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Consolidated Financial Statements as of December 31, 2015

Notes to the Consolidated Financial Statements

Percent interest

Percent interest

used in

used in

HONG KONG

consolidation NETHERLANDS

consolidation

Carrefour Asia Ltd

100.0 Carrefour China Holdings BV

100.0

Carrefour Global Sourcing Asia

100.0 Carrefour International Services BV (HYPER

GERMANY HOLDING BV)

100.0

Carrefour Trading Asia Ltd (CTA)

100.0

Carrefour Nederland BV

100.0

Carrefour Property BV

100.0

Percent interest

used in

INDIA

consolidation

Ficadam BV

100.0

Fouret BV

100.0

Hyper Germany BV

100.0

Carrefour India Master Franchise Ltd

100.0

Hyper Invest BV

100.0

Carrefour WC & C India Private Ltd

100.0 Intercrossroads BV

100.0

Soca BV

100.0

Percent interest

used in

IRLAND

consolidation

Percent interest

used in

POLAND

consolidation

Carrefour Insurance Limited

100.0

Carrefour Polska

100.0

Carrefour Polska Waw

100.0

Percent interest

used in

ITALIA

consolidation

Cpa Waw 1 Ska

100.0

Ibes

100.0

Carrefour Banca

60.0 Galerie Alkoholi

100.0

Carrefour Italia Finance SRL

100.0 Wigry

100.0

Carrefour Italia SPA

100.0

Carrefour Property Italia SRL

99.8

Percent interest

used in

ROMANIA

consolidation

Consorzio Proprietari Centro Commerciale

Brianza

52.8

Consorzio Proprietari Centro Commerciale

Burolo

89.0 Artima SA

100.0

Consorzio Proprietari Centro Commerciale

Giussano

76.8

Carrefour Merchandising

100.0

Carrefour Roumanie

100.0

Consorzio Proprietari Centro Commerciale

Massa

54.1 Militari Galerie Comerciala

100.0

Supeco Investment SRL

100.0

Consorzio Proprietari Centro Commerciale

Thiene

57.8

Consorzio Proprietari Centro Commerciale

Torino Montecucco

87.2

Percent interest

used in

SWITZERLAND

consolidation

Consorzio Proprietari Centro Commerciale

Vercelli

84.2

Carrefour World Trade

100.0

Diperdi SRL

99.8

Hyperdema (PHS)

100.0

Galleria Commerciale Paderno SRL

99.8

Promohypermarkt AG (PHS)

100.0

Galleria Commerciale Property Futura SRL

99.8

GS SPA

99.8

SCARL Shopville Gran Reno

57.7

Percent interest

used in

TAIWAN

consolidation

Societa Sviluppo Commerciale SRL

99.8

Carrefour Insurance Broker Co

60.0

Percent interest

used in

LUXEMBOURG

consolidation

Carrefour Stores Taiwan Co

60.0

Carrefour Telecommunication Co

30.6

Charng Yang Development Co

30.0

Velasques SA

100.0

Presicarre

60.0

222

2015 REGISTRATION DOCUMENT