2012 RESULTS. Net profit from continuing operations, Group share, up +84.4% at

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1 2012 RESULTS Very strng Grup sales grwth, % Cntinued sustained rganic grwth internatinally, + 8.5% Sales almst stable in France, -0.8% * Trading Prfit % Net prfit frm cntinuing peratins, Grup share, up +84.4% at Net underlying prfit, Grup share, at 564m Net debt/ebitda rati fell t 1.91x Recmmended dividend f 3 1,065m Jean-Charles Nauri, Chairman and Chief Executive Officer f Casin Grup, stated: "The Grup underwent sme majr transfrmatins in 2012, ntably with the cntrl f GPA in Brazil and the agreement with Galeries Lafayette n the acquisitin f 50% f Mnprix, hence strengthening its prfile n internatinal businesses and buyant frmats. Fr the first time, it has generated perating incme in excess f 2 billin. In 2013, cnfident in the grwth f its activity and results, Casin will pursue its strategy f back-t-basics in France and rganic grwth internatinally, while wrking t maintain its financial structure." The 2012 cnslidated financial statements were apprved by the Bard f Directrs n 20 February The Statutry Auditrs have cmpleted their audit and are in the prcess f issuing their reprt. KEY FIGURES Cntinuing peratins ( m) Change SALES 34,361 41, % EBITDA 2,287 2, % EBITDA margin 6.7% 6.8% +14bp Trading prfit 1,548 2, % Trading margin 4.5% 4.8% +26bp Net prfit, Grup share 577 1, % Net underlying prfit, Grup share Net financial debt 5,379 5,451 Net financial debt/ebitda 2.35x 1.91x * Organic grwth excluding petrl and calendar effect 1

2 The Grup recrded sund rganic grwth in 2012, up 4% excluding petrl and calendar effect, driven by a cntinuusly buyant envirnment abrad and in a backdrp f sft cnsumptin in France. Trading prfit grew by 29.3%, driven by the GPA cntrl and rganic grwth internatinally. Thanks t the full cnslidatin f GPA starting in H2, internatinal peratins increased their cntributin t Grup s sales and trading prfit t 56% and 66% respectively (versus 45% and 52% in 2011). IN FRANCE, RESILIENCE OF ORGANIC SALES AND OF MARGIN In France, sales were resilient in a cntext f sft cnsumptin. Buyant cnvenience and discunt frmats perfrmance, which represent 64% f Grup sales in France (excluding petrl effect), was satisfactry, while Géant's sales were impacted by reductins in nn-fd retail space and price cuts initiated at the end f Q3. Cdiscunt had anther year f very rbust grwth, up 16.3%. Full-year rganic grwth, excluding petrl and calendar effect, declined by 0.8%. Trading prfit declined by 8.6%, with the trading margin remaining resilient thanks t the frmat mix, cming ut t 3.7%, a 28bp drp. In 2012, Géant Casin's sales fell by 7.7% n an rganic basis, excluding petrl and calendar effect. In fd, Géant realigned its price indices fr entry-price and private-label prducts at the end f Q3. Nnfd business was dwn due t the sharp reductin in nn-fd shelf displays in The multi-channel apprach was rlled ut t stres. Ttal same-stre nn-fd sales (Géant + Cdiscunt) slightly increased ver the year t 2.3bn (up 0.6%). Casin Supermarchés' sales grwth (up 1.8% n an rganic basis excluding petrl and calendar effect) was satisfactry. Price indices were repsitined in entry-price and private-label prducts. Rll-ut f "Le Meilleur d'ici" (lcal prducts) cntinued. Superettes sales were almst stable vs (dwn 0.6% n an rganic basis excluding petrl and calendar effect). A cmmn assrtment arund Casin private-label prducts was implemented. The number f Cdiscunt pick-up pints increased sharply ver the year. Expansin cntinued with the pening f 422 stres, including 144 "Cp d'alsace" stres that jined the netwrk. Other businesses (Cdiscunt, Mercialys and Casin Restauratin) maintained buyant sales grwth (up 10.6% n an rganic basis), driven by Cdiscunt's very strng mmentum (up 16.3%). Cdiscunt's ttal business vlume increased by 22% ver the year, including the marketplace (10% f the site's business vlume at the end f December). The multi-channel strategy cntinued t be rlled ut, with 3,000 physical pick-up pints deplyed. Finally, sales thrugh mbile apps accunted fr 8% f sales at the end f the year. Casin France's perating margin was 3.3%, dwn 41bp. 2

3 Leader Price's sales declined by 0.8% n an rganic basis (excluding calendar effect). The banner cnfirmed its turnarund in 2012 with repsitined price indices. The new Leader Price prducts, with which Jean-Pierre Cffe (famus French gurmet icn) was heavily invlved, were a success. Finally, stre renvatins cntinued. 18 stres were pened in Thanks t stres netwrk ptimisatin and csts reductin, the banner's prfitability increased ver Franprix's perfrmance stabilised in 2012 (sales fell by 1% n an rganic basis, excluding calendar effect). Private-label prducts were relaunched in stres, with mre Leader Price prducts under 1. Targeted price cuts als cntributed t the banner's slid perfrmance. The stres netwrk cntinued t be upgraded and 39 stres pened in Franprix-Leader Price's perating margin was 3.8%, up 8bp cmpared t Mnprix's sales were well riented, grwing by 1.7% n an rganic basis excluding petrl and calendar effect, thanks t strng perfrmance by fd sales, grwth in textile that was superir t the market ver the full year, and cntinuing expansin n all frmats. Mnprix's perating margin was still high at 6.1% thanks t the quality f mix (fd, perfume, textile, hme equipment). STRONG INTERNATIONAL ORGANIC GROWTH Internatinal businesses experienced very strng grwth (50.7%) this year, driven by the full cnslidatin f GPA starting in H2, as well as by highly satisfactry rganic grwth f 8.5%. Trading prfit increased by 64.9% Latin American sales rse by 8.8% n an rganic basis. In Brazil, GPA maintained its excellent perfrmance in 2012, with high rganic grwth in fd sales, driven by the perfrmance f Assaí and the new Minimercad cnvenience cncept, whse expansin cntinued at a sustained pace. In nn-fd, Viavarej's same-stre sales grwth was sustained (7.5% * ) and its perating margin imprved. GPA's EBITDA std at 7.2%. In Clmbia and in Uruguay, Exit Grup had an excellent 2012 year, with sales up sharply by 18.3%, with a marked strengthening f Exit s market share in Clmbia. Rapid expansin was fcused n discunt and cnvenience frmats. The EBITDA margin rse by 8.4% *, sustained by reduced perating csts. Finally, Exit's best practices were gradually rlled ut t Uruguay, whse perfrmance was excellent in * Based n reprted cmpany data 3

4 Asia psted strng grwth (+10.8%) in sales n an rganic basis, thanks t excellent perfrmance in bth Thailand and Vietnam, where Big C cntinues t establish a leading psitin. The perating margin, still very high, std at 7.1%. In Thailand, Big C's sales climbed by 16.1%, demnstrating excellent perfrmance. Sales grwth n an rganic basis rse sharply (9.3% * ) despite the aftermath f the flds, driven ntably by the success f innvative sales initiatives and the develpment f the lyalty card, as well as by sustained expansin, particularly in small frmats and shpping centres. The EBITDA margin was very high at 11.1% *. Finally, the financial structure was strengthened by debt refinancing and the success f private placement. In Vietnam, rganic grwth was very high, despite the backdrp f ecnmic slwdwn. The dual expansin mdel was maintained in 2012, with three hypermarkets and three adjacent shpping malls pened. SOLID FINANCIAL STRUCTURE In 2012, Casin engaged n a 1.5bn asset dispsal and capital increase plan, f which 1.45bn was achieved in 2012: Mercialys peratin: exceptinal distributin and TRS settlement: 0.7bn Successful payment f dividends in shares: 0.1bn Capital increase and shares dispsal: 0.4bn Dispsal f financial and real-estate assets: 0.2bn A secnd exceptinal interim dividend is planned by Mercialys in H These dispsals d nt include the 0.5bn Mercialys assets dispsals r assets under firm ffer. Net financial debt ttalled billin. The Net Financial Debt/EBITDA rati therefre std at 1.91x at the end f 2012, in accrdance with ur target f less than 2.2x. The Casin Grup is rated BBB- Outlk Stable by S&P and Fitch Ratings. At the Annual General Meeting n 22 April 2013, Casin will recmmend a dividend f 3 per share. The dividend will be paid n 29 April 2013, with an ex-dividend date n 24 April * Based n reprted cmpany data 4

5 CASINO IS CONFIDENT IN ITS ABILITY TO INCREASE ITS ACTIVITY AND RESULTS IN 2013 Internatinally: grwth Grwth shuld cntinue in 2013, sustained by the emergence f numerus middle classes whse purchasing pwer is grwing The Grup banners, which benefit frm a very gd price image and are very active in their expansin plicy n buyant frmats and cmmercial real estate, shuld then see a cntinued increase in activity and results France: stabilising r reviving retail Price cuts, ntably in hypermarkets Csts reductin Expansin in key frmats Fr 2013 therefre, the Grup is targeting: Strng grwth in reprted sales Organic sales and trading prfit grwth Slid financial structure with a Net Financial Debt / EBITDA belw 2x. ANALYST AND INVESTOR CONTACTS Régine GAGGIOLI Tel: +33 (0) rgaggili@grupe-casin.fr r +33 (0) IR_Casin@grupe-casin.fr GROUP EXTERNAL COMMUNICATION DEPARTMENT PRESS CONTACTS Aziza BOUSTER Tel: +33 (0) Mb: +33 (0) abuster@grupe-casin.fr IMAGE 7 Grégire LUCAS Tel: +33 (0) glucas@image7.fr 5

6 2012 RESULTS Cntinuing peratins ( m) Change Organic grwth SALES 34,361 41, % +3.5% f which France 18,748 18, % -0.8% f which Internatinal 15,613 23, % +8.5% EBITDA (2) 2,287 2, % +2.8% f which France 1,164 1, % f which Internatinal 1,123 1, % Trading prfit 1,548 2, % +3% f which France % f which Internatinal 798 1, % Other perating incme and expense (157) 377 Operating prfit 1,391 2, % Finance csts, net (472) (519) -9.9% Other financial incme and expense % Incme tax expense (228) (323) -41.7% Share f prfits f assciates (7) (21) Net prfit frm cntinuing peratins, Grup share Net prfit frm discntinued peratins, Grup share 577 1, % (9) (2) Net prfit, Grup share 568 1, % NET UNDERLYING PROFIT, GROUP SHARE (3) (1) Based n a cmparable scpe f cnslidatin and cnstant exchange rates, excluding the impact f asset dispsals (2) EBITDA: Earnings befre interest, taxes, depreciatin and amrtisatin (3) See details in appendix 6

7 Financial calendar Thursday, 18 April 2013 Mnday, 22 April 2013 (after the clse f trading): 2013 first quarter sales Annual General Meeting Disclaimer This press release was prepared slely fr infrmatinal purpses and shuld nt be cnstrued as a slicitatin r an ffer t buy r sell any securities r related financial instruments. Similarly, it des nt and shuld nt be treated as giving investment advice. It has n cnnectin with the specific investment bjectives, financial situatin r needs f any receiver. N representatin r warranty, express r implied, is prvided in relatin t the accuracy, cmpleteness r reliability f the infrmatin cntained in this dcument. It shuld nt be regarded by recipients as a substitute fr the exercise f their wn judgement. Any pinins expressed herein are subject t change withut ntice. APPENDICES SIMPLIFIED 2012 BALANCE SHEET in m Nn-current assets 18,770 26,823 Current assets 11,002 15,990 TOTAL ASSETS 29,772 42,813 Equity 9,383 15,201 Nn-current financial liabilities 6,423 9,394 Other nn-current liabilities 1,495 3,028 Current liabilities 12,472 15,190 TOTAL EQUITY AND LIABILITIES 29,772 42,813 7

8 NET UNDERLYING PROFIT Net underlying prfit crrespnds t net prfit frm cntinuing peratins adjusted fr the impact f ther perating incme and expense (as defined in the Significant Accunting Plicies sectin f the ntes t the annual cnslidated financial statements), nn-recurring financial items and nn-recurring incme tax expense/benefits. Nn-recurring financial items include fair value adjustments t certain financial instruments at fair value whse market value may be highly vlatile. Fr example, fair value adjustments t financial instruments that d nt qualify fr hedge accunting and embedded derivatives indexed t the Casin share price are excluded frm net underlying prfit. Nn-recurring incme tax expense/benefits crrespnd t tax effects related directly t the abve adjustments and t direct nn-recurring tax effects. In ther wrds, the tax n underlying prfit befre tax is calculated at the standard average tax rate paid by the Grup Underlying prfit is a measure f the Grup s recurring prfitability. in millins 2011 Adjustments 2011 underlying 2012 Adjustments 2012 underlying TRADING PROFIT 1,548 1,548 2,002 2,002 Other perating incme and expense (157) (377) 0 OPERATING PROFIT 1, ,548 2,379 (377) 2,002 Finance csts, net (472) 0 (472) (519) 0 (519) Other financial incme and expense (1) 68 (57) (24) (4) Incme tax expense (2) (228) (105) (333) (323) (155) (478) Share f prfit f assciates (7) 0 (7) (21) 0 (21) PROFIT FROM CONTINUING OPERATIONS 751 (5) 747 1,535 (556) 979 Attributable t minrity interests (3) (55) 415 GROUP SHARE 577 (12) 565 1,065 (501) 564 (1) Other financial incme and expense is stated befre discunting deferred tax liabilities in Brazil (- 22m in 2011 and - 22m in 2012), exchange lsses n receivables n the state f Venezuela in USD (- 25m in 2011 and - 2m in 2012), fair value adjustments frm financial instruments that d nt qualify fr hedge accunting (+ 87m in 2011 and n/a in 2012), and fair value adjustments frm Ttal Return Swaps related t shares in Exit, GPA, Big C and Mercialys (+ 17m in 2011 fr Exit alne and + 48m in 2012) (2) Incme tax expense is stated befre the tax effect f the abve adjustments and nn-recurring incme tax expense/benefits (3) Minrity interests are stated befre the abve adjustments. 8