Ahold USA: Strong Positions and Strong Positions and Focused On

Ahold USA: Strong positions and focused on execution

Carl Schlicker COO Ahold USA November 29, 2012

Proprietary and Company Confidential Key takeaways

Our businesses: • Ahold USA’s divisions collectively are the largest player in the diverse markets of the U.S. Northeast • The divisional structure allows us to act locally while leveraging our scale

Our pppposition in the competitive landscape: • Each of our divisions has targeted activities to ensure that they are well-positioned to hold and grow their leading positions • Our divisions continue to gain market share in a diverse competitive landscape

Our business model to grow: • We are executing on the Reshaping Retail framework to drive growth

Our performance: • Ahold USA continues delivering a healthy and consistent bottom line

Proprietary and Company Confidential 2 Our businesses: • Ahold USA’s divisions collectively are the largest player in the diverse markets of the U.S. Northeast • The divisional structure allows us to act locally while leveraging our scale

Proprietary and Company Confidential 3 The #5 supermarket retailer in the US and #1 in the Northeast

1 support organization

4 divisions

98 years of local heritage

772 stores

119,000 emppyloyees

$25 billion+ in sales Market leader in 3 of our 4 divisions

Source: Progressive Grocer Super 50 - 2012 Ranking

Proprietary and Company Confidential 4 772 stores serving a trading area of 38 million people: #1 itfktin most of our markets Market # stores 2011 position sales

#1 217 $7.5B

#3 183 $5.7B

#1 173 $5.3B

#1 183 $6. 1B

#1 n/a $0.4B

Proprietary and Company Confidential 5 Operating in markets with differing demographics…

Ethnicity Income distribution

4% 9% 6% 11% 4% 7% 7% 23% 13% 5% 9% 27% 38% 40% 9% 23%

54% 59% 81% 86% 69% 48% 49% 58%

19% 18% 14% 11%

New York New England Giant Landover Giant Carlisle New York New England Giant Landover Giant Carlisle Metro Metro

white black hispanic other low (<$25K) medium ($25K to $99K) high(>$100K) Source: Population Division – U.S. Census Bureau

Proprietary and Company Confidential 6 The divisions are able to act locally while leveraging our combined scale

2006 - 2009 2010 Reposition Transition Grow!

Cost effectiveness 2011 - 2017 Simplify Grow! Accomplishments Vendor leverage Increase organizational effectiveness Localness

Create platform for growth

Proprietary and Company Confidential 7 Our organizational structure enables us to grow

Support functions for our divisions Finance, Real Estate, IT

Legal

Supply Chain

Marketing and Merchandising

Human Resources

Local operations and execution

Proprietary and Company Confidential 8 We have a diverse and strong leadership team

COO USA Finance, Real Estate, Carl Schlicker & IT Peapod Paula Price Andrew Parkinson

Human Resources Merchandising Mark McGowan Kathy Russello (Interim)

Legal Marketing Tom Hippler Erik Keptner

Supply Chain Operations Mark McGowan Bhavdeep Singh

Giant Carlisle Giant Landover New England New York Metro Rick Herring Anthony Hucker Joe Kelley Don Sussman

Proprietary and Company Confidential 9 We continue to execute against our strategic framework

Proprietary and Company Confidential 10 Our businesses: • Ahold USA’s divisions collectively are the largest player in the diverse markets of the U.S. Northeast • The divisional structure allows us to act locally while leveraging our scale

Our business model to grow: • We are executing on the Reshaping Retail framework to drive growth

Our performance: • Ahold USA continues delivering a healthy and consistent bottom line

Proprietary and Company Confidential 11 Everyone sells food in the United States

M/SMass / Supercent ers Clubs

Drug / dollar and convenience E-commerce

Proprietary and Company Confidential 12 Grocery channel has been facing some volume shifting to other channels;;p however still represents almost 2/3 of the market

Ahold USA trading area Nielsen panel unit market share UPC items only

70% 66.9% 64.4% grocery 60%

16% 14.8% mass and super 14% 13.4% 12%

10% 9.5% 9.5% rem. channel 8% 6% 44%4.4% 49%4.9% drug 4% 4.0% wholesale / club 3.5% 2.5% dollar 2% 2.2% 0% 2008 2009 2010 2011

Proprietary and Company Confidential 13 Out of six units that customers purchase, at least one of them is with us

Ahold USA trading area Nielsen panel unit market share UPC items only: First half 2012

TOTAL 100.00% 100.00% 100.00% 100.00%

Grocery channel 65.2% 68.2% 58.4% 63.2%

Ahold 23.2% 11.8% 17.6% 23.6%

Remaining market 42.1% 56.4% 40.8% 39.6%

Drug channel 5.3% 5.2% 3.8% 3.7%

Mass merch and superstore channel 14.3% 8.8% 18.9% 20.0%

Warehouse club channel 1 3.8% 5.0% 5.1% 2.5%

Remaining outlets 11.3% 12.8% 13.8% 10.6%

Proprietary and Company Confidential 14 New England: Enhancing the value equation for customers

Our market share: all outlets Our competitors Nielsen panel unit market share UPC items only: Q2 2012 Nielsen retail ACView 23.4% Larger players

No 1 No 2 No 3 No 4

# stores 217 69 78 103 No 1 No 2 No 3 No 4

Our market share: all outlets Nielsen panel unit market share change UPC items only: H1 2012 Smaller presence players

# stores 10 27 1

Proprietary and Company Confidential 15 We are well positioned to face competition: Walmart example

Walmart expanded a location in Cranston, RI to a Super Context Center on 11/01/2011. Expansion was projected to impact seven Stop & Shop stores

Completed market assessment Goal: protect Primary HHs Focus areas: Our approach • price adjustments in key nonperishable categories • incremental promotional activity • minor facility maintenance • operational excellence • customer service

Post opening sales trend for impacted stores: Results 4 wk: +5.3% 12 wk: +1.3%

Proprietary and Company Confidential 16 New York Metro: Expanding our presence to drive growth

Our market share: all outlets Our competitors Nielsen panel unit market share UPC items only: Q2 2012 Nielsen retail ACView Larger players

No 1 No 2 No 3 No 4 11.9%

# stores 157 228 185 73 No 1 No 2 No 3 No 4

Our market share: all outlets Nielsen panel unit market share change UPC items only: H1 2012 Smaller presence players

# stores 41 19 10

Proprietary and Company Confidential 17 Giant Landover: Investment in store improvements has accelerated growth

Our market share: all outlets Our competitors Nielsen panel unit market share UPC items only: Q2 2012 Nielsen retail ACView

16. 9% Larger players No 1 No 2 No 3 No 4

# stores 171 63 124 96 40 No 1 No 2 No 3 No 4

Our market share: all outlets Nielsen panel unit market share change UPC items only: H1 2012 Smaller presence players

# stores 20 16 11

Proprietary and Company Confidential 18 We are well positioned to face competition: Shoprite example

Shoprite opened a new location in Lutherville, MD on Context 7/28/2011. Opening was projected to impact one Giant Food store located directly across the street

Completed market assessment Goal: protect Primary HHs Focus areas: Our approach • operational excellence • customer service (Front End) • minor facility reset • incremental promotional activity

Post-opening sales trend for impacted store: Results 4 wk: +7.7% 12 wk: +11.0%

Proprietary and Company Confidential 19 Giant Carlisle: Steady performer with continued high levels of quality and service

Our market share: all outlets Our competitors Nielsen panel unit market share UPC items only: Q2 2012 Nielsen retail ACView

22. 9% Larger players

No 1 No 2 No 3 No 4

# stores 198 112 126 37 No 1 No 2 No 3 No 4

Our market share: all outlets Nielsen panel unit market share change UPC items only: H1 2012 Smaller presence players

# stores 19 14 11

Proprietary and Company Confidential 20 We are well positioned to face competition: Wegmans example

Wegmans opened a new location in King of Prussia, PA Context on 5/06/2012. Opening was projected to impact four Giant Food stores

Completed market assessment Goal: protect Primary HHs Focus areas: Our approach • labor investment • operational excellence • customer service • employee training • incremental promotional activity • minor facility maintenance Post-opening sales trend for impacted stores: Results 4 wk: +7.0% 12 wk: +7.4%

Proprietary and Company Confidential 21 A timely, well-developed plan allows us to be successful when a new competitor store opens in one of our markets Leverage strategic toolbox

Approach 1 2 3 Market Strategy and Approval and Competitive • Upgrade our stores assessment ++=tactics execution action plan • Understand surrounding • Landscape • Financial return competition and their offers • Merchandising • Financial review • Coordinate approvals • Assess risks of potential • Pricing / Promotion • Customer analysis • Plan communication new entries • Marketing / Advertising • Strategy / objectives • Execute tactics • Build base sales • Operations plan

Pre-launch timingCompetitor Post-launch -8+ -4-6 -3 -1-2 +6 On-going -12 to -18 months monitoring months months months months opens months of plan

Proprietary and Company Confidential 22 Our 20 years of experience in loyalty programs help us to better understand customers

Loyyyalty card usa ge Card programs 85.5%

74.3% 1993 2000 2000 + 2004 2005 2009

Sales Transactions CCR programs and partners Ahold USA

Proprietary and Company Confidential 23 We are a successful retailer

Market leader in almost each division

Strong brands

Strategically located stores

Strong and ex perienced teams

We understand our customer needs

Effective approach to face competition

Significant capital plans

Stringent cost containment

Proprietary and Company Confidential 24 Our businesses: • Ahold USA’s divisions collectively are the largest player in the diverse markets of the U.S. Northeast • The divisional structure allows us to act locally while leveraging our scale

Our business model to grow: • We are executing on the Reshaping Retail framework to drive growth

Our performance: • Ahold USA continues delivering a healthy and consistent bottom line

Proprietary and Company Confidential 25 We continuously work to lower our cost base in order to invest in price and to deliver value to customers

Drive sales

Win new Grow our customers businesses and + Allocate capital deliver a consistent bottom line

Proprietary and Company Confidential 26 We are focused on enhancing our price image by offering competitive pricing and communicating it to customers

Value communication

Closely Multi-variable Targeted monitoring pricing and price key value + promotions + investment + items engine

Price perception improvement

Proprietary and Company Confidential 27 We continue investing in our multi-tiered own brands and we are on target to deliver 40% penetration by 2015

Natural / Organic

Mid-tier Value

Premium

Proprietary and Company Confidential 28 We have consistently invested in our stores to keep our store base up-to-date

Depreciation + Amortization vs. Capital investment*

4.0% 3.5% 3.4% 3.1% 3.0% 3.0%3.2% 3.2% 3.1% 29%2.9% 28%2.8% 27%2.7% Refreshed stores

f net sales for an improved oo % shopping 2007 2008 2009 2010 2011 2012E experience Depreciation + amortization expense Capital investment excluding major acquisition: Ukrops and Genuardi’s

* Capex includes storing and non-storing capital investment

Proprietary and Company Confidential 29 By investing close to $1billion per year in CAPEX*, we are decreasing the average age of our stores by almost a year

Average store age

2007 68yrs6.8 yrs 88yrs8.8 yrs 62yrs6.2 yrs 72yrs7.2 yrs

2012 est 61yrs6.1 yrs 60yrs6.0 yrs 63yrs6.3 yrs 63yrs6.3 yrs 63yrs6.3 yrs

(*) CAPEX includes storing and non-storing capital investment

Proprietary and Company Confidential 30 Project Refresh in Giant Landover has generated an attractive return on investment and sales lift

Before

2009 – 2012* results:

1 Re fres h s tores sa les lift is +700bps hig her than non-refresh stores After 2 Refresh stores Return on Capital has improved +70bps more than non-refresh stores

* 2012: includes last twelve months

Proprietary and Company Confidential 31 We are successful in integrating acquired stores into our businesses

25 stores

2stores2 stores 1 store

2 stores 15 stores

5 stores Norkus 5 stores Acqu ire d s tores 2009 - 2012

Proprietary and Company Confidential 32 In upgrading the newly acquired stores we take a responsible approach to CAPEX

Upgrading store interiors Right sizing the critical areas Enhance fresh prepared foods

Hybrid décor Wall of values Store package produced salads

Upgraded Kosher Store- refrigeration expansion breaded / system fried chicken

Lighting Natural / Scratch made re-lamp Organic pizza

Proprietary and Company Confidential 33 We have a thorough cost saving program in place across multiple areas of our company

Realized savings (in $million) We are on track to deliver over $325 million in savings

$90

$78 $325 We are focused on transformational savings $157 to continue investing in our business 2010 2011 2012 Est Total

Proprietary and Company Confidential 34 We are executing on strategies to accelerate growth

Offering

Acquisitions

Own brands

Multi-channel Relevant loyalty programs

Proprietary and Company Confidential 35 We are committed to deliver on our promises to be Better Every Day

Proprietary and Company Confidential 36 And customers acknowledge it

Overall customer satisfaction

71% 69% 63% 61% 59% 56% 60% 58%

New England New York Giant Landover Giant Carlisle

Q3 2011 Q3 2012

Source: Ahold USA Customer Satisfaction Tracking Study

Proprietary and Company Confidential 37 Our businesses: • Ahold USA’s divisions collectively are the largest player in the diverse markets of the U.S. Northeast • The divisional structure allows us to act locally while leveraging our scale

Our business model to grow: • We are executing on the Reshaping Retail framework to drive growth

Our performance: • Ahold USA continues delivering a healthy and consistent bottom line

Proprietary and Company Confidential 38 Our strong performance has resulted in continued unit market share gains in both the grocery and all outlet channels

Unit market share trend – grocery channel Unit market share trend – all outlet channel Unit market share , Nielsen Scan-track UPC items only

21.5% 31%

30.3% 21.0% 30%

20.7% 20.5% 29%

28% 20.0%

27% 19.5%

P1 P2 P3 P4 P5 P6 P7 P8 P9 P10 P11 P12 P13 P1 P2 P3 P4 P5 P6 P7 P8 P9 P10 P11 P12 P13

2010 2011 2012 2010 2011 2012

Note: Genuardi’s acquisition reflected starting Period 9 2012

Proprietary and Company Confidential 39 We continue growing sales every quarter and delivering a healthy and consistent bottom line

Sales growth Compp(g) sales (ex gas) Underlyyging EBIT

10% 5% 5%

4% 8% 4% 3% 6% 3% 2%

4% 1% 2%

0% 2% 1% -1%

0% -2% 0%

(*) Q4’10 Q1’11 Q2’11 Q3’11 Q4’11 Q1’12 Q2’12 Q3’12 (*) Q4’10 Q1’11 Q2’11 Q3’11 Q4’11 Q1’12 Q2’12 Q3’12 (*) Q4’10 Q1’11 Q2’11 Q3’11 Q4’11 Q1’12 Q2’12 Q3’12

(*)Compared to Q4 ’ 09 - 12 wks equivalent

Proprietary and Company Confidential 40 Key takeaways

Our business model to grow: • We are executing on the Reshaping Retail framework to drive growth

Our performance: • Ahold USA continues delivering a healthy and consistent bottom line

Proprietary and Company Confidential 41 Safe harbor

Today’s presentations include forward-looking statements, which do not refer to historical facts but refer to expectations based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those included in such statements. These forward-looking statements include, but are not limited to, statements as to Ahold’s performance compared to the market , organizational structure, investments in price and value, growth strategy, focus on local operations, cost, store efficiency and productivity, associates, delivering on promises, inventory reduction, standardization, financials, shopping model, digital solutions, food and non-food marketplace opportunities and pick-up points. These forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by the forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond Ahold’s ability to control or estimate precisely, such as the effect of general economic or political conditions, fluctuations in exchange rates or interest rates, increases or changes in competition, Ahold’s ability to implement and complete successfully its plans and strategies, the benefits from and resources generated by Ahold’s plans and strategggies being less than or different from those antici pated, chan ges in Ahold’s li qyquidity needs, the actions of com petitors and third parties and other factors discussed in Ahold’s public filings and other disclosures. The audience is cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of these presentations. Koninklijke Ahold N.V. does not assume any obligation to update any public information or forward-looking statements in these presentations to reflect subsequent events or circumstances, except as may be required by applicable laws. Outside the Netherlands, Koninklijke Ahold N. V., be ing its reg is tere d name, presen ts itse lf un der the name o f “Roya l Aho ld” or s imp ly “Aho ld”.

Nielsen Information does not constitute a reliable independent basis for investment advice or Nielsen’s opinion as to the value of any security or the advisability of investing in, purchasing or selling any security

Proprietary and Company Confidential 42