Exito announces successful COP 2,500 billion (USD 1.4 billion) capital increase

Regulatory News:

Almacenes Éxito S.A. ("Éxito”), a Groupe Casino (Paris:CO) subsidiary, announced today the share allocation of its COP 2,500 billion (USD 1.4 billion) capital increase at a price of COP 21,900 per share. The offer was oversubscribed 2.6x* (excluding Casino’s pro-rata subscription) reflecting strong local and international demand for the shares in a challenging market environment.

Éxito will use proceeds from this capital increase to accelerate its expansion plan and consolidate its leadership position in Colombia. In addition, the proceeds will also be used to fund the acquisition of Casino’s majority stakes in leading Uruguayan retailers Disco and Devoto, with Éxito becoming the group’s integrated platform for growth in Hispanic Latin America.

Casino has subscribed its pro-rata participation in the capital increase, maintaining its stake in Éxito at 54.8%.

*and 1.7x including Casino’s announced subscription

DISCLAIMER

The Exito common shares in this offering have not been registered under the securities laws of any other jurisdiction outside of Colombia. The offering will take place in the United States in accordance with Rule 144A of the U.S. Securities Act of 1933, as amended (the "Securities Act”), and to certain non-U.S. persons in offshore transactions in reliance of Regulation S of the Securities Act. The Exito common shares offered will not be registered under the Securities Act and cannot be offered or sold in the United States without registration or an applicable exemption to the registration requirements. The offering does not constitute a public offering of financial securities in France within the meaning of Article L. 411-1 of the French Code Monétaire et Financier and Title I of Book II of the Règlement Général of the Autorité des marchés financiers (the ‘‘AMF’’) and, therefore, no offering material has been or and will be filed with the AMF for prior approval. Consequently, the Exito common shares may not be, directly or indirectly, offered or sold to the public in France. The common shares being offered are registered in Colombia's National Securities and Issuers’ Registry (Registro Nacional de Valores y Emisores - RNVE) and in the Colombian Stock Exchange (Bolsa de Valores de Colombia- BVC). Almacenes Éxito S.A. is a supervised entity by the Colombian Financial Superintendency.