Slide 1: 2023 Market Release
6 March 2024 2023 MARKET RELEASE HERE
Slide 2: What we did in 2023
WHAT WE DID IN 2023 up 18.1% vs 2022 up 13.7% vs 2022 (AT CONSTANT RATES) (AT CONSTANT RATES) 2
Slide 3: What we did in 2023
WHAT WE DID IN 2023 WE CREATED JOBS PAID IN TAXES POLAND €849M PORTUGAL €141M COLOMBIA €25M 47th largest retailer in the world 31st largest food retailer in the world 19th largest food retailer in Europe Source: Global Powers of Retailing 2023, Deloitte 3
Slide 4: Poland
Slide 5: Poland macroeconomic environment
GDP PRIVATE CONSUMPTION STAGNANT GDP 4TH HIGHEST INFLATION IN EUROPE 3RD HIGHEST FOOD INFLATION (EU AVERAGE 0.5%) (2022: 5.2%) IN THE EU (2022: 5.3%) GOVERNMENT KEPT VAT IN 0% ON ESSENTIAL FOODSTUFFS UNEMPLOYMENT FOOD HIGH INTEREST RATES RATE INFLATION VERY LOW UNEMPLOYMENT RATE SIGNIFICANT WAGE INC
Slide 6: Biedronka
2 © IN REVIEW "> > Biedronka Codziennie niskie ceny Biedronka Jeronimo Martins
Slide 7: Biedronka results
RESULTS SALES IN LOCAL CURRENCY EBITDA €21.5 BILLION MARGIN AT 8.5% INVESTED (up 22.3% IN EUROS) INCREASED MARKET LIKE-FOR-LIKE NEW STORES REFURBISHMENTS (3,569 STORES IN TOTAL) SHARE (+1.5 p.p.) SOURCE: GfK (FMCG) EMPLOYEES 7
Slide 8: Recognition of the teams
SALARY INCREASES IN STORES AND DISTRIBUTION CENTRES INVESTED IN AWARDS
Slide 9: Focus on the consumer / promotional dynamic
FOCUS ON THE CONSUMER / PROMOTIONAL DYNAMIC TELEVISION PROMOTIONAL ADS LEAFLETS users 9
Slide 10: Focus on the consumer / promotional dynamic
FOCUS ON THE CONSUMER / PROMOTIONAL DYNAMIC Shakeomat Christmas special with season discounts. TV, radio and online campaign 10
Slide 11: Focus on the consumer / price leadership
FOCUS ON THE CONSUMER / PRICE LEADERSHIP Campaign Campaign Every day, more than 5 million consumers have Throughout the year, Biedronka offered the lowest reasons for saying "To Biedronka I Go". prices and additional saving opportunities to Polish families, with promotions on every categories. Multi
Slide 12: Focus on the consumer / loyalty programme
FOCUS ON THE CONSUMER / LOYALTY PROGRAMME Campaign Advertised on TV, radio, outdoor, digital channels and in-store. Campaign launched in the back-to-school period. Focus on child nutrition and healthy eating habits: • Collection of 11 soft toys in the shape of food • Activity book • Educational game
Slide 13: Focus on the consumer / loyalty programme
FOCUS ON THE CONSUMER / LOYALTY PROGRAMME In March, Biedronka again implemented promotional scratch cards, which were handed out to customers until 8 April, based on the value of each purchase. 13
Slide 14: Focus on the customer / innovation
FOCUS ON THE CUSTOMER / INNOVATION LAUNCHES REFORMULATIONS (593 INCLUDING IN & OUT) WEIGHT OF PRIVATE BRAND ON SALES (EXCLUDING F&V, BAKERY AND NON-FOOD)
Slide 15: Sponsorships / innovation
SPONSORSHIPS / INNOVATION Support for the main men and women's teams and junior national teams between the ages of 15 and 21 Partnership between the Go Active Private Brand and the Polish Football Association to develop products associated with an active lifestyle. In 2023, a total of 8 products wer
Slide 16: Focus on the consumer / proximity
FOCUS ON THE CONSUMER / PROXIMITY
Slide 17: Focus on the consumer / proximity
FOCUS ON THE CONSUMER / PROXIMITY with: • 18 dark stores dedicated exclusively to this service • More than 1,500 Private Brand and industrial brand products • Service available in 6 Polish cities • Deliveries every day, from 8am to 11pm
Slide 18: Respecting the environment
RESPECTING THE ENVIRONMENT In July, Biedronka and Powerdot implemented the largest fast EV charging network in Poland • 600 by the end of 2024 premises with solar photovoltaic power production units (118 in 2022)
Slide 19: Supporting surrounding communities
SUPPORTING SURROUNDING COMMUNITIES 32nd final of Wielka Orkiestra Świątecznej Pomocy - WOŚP (The Great Orchestra of Christmas Charity) Between December 2023 and January 2024, c.€1.5 million were raised (c.6.5 million in zloty) through the sale of official merchandise and customer donations. The full
Slide 20: Portugal
Slide 21: Portugal macroeconomic environment
GDP PRIVATE CONSUMPTION ONE OF THE HIGHEST GDP GROWTH IN THE EU (EU AVERAGE 0.5%) PERSISTENT HIGH FOOD INFLATION (2022: 5.6%) WITH A DECREASE TENDENCY (2022: 6.8%) GOVERNMENT REDUCED VAT TO 0% ON BASIC FOODSTUFFS FROM 18 UNEMPLOYMENT FOOD APRIL TO 4 JANUARY 2024 RATE INFLATION 7.9% INCREASE OF THE M
Slide 22: Pingo Doce
202 IN REVIEW "> Pingo Doce Jeronimo Martins
Slide 23: Pingo Doce results
RESULTS SALES EBITDA TO €4.9 BILLION MARGIN AT 5.8% INVESTED LIKE-FOR-LIKE NEW STORES REFURBISHMENTS EMPLOYEES (482 STORES IN TOTAL) (EXCL. FUEL) 23
Slide 24: Recognition of the teams
RECOGNITION OF THE TEAMS Awarded the Inclusive Employer Brand seal by Instituto do Emprego e Formação Profissional [Institute for Employment and Vocational Training]. 24
Slide 25: Focus on the consumer / price leadership
FOCUS ON THE CONSUMER / PRICE LEADERSHIP Campaign Campaign An assortment of essential products at 2021 Reduced prices on over 1,500 products of a wide prices each week variety of categories and brands Campaign ran until April 25
Slide 26: Focus on the consumer / promotional dynamic
FOCUS ON THE CONSUMER / PROMOTIONAL DYNAMIC CAMPAIGNS LEAFLETS 26
Slide 27: Launch of the Saver Shaker
FOCUS ON THE CONSUMER / PROMOTIONAL DYNAMIC App Launch of the "Saver Shaker” Feature that gives customers the opportunity to win one discount coupon per day just by shaking their mobile phone. More than 100,000 shakes per day €40,000 per week 2,000+ prizes 27
Slide 28: Focus on the consumer / innovation
FOCUS ON THE CONSUMER / INNOVATION LAUNCHES REFORMULATIONS First and only retailer in the country to eliminate all flavour enhancers and WEIGHT OF PRIVATE BRAND ON SALES artificial colouring from all of its Private Brand food products. 28
Slide 29: Focus on the consumer / proximity
FOCUS ON THE CONSUMER / PROXIMITY Focusing on Meal Solutions, Perishables and Private Brand 29
Slide 30: Supporting surrounding communities
SUPPORTING SURROUNDING COMMUNITIES Large-scale operation to ensure food for pilgrims and volunteers. During WYD, Pingo Doce stores near the event venues had extended opening hours and increased stock replenishment. 30
Slide 31: Supporting surrounding communities
SUPPORTING SURROUNDING COMMUNITIES Third nationwide edition of the programme to support local communities. ENTRIES CAUSES SUPPORTED DONATED 31
Slide 32: Supporting surrounding communities
SUPPORTING SURROUNDING COMMUNITIES WINNER: €500,000 in prizes already awarded (€250,000 in the text category and €250,000 in the illustration category) TEXT ILLUSTRATION Márcio Cláudia Martins Abrantes (€25,000 cash (€25,000 cash prize) prize) Total: €50,000 in prizes 3,600 entries 32
Slide 33: Recheio
202 IN REVIEW "> Recheio Jeronimo Martins
Slide 34: Recheio results
RESULTS SALES EBITDA TO €1.3 BILLION MARGIN AT 5.4% INVESTED LIKE-FOR-LIKE STORES EMPLOYEES (INCLUDES 4 PLATFORMS) ELECTED THE #1 BRAND OF CHOICE BY PROFESSIONALS CONSECUTIVELY SINCE 2015 34
Slide 35: Recognition of the teams
RECOGNITION OF THE TEAMS Again awarded the Inclusive Employer Brand seal by Instituto do Emprego e Formação Profissional [Institute for Employment and Vocational Training]. 35
Slide 36: Focus on the customer / innovation
FOCUS ON THE CUSTOMER / INNOVATION LAUNCHES REFORMULATIONS WEIGHT OF PRIVATE BRAND ON SALES 36
Slide 37: Focus on the customer / promotional dynamic
FOCUS ON THE CUSTOMER / PROMOTIONAL DYNAMIC LEAFLETS (incl. Amanhecer) 37
Slide 38: Focus on the customer / engagement and proximity
FOCUS ON THE CUSTOMER / ENGAGEMENT AND PROXIMITY Focus of different regions of the country in the HoReCa catalogue. One customer featured from each region, sharing the best of Portuguese gastronomy. 38
Slide 39: Focus on the customer / engagement and proximity
FOCUS ON THE CUSTOMER / ENGAGEMENT AND PROXIMITY • Event for members of the Portuguese Hotel Association • Recheio Chefs showcased the Christmas Special MasterChef studio events Menu, dedicated to the hotel segment • Wine tasting with the wine producers distributed by Recheio In partnership with Sea
Slide 40: Focus on the customer / engagement and proximity
FOCUS ON THE CUSTOMER / ENGAGEMENT AND PROXIMITY
Slide 41: Proximity: widening of the Lisbon platform
PROXIMITY Widening of the Lisbon platform 41
Slide 42: Proximity
PROXIMITY Supermercado 609 & Flor de Satao Abrimos portas AMANHEGER 2 um novo Amanhecer. STORES Visite-nos na Praga Paulo VI, n° 5-7. Estamos a sua espera com surpresas! © © Lojas Amanhecer
Slide 43: Colombia
4 *
Slide 44: Colombia macroeconomic environment
GDP PRIVATE CONSUMPTION SLIGHT GDP GROWTH 11.7% INFLATION, HIGHER THAN IN 2022 (10.2%) (AVERAGE IN LATIN AMERICA 2.5%) (2022: 10.7%) (2022: 7.3%) PERSISTENT HIGH FOOD INFLATION WITH A DECREASE TENDENCY HIGHEST INTEREST RATES SINCE 1999 UNEMPLOYMENT FOOD RATE INFLATION IMPROVEMENT IN THE UNEMPLOYMENT
Slide 45: Ara
2023 IN REVIEW * Ara Jeronimo Martins
Slide 46: 46
46
Slide 47: Ara results
RESULTS % SALES IN LOCAL CURRENCY EBITDA €2.4 BILLION MARGIN AT 1.9% INVESTED (up 37.7% IN EURO) LIKE-FOR-LIKE NEW STORES TOTAL STORES EMPLOYEES CELEBRATION OF THE COMPANY’S 10TH ANNIVERSARY 47
Slide 48: Recognition of the teams
ai INCREASES FOR STORE AND DISTRIBUTION CENTRE EMPLOYEES €7.3M
Slide 49: Focus on the consumer / campaigns
FOCUS ON THE CONSUMER / CAMPAIGNS Communicated on TV, in stores and on digital channels. 49
Slide 50: Focus on the consumer / promotional dynamic
FOCUS ON THE CONSUMER / PROMOTIONAL DYNAMIC NATIONWIDE CAMPAIGNS PROMOTIONAL LEAFLETS 50
Slide 51: Focus on the consumer / campaigns
FOCUS ON THE CONSUMER / CAMPAIGNS Focus on eggs and milk, at the beginning of the year 51
Slide 52: Focus on the customer / innovation
FOCUS ON THE CUSTOMER / INNOVATION LAUNCHES RELAUNCHES WEIGHT OF PRIVATE BRAND ON SALES 52
Slide 53: Focus on the consumer / proximity
FOCUS ON THE CONSUMER / PROXIMITY Bodega del Canasto in Leticia (Amazonia) Present in over 370 municipalities First partner-run stores opened, similar to franchising 53
Slide 54: Sponsorships
SPONSORSHIPS To support the participation of the women's national team in the Women’s World Cup, Ara launched a campaign on TV, on social media and in stores with the motto #Creemos (We believe). 4-year partnership 54
Slide 55: Supporting surrounding communities
SUPPORTING SURROUNDING COMMUNITIES offered to Colombian newborns and their mothers Kits included nappies, wipes, micellar water, shampoo and other Bubu Private Brand products 55
Slide 56: Hebe
202 IN REVIEW "> Hebe Jeronimo Martins
Slide 57: Hebe results
RESULTS SALES IN LOCAL CURRENCY EBITDA STORE OPENINGS €469 MILLION MARGIN AT 9.1% (345 STORES IN TOTAL) (30.9% IN EUROS) ONLINE ACCOUNTS LAUNCH OF A FOR 17% MOBILE APP LIKE-FOR-LIKE OF TOTAL SALES IN CZECHIA AND SLOVAKIA OPENING OF TWO FLAGSHIP STORES IN CZECHIA (PRAGUE) 57
Slide 58: Internationalisation and focus on omnichannel sales
INTERNATIONALISATION AND FOCUS ON OMNICHANNEL SALES 58
Slide 59: Internationalisation and focus on omnichannel sales
INTERNATIONALISATION AND FOCUS ON OMNICHANNEL SALES IN AUGUST Application Days 23 October to 15 November 4x more app downloads 59
Slide 60: Focus on online sales
FOCUS ON ONLINE SALES USERS PER MONTH (SITE AND APP) INSTAGRAM FOLLOWERS YOUTUBE FANS FACEBOOK FOLLOWERS TIKTOK FOLLOWERS 60
Slide 61: Focus on the consumer / innovation
FOCUS ON THE CONSUMER / INNOVATION PRIVATE BRAND LAUNCHES (TOTAL: 529) EXCLUSIVE BRAND PRODUCTS 61
Slide 62: Focus on the consumer / campaigns
FOCUS ON THE CONSUMER / CAMPAIGNS 130,000+ prizes 217,000+ participants 72,000+ customers received prizes 62
Slide 63: Focus on the consumer / loyalty programme
FOCUS ON THE CONSUMER/ LOYALTY PROGRAMME Print run: copies per month 63
Slide 64: Other businesses
INESS Jeronimo Martins
Slide 65: Agribusiness farms
AGRIBUSINESS FARMS: MONTE TRIGO CARTAXO MANHENTE
Slide 66: Agribusiness
AGRIBUSINESS All our farms are certified animal welfare approved and for responsible antibiotic use. of by-products of agricultural production included in animal feed. for our livestock is produced of milk produced in by us or by local partners Monte Trigo
Slide 67: Agribusiness
AGRIBUSINESS ANIMAL WELFARE APPROVED CERTIFIED ORGANIC
Slide 68: Agribusiness
AGRIBUSINESS CERTIFIED ANIMAL WELFARE APPROVED AND ANTIBIOTIC-FREE
Slide 69: Agribusiness
AGRIBUSINESS (joint production)
Slide 70: Agribusiness
AGRIBUSINESS (joint production)
Slide 71: Agribusiness
AGRIBUSINESS (joint production) 71
Slide 72: Agribusiness
AGRIBUSINESS IN REVIEW* LITRES OF MILK —~ al MILK FACTORY PRODUCED AT THE el WITH TERRA ALEGRE FACTORY NM International Featured FOR PINGO DOGE { — crtcaaton AND RECHEIO . : — =.
Slide 73: Agribusiness
AGRIBUSINESS HONEY AND Biolégico LEMON BALM = s FORTIFIED MILK (FOCUS ON WELL-BEING) ORGANIC 5
Slide 74: Agribusiness
AGRIBUSINESS Start of works on the support unit (warehouse, office, and packaging room) Estimated production: 1,500 tonnes in 2025 of sea bream and sea bass sold PRODUCED IN MADEIRA, SINES AND MOROCCO 74
Slide 75: Agribusiness
AGRIBUSINESS START OF SALES AT THE MOROCCO UNIT Estimated production: 1,500tonnes A in 2024 Sap ANDFJORD SALMON INNOVATIVE AND SUSTAINABLE SALMON PRODUCTION IN NORWAY & EQUITY INTEREST seaculeure INCREASED T0 25%
Slide 76: Investment
202 ' “ IN REVIEW > INVESTMENT ra “a = Jeronimo Martins
Slide 77: Invested in the year
INVESTMENT INVESTED IN THE YEAR 77
Slide 78: Allocation of investments
9, 379 2023 ALLOCATION OF INVESTMENTS - 1,209.
Slide 79: Analysis of results
2023 IN REVIEW ANALYSIS OF RESULTS
Slide 80: Analysis of results (IFRS 16)
ANALYSIS OF RESULTS excl. f/x (IFRS 16) f/x *Excluding capitalised operating lease liabilities, the Group closed the year with a net cash position of 1.2 billion euros. 80
Slide 81: Analysis of results (IFRS 16)
ANALYSIS OF RESULTS (IFRS 16) 81
Slide 82: Dividend proposal
IN ACCORDANCE WITH THE DIVIDENDS POLICY, THE BOARD OF DIRECTORS WILL RECOMMEND THE GENERAL MEETING THE PAYMENT OF 411.6 MILLION IN DIVIDENDS, CORRESPONDING TO €0.655 PER SHARE (GROSS VALUE). 202 IN REVIEW ">
Slide 83: We operate in a responsible and sustainable manner
ere WE ys IN A RESPONSIBLE\AND SUSTAINABLE MANNER
Slide 84: ESG pillars
PROMOTING RESPECTING GOOD HEALTH THE ENVIRONMENT THROUGH FOOD SUPPORTING SOURCING SURROUNDING RESPONSIBLY COMMUNITIES BEING A BENCHMARK EMPLOYER 84
Slide 85: ESG ratings and indices
50 ESG analysts and investors continuously monitor performance Listed on more than 130 international sustainability indices 85
Slide 86: CDP scores
CDP again awarded the Group the highest score (‘A’) under ‘climate change’. In the ‘water security’ and ‘deforestation’ surveys, the Group achieved leadership level (‘A-’). Also, as regards Fighting deforestation, the Group is the only food retailer in the world to achieve leadership level (‘A-’) in
Slide 87: Promoting good health through food
PROMOTING GOOD HEALTH THROUGH FOOD *includes saturated fat FIRST AND ONLY RETAILER IN PORTUGAL TO ELIMINATE ALL FLAVOUR ENHANCERS AND ARTIFICIAL COLOURING FROM ALL PRIVATE BRAND PRODUCTS 87
Slide 88: Promoting good health through food
PROMOTING GOOD HEALTH THROUGH FOOD 100 recipes, developed together with CUF healthcare professionals and Pingo Doce nutrition experts 88
Slide 89: Respecting the environment
RESPECTING THE ENVIRONMENT per 1,000 euros in sales in absolute terms Settlement of the target to achieve carbon neutrality by 2045 (scope 1 and 2) and by 2050 (scope 3) 89
Slide 90: Respecting the environment
RESPECTING THE ENVIRONMENT 5,622 tonnes of plastic avoided in 2023 (41,869 tonnes since 2011) 90
Slide 91: Respecting the environment
RESPECTING THE ENVIRONMENT Biedronka was the first retailer in Poland to use its own plastic film waste to produce its check-out bags The check-out bags are made with a Pingo Doce and Recheio eliminated plastic from minimum of 80% recycled plastic 8 cleaning wipe references, which are now biodegrada
Slide 92: Respecting the environment
RESPECTING THE ENVIRONMENT Ara kicked off its self-consumption renewable energy plan. Installation of 16 photovoltaic panels. At Biedronka, the number of Pingo Doce and Recheio increased premises with solar photovoltaic the number of stores with solar Production of 1.3 million kWh power production u
Slide 93: Respecting the environment
RESPECTING THE ENVIRONMENT • Food donations: 19,000 + tonnes • Markdown on food products approaching their sell-by date: c. 9,000 tonnes • Use of “ugly” fruit and vegetables and leftovers from operations: c. 16,500 tonnes • Forwarding of food waste for incorporation into animal feed and biological t
Slide 94: Sourcing responsibly
WW y w SOURCING RESPONSIBLY LOCAL SUPPLIERS >90% POLAND >80% PORTUGAL >95% COLOMBIA 379 7
Slide 95: Sourcing responsibly
SOURCING RESPONSIBLY c.200 regional suppliers (c.60 of which family farms) delivered around 120,000 tonnes of fruit and vegetables (36,000 more than in 2022). Bolstered relationships with local fruit and vegetable producers, c.85% of these products are from national producers. 14,000+ tonnes of cher
Slide 96: Sourcing responsibly
SOURCING RESPONSIBLY Payment terms remained We continued to make early We continued the at a maximum of 21 days payment to small and initiative that enables for farmers with a turnover medium-sized perishables suppliers to receive early of less than 100 million farmers who are members of the payment
Slide 97: Sourcing responsibly
SOURCING RESPONSIBLY Launch of 440 certified sustainable Private Brand perishable products and/or packaging 97
Slide 98: Supporting surrounding communities
SUPPORTING SURROUNDING COMMUNITIES 98
Slide 99: Being a benchmark employer
BEING A BENCHMARK EMPLOYER Total number in bonuses and other of employees recognition measures 3,285+ vs 2022 (8% more than in 2022) In internal social responsibility and wellbeing measures Humpact ranked the Group as the company with the best social performance out of the 43 companies analysed in t
Slide 100: Being a benchmark employer
BEING A BENCHMARK EMPLOYER PORTUGAL AND POLAND EDUCATION HEALTH FAMILY WELLBEING supported in the Online Study Hall in emergency and/or vulnerable situations programme in Portugal supported through the Social Emergency (c.32% more invested than in 2022) Fund and Możesz Liczyć (You Can Count on Biedr
Slide 101: Being a benchmark employer
BEING A BENCHMARK EMPLOYER PHYSICAL WELLBEING MENTAL WELLBEING CLÍNICA JM & WELLBEING CENTRE general medicine consultations, sleep apnoea and smart ageing appointments, nursing services, nutrition consultations, alternative therapies, physical therapy, for 2,570 employees and their gym and other ser
Slide 102: Being a benchmark employer
BEING A BENCHMARK EMPLOYER (+2.1% vs 2022) Hybrid model (11.7% of total employees) (46.7% of total employees) 102
Slide 103: Outlook for 2024
OUTLOOK FOR 202-4
Slide 104: Planned openings and refurbishments
Planned openings: 130-150 Biedronka stores (net additions) c.10 Pingo Doce stores c.50 Ara stores c.30 Hebe stores Planned refurbishments: 300+ Biedronka stores 60-80 Pingo Doce stores 104
Slide 105: 2023 Market Release
6 March 2024 2023 MARKET RELEASE HERE