Chairman and CEO,

ALEXANDRE BOMPARD Carrefour

2
Carrefour:
a winning position built in only 3 years

x3 +3m +11pts
e-Commerce food Online customers Profitability
GMV since 2018 during COVID increase in 2 years
+15pp growth/year
vs. market

3
A unique dual network of e-commerce
preparation points

3,700+ 45
e-commerce-enabled stores e-commerce fulfillment centers
4
 State-of-the-art tech foundations

Omnichannel Next-gen
capabilities infrastructure

Digital platforms
and services
30%
public
Full cloud
800m visits cloud by 2026
per year

5
 The largest data lake in Europe

Global data lake

Unified country
data platforms

8bn transactions
(3 years)

6
A proven track record for our digital future

x3 +3m +11pts 800m 30% 8bn

e-Commerce Online customers Profitability Digital visits Public Transactions
food GMV during COVID increase in 2 years per year cloud in our global
since 2018 data lake

7
 When customers turn to omnichannel
they create additional value

Carrefour offline Becoming omnichannel

customer customer

+22% GMV

Spending Basket +7%

by customer Frequency +15%

Carrefour figures based on our operations in France, Spain and Brazil, 2019-2021

8
 Omnichannel customers create
additional value for Carrefour

Average spending per customer

Offline customer
Omnichannel customer
+22% +27%

M M+12 M+24

9
 3 trends
reshaping the market

Speed Digital convenience Customization

10
Taking the lead on #1
emerging trends in Home Delivery in
Continental Europe

#1 retailer to jump First mover on Already successful

on quick social commerce personal shopper
commerce model

11
e-commerce GMV
by 2026
12
 Generating
new sources of value through data
Global data lake

Marketing Operations
efficiency improvement

Customer experience
New revenue
enhancement
streams
13
 Stepping stone to becoming
the European leader in retail media

Carrefour Links
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Digitization of financial services,
embedded in retail

15
Digital ROI to increase
by

by 2026

16
Building a better business model
Turning customers to omnichannel

Digital-centric More online traffic

culture and 1st party data

Partnerships Better service

and venture capital Innovating Digitizing and more personalization

New profitable Creating Wider range of offers

revenue streams value Growing and services

Lower operating Increased sales

and acquisition costs and retention

powered by digital
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 The future of retail belongs to those who
offer a seamless ecosystem

Pure online Local

retailers retailers

International footprint

Digital scale

Multiformat and omnichannel

Retention and frequency

Best-in-class Gaps vs. competition

18
 Executive Director E-commerce,
ELODIE PERTHUISOT Data and Digital Transformation,
Carrefour

19
 What you will hear from me today

Proof Granular figures Action plans

Facts demonstrating A transparent deep dive A concrete strategy
our strategy into our digital businesses to reach our ambitious goals

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e-commerce GMV
by 2026

21
 The e-grocery market is reshaping fast

Attraction Convenience

Click Home delivery Same-day Express delivery Quick commerce

& Collect D+1 delivery < 3h < 15 min

2021 market Fast-growing market segments

22
New fulfillment centers

Same-day delivery

of orders by 202323
 Exponential growth
in the new French
express delivery service

Run rate GMV in one year

24
 Uniquely positioned
for quick commerce and express delivery

1,000 Urban
e-commerce enabled micro-fulfillment centers
convenience stores

25
We will keep accelerating with Uber

EXCLUSIVELY WITH

26
 The e-grocery market is reshaping fast

Attraction Convenience
Click & Collect Home delivery D+1 Same-day delivery Express delivery Quick commerce

Carrefour Home Delivery

solutions
Corner shop Uber Eats Uber Eats
Key partners
Rappi Deliveroo

Logistics Fulfillment centers and stores Micro-fulfillment centers + Convenience stores

27
Our battle plan
2026 market share in e-grocery
by 2026 in both countries

+52 Fulfillment centers

+11

+75% Population covered

by express delivery +65%
28
 Market leader
in B2B e-commerce in Brazil by 2026

st B2B network
B2B marketplace

New app

Financial services for B2B

29
 Making smart moves
in non-food e-commerce

Key verticals Marketplaces

SKUs in France in 2022

30
 Key trends in
non-food e-commerce

Drop Second-
shipment hand

31
Social commerce
Becoming the retail market leader

million
viewers in 2021
32
Seamless customer experiences
will accelerate omnichannel

average spending per

omnichannel customer

Social

Digital receipts

Digital catalogues
e-commerce

33
 A digital factory with
an established track record

x2 60% 30%
Conversion rate in 2 years in France Digital credit production in Brazil Baskets personalized in France

34
By 2026

yearly visits on our digital assets

of omnichannel customers35
 Unique AI-driven prediction
capabilities for our grocery business

Recurring purchases Look-alike customers

58%
+ =
of basket predicted

36
 Our growth opportunities

€10bn +70 #1 >20% 2.5bn

e-Commerce New fulfillment Retailer in Market share food Yearly visits
GMV by 2026 centers by 2026 express delivery e-commerce on digital assets
and quick in France and by 2026
commerce Spain by 2026

37
 Carrefour Links
addressing the fast-growing retail media market

€14bn
WW retail media today
€30bn
WW retail media by 2024
excluding Amazon and China excluding Amazon and China

38
SOURCE: McKinsey /
 A groundbreaking approach

Unique 1 party
st data Collaboration platform The industry of tomorrow

8bn+ transactions Target

Measure
80+m customers

Optimize end-to-end

39
Meet
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 Adrien’s customer journey

Adrien, a loyalty card On the Carrefour website, On Facebook, we push him When Adrien buys the ice
customer, we push him a personalized a collaborative Facebook cream in store, we compute
gives his consent for offer for ice cream ad the sales uplift from the digital
personalized offers ads he was exposed to

41
 “The use of Carrefour Links has really helped us step change the
way we work with Carrefour, enabling us to better uncover shopper
insights and create demand through targeted activities. It allowed
us to jointly grow our business. We recently completed a first
successful data-driven media campaign in France which resulted in
a +18% revenue for our Magnum brand within Carrefour. We look
Alan Jope forward to continue this unique journey together as we have many
more opportunities waiting to be seized.”
CEO Unilever

"Carrefour’s tools, world-class data governance and media

capability is enabling Kellogg’s to understand shoppers and
consumers in our category better, in order to meet their needs
and deliver the right messaging, at the right time, to drive repeat
purchases and grow the cereal category.”

Dave Lawlor
President Kellogg’s Europe
42
 Carrefour Links is
uniquely positioned for impact

“Closed loop”
Scale
80m customers
>13k stores
Open ecosystem

1st Party data

Tech partnerships
50m cardholders
8bn transactions

43
 Carrefour Links
is ahead of the competition

Carrefour Links US retailers French alliance

International footprint

Unified data

Offer quality / completeness

Open ecosystem

Best-in-class Gaps vs. competition

44
 President,
WARREN JENSON LiveRamp

45
46
 Group Financial
BENJAMIN DUBERTRET and Merchant Services Director,
Carrefour

47
 Financial services:
a solid digital base on which to build

Global impact of digital A powerhouse A proven ability to

on our topline in Brazil develop valuable
new assets

30% 66% 38%

of card of customers share of digital
clients acquired active on in credit
on digital digital production

48
Digital and data will accelerate our strategy

Full integration Product Optimization of

into retail diversification current operations

49
 Deep into retail:
Brazil is our locomotive for retail integration

Digital acquisition with first Digital account and Financial services

purchase in real-time on “Minhas Recompensas” integration on WhatsApp
Carrefour e-commerce loyalty program assistant “Carina”

50
 Deep into retail:
financial services will be embedded in the
Carrefour SuperApp

“Everything under one roof”

Card Credit
acquisition subscription

BNPL Account
solutions monitoring

app users
Financial services
Retail features
winning features for the financial services

51
 Deep into retail:
seizing a largely untapped opportunity
by combining retail and banking data
Broader set of data Better lifecycle coverage Machine learning models

Retail data Acquisition

+
Banking data Retention
Loyalty
and
animation

+
Open-banking data
Cross-
and up-sell

52
Buy Now Pay Later (BNPL):
a major opportunity for Carrefour

$693bn
$52bn
Source: Deustsche Bank, JP Morgan

From a card-based approach… ...to full in-app BNPL solutions

for all customers
Installments in B2C
A broader range of product options
Pre & post-purchase use cases
Real-time
53
 Deriving incremental revenue
from further diversification

Digital Account and Full digital insurance

Micro-credit
Acquiring Platform (APAG) brokerage platform

54
 Financial services:
Key ambitions 2021-2026

Growth in digital Growth in the Net Banking Optimize the cost of risk
customers Income per customer and the cost-to-income
ratio

55
 Executive Director E-commerce,
ELODIE PERTHUISOT Data and Digital Transformation,
Carrefour

56
Solid achievements on cost improvement

Granular management of €/item Efficient network choices

e-Commerce ROI, % of net sales

+11 pts

2019 2020 2021

57
 Adapting preparation models
to population density
Population / density of a catchment area

Pick-in-store Micro-fulfillment center Fulfillment center

(manual or automated) (manual or automated)

Relative items picked per hour

58
 The equation of order profitability

Commercial Variable Fixed Last

margin costs costs mile costs
New merchant services Increased proportion of industrial models Model adapted to demand density Yield model
Fresh penetration Demand forecasting improvement Volumes creation Test of new delivery options
Optimized promotions AI for picking optimization

Profit/order
59
 Equation of last mile costs

-15%
cost of delivery with AI-powered yield model
60
 Our operating model for profitable
e-commerce growth

Contribution Improving contribution margin

margin
through lower variable costs
Profit
Network
expansion

Fixed costs Profit

Volumes

61
We will constantly improve our
e-commerce operating profit

ROI by 2026
62
MIGUEL ÁNGEL Global Chief Technology
and Data Officer,
GONZÁLEZ GISBERT Carrefour

63
We will revolutionize 67k cash desks around
the world with an in-house, open source
solution

customers
FOR associates
business

64
 Our app
to BETTER SERVE
our customers in the store
Automated
One stop shop Data-powered
store processes

65
“Flash Scan&go” at full speed in Brazil...

Autonomous
CapEx-light
The store IN my home
66
…and “Flash 10-10” to prepare for the
future

Coming soon
in Paris...

67
 Executive Director E-commerce,
ELODIE PERTHUISOT Data and Digital Transformation,
Carrefour

68
 Tech and AI will help us
revolutionize our operations

Sourcing Supply Chain Assortment Promotion

e-Catalogue
Assortment builder Promo-optimization
Netflix of assortment

Collaborative sourcing Auto re-appro

Demand forecasting Flexible logistics

69
 Automated assortment builder

of the assortment automatically defined

70
“Netflix for assortment”
Carrefour assortment Search
Best sellers recommended for your store

Galettes bio riz complet Jus d’orange 1L Jambon Le Supérieur sel réduit
CARREFOUR BIO CARREFOUR BIO CARREFOUR EXTRA

0.65€ 2.85€ 2.11€

6.50 € / Kilogram 2.85 € / Liter 13.19 € / Kilogram

Yaourt nature Quinoa blanc, rouge & noir

CARREFOUR CLASSIC’ CARREFOUR

1.78€ 3.12€
0.89 € / Kilogram 7.80 € / Kilogram

71
 We are quickly
digitizing our catalogues

2,000 stores
with fully digitized catalogues
by the end of 2022

72
Promotions will be targeted
and personalized

Promotion efficiency

with better-targeted
and personalized offers
73
 How data increases chocolate sales

5% of customers 45k customers 1:10 min

buy 50% of chocolate bought a new chocolate the time it takes to get
brand since September these numbers…

74
Digital will have a strong impact on ROI
through e-commerce operations but
also by improving retail operations

+€200m 80% 2,000 100% +3,000

e-Commerce ROI Automated Stores with fully Augmented Data experts
by 2026 assortment digitized catalogs employees by 2026
by the end of 2022 with U-Care

75
 Chief Financial Officer,
MATTHIEU MALIGE Carrefour

76
Strategy at work

Since 2018
Digital as a key priority €2bn+ spent since 2018
of Carrefour 2022 plan to digitalize Carrefour
Backbone in place for acceleration

x3 food e-commerce GMV Incremental e-commerce now

since 2018
accretive to earnings

77
 e-commerce GMV by 2026 €10bn

€3.3bn x3
2021 2026

Accelerate core e-grocery sales

Seize express delivery opportunity Improving Group’s

Raise ambition on non-food e-commerce
 growth profile

Lead the way in B2B e-commerce

78
 Digital ROI to increase by

by 2026

Strong operating leverage in food e-commerce

200
Fast growth and high margin at Carrefour Links
200
Financial services acceleration with digital
200

e-Commerce Carrefour Links Financial Digital in retail Benefits of “digital first” approach in operations
services operations

79
Steady ramp-up
in ROI growth
Incremental ROI from digital €600m

2022 2023 2024 2025 2026

Digital strategy
accretive to ROI margin80
€3 billion digital Capex between 2022 and 2026

e-Commerce IT

Network expansion Cloud strategy

Robotization Digital factory
Warehouses and MFCs Tech for stores
Digital workplace

Data Financial
Services

Scale our teams SuperApp

Data factory Acquisition journey
Data projects Home banking
Process automation
81
 Capital allocation
Driving high financial and strategic
returns

€600m/y
€400m/y
+50% Digital Capex increase 2018 2021 2022 2026

Group Capex to be in the high end of the €1.5-1.7bn annual range

Digital strategy positive on net free cash flow as of 2023

82
Digital winners
will drive Retail leadership

Be the frontrunner on Digital in all our core markets

Explore all options in a fast-changing digital world

Keep constant focus on value creation for shareholders

83
 Chairman and CEO,
ALEXANDRE BOMPARD Carrefour

84
 The “Carrefour way”
of executing our digital transformation

Promote a Operate a Create an open

digital first culture green and responsible ecosystem to foster
digital transformation innovation

85
 The “Carrefour way”
of executing our digital transformation

Promote a
digital first culture

86
 Invest in people and change the way every
associate works at Carrefour

DigitalRetail Academy Workplace by

100% of our staff trained on digital by 2024
Facebook
connecting our 320k employees

87
 The “Carrefour way”
of executing our digital transformation

Operate a
green and responsible
digital transformation

88
We want green and responsible
e-commerce operations

Group-wide

CO2
e-Commerce
89
 The “Carrefour way”
of executing our digital transformation

Create an open
ecosystem to foster
innovation

90
We will create an open ecosystem
to help us to innovate

91
Carrefour
A world-leading Digital Retail company

92