Almacenes Éxito S.A. Segregation (Éxito)

Description about Almacenes Éxito S.A. Segregation

On September 5, 2022, GPA announced, by Material Fact, that its Board of Directors approved a preliminary studies for the potential segregation of GPA and Almacenes Éxito S.A. (“Éxito”), a subsidiary of GPA (the “Transaction”). Éxito is a Colombian company with a public company registration and listing on the Colombian Stock Exchange (Bolsa de Valores de Colombia) (“BVC”).

The goal of the transaction is enhancing the market value of the shares of GPA and Éxito separately. The transaction consist of the segregation of GPA and Éxito through a capital reduction of GPA with the objective of distributing approximately 83% of the shares of Éxito currently held by GPA to its shareholders. Therefore, following the closing of the Transaction, GPA would retain a minority stake of approximately 13% in Éxito, with a potential for monetization in the future.

In January 9, 2023, the Board of Directors of each of GPA approved a proposal to be submitted to the approval of GPA’s shareholders at an extraordinary general meeting to be held on February 14, 2023 (“General Meeting”), of a capital reduction of GPA with the delivery of Éxito’s shares to its shareholders, in proportion to their respective holdings in GPA’s capital stock.

Please find below all the documents published by the Company related to the corporate reorganization.

Notice to the Market and Material Fact
Extraordinary General Meeting
Board of Directors‘ Meetings
Fiscal Council‘s Meetings