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126 2014 Registration Document

Comments on 2014 fiscal year

4

Q1 Gross Sales for 2015

Store network under banners – First quarter 2015

In Q1 2015, Carrefour opened or acquired 1,086 stores. Net of disposals and closures, the network added 987 stores in the quarter, bringing the

total network to 11,847 stores at the end of March.

No. of stores

Dec 31, 2014

Openings

Acquisitions

Closures/

Disposals

Transfers

Total Q1

2015 change

March 31,

2015

Hypermarkets

1,459

4

5

(3)

(13)

(7)

1,452

France

237

5

5

242

Europe (ex France)

489

(1)

(12)

(13)

476

Latin America

291

1

(1)

0

291

Asia

375

2

(2)

0

375

Others

67

1

1

68

Supermarkets

3,115

22

1

(15)

16

24

3,139

France

960

1

(1)

0

960

Europe (ex France)

1819

17

(14)

15

18

1 837

Latin America

169

1

1

170

Asia

19

1

1

20

Others

(1)

148

4

4

152

Convenience

6,111

241

813

(83)

(3)

968

7,079

France

3,673

25

813

(34)

804

4,477

Europe (ex France)

2,035

211

(49)

(3)

159

2,194

Latin America

370

3

3

373

Others

(1)

33

2

2

35

Cash & carry

175

0

175

France

143

0

143

Europe (ex France)

19

0

19

Others

(1)

13

0

13

Group

10,860

267

819

(101)

985

11,845

France

5,013

25

819

(35)

809

5,822

Europe (ex France)

4,362

228

(64)

164

4,526

Latin America

830

4

4

834

Asia

394

3

(2)

1

395

Others

(1)

261

7

7

268

(1) Maghreb, Middle East and Dominican Republic.

Definitions

LFL sales growth:

sales generated by stores opened for at least twelve

months, excluding temporary store closures, at constant exchange rates.

Organic growth:

LFL sales plus net openings over the past twelve

months, including temporary store closures, at constant exchange rates.

Sales under banners:

total sales under banners including sales by

franchisees and international partnerships.