Casino Group: Casino Board of Directors decides on a final amendment to its offer to acquire Éxito’s 50% of Segisor

August 19^th, 2019

Casino Board of Directors decides on a final amendment to its offer to acquire Éxito’s 50% of Segisor

Following the announcement made on July 25^th regarding a project aiming at the simplification of Casino Group's structure in Latin America, Casino announces that today, its Board of Directors approved a final amendment to its offer to acquire Éxito's equity interest in GPA indirectly held through the French company Segisor.

The amended offer includes the following:

• An improved price per GPA share at 113 BRL;
• A partial purchase price matching clause (equal to 80% of the price difference) on the 49.8 million GPA shares that Casino would indirectly acquire from Éxito in case of disposal of all or part of such shares above 113 BRL per share within 15 months.

The amended offer is the result of the discussions with the management and the Chairman of the Board of Directors of Éxito, taking into account the preliminary analysis conducted by Éxito's Audit and Risk Committee and subject to the final evaluation of such committee, which Casino requested to be held no later than August 26^th, 2019.

The amended offer is valid until August 27^th, 2019.

The other terms and conditions of the simplification project remain unchanged.

The simplification project’s transactions remain subject to certain corporate approvals of competent governance bodies.

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