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Q3 2025 Sales October 22nd, 2025
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October 22, 2025Q3 2025 SALES 2 Q1 2024: Solid execution of strategic roadmap Group sales up +2.1% LFL in Q3 2025, with growth in France, Europe and Latam Food sales in Q3 reflect positive dynamics in France (1) and Spain, in line with Q2 • France(1) food LFL: +2.2% in Q3, after +2.3% in Q2 • Spain food LFL: +2.4% in Q3, after +2.9% in Q2 French hypermarkets(1) confirm positive momentum after 2 years of price investments and improved customer satisfaction • NPS® up +3pts • Food LFL +1.7% in Q3, after +1.2% in Q2 • Stable market share in Q3 Ongoing progress of the strategic review €1.2bn cost savings target in 2025 confirmed FY 2025 financial targets confirmed: Slight growth in EBITDA, Recurring Operating Income and Net FCF (1) Excluding Cora & Match, legacy perimeter Q3 2025: Key highlights
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October 22, 2025Q3 2025 SALES 3 Q3 2024 Gross sales LFL Expansion & M&A Petrol Calendar Forex Q3 2025 Gross sales (1.5)% +2.1% (0.1)% (2.8)% €22,962m €22,614m (0.6)% (0.2)% Q3 total sales
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October 22, 2025Q3 2025 SALES 4 France Hypermarkets Supermarkets Other formats Q3 Sales inc. VAT -0.2% -1.5% -0.6% +4.4%Variation vs. Q3 24 +4.7%+0.7%-0.9%+0.7%LFL ex. petrol ex. calendar Solid market trends in line with Q2, notably in September (+2.0% according to Worldpanel by Numerator P10) LFL sales up +0.7% (+1.6% excluding Cora & Match) , with food sales at +1.5% LFL and positive volumes; strong performance in market share in P10 (Worldpanel by Numerator) with a +30bps gain Hypermarkets (excl. Cora & Match) performing well • LFL of +0.5% similar to Q2 (+0.6%) • Food LFL accelerating: +1.7% in Q3 after +1.2% in Q2 • Stable market share in Q3 Continued strong performance in convenience format despite high comps over summer due to the Paris 2024 Olympic Games; 75 stores opened in Q3 France: Good momentum is confirmed €11,643m €5,641m €3,834m €2,168m +1.6% +0.5% +1.0% +4.7%LFL Ex- Cora & Match
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October 22, 2025Q3 2025 SALES Gradual increase in NPS® & number of tickets 5 Cora commercial transformation completed Aligning prices to Carrefour’s This slide is an editable slide with all your needs. Adapt it with your needs. Improved price image- Banner conversion to Carrefour Improved brand awareness- Private label assortment rolled out High quality assortment offering best value appreciated by customers - Carrefour promotional strategy applied Increase in share of promotions as % of sales- Carrefour loyalty program “Le Club Carrefour” active +1.7m program members in ex- Cora stores- Private label penetration up by 8pts of sales to 28% in September Key commercial transformation actions… … leading to Regular promotional agenda vs “Big Volume” events at Cora -
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October 22, 2025Q3 2025 SALES 6 Spain : Market remaining dynamic. Sound momentum driven by food sales (+2.4% LFL) holding on well, in line with Q2 (+2.9% LFL); further improvement in price positioning driving NPS® upwards (+2pts) Belgium : Ongoing positive commercial dynamics supporting LFL growth with an increase in volumes. Competitive market Romania : Slightly positive performance despite lower consumer confidence following austerity measures implemented from July 2025 Poland : LFL still penalized by a highly competitive environment. Continued price investments driving strong increase in NPS® (+6pts) Europe Spain Belgium Romania Poland Q3 Sales inc. VAT -0.7% -2.6% -1.5%Variation vs. Q3 24(1) -1.3%+2.1%+1.0%LFL ex. petrol ex. calendar +0.5% +1.3% -2.5% +0.2% (1) At current exchange rates Europe: Positive performance driven by Spain and Belgium €5,448m €3,036m €1,069m €773m €569m
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October 22, 2025Q3 2025 SALES 7 €129m Brazil : Sales up +1.1% LFL • Atacadão: LFL sales up +1.3%, with LFL market share gains in volume and value, in a context of general decrease in volumes across the Brazilian Cash & Carry market since May 2025 • Carrefour Retail: Strong performance of hypermarkets (+3.3% LFL) and supermarkets (+4.0% LFL) driven by volume growth; strong increase in NPS®; reduced focus on non-food e-commerce to prioritize profitability • Sam’s Club: LFL sales up +0.8% with an improved trend in September • E-commerce: Solid GMV growth (+36%) driven by food up +62% • Financial services: Credit portfolio up +17%; billings up +10% in Q3 Argentina : Continued market share gains in both value and volume, sustained by price leadership. Market experiencing negative volumes on the back of pressure on purchasing power (1) At current exchange rates; (2) Pre-IAS 29 (hyperinflation and foreign exchange) Latin America Brazil Atacadão Carrefour Retail Sam's Club Argentina Q3 Sales inc. VAT -5.0% -1.3% -9.0% -14.7%Variation vs. Q3 24(1) +26.6%+0.1%+1.3%+5.5%LFL ex. petrol ex. calendar -3.0% +1.1% (2) Latin America: Solid growth driven by sound momentum in Brazil -2.1% +0.8% LATAM: Good commercial performance in a challenging market €5,523m €4,701m €3,460m €956m €285m €823m
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October 22, 2025Q3 2025 SALES 8 Key takeaways 3 Further progress on strategic review (Sale of Italy, Concordis, restructuring of Brazilian debt, Cora & Match integration) 1 Sustained momentum in France and Spain, with dynamic food performance, in line with Q2 Good relative commercial performance in Brazil despite continued pressure on purchasing power driven by high interest rates impacting volumes in the C&C market 2 4 FY 2025 cost savings and financial targets confirmed Key takeaways
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APPENDIX
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October 22, 2025Q3 2025 SALES 10 CSR Q3 achievements Diversity & inclusion In October 2025, Carrefour launched an ambitious action plan in partnership with the association Faire face au harcèlement scolaire (Confronting Bullying in Schools) to raise awareness, support concerned employees, and offer support to the association Climate Carrefour promoted a wide range of affordable and tasty plant-based products during a dedicated week Circular economy Carrefour Spain has been awarded the Aenor label for its efforts to combat food waste Carrefour has prevented the waste of 20 million Too Good To Go(2) baskets in France, Spain, Poland, Italy and Belgium (1) This assessment recognizes the Group's balanced performance across the three environmental, social and governance pillars as well as the transparency demonstrated in its sustainability report; (2) Since 2018, Carrefour has been working with Too Good To Go, an app that saves unsold food that is still perfectly edible through surprise baskets Carrefour has joined Réseau Vrac et Réemploi (Bulk and Reuse Network) to accelerate cooperation within the packaging reuse sector and its transition to scale Carrefour topped the CSR Retail Index®(1) ranking created by ESSEC Business School and BDO
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October 22, 2025Q3 2025 SALES 11 Gross sales (in €m) LFL ex. petrol ex. calendar Organic growth ex. petrol ex. calendar Change at current exch. rates inc. petrol Change at constant exch. rates inc. petrol France 11,643 +0.7% -0.3% -0.2% -0.2% Hypermarkets 5,641 -0.9% -1.9% -1.5% -1.5% Supermarkets 3,834 +0.7% -0.3% -0.6% -0.6% Others, inc. convenience 2,168 +4.7% +4.0% +4.4% +4.4% Other European countries 5,448 +1.0% +0.1% -0.7% -0.5% Spain 3,036 +1.3% +1.4% +0.5% +0.5% Belgium 1,069 +2.1% -1.5% -2.6% -2.6% Romania 773 +0.2% -0.5% -2.5% -0.6% Poland 569 -1.3% -2.0% -1.5% -2.1% Latin America (pre-IAS 29) 5,523 +5.5% +5.6% -5.0% +5.7% Brazil 4,701 +1.1% +1.0% -3.0% +1.3% Argentina (pre-IAS 29) 823 +26.6% +28.2% -14.7% +28.1% Group total (pre-IAS 29) 22,614 +2.1% +1.4% -1.5% +1.2% IAS 29 impact -151 Group total (post-IAS 29) 22,463 Q3 2024 gross salesQ3 2025 gross sales
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October 22, 2025Q3 2025 SALES 12 Calendar Petrol Forex France -0.1% +0.1% - Hypermarkets -0.0% +0.1% - Supermarkets -0.1% -0.2% - Others, inc. convenience -0.5% +0.8% - Other European countries -0.4% -0.2% -0.2% Spain -0.4% -0.5% - Belgium -1.1% - - Romania -0.1% - -1.9% Poland -0.1% 0.0% +0.6% Latin America 0.0% +0.1% -10.7% Brazil +0.1% +0.2% -4.3% Argentina -0.0% - -42.9% Group total -0.2% -0.1% -2.8% Q3 2025 technical effects
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October 22, 2025Q3 2025 SALES 13 Gross sales (in €m) LFL ex. petrol ex. calendar Organic growth ex. petrol ex. calendar Change at current exch. rates inc. petrol Change at constant exch. rates inc. petrol France 34,111 +0.4% -0.1% +7.4% +7.4% Hypermarkets 16,761 -1.3% -2.2% +10.0% +10.0% Supermarkets 11,227 +0.1% -0.3% +4.9% +4.9% Others, inc. convenience 6,123 +4.8% +5.7% +5.0% +5.0% Other European countries 15 876 +1.4% +1.0% +0.3% +0.3% Spain 8 623 +1.9% +2.5% +1.3% +1.3% Belgium 3,238 +0.9% -1.5% -2.2% -2.2% Romania 2,291 +1.9% +1.8% +0.5% +1.5% Poland 1,724 -1.2% -1.9% -0.1% -1.6% Latin America (pre-IAS 29) 17,206 +9.1% +9.5% -5.3% +9.2% Brazil 14,393 +3.6% +3.8% -6.8% +3.6% Argentina (pre-IAS 29) 2,813 +37.8% +40.1% +3.6% +39.7% Group total (pre-IAS 29) 67 193 +3.3% +3.1% +2.2% +6.2% IAS 29 impact -357 Group total (post-IAS 29) 66,836 Q3 2024 gross sales9m 2025 gross sales
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October 22, 2025Q3 2025 SALES 14 Calendar Petrol Forex France -0.5% -0.8% - Hypermarkets -0.4% -0.3% - Supermarkets -0.4% -2.1% - Others, inc. convenience -0.8% +0.1% - Other European countries -0.5% -0.3% 0.0% Spain -0.5% -0.7% - Belgium -0.7% - - Romania -0.3% - -1.0% Poland -0.3% +0.6% +1.5% Latin America -0.5% +0.1% -14.5% Brazil -0.4% +0.3% -10.5% Argentina -0.4% - -36.1% Group total -0.5% -0.4% -4.0% 9m 2025 technical effects
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October 22, 2025Q3 2025 SALES 15 (1) Africa, Middle-East, Dominican Republic and Asia (#) Hypermarkets Supermarkets Convenience Cash & Carry Soft discount Sam’s Club Total France 325 1,165 5,043 157 37 - 6,727 Other European countries 422 1,813 2,541 - 106 - 4,882 Spain 204 162 1,130 - 71 - 1,567 Belgium 40 346 319 - - - 705 Romania 55 188 187 - 28 - 458 Poland 95 145 512 - 7 - 759 Others 28 972 393 - - - 1,393 Latin America 188 105 660 418 - 58 1,429 Brazil 108 27 143 384 - 58 720 Argentina 80 78 517 34 - - 709 Others(1) 210 686 374 61 - - 1,331 Total 1,145 3,769 8,618 636 143 58 14,369 Stores under banners at end Q3 2025
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DISCLAIMER This presentation contains both historical and forward-looking statements. These forward- looking statements are based on Carrefour management's current views and assumptions. Such statements are not guarantees of future performance of the Group. 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 Autorité des Marchés Financiers as part of the regulated information disclosure requirements and available on Carrefour's website (www.carrefour.com), and in particular the Universal Registration Document. These documents are also available in the English language on the company's website. Investors may obtain a copy of these documents from Carrefour free of charge. Carrefour does not assume any obligation to update or revise any of these forward-looking statements in the future.