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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

POLAND

consolidation TURKEY

consolidation

C Services

30.0 Carrefour Sabanci Ticaret Merkezi AS Carrefour

SA

46.0

Percent interest

used in

ROMANIA

consolidation

Percent interest

used in

TUNISIA

consolidation

Ploiesti Shopping City

50.0

Ulysse

25.0

2015 REGISTRATION DOCUMENT

225