1

Q3 RESULTS November 08, 2018

2

INTRODUCTION

Noël Prioux

Grupo Carrefour Brasil CEO

3

Q3 2018: ACCELERATING PERFORMANCE, WITH SOLID SALES AND SHARPLY IMPROVED PROFITABILITY IN ALL BUSINESSES

(1) Adjusted for other income and expenses such as restructuring costs, asset write offs, capital gains and losses as well as income and expenses related to past events and contingencies. In order to make both years comparable, Q3 2017 Gross Profit and EBITDA have been adjusted downwards for 6 months of ICMS-ST tax credits booked in Q3 and related to H1 2017. For Carrefour the adjustment of such tax credits was a decrease of R$ 22 million in gross profit and EBITDA, respectively, while for Atacadão the reduction was of R$ 75 million in the same lines. These credits relate to the STF decision regarding presumed margin at the end of 2016 and recognized for the first time in September 2017, retroactively to January 1rst. Cumulative 9 months numbers are fully comparable. As a reminder, the Adj. Net income is the Net Income adjusted for other operating income and expenses and their respective income tax impacts. For a detailed calculation of the impact, please refer to Net income analysis on slide 21. (2) Net Debt calculation includes R$1.5 billion of discounted receivables

GROSS SALES INC. PETROL

ADJ. NET INCOME(1) GROUP SHARE

ADJUSTED

EBITDA(1)

NET DEBT AND

LEVERAGE(2)

R$14.0bn

+8.1%

R$40.5bn

+6.6%

R$991mn

+32.6%

7.8% EBITDA margin

+144bps

R$2,768mn

+15.5%

7.5% EBITDA margin

+60bps

R$391mn

+67.6%

3.1% Net Margin

R$2.3bn

R$1,124mn

+40.0%

3.0% Net Margin

Q3

20

18

9

M 2

01

8

0.59x Net Debt/LTM

Adj.EBITDA

0.18x Net Debt/Equity

4

OMNICHANNEL AND SERVICES

To allow customer to buy where and

when they want

EDUCATION & TRUST

To win the trust of the client guaranteeing quality and providing day-to-day tips

AFFORDABLE PRICES

Healthy products at a low prices

QUALITY PRODUCTS Good for the planet

Healthy food Tasty food

A new positioning:

Everyone deserves the best with 4 pillars to support our food transition ambition

Launch date October 1st, 2018

5

Sabor and Qualidade was relaunched in Q2 and products are now available in all of the

Carrefour hypermarkets as part of our “Filiéres Qualité” strategy

Penetration in fresh products already reached 6% of sales by Sept.18

Target of 10% by 2022

Dedicated in-store organic areas developed in a few hypermarkets. Target to complete roll-

out to all stores by June 2019

Average 75% sales increase of organic products in stores where dedicated areas have been

implemented

~1,500 SKUs of healthy products developed in partnership with suppliers

A SERIES OF CONCRETE ACTIONS IN 2018 TO PROMOMTE THE FOOD TRANSITION

> 1.8000 SKUs

Share of 8% in food sales in Sept.18 and target of 15% by 2022

Imported items to leverage from Carrefour brand

6

E-MÍDIA: A FOODTECH ACQUISITION

ABOUT CYBER COOK:

One of the most relevant online culinary and gastronomy communities in Brazil

Integration between Cyber Cook content and Carrefou’s food e-commerce

Portal with 4 million visitors/month

>100,000 recipes

OBJECTIVES:

To develop services focused on healthy food habits and well-being with innovative investments to offer omnichannel solutions, aiming to simplify the overall customer experience

Develop tools to help consumers plan and shop for meals and products mentioned in Cyber Cook

recipes using our e-commerce.

Greater efficiency in data management and practical use of artificial intelligence tools

7

Sébastien Durchon

Grupo Carrefour Brasil CFO

Consolidated Financial Performance

8

+5.1% +5.1% -0.9%

LfL

ex-petrol

Petrol LfL

inc. petrol

Calendar Expansion Total gross

sales inc. petrol

Q3 SALES: STRONG 8.1% GROWTH, IMPROVING PERFORMANCE IN ALL FORMATS AND GROWING CONTRIBUTION FROM EXPANSION

IPCA FOOD AT HOME (IBGE)

+8.1% +4.0%

+3.0% +0.1% +3.1% -0.3%

LfL

ex-petrol

Petrol LfL

inc. petrol

Calendar Expansion Total gross

sales inc. petrol

+6.6% +3.8%

Q3 2018

9M 2018

Q3 Sales growth results from a combination of:

• accelerating LfL in all formats

• strong expansion at Atacadão

• rapid e-commerce growth

E-commerce GMV grew by 106% and accounted for 7.0% of sales, including petrol, in Q3 vs 3.0% in Q3 2017

SWING TO FOOD INFLATION IN Q3 6.5%

4.3%

3.0%2.5%

1.1%

-0.6%

-3.1%

-5.2% -5.3% -5.1% -5.3%-4.9%

-3.9% -3.8%-4.3%

-4.7%

-3.8%

0.1% 0.3%

1.5%

2.2%

3.3%

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2017 2018

4.6%

1.0%

-4.5% -5.1%-4.0% -2.8%

1.3%

9

Q3 AND 9M: 67.6% and 40.0% GROWTH IN NET INCOME ON SOLID OPERATING PERFORMANCE AND LOWER FINANCIAL EXPENSES

Gross margin expansion driven by Atacadão and Banco CSF gross profit increase;

Continued expense reduction efforts across businesses, in particular at Carrefour Retail;

Strong improvement in EBITDA margin from higher gross margin and enhanced operating leverage;

Drop in net financial results from lower interest rates and debt level.

(*) In order to make both years comparable, Q3 2017 Gross Profit and EBITDA have been adjusted downwards for 6 months of ICMS-ST tax credits booked in Q3 and related to H1 2017. For Carrefour the adjustment of such tax credits was a decrease of R$ 22 million in gross profit and EBITDA, respectively, while for Atacadão the reduction was of R$ 75 million in the same lines. These credits relate to the STF decision regarding presumed margin at the end of 2016 and recognized for the first time in September 2017, retroactively to January 1rst. Cumulative 9 months numbers are fully comparable. (**) As a reminder, the Adj. Net income is the Net Income adjusted for other operating income and expenses and their respective income tax impacts. For a detailed calculation of the impact, please refer to Net income analysis on slide 21.

(in R$ million)

QUARTER 9 MONTHS

Q3 18 Q3 17 ∆% 9M 18 9M 17 ∆%

Net Sales 12,738 11,786 8.1% 36,901 34,715 6.3%

Gross Profit(*) 2,772 2,456 12.9% 7,991 7,410 7.8%

Gross Margin(*) 21.8% 20.8% +93bps 21.7% 21.3% +36bps

SG&A Expenses (1,788) (1,715) 4.3% (5,243) (5,030) 4.2%

SG&A of Net Sales 14.0% 14.6% -51bps 14.2% 14.5% -28bps

Adjusted EBITDA(*) 991 747 32.6% 2,768 2,397 15.5%

Adj. EBITDA Margin(*) 7.8% 6.3% +144bps 7.5% 6.9% +60bps

Net Financial Result(**) (120) (168) -28.7% (258) (595) -56.6%

Net Income, Group Share(**) 391 233 67.6% 1,124 803 40.0%

Net Margin 3.1% 2.0% +109bps 3.0% 2.3% +73bps

10

Roberto Müssnich – Atacadão CEO

José Luis Gutierrez – Carrefour Retail CEO

Paula Cardoso – Carrefour Soluções Financeiras

CEO and Executive Director of Clients, Services and

Digital Transformation

Business Units Presentation

11

ATACADÃO: DOUBLE-DIGIT GROWTH IN SALES AND PROFITABILITY, RAPID EXPANSION

SALES PERFORMANCE

533 646

6.9%

7.5%

Q3 2017 Q3 2018

(R$M and % of Net Sales)

ADJUSTED EBITDA*

+21,2% 1,153 1,335

14.9%

15.5%

Q3 2017 Q3 2018

GROSS PROFIT*

+15.8%

(R$M and % of Net Sales)

+59bps

+61bps

LfL sales growth accelerated quarter after quarter this year, attesting to the strength of Atacadão’s commercial model;

EBITDA growth outpacing sales growth in Q3, resulting in margin expansion (7.5% adjusted EBITDA margin, +61bps);

Atacadão is delivering profitable growth despite fast pace of expansion: New stores accounted for 6.0% sales growth in Q3 (vs 5.1% in Q2 and 4.3% in Q1), with openings evenly spread over the year.

4.9% 5.4% 5.5% 5.5% 4.3% 5.1%

6.0%

6.3% 4.9%

1.6% 2.2%

0.5%

4.5%

6.2%

9.9% 9.7%

5.6% 7.0%

5.7%

8.4%

11.2%

Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18

Expansion LfL

(*) In order to make both years comparable, Q3 2017 Gross Profit and EBITDA have been adjusted downwards for 6-months ICMS-ST tax credits booked in Q3 and related to H1 2017. For Atacadão the reduction was of R$ 75

million in the same lines. These credits relate to the STF decision regarding presumed margin at the end of 2016 and recognized for the first time in September 2017, retroactively to January 1rst. Accumulated 9 months numbers

are fully comparable.

12

CARREFOUR RETAIL: BEST LFL PERFORMANCE SINCE Q1 2017 AND IMPROVED PROFITABILITY

SALES PERFORMANCE

140 185

3.4%

4.5%

Q3 2017 Q3 2018

(R$M and % of Net Sales)

ADJUSTED EBITDA*

+32.7%

1,004 1,027

24.8%

24.9%

Q3 2017 Q3 2018

GROSS PROFIT*

+2.3%

(R$M and % of Net Sales)

+11bps +105bps

Carrefour Retail sales growth driven by an improving trend in hypermarkets and strong performance in e-commerce;

First quarterly gross margin improvement since Q2 2017 thanks to better gross margin in 1P e-commerce, greater contribution of 3P and end of food deflation

Strong double-digit growth in adjusted EBITA from ongoing cost savings, with distribution costs down 2.5% to 20.5% of net sales (vs. 21.5% of net sales in Q3 2017) and better gross margin

3.0%

1.5%

-0.3%

-1.0%

0.1%

2.1%

3.0%

Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18

LfL

(869) (847)

21.5%

20.5%

Q3 2017 Q3 2018

(R$M and % of Net Sales)

SG&A EXPENSES

-2.5%

-91bps

(*) In order to make both years comparable, Q3 2017 Gross Profit and EBITDA have been adjusted downwards for 6-months ICMS-ST tax credits booked in Q3 and related to H1 2017. For Carrefour the adjustment of such tax

credits was a decrease of R$ 22 million in gross profit and EBITDA, respectively. These credits relate to the STF decision regarding presumed margin at the end of 2016 and recognized for the first time in September 2017,

retroactively to January 1rst. Accumulated 9 months numbers are fully comparable.

13

E-COMMERCE: FASTEST GROWING SEGMENT WITHIN CARREFOUR RETAIL

Carrefour GMV growth +106%

Orders +66%

Visits +61%

~32 milhões

Average Ticket +14%

Marketplace SKUs ~1 Million

Marketplace Penetration

16% of GMV

Market growth (E-BIT) +8%

Marketplace Sellers ~1,000

14

DATA AND ANALYTICS

DIGITAL TRANSFORMATION INITIATIVES AT CARREFOUR

DIGITAL EXPERIENCE

OMNICHANNEL ONE CARREFOUR

Click & Collect rolled out in hypermarkets, with NPS>70% ~10% of electronics sales in stores and ~25% of 1P smartphone sales +1 store with Drive in 3Q, reaching 10 stores by 2018-end, with NPS >70% and 40% of recurring orders

~9.8 MM registered clients

68% of sales are identified Frequency and average spending are 47% and 73% higher in registered clients, respectively, than in identified clients only

24% of our clients are omnichannel Single management of customer service (chatbot and AI) – nov/18 Single strategy for social networks, with anticipation of customer response to an average of 4 hours

One single telephone line access to access customer service

Partnership with Google Pilot with beacons with app push alerts in-store

Pilot of LIA in 3 stores – online view of store price and availability Omnichannel communication

Carrefour card available for Samsung Pay and Google Pay

Carrefour Stores already accept all digital wallets

First pilot of Carrefour Pay in a Carrefour Express store

Roll-out of self check-out for all our gas stations

PAYMENTS $

15

4,424 4,846

12,813 14,026

414 1,496

548

4,013

92 93

289

269

4,930 6,434

13,651

18,309

Q3 2017 Q3 2018 9M 2017 9M 2018

Carrefour Credit Card Billings Atacadão Credit Card Billings Other Products

CSF: IMPRESSIVE EBITDA GROWTH, ATACADÃO CARD REACHES BREAK-EVEN IN Q3

Quality of loan portfolio continued to improve.

Adjusted EBITDA in 9M already surpassing 2017 full-year EBITDA of R$557 million

Atacadão credit card has reached break-even, ahead of schedule and accounts for 10%

of Atacadão sales with 1.4 million cardholders at end-September.

ADJUSTED EBITDA

(R$M)

CREDIT PORTFOLIO, Comparable basis (Quarter-End)

(R$M)

ACTIVITY (Carrefour and Atacadão Credit Card Billings)

(R$M)

+30.5%

+34.1%

106 192

389

622

Q3 2017 Q3 2018 9M 2017 9M 2018

+81.2%

+59.9%

3,747

4,6555,047

5,614

6,887

6,265

7,420

432676

845 800 897

1,6251,795

10.8%

13.2%14.7%

11.1% 10.5%

19.7%

16.4%14.4%

18.1%18.9%

14.0% 13.4%

22.9%

19.8%

3Q14* 3Q15* 3Q16* 3Q17* 3Q18* 3Q17** 3Q18**

Outstanding Total Provision % Over 90 % Over 30

24%

8%11%

23%18%

11.5%CoverageRatio

24.2%25.9%13.0%14.2%16.8%14.5%

* IFRS previous methodology ** Considering

16

CLOSING REMARKS

Sébastien Durchon

Grupo Carrefour Brasil CFO

17

SALES GROWTH¹ (R$bn) ADJUSTED EBITDA² (R$ million and % of net sales)

0.5%

3.6%

5.1% 3.6%

3.9%

4.0%

6.0%

5.5%

8.1%

1Q18 2Q18 3Q18

LFL Expansion

1 – Sum difference is due to calendar and maintenance effect; 2 – In order to make both years comparable, Q3 2017 Gross Profit and EBITDA have been adjusted downwards for 6-months ICMS-ST tax credits booked in Q3 and related to H1 2017. For Carrefour the adjustment of such tax credits was a decrease of R$ 22 millionin gross profit and EBITDA, respectively, while for Atacadão the reduction was of R$ 75 million in the same lines. These credits relate to the STF decision regarding presumed margin at the end of 2016 and recognized for the first time in September 2017, retroactively to January 1rst. Accumulated 9 months numbers are fully comparable.

CONSISTENT ACCELERATION IN SALES AND EBITDA THROUGHOUT THE YEAR

843 934

991

1Q18 2Q18 3Q18

7.1% 7.6% 7.8%

6.1% 7.2% 7.5%

4.3% 3.9%

4.5%

Consolidated Atacadão Carrefour Retail

18

SOLID PERFORMANCE ALLOWS FOR ANTICIPATED PAYMENT OF PART OF 2018 DIVIDEND

Total Amount:

R$380 million R$0.19 per share Interest on Equity (IOE)

Shares will trade ex-IOE:

November 13th

Payment date:

December 12th

19

APPENDIX

20

OPERATING HIGHLIGHTS Q3 2018 RESULTS*

(*) In order to make both years comparable, Q3 2017 Gross Profit and EBITDA have been adjusted downwards for 6 months of ICMS-ST tax credits booked in Q3 and related to H1 2017. For Carrefour the adjustment of such tax credits was a decrease of R$ 22 million in gross profit and EBITDA, respectively, while for Atacadão the reduction was of R$ 75 million in the same lines. These credits relate to the STF decision regarding presumed margin at the end of 2016 and recognized for the first time in September 2017, retroactively to January 1rst. Cumulative 9 months numbers are fully comparable. (**) As a reminder, the Adj. Net income is the Net Income adjusted for other operating income and expenses and their respective income tax impacts. For a detailed calculation of the impact, please refer to Net income analysis on slide 21.

In R$ million Q3 18 Q3 17* ∆% Q3 18 Q3 17* ∆% Q3 18 Q3 17* ∆% Q3 18 Q3 17* ∆% Q3 18 Q3 17* ∆%

Gross sales 13,968 12,918 8.1% 9,467 8,513 11.2% 4,501 4,405 2.2%

Gross sales ex petrol 13,256 12,242 8.3% 9,467 8,513 11.2% 3,789 3,729 1.6%

Net sales 12,738 11,786 8.1% 8,614 7,735 11.4% 4,124 4,051 1.8%

Other revenues 747 600 24.5% 33 30 9.6% 95 96 -1.3% 619 475 30.3%

Total Revenues 13,485 12,386 8.9% 8,647 7,765 11.4% 4,219 4,147 1.7% 619 475 30.3%

Gross profit 2,772 2,456 12.9% 1,335 1,153 15.8% 1,027 1,004 2.3% 410 299 37.2%

Gross Margin 21.8% 20.8% +93 bps 15.5% 14.9% +59 bps 24.9% 24.8% +11 bps

SG&A Expenses (1,788) (1,715) 4.3% (691) (622) 11.1% (847) (869) -2.5% (218) (193) 13.1% (32) (30) 6.7%

SG&A of Net Sales 14.0% 14.6% -51 bps 8.0% 8.0% -2 bps 20.5% 21.5% -91 bps

Adj. EBITDA 991 747 32.6% 646 533 21.2% 185 140 32.7% 192 106 81.2% (32) (30) 6.7%

Adj. EBITDA Margin 7.8% 6.3% +144 bps 7.5% 6.9% +61 bps 4.5% 3.4% +105 bps

D&A (188) (168) 11.8% (80) (68) 17.0% (102) (94) 9.0% (5) (6) -9.8%

Adj. Net Income, Group share (**) 391 233 67.6%

Adj. Net Income Margin (**) 3.1% 2.0% +109 bps

CONSOLIDATED ATACADÃO CARREFOUR RETAIL CSF GLOBAL FUNCTIONS

21

OPERATING HIGHLIGHTS 9M 2018 RESULTS*

(*) As a reminder, the Adj. Net income is the Net Income adjusted for other operating income and expenses and their respective income tax impacts. For a detailed calculation of the impact, please refer to Net income analysis on slide 21.

In R$ million 9M 18 9M 17 ∆% 9M 18 9M 17 ∆% 9M 18 9M 17 ∆% 9M 18 9M 17 ∆% 9M 18 9M 17 ∆%

Gross sales 40,523 38,025 6.6% 26,882 24,778 8.5% 13,641 13,247 3.0%

Gross sales ex petrol 38,394 36,024 6.6% 26,882 24,778 8.5% 11,512 11,245 2.4%

Net sales 36,901 34,715 6.3% 24,424 22,525 8.4% 12,477 12,190 2.4%

Other revenues 2,188 1,848 18.4% 101 67 50.9% 280 264 6.0% 1,807 1,518 19.1%

Total Revenues 39,089 36,563 6.9% 24,525 22,592 8.6% 12,757 12,454 2.4% 1,807 1,518 19.1%

Gross profit 7,991 7,410 7.8% 3,716 3,348 11.0% 3,053 3,139 -2.7% 1,222 924 32.3%

Gross Margin 21.7% 21.3% +36 bps 15.2% 14.9% +31 bps 24.5% 25.8% -133 bps

SG&A Expenses (5,243) (5,030) 4.2% (2,016) (1,846) 9.2% (2,537) (2,562) -1.0% (600) (535) 12.2% (90) (87) 3.6%

SG&A of Net Sales 14.2% 14.5% -28 bps 8.3% 8.2% +6 bps 20.3% 21.0% -68 bps

Adj. EBITDA 2,768 2,397 15.5% 1,706 1,506 13.3% 530 591 -10.2% 622 389 59.9% (90) (87) 3.6%

Adj. EBITDA Margin 7.5% 6.9% +60 bps 7.0% 6.7% +28 bps 4.3% 4.8% -55 bps

D&A (552) (487) 13.3% (230) (195) 17.8% (306) (277) 10.6% (16) (16) 0.0%

Adj. Net Income, Group share (**) 1,124 803 40.0%

Adj. Net Income Margin (**) 3.0% 2.3% +73 bps

CONSOLIDATED ATACADÃO CARREFOUR RETAIL CSF GLOBAL FUNCTIONS

22

RECONCILIATION ADJUSTED EBITDA

In order to make Q3 2017 EBITDA have been adjusted downwards for 6 months of ICMS-ST tax credits booked in Q3 and related to H1 2017. The adjustment of such tax credits was a decrease of R$ 97 million in EBITDA, respectively. These credits relate to the STF decision regarding presumed margin at the end of 2016 and recognized for the first time in September 2017, retroactively to January 1rst. Cumulative 9 months numbers are fully comparable. There is also the adjustment for other operating income and expenses and their respective income tax impacts.

In R$ mi l l ion Q3 18 Q3 17 ∆ 9M 18 9M 17 ∆

Net income 392 581 -32.5% 1,164 1,079 7.9%

(+) Income tax and social contribution 225 322 -30.3% 620 530 16.9%

(+) Net financial results 120 168 -28.8% 258 595 -56.7%

(+) Depreciation and amortization 188 168 12.0% 552 487 13.4%

(+) Supply chain depreciation and amortization 7 6 15.2% 20 17 14.9%

(=) EBITDA 932 1,245 -25.1% 2,614 2,708 -3.5%

(+/-) Other (income) expenses 59 (401) -114.7% 154 (312) -149.4%

(=) Adjusted EBITDA as reported 991 845 17.3% 2,768 2,397 15.5%

(+/-) Recurring Tax credits from H1 2017 0 (97) n.m. 0 0 n.m.

(=) Adjusted EBITDA 991 747 32.6% 2,768 2,397 15.5%

23

NET ADJUSTED INCOME, GROUP SHARE, RECONCILIATION

(* ) Tax credits totaled R$97 million in Q3: R$75 million at Atacadão and R$22 million at Carrefour

Q3 2018 net income, Group share, adjusted for the six-months additional gain of non-recurring ICMS-ST in Q3 17, These credits relate to the STF decision regarding presumed margin at the end of 2016 and recognized for the first time in September 2017. The net income adjusted is also adjusted for other operating income and expenses and their respective income tax impacts

In R$ million Q3 18 Q3 17 ∆ 9M 18 9M 17 ∆

Net profit, group share 355 562 -36.8% 1,024 1,002 2.2%

(-) Tax credits from previous quarters - (97) n.m. - - n.m.

(-) Other income (expenses) 59 (401) n.m. 154 (312) n.m.

(-) Actualization on other income

(expenses) items(7) 0 n.m. (7) 0 n.m.

(-) Tax income on on other income

(expenses) items(16) 170 n.m. (47) 113 n.m.

Net profit, Group share, adjusted 391 233 67.6% 1,124 803 40.0%

Net margin 3.1% 2.0% 3.0% 2.3%

24

DISCLAIMER

This document contains both historical and forward-looking statements on expectations and projections about operational and financial results of the Company. These forward-looking statements are based on Carrefour management's current views and assumptions. Such statements are not guarantees of future performance. Actual results or performances may differ materially from those in such forward-looking statements as a result of a number of risks and uncertainties, including but not limited to the risks described in the documents filed with the CVM (Brazilian Securities Commission) in particular the Reference Form. The Company does not assume any obligation to update or revise any of these forward-looking statements in the future.

IR Contact Sébastien Durchon Daniela Bretthauer Letícia Montagnani CFO and Director of Investor Relations Investor Relations Director Investor Relations Coordinator Telephone: +55 11 3779-8500 ribrazil@carrefour.com www.grupocarrefourbrasil.com.br

About Grupo Carrefour Brasil Grupo Carrefour Brasil has been present in Brazil for over 40 years and is the market leader in food distribution and retail. By operating a multiformat and omnichannel platform, it combines retail and cash & carry operations, as well as financial solutions for its clients through Banco Carrefour. We also manage our real estate and portfolio of galleries and shopping centers through our real estate division - Carrefour Property. The Group is present in every state of Brazil, which allows us to meet the different needs of its millions of customers across the country. In 2017, we reinforced our e-commerce presence with the launch of a marketplace platform of and a proprietary e-commerce food operation via our website www.carrefour.com.br. In traditional retail, we operate with several formats of stores: Carrefour (hypermarket), Carrefour Bairro and Carrefour Market (supermarket), Carrefour Express (convenience store) and Atacadão (cash & carry and delivery wholesale) as well as Supeco (compact wholesale cash&carry). Additionally, we offer complementary services to our food distribution business with gas stations and drugstores services branded as Carrefour and Atacadão. We are the largest retailer in Brazil and operate more than 638 points of sale. With gross sales of R$ 52.4 billion in 2017 and more than 82,000 employees, the company is one of the largest private employers in the country and the largest retailer among the 20 largest listed companies at the B3 - Brazilian Stock Exchange.