São Paulo, July 22, 2015 – Companhia Brasileira de Distribuição (“Company”), in view of the article published in Valor Economico on the date hereof, about the real estate lease agreements entered into by the Company with the Fundo de Investimento Imobiliário Península (“Lease Agreements”), presents the following clarifications:

1. The Lease Agreements are long-term contracts, entered into in the context of the acquisition of ownership interest in the Company by the Casino Group in 2005.

2. The relevance of the Lease Agreements to the Company’s business was recognized and reaffirmed in the Settlement Agreement entered into in September 2013, which ended the disputes between Casino and Mr. Abilio dos Santos Diniz, who was then released from the non-compete obligations assumed in 2005.

3. Since 2005 the Lease Agreements have been observed by the Company, in a consistent manner, throughout its various administrations, with the corresponding payment of rents, as stated in the public information of the Company.

4. The Company reiterates its confidence that the contracts will be respected by the counterparts, and confirms it has no knowledge of any intent or attempt to questioning the Lease Agreements, which, apart from being obviously unfounded, could constitute unfair competition, in light of the current circumstances.

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