Carrefour

Prospectus • May 24, 2017

Carrefour announces that Atacadão S.A., the parent company of all the activities of Carrefour in Brazil (Grupo Carrefour Brasil), filed yesterday with the Brazilian Securities Commission (CVM) a draft preliminary prospectus in the context of the previously-announced project to list its shares on the Novo Mercado. The draft prospectus notably contains historical financial information related to Grupo Carrefour Brasil. A summary of the main information is set forth below.

BRL million1	2014	2015	2016	Q1 2016	Q1 2017
Net sales	34,812	39,217	44,957	10,472	11,227
Adjusted EBITDA2	2,358	2,867	3,381	683	729
EBIT	1,781	2,281	2,655	511	545
Net income	737	985	1,363	182	199
Net income Group share	528	766	1,174	136	161

Such historical information and other data about our Brazilian operations will be available in Portuguese on the website of the CVM.

This press release does not constitute an offer of securities for sale in Brazil. Atacadão S.A. has filed with the Brazilian Securities Commission (CVM) a request for registration of an initial public offering of shares. Any such public offering of shares shall take place, should market conditions permit to do so, by means of the offering documents to be released in compliance with the Brazilian securities regulation, including Portuguese language Prospectuses. Investors must carefully read the Prospectuses, especially the "Risk Factors" section of Atacadão's Prospectuses and Reference Form, prior to making any investment in Atacadão's shares, if and when any offering takes place.

This press release is not intended for publication or distribution, directly or indirectly, in or into the United States. This press release does not constitute an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. Securities of Atacadão have not been, and will not be, registered under the US Securities Act.

Investor relations: Mathilde Rodié, Anne-Sophie Lanaute, Louis Igonet Tel : +33 (0)1 41 04 28 83 Shareholder relations Tel : +33 (0)805 902 902 (n° vert en France)

Group press relations: France: +33 (0)1 41 04 26 17 Brazil: +55 (11) 3076 7620

¹ Group reference exchange rates EUR/BRL: 3.12 for 2014, 3.67 for 2015, 3.82 for 2016, 4.29 for Q1 2016 and 3.35 for Q1 2017

² Adjusted for logistics depreciation and amortization, holding costs and non-recurring items