITAL FRONTIERS”; ´”WHAT’S NEW IN RETAIL” ;MillwardBrown, “Brandz Top, jun´16 100”11 Economics Highly competitive and fragmented landscape

Strong Presence Across Multiple Socioeconomic Sectors 1,020 160 Full line department store 100% 850 86 119 87

Over 180,000 SKU’s 80% 379 32% of sku’s directly imported 37 from China, Europe and USA Stores Presence % 175 60% Private labels to target specific 2,362 100% economic sectors 825 100% 120 fashion specialty boutiques 40% 55 75% 16 24 22 Sales mix with no product 224 78% 20% category above 25% of total 32 3 sales

Omni-Channel sales strategy Low End Medium/Low Medium Medium/High High End

Source: WEB page of each company 12 Company Highlights Liverpool is a best in class retailer globally

EBITDA 30% The sphere size represents the number of stores Margin 25% 22.9%

20% 12.5% 16.3% 15% 14.0% 11.9% 13.0% 12.5% 12.6% 10% 11.5%

6.5% 7.0% 8.0% 5% 5.7% 5.1%

0% (10,000) - 10,000 20,000 30,000 40,000 50,000

Annual reports of each company Net Sales 13 (MM USD) Company Highlights Liverpool is one of the most valuable brands Mexico’s overall Top-Ten Latin America retail Top-Ten

Brand Sector Brand Country Beer Chile Communication México Communication Chile Retail Chile Beer Mexico Retail Brasil Food and Dairy México Industry Chile Banks Chile Communication Chile Source: Kantar Millwardbrown “Most Valuable Latin American Brands” 14 Company Highlights 4thQ2016 Release (Million Pesos)

15 Company Highlights 4thQ2016 Release

Balance Sheet

(million MxPs) 2016 2015 Chg % vs YA Cash / cash equivalent 25,574 8,583 +16,991 198.0% Loan portfolio 32,437 30,955 +1,482 4.8% Inventories 16,127 13,850 +2,278 16.4% Investment in associates 7,681 6,481 +1,200 18.5% Fixed assets 35,464 31,925 +3,539 11.1% Investment properties 17,594 16,305 +1,289 7.9% Other 13,523 7,750 +5,774 74.5% Total assets 148,401 115,849 +32,552 28.1%

Suppliers 19,107 15,211 +3,896 25.6% Short term loans 2,100 - +2,100 N/A Long term loans 28,472 14,096 +14,376 102.0% Other liabilities 16,973 14,835 +2,138 14.4% Total liabilities 66,652 44,142 +22,510 51.0%

Stockholders equity 81,749 71,707 +10,041 14.0%

16 Company Highlights 4thQ2016 Release . SSS growth of 5.8% and 7.6% for the year. . Increase in sales is wholly related to ticket growth . Plans for opening new stores during the year: 4 Liverpool and 6 Fábricas de Francia were delivered. This is a record high for the company in a year.

SSS Growth% Non-performing loans % / YoY Growth %

17 Leading non-bank credit card issuer…

Overview of consumer finance division Proprietary and comprehensive credit process

 Leading non-bank and third largest credit card issuer in Mexico  More than 4mm credit card holders Promotion R:229 R:255 R:248 Evaluation Analysis  Credit card sales account for ~46% of total sales G:65 G:82 G:153 B:151 B:150 B:40  NPLs of 4.0% as of 4Q16  Average duration of 9 months Collections Customer Grant R:124 R:176 R:231  Liverpool has the flexibility to scale down its credit offerings when Liverpoolmarket conditions / Fábricas de deteriorate Francia Liverpool Premium Credit Card G:124 G:210 G:236 Fraud Credit Card (VISA) Authorizations  Provides insurance services to its credit card holders prevention B:124 B:85 B:163 Customer service

Constitution of provisions Loan origination and portfolio management policy

 Historical creation of reserves have led to a solid balance sheet with  Consultation of the credit bureau in order to implement statistic capacity to cover uncollectible accounts (NPLs) models focused in analyzing customer’s capacity to pay credit

 The average loan loss provision since 2013 has been ~173%  Customized models for the risk management of each credit account, leading to low levels in the NPLs account (below industry average)

Liverpool’s integrated consumer finance division supports and enhances its retail business

18 Shopping center operations to complement retail offering and increase customer traffic

Overview of shopping centers Growing leasing area (‘000 sqm)  Development, leasing and management of shopping centers and retail premises  25 shopping centers with standardized high quality operations 460 470 470 400  More than 1,500 tenants with an average occupancy rate of 97% 339 − Average leasing period of 2 years 24 25 25 19 22 − No tenant accounts for more than 10% of GLA  GLA has more than doubled from 2005 to 2015  More than 100mm visitors per year  Liverpool is not a tenant of its shopping centers, all clients are third parties 2012 2013 2014 2015 LTMLTM4Q16 2Q16 GLA # of Malls  Balanced mix of entertainment, shopping and dining Consistent revenue growth Diversified across the country (Ps$ in millions)

$3,021 $2,926 $2,580 $2,707 $2,116

North: 3 shopping centers West: 2 shopping centers Central: 10 shopping centers 2012 2013 2014 2015 LTM 2Q16 : 5 shopping centers LTM3Q16 South: 5 shopping centers

Liverpool’s shopping centers are strategically located in Mexico’s most important cities 19 Omni-channel and social networks strategy

Omni-channel sales strategy Social networks and web page and superior customer service Summary 2016

• Over 119 million visits to Bricks & mortar Phone www.liverpool.com.mx

• Ecommerce sales increased 61% E-commerce reaching 2.8% of total commercial sales. Mobile devices • Social media had 565 million hits

• Liverpool’s social media network has Social networks over 4.1 million followers, a 51% increase over 2015

In-store kiosks 20 Extensive nationwide distribution network

One of the most extensive distribution networks among Mexican retailers State of the art facilities Huehuetoca

Hermosillo Juarez CDN Huehuetoca

Chihuahua CDN Tultitlan Obregon

Torreon Tacubaya Culiacan Victoria La Paz Mezatlan S.L.P. Aguascalients Tultitlán Leon CelavaSMA Merida Cancun Liverpool TrapuertoEcatepec Fabricas de Francia Regional warehouse Cardoba CuernavacaTehuacan Regional distribution center National distribution center Tuxtla

National distribution centers: +2mm Home deliveries, traveling more than 18mm km 95% Of SKU’s centrally received 2 Tultitlan (soft line) and Huehuetoca (big ticket)

+180k SKU’s +36mm Imported goods per year

An investment of US$240 million has been announced to 250 trucks and trailers 450 home delivery units build a new logistics facility

Liverpool’s distribution network is a key competitive advantage 21 Strategy going forward

Organizational Service Development

Suburbia’s CRM Integration

Omnichannel Experience

Private label credit card growth

22 Acquisitions

23

Founded in 1970 Suburbia National presence in Mexico (119 Stores)

North . 6 Stores Northeast . Leader in the apparel specialty retail sector in Mexico . 2.7% of total revenue . 9 Stores . 5.8% Sales CAGR (6 years) . 6.6% of total revenue . 8.6% Sales CAGR (6 years) . Total revenue 2015 Ps.13,406 mm (US$844 mm),

Southeast EBITDA Ps.1,862 mm (US$117mm) and 13.9% . 12 Stores . 8.6% of total revenue . 5.9% Sales CAGR (6 EBITDA margin years) Northwest . 5 Stores . The company has ~8,800 employees . 2.2% of total revenue . 4.6% Sales CAGR (6 years) Central . Positioning: Affordable fashion for the whole family . 55 Stores Southwest . 44.2% of total revenue . 7 Stores . 3.8% Sales CAGR (6 years) . 3.6% of total revenue Mexico City . 6.9% Sales CAGR (6 years) . 25 Stores . 32.0% of total revenue . 4.7% Sales CAGR (6 years) 24

Strategic rationale Favorable perspective in the apparel sector in Mexico Attractive opportunity to expand consumer base and enhance multi-format strategy −Suburbia is the leader on lower-income segment of the population Continue to strengthen presence in the central region of Mexico and expand underserved regions with high growth potential −Suburbia has prime locations, especially in Mexico City −Top positioned brand Private label portfolio of leading brands in its target market (~$8mm in sales during 2015; Weekend is the top selling clothing brand in México with 26% of total sales) Potential synergies: operational, additional categories, logistics, expansion of consumer financial business (credit and insurance), e-commerce, Fábricas de Francia Strong management team High potential for growth in categories such as shoes, jewelry and cosmetics Sound financial results and attractive margins Solid operational model: CATMex, PUC, low cost focus

25

Consolidated Key Financial Figures

Revenue 100,442 (1) 14,468 (1) 114,910 +14%

EBITDA 16,051 (1) 1,977 (3) 18,028 +12%

Sqmt (thousands) 1,608 (1,2) 461 (1, 4) 2,069 +29%

# stores 118 (1,2) 122 (1, 4) 240 +103%

(1) Actual results 2016 (2) 10 new stores (Buenavista 2017). Boutiques excluded (129) (3) 3Q16 U12M EBITDA. (4) 5 new stores 26 EL Puerto de Liverpool S.A.B. de C.V

Stock Information Bolsa Mexicana de Valores (BMV): LIVEPOL

Contact Information [email protected] www.liverpool.com.mx