The Colombian Financial Superintendency approved the transfer of 83.26% of the outstanding common shares of Éxito, currently owned by GPA (Grupo Pao de Azucar), to the programs of ADRs in the United States and BDRs in Brazil.

08 of August of 2023

With this authorization, Éxito's ADRs and BDRs are expected to begin trading on their respective stock exchanges in New York and Brazil on August 23, 2023.

This project seeks to increase the liquidity of the company's stock, substantially expanding its shareholder base from around 4,800 shareholders to more than 50,000 and its float from 3.48% to approximately 53%.

Éxito's shares (through the respective depositary receipts) will be registered in the U.S. and Brazilian markets, in addition to the Colombian stock market, making it the only company in the country with participation in these three markets.

Today's approval by the Colombian Financial Superintendency marks another step in the project announced by Grupo Éxito on September 5, 2022, which contemplates a capital reduction of Companhia Brasileira de Distribuição (GPA), which would take place in Brazil, through which GPA would distribute approximately 83,26% of Éxito's capital to its more than 50,000 shareholders, who would also become shareholders of Éxito directly through Brazilian Depositary Receipts Level II (BDRs Level II) or American Depositary Receipts (ADRs Level II).

Today, the Colombian Financial Superintendency approved the transfer of 83,86% of the outstanding common shares of Éxito that will be subject to the capital reduction of GPA. Through this capital reduction, GPA will distribute 1,080,556,276 common shares of Éxito in the form of Brazilian Depositary Receipts Level II (each represented by 4 common shares of Éxito) and American Depositary Receipts Level II (each represented by 8 common shares of Éxito) to GPA's shareholders, pro rata and without consideration. GPA will retain approximately 13% of the outstanding shares of Éxito common stock.

It is estimated that Éxito's BDRs and ADRs will begin trading on their respective stock exchanges on August 23, 2023.

On April 4, the Brazilian Securities and Exchange Commission (CVM) and the Brazilian Stock Exchange B3 S.A. (B3) approved the application for listing and admission to trading of Éxito's Level II BDRs in the Novo Mercado segment of B3 in Brazil, and on July 25, the US Securities and Exchange Commission (SEC) declared effective the Registration Statement (Form 20-F) of American Depositary Receipts Level II (ADRs II) made by Grupo Éxito. This project seeks to increase the liquidity of the company's stock, substantially expanding its shareholder base from around 4,800 shareholders to more than 50,000 and its float from approximately 3.48% to approximately 53%. The Éxito share (through the respective depositary receipts) will be registered in the United States and Brazilian markets, in addition to the Colombian stock market, making it the only company in the country with participation in these three markets.

In the following link is attached the relevant information published today by Grupo Éxito, which contains in greater detail the decisions adopted and the steps taken to date.