Carrefour

M&A Activity • Apr 25, 2025

Carrefour announces the success of the acquisition of the outstanding shares in Carrefour Brazil

Carrefour announces today that minority shareholders of Grupo Carrefour Brasil ("Carrefour Brazil") approved the proposed acquisition of all outstanding shares not yet held by Carrefour Group.

Carrefour welcomes this decision which marks a key milestone in Carrefour's strategy in Brazil, enabling full ownership and a delisting of Carrefour Brazil shares from the São Paulo Stock Exchange (B3). The Group will now move ahead with the next steps to finalize the transaction, expected to close by mid-June 2025. Minority shareholders can opt for their preferred form of consideration until May 12th:

• 8.50 Brazilian reais (R\$) in cash per Carrefour Brazil share; or
• 1 Carrefour share¹ for every 9.96 Carrefour Brazil shares; or
• A combination of the two options: R\$4.25 in cash per Carrefour Brazil share plus 1 Carrefour share for every 19.92 Carrefour Brazil shares.

Alexandre Bompard, Chairman and CEO, Carrefour Group, stated: "We welcome the favorable outcome of today's vote. Carrefour Brazil's shareholders recognized the fairness of the offer. It represents a significant step forward in the Group's growth strategy in Brazil and a successful first step in the strategic review initiated by Carrefour last February. Full ownership will allow us to manage operations with greater agility, reinforcing our ability to drive sustainable and profitable growth in one of our most dynamic markets."

About the Carrefour Group

With a multi-format network of over 15,000 stores in more than 40 countries, the Carrefour Group is one of the world's leading food retailers. In 2024, Carrefour generated €94.6 billion in revenue. Its network of integrated stores employs over 300,000 people, who contribute to making Carrefour the global leader in the food transition for all, providing high-quality, accessible, and affordable food every day. In total, more than 500,000 people work under the Carrefour banner worldwide. For more information, visit www.carrefour.com, or find us on X (@news\_carrefour) and LinkedIn (Carrefour).

Contacts

Investor Relations Sébastien Valentin, Andrei Dragolici, Mathilde Novick Tel: +33 (0)1 64 50 79 81

Shareholder relations Tel: 0 805 902 902 (toll-free in France) Group Communications Tel: +33 (0)1 58 47 88 80

¹ Minority shareholders electing to receive Carrefour group shares could choose to receive these in the form of Brazilian Depositary Receipts ("BDRs"), listed in São Paulo.