Investor Presentation June 2018 Investor Presentation • June 2018 1 CONTENTS 1 Casino Group overview 2 2017 Financial results 3 Casino Group’s growth drivers 4 Financial perspectives 5 Appendices Investor Presentation • June 2018 2 Casino Group 1 overview Investor Presentation • June 2018 3 Group Casino History: A unique DNA France (Premium & Convenience) International Digital 1992: Casino, founded in 1898, acquires Rallyes’ retailing business owned by Jean Charles Naouri 1996: First equity stake in Monoprix 1997: Casino acquires the Franprix and Leader Price networks 1998 - 2002: Expansion into Asia Big C (Thailand); Vindemia (Vietnam) 2000: Casino acquires 2005 - 2007: Expansion into Latam Libertad (Argentia); Éxito (Columbia); GPA (Brazil) 2005: Jean Charles Naouri, controlling shareholder, becomes CEO 2012: Casino takes effective control of GPA 2013: Casino becomes the sole owner of 2014: Creation and listing of a 2015: Combination of all Latam global e-commerce pure player operations under Éxito 2016: Sales of Asian operations and initiation Via Varejo disposal process 2017: Casino partners with Meraas 2017: Casino partners with Holding in UAE 2018: Monoprix acquires 2018: Monoprix partners with Investor Presentation • June 2018 4 Group’s formats well-adapted to current consumer trends across different geographies Well balanced contribution to 2017 sales: France 55%, Latam 45% LATIN AMERICA FRANCE Premium Cash & Carry, 18% Supermarkets & Brésil 27% 28% Convenience 30% E-Commerce Multivarejo,Brésil 23% 22% Hypermarkets Groupe Exito 43% 9% Discount & others GPA Food 73% ~60 % Best performing format #1 food retailer in Colombia Leader in Premium & Convenience . Subsidiary Exito, listed company . Extensive network of differentiated banners . 27% of Latam sales ; 1,852 stores . 9,200 stores . Presence in Argentina and Uruguay . Presence in Indian Ocean #2 food retailer in Brazil #2 in E-commerce & strong digital footprint . Subsidiary GPA, listed company . Cdiscount: #2 in France after Amazon. Strong focus on . 73% of Latam sales ; 1,081 stores digitalization across all banners . Major partnerships with Ocado and Amazon. Acquisition of Sarenza Investor Presentation • June 2018 5 A unique focus on four successfull formats PREMIUM CONVENIENCE E-COMMERCE CASH & CARRY SUPERMARKETS & OMNI-CHANNEL DISCOUNT • Large range of • Innovative range of • #2 e-retailer in France • Fast growing format services in stores products and services • 18M unique visitors • Ongoing gain of market • Best-in-class in fresh • Buoyant and profitable each month share and traffic products format • Ongoing development • 130th store in Brazil • Strong loyalty • Low sensitivity to price of new B2B and B2C • Format will be launched • Qualitative non-food • High expansion pace services in 2018 in Colombia offer at Monoprix with low capex • Data monetization Investor Presentation • June 2018 6 2017 Financial 2 Results Investor Presentation • June 2018 7 Organic growth* by sector of activity in 2017 In €bn 37.8 16.9 Latin America +6.4% 2.0 E-commerce +8.7% +3.2% +0.8% (France +Cdiscount) France Retail 18.9 +0.1% 2017 2017 Organic growth * Excluding fuel and calendar effects Investor Presentation • June 2018 8 2017 consolidated trading profit up 20.1% In €m +20.1% +36 +16.7% 1,207 1,242 1,034 2016 Trading profit 2017 Trading profit at constant Change effect 2017 Trading profit at current exchange rate exchange rate Trading margin 2.9% 3.3% 3.3% Investor Presentation • June 2018 9 Contribution to the 2017 consolidated trading profit, growing in France and in Latin America In €m FRANCE LATIN AMERICA E-COMMERCE 713 679 556 538 508 2016 2017 2016 2017 2017 (11) (27) at CER* 2016 2017 * CER, constant exchange rate Investor Presentation • June 2018 10 Underlying net profit, Group share, growing +9.0% and +6.1% at constant exchange rate In €m +9.0% +6.1% 362 372 341 2016 2017 2017 at constant exchange rate Investor Presentation • June 2018 11 Casino Group’s France Retail 23 growth drivers 12 Premium supermarkets : Monoprix, a unique experience A unique and profitable mix (2017 Sales) Strong commercial performance driven by innovation and expansion HOME/LEISURE FRESH 8% PRODUCTS Ongoing development of new 316 city centre stores 40% services (Delivery, Longer opening TEXTILE hours) 13% FOOD 2/3 of net sales with Differentiated and qualitative NON FOOD 69% private labels loyal customers 31% (Organic, Gourmet, …) +0.1pt market share Numerous partnerships with best-in-class players to become the gains over the last Kantar period HEALTH 29% & BEAUTY 11% GROCERY FMCG urban omni channel leader Fruits & vegetable, fresh meat and seafood counters Housewares and leisure Home delivery Investor Presentation • June 2018 13 E-commerce initiative in food retail Monoprix/Ocado – Next-day delivery Ocado Solutions is the world’s leading online grocery retailer, with home delivery Casino was the first retailer to partner with Ocado The partnership aims at commissioning, in early 2020, the most performing customer and logistic platform in the Casino market (OSP: “Ocado Smart Platform”) with: . A white label website and app . An automated Customer Fulfillment Centre (CFC) . Management of deliveries from the warehouse to the last mile Nov-17 Jan-18 May-18 . IT systems and management tools The agreement will provide a major step forward in terms of home delivery . 50,000 grocery product references proposed . Efficient home delivery (Next Day) at best level of quality, service and cost . Service to be initially rolled out to Monoprix customers in Paris, Greater Paris, Normandy and the Hauts-de-France region In May, the Group launched the construction of a 36,000 sqm DC in Fleury-Merogis (Paris suburb) to host the OSP Capacity for 6mins to prepare 500,000 storage units 74,000 references a 50-product order Investor Presentation • June 2018 14 E-commerce initiative in food retail Monoprix/Amazon – Same-day delivery Monoprix and Amazon have signed a partnership to offer Monoprix grocery items, in express delivery (1 hour to 2 hours) via the Amazon Prime Now platform Monoprix via This agreement concerns an initial offer of 5,000 to 6,000 references, delivered from Parisian stores Amazon Prime Now This partnership will enable Casino Group to recruit new customers via this new distribution channel, while offering same-day delivery. Express delivery Amazon, for its part, is developing with this agreement its grocery (1 to 2 hours) offer for Prime Now customers in France Amazon chose Monoprix for the following reasons: . Its strong and recognized brand among urban customers Typical purchase . Its differentiating and qualitative private label and its very diversified range of fresh assortment . Its expertise in next-day order preparation in-store, already deployed by Last minute purchases Monoprix Small shopping baskets . Its store network, facilitating delivery from the heart of the city to the end customer Added value with express delivery from Amazon will intervene upstream and downstream in-store order stores preparation: platform management, marketing and last-mile logistic. Monoprix will take care of the preparation in store Investor Presentation • June 2018 15 Premium supermarkets : Casino Supermarkets, a reshaped model Excellence in service counters, fruit & vegetables and organic ranges, with strong commercial performance (Fresh & organic products up +18% in 2017) A diversified private label offer A strong emphasis on loyalty At end 2017, the banner had 2.1 M loyal customer. In 2018, it will develop stores in France 400 the “Meilleurs clients” (Best clients) programme Ongoing launch of omni-channel initiatives : 60% of net sales with loyal customers . Shop & go, express delivery with Cdiscount express . Launch of the Casino Max app, aiming at giving the best online experience in our stores : loyalty, customized promotions, scan, and Positive payment facilities. comparable growth for 2 years Expansion of stores’ network into franchise Fresh products offer In-store services A complete line of private label Investor Presentation • June 2018 16 Convenience : A dynamic and profitable network of c.6,400 stores FRANPRIX NATURALIA CASINO PROXIMITES 901 urban stores 169 organic stores c. 5400 stores • Urban and innovative banner mainly located • Leading banner dedicated to • A diversity of banners well in the Parisian region organic and natural products adapted to each territory • Mandarine concept focusing on services and mainly located in the Parisian including rural and fresh products offering region seasonal areas • New responsible concept Noé « Organic but • 20% of new products in 2017 • 2 million clients per day not only » • Launch of a new concept • 760,000 downloads of the Franprix mobile • 10,000 food references 100% Vegan application (3 stores to date) • Strong contribution from • +51 stores in 2017 and +50 stores targeted in franchisees 2018 • Deployment of • 1 store opened abroad snacking solutions • New concept Le Petit Casino focusing on • 46% of franchisees • 470 selected suppliers • Comparable traffic of +3.1% in 2017 services and local offering Investor Presentation • June 2018 17 Cdiscount, a pure eCommerce player benefiting from a solid position in France 20m >3bn 30% 9m 10M > 40m market unique active active GMV (1) monthly products share visitors clients sellers A very solid average GMV growth (CAGR) of +16.8% Launch of the new between 2010 and 2017 volume centric strategic plan Revamped App €3,391m Launch of Cdiscount loyalty program “Cdiscount à volonté”