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Dick Boer Aho Ld, CEO the Ahold Strategy Team

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Dick Boer Aho Ld, CEO the Ahold Strategy Team Dick Boer Aho ld, CEO The Ahold Strategy Team CEO CFOCCDO CCGC COO COO Ahold Europe Ahold USA Ahold is a great company today We excel at what we do Our strategy builds on our strengths To reshape retail and grow We are one of the largest and most successful food retailers in the world … ▪ Almost €30 billion in sales ▪ 3,000 stores in two main geographies ▪ Powerful consumer brands with leading positions in their markets ▪ Almost 130 years of local heritage ▪ Over 215,000 employees ▪ Millions of customers ▪ Consistently strong financial performance … with great local businesses in Europe and the US Our core markets are stable and advanced Europe United States ▪ High GDP/capita, stable, health- ▪ Active in high GDP/capita and urbanized conscious consumers states ▪ Active in highly urbanized and dense ▪ Most advanced retail markets in the US areas ▪ Significant growth potential: 49 million ▪ Ability to grow the business beyond the inhabitants in Ahold division geographies current borders Source: United Nations While we also have joint ventures that operate successful brands ICA JMR Portugal ▪ Leading market positions in Sweden ▪ Pingo Doce is the largest supermarket and the Baltic States chain in Portugal (~19% market share) ▪ Cooperation on key areas like sourcing ▪ Best-in-class supermarkets and own brand development ▪ Profitable business with attractive yield ▪ First signs of Norway’s recovery visible ▪ New CEO starts in April 2012 The basis of our success is a proven business model ~3% Focused and efficient capex lllevels – percentfltage of sales 1 Ahold total We consistently outperform our peers … ID sa les grow th, percent Europe US 2007 2008 2009 2010 YTD Q3 2011 … andtitd continue to grow mark kthiet share in our maj or mark ktets Source: Nielsen / Supermarket Channel Share / Annual Report Our ability to balance margins and growth puts us in the top quartile of the industry Operating margin 2010 Percent Walmart Tesco Del- Ahold Ahold haize 2010 2007 Carrefour Safeway Kroger Sales growth 2010 Percent Source: Annual reports; SEC 10 K/Q reports We have a strong cash generating business … Operating cash flo w Total ret urn to shareholders Percent of sales Last 5 years, percent Ahold EU median excl. Ahold (3.9)% Food peers US median 19.8% 7 6 5 4 2007 08 09 2010 Source: Thomson data Source: JP Morgan, as of November 7, 2011 … providing high returns to our shareholders Ahold is a great company today We excel at what we do Our strategy builds on our strengths To reshape retail and grow The basis of our success is a proven business model We have massively simplified our organization since 2009 and strengthened our local businesses Mirrored continental organizations Albert Albert Albert GALL & S&S S&S Giant Giant ETOS Albert.nl Peapod CZ/SK Heijn B/D Heijn GALL NE NYM Landover Carlisle IM IM Legal Legal ▪ Strategy Office Real Estate & Construction Real Estate & Construction ▪ Strategy Office Finance Finance HR HR Sourcing Supply chain Franchise Merchandising & Marketing Ahold Europe CtCtCorporate Center Ahold USA We have consistently reduced our costs Cost reduction, 2007 - 09 Cost reduction, 2010 - 11 EUR millions EUR millions EUR 800 million cost 500 savings in 5 years 300 ▪ Automated replenishment ▪ Outsourcing ▪ Overhead reduction True application of 3-year cost reduction program ▪ Labor our business model achieved early (after 2 years) Albert Heijn has transformed its business to lower costs while maintaining high service levels 1 Incl. store cost, logistics, marketing, and administration Source: Annual reports; company information; supply chain excellence study Excellent relationships with our suppliers bring us operational benefits Europe United States #1 buying o rga nizat io n in NL #5 buying o rga nizat io n ▪European sourcing responsible ▪Close cooperation on for >€20 billion in sales merchandisingggg leveraging our loyalty programs ▪Unique preferred supplier ▪Effective promotions relationships for fresh –Early product innovation –Value chain benefits The basis of our success is a proven business model We have a proven track record of reinvesting savings into our value proposition We are using skills from our successful Albert Heijn Own Brand program in the US and CZ Alber t He ijn Ahold USA Key statistics Key statistics ▪ Over 50% Own Brands penetration ▪ Over 33% Own Brands penetration (> 30% excl perishables) (> 17% excl perishables) ▪ Over 9,100 products ▪ Over 4,500 products ▪ One Ahold Europe organization for ▪ One Ahold USA organization for product development and sourcing product development and sourcing Our outstanding customer loyalty programs in the US deliver ID sales growth … Card usage, Ahold USA ▪85% of total sales ▪74% of total transactions Card usage, Albert Heijn ▪75% o f to ta l sa les ▪50% of total transactions ... and we will accelerate the program in Europe We know how to win against discount operators in the US … 1 Market share is for All Outlets and is based on the relevant market as defined by Ahold for UPC-reported Food Source: Nielsen Homescan Reported Market Share Data (UPC coded); Nielsen reports – confidential data … and in the Netherlands Context ▪ >50% of Albert Heijn stores are in direct competition with Aldi ▪ >40% with Lidl Our value strategy ▪ Lean operations ▪ Competitive pricing ▪ Assortment build up (own brands incl. euroshopper) ▪ Quality drivers: locations, service Source: Nielsen and company estimates We are in the right formats for the future HdHard Supermarkets Small stores Online Hypermarkets Cash & Carry discount ▪ Core format ▪ Differentiation to optimally serve ▪ Almost 130 years relevant customer demand experience ▪ Utilizing core supermarket skills ▪ Continuous ▪ First mover convenience NL, and innovation and online US and NL optimization Our supermarkets have leading positions in almost all our main markets Mar ke t s hare, in percen t, 2010 1 Market share is for All Outlets and is based on the relevant market as defined by Ahold for UPC-reported Food Source: Nielsen Homescan Reported Market Share Data (UPC coded); Nielsen reports – confidential data We have a fantastic convenience and smaller store model in Europe Key statistics Small and city stores ▪ >100 stores ▪ 8,000-10,000 SKUs Scale ▪ Average of < 750 sqm ▪ Number of existing store base ▪ Average sales/sqm: € 200 ▪ Strong profitability Skill ▪ Enabled by excellent To go ▪ >50 stores supply chain and store ▪ 1,200 SKUs operations model ▪ Average of ~150 sqm ▪ Assortment diversity ▪ Average sales/sqm: € 500 ▪ Above-average profitability We are the number 1 online food retailer in the US and the Netherlands ▪ Number 1 online grocery retailer in the US ▪ 20 million customers have been served since 1989 ▪ Currently operates in 13 states Scale ▪ 2 fulfillment centers and 21 warerooms ▪ #1 in the markets ▪ ~ 12,000 SKUs Skill ▪ Number 1 online grocery retailer in the Netherlands ▪ Existing infrastructure & ▪ Serving an area with more than 50% of the inhabitants knowledge of the Netherlands ▪ Founded in 1987 (name changed to Albert.nl in 2001) ▪ 2 dedicated distribution centers ▪ ~ 9, 000 SKU s Ahold is a great company today We excel at what we do Our strategy builds on our strengths To reshape retail and grow The world we live in today is changing fast Health & wellbeing Urbanization Information age Globalization Time pressure Value chain power shift Social responsibility Scientific breakthroughs Demographic changes Energy crunch Value Emerging markets Technology is transforming the way people shop … … and the consumer is in control Consumers expect retailers to be responsible •83% believe it is important for companies have environmental programs •22% of consumers will pay more for eco-friendly products Source: Aug 2011 Nielsen study: Sustainable Efforts & Environmental Concerns Around the World We are positioned and ready to take advantage of today's opportunities Our strategy Strategic Pillars 1. Increasing customer loyalty 2. Broadening our offering reating growth CC + 3. Expanding geographic reach 4. Simplicity 5. Responsible retailing growth Enabling 6. People performance Our businesses will be our customers’ favorite ppplace to shop Our strategy ▪ Building on our fantastic Strategic Pillars programs and partnerships 1. Increasing customer loyalty 2. Broadening our offering ating owth ee rr g Cr Con tr ibu te to ID sa les 3. Expanding geographic reach ▪ Touching every aspect growth by at least 1-2% 4. Simplicity of the customer h shopping experience ng tt 5. Responsible retailing grow Enabli 6. People performance We will provide our customers alternatives based on their changgging needs Our strategy ▪ Strengthen our ▪ Increase own brand Strategic Pillars Supermarkets supermarkets penetration to ~40% through assortment in US 1. Increasing customer loyalty and local offering ating 2. Broadening our offering owth ee ▪ Minimum of 200 gr Cr convenience stores 3. Expanding geographic reach ▪ Increase depth of Small stores (AH To Go) market coverage 4. Simplicity through small h Triple online sales ng ▪ tt stores 5. Responsible retailing and drive profitability grow Enabli 6. People performance Online ▪ Accelerate our online business We will bring our shopping experience to more people scale Our strategy ▪ Expand in our Strategic Pillars current markets 1. Increasing customer loyalty 2. Broadening our offering ating owth ▪ Expand into ee gr Cr surrounding 3. Expanding geographic reach markets 4. Simplicity h ng tt 5. Responsible retailing ▪ Enter new grow Enabli geographies 6. People performance skill
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