1Q13 RESULTS. Grupo Pão de Açúcar and Viavarejo. April 30, 2013

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Donna Hodges
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1 Grupo Pão de Açúcar and Viavarejo April 30, 2013

GPA CONSOLIDATED RESULTS 1Q13 Gross Sales R$ million, 1Q13 x 1Q12 Same-store-sales growth vs 1Q12 14,984 +9.7% SSS +6.

2 GPA CONSOLIDATED RESULTS 1Q13 Gross Sales R$ million, 1Q13 x 1Q12 Same-store-sales growth vs 1Q12 14, % SSS +6.6% EBITDA R$ million, 1Q13 x 1Q12 EBITDA margin % 6.4% Net Income Company R$ million, 1Q13 x 1Q12 Net margin % 2.1% 2

3 GPA CONSOLIDATED INDEBTEDNESS AND LEVERAGE 03/31/12 03/31/13 Net debt (1) (R$ billion) Net debt /EBITDA (2) 1.51x 1.10x Capex (R$ million) 1Q Q Consolidated Net Financial Expenses (R$ million) 2.8% 1.9% Q Q13 % of net sales Viavarejo GPA Food (1) Net Debt with payment book (2) EBITDA of the last twelve months 3

1Q13 BUSINESSES RESULTS GPA Food GPA Non Food Gross Sales Gross Profit Operating Expenses EBITDA Net Financial Expenses Consolidated Net Income R$ million, 1Q13 x 1Q12 8,149 +10.6% 6,836 +8.

4 1Q13 BUSINESSES RESULTS GPA Food GPA Non Food Gross Sales Gross Profit Operating Expenses EBITDA Net Financial Expenses Consolidated Net Income R$ million, 1Q13 x 1Q12 8, % 6, % SSS growth vs 1Q12 SSS +6.4% SSS +6.8% Gross margin, 1Q13 x 1Q % +8.9% 27.8% +9.0% margin 1Q13 x 1Q12-50 bps -10 bps % of net sales, 1Q13 x 1Q % +9.9% 22.1% +6.3% % of net sales 1Q13 x 1Q12-20 bps -70 bps R$ million, 1Q13 x 1Q % % EBITDA margin 7.0% 5.7% % of net sales, 1Q13 x 1Q12 1.5% -24.0% 2.4% -24.4% % of net sales 1Q13 x 1Q12-60 bps -110 bps R$ million, 1Q13 x 1Q % % Net margin 2.4% 1.7% 4

1Q13 STORE OPENING GPA Food Extra Supermercado João Pessoa - PB 19 stores

Non-Food 6 Casas Bahia stores were opened, specially in the Northeast

On March, 31 st : 968 stores and sales area of 1,408 thousand sqm, 6.

5 1Q13 STORE OPENING GPA Food Extra Supermercado João Pessoa - PB 19 stores were opened: 12 Minimercado Extra, 3 Assaí, 2 Extra Supermercado, 1 gas station and 1 drugstore. On March, 31 st : 934 stores and sales area of 1,589 thousand sqm, 5.6% increase over the past 12 months. Minimercado Extra São Bernardo do Campo - SP Assaí São Paulo - SP GPA Non-Food 6 Casas Bahia stores were opened, specially in the Northeast region. On March, 31 st : 968 stores and sales area of 1,408 thousand sqm, 6.2% increase over the past 12 months. Launch of the market place in Extra.com.br, adding 30 new stores at the opening, doubling the website s assortment. Assaí Maceió - AL Casas Bahia Rio Branco - RN Launch of Brazil s first online Shopping Mall 5

2013 PERSPECTIVES Varejo Organic expansion focusing on Minimercado s format; Strengthening the Group s private labels; Processes and management model

territory; Strong sales growth is the result of both dynamic LFL growth and expansion plan; Increase share in GPA Food sales; Improve the Group s ROCE.

6 2013 PERSPECTIVES Varejo Organic expansion focusing on Minimercado s format; Strengthening the Group s private labels; Processes and management model reorganization to pursue simplification/back to basics; Reinforce competitiveness due to improved efficiency and productivity; EBITDA margin maintenance compared to Atacado de autosserviço Focus on organic expansion, 12 to 15 stores opening and entrance in 7 new States, reinforcing the banner s presence in the Brazilian territory; Strong sales growth is the result of both dynamic LFL growth and expansion plan; Increase share in GPA Food sales; Improve the Group s ROCE. Negócios Imobiliários Development and revitalization of commercial centers and galleries, aiming to increase recurring revenues from rent and contribute to customers traffic growth in stores with galleries area. GLA (gross leased area) expansion up to sqm by end 2013 and acceleration of this level in the coming years;

7 2013 PERSPECTIVES Eletro Management model reorganization and implementation of Turnaround Program: synergies capture and expense rationalization in IT, logistics, back-office and marketing areas, to boost business profitability; Strengthening of Casas Bahia banner, with faster stores opening pace in the Northeast region; Review of Pontofrio brand positioning; Brazilian anti-trust authorities (CADE): approval of the association agreement terminates the obligations assumed by us under the provisional agreement (APRO). E-commerce Growth above the market with operational profitability; Strengthening each banner positioning strategy; Market place as a tool to substantial assortment increase (best value proposition to customers) and lever to increase profitability; Efforts to increase efficiency/productivity especially in logistics: synergies with brics&mortar stores, centralized distribution centers and regionalization; Structured plan for multi-channel initiatives.

8 GUIDANCES 2013 GPA Food GPA Non-Food Financials Gross sales in R$ billion Above 34.5 Above 28.5 Above 63.0 EBITDA 2013 margin Around 7.7% Above 6.6% Around 7.2% Net fin. expenses as % of net sales Below 1.8% Below 2.9% Below 2.3% Operational Capex in R$ billion Expansion (sqm) growth vs Dec/12 6.0% 2.0% to 3.0% (1) Above Above 4.0% (1) Does not consider the settlement agreement signed with Brazil s anti-trust authorities (CADE). 8

9 INVESTOR RELATIONS CONTACTS Grupo Pão de Açúcar (GPA) Viavarejo Investor Relations Team Phone: +55 (11) Fax: +55 (11) > Foward-looking statements > The forward-looking statements contained herein are based on our management s current assumptions and estimates, which may result in material differences regarding future results, performance and events. Actual results, performance and events may differ substantially from those expressed or implied in these forward-looking statements due to a variety of factors, such as general economic conditions in Brazil and other countries, interest and exchange rate levels, legal and regulatory changes and general competitive factors (whether global, regional, or national). 9

4Q12/2012 RESULTS. Grupo Pão de Açúcar and Viavarejo. February 20, 2013

4Q12/2012 RESULTS. Grupo Pão de Açúcar and Viavarejo. February 20, 2013 4Q12/2012 RESULTS Grupo Pão de Açúcar and Viavarejo February 20, 2013 GPA CONSOLIDATED RESULTS 4Q12 Including Projects Excluding Projects Gross Sales R$ million, 4Q12 x 4Q11 Same-store-sales growth vs