1Q19 1 INVESTMENT HIGHLIGHTS OUR STRATEGY 2 WHY CENCOSUD? - PowerPoint PPT Presentation

Corporate Presentation 1Q19 1

INVESTMENT HIGHLIGHTS OUR STRATEGY 2

WHY CENCOSUD? UNPARALLELED GROWTH TRACK LEADING SOUTH AMERICAN PREMIER BRAND PORTFOLIO WITH 2 1 3 RECORD HOLDING VALUABLE 1 2 INTEGRATED MULTI-FORMAT STRATEGY 3 MULTI-FORMAT RETAILER 1 LAND BANK  Recognized brand portfolio  6.0 mm sqm of land bank to fuel  5 Business Divisions & 5 countries future growth across the region  Leadership positions across the region TOTAL SELLING SPACE (‘000 sqm)  Market Cap US$ 5,0 bn 2  131,613 employees 3.629 4.238 4.387 4.417 4.418 4.401 4.292 4.279  1,114 retail stores + 54 shopping centers  3.6 mm sqm of retail space + 701 thousand sqm of shopping centers GLA to third parties 2012 2013 2014 2015 2016 2017 2018 2019 LISTED ON BCS 3 PRIVILEDGED POSITION TO BENEFIT 4 SEASONED MANAGEMENT TEAM 6 5 RATED IG BY MOODY’S AND FITCH 4 6 5 FROM IMPROVED ECONOMIC ENVIRONMENT  Sound Corporate Governance with  Market leadership positions across  Listed on BCS (2004) SOX standards: the region  46.3% Free Float  9 Seasoned Board Members  Peru:  Daily Avg. Trading Volume: US$ 7.4  3 Paulmann Family members  133,510 sqm of land bank mm  2 Independent members  La Molina Project  Rated IG by Moody’s and Fitch  Board of Directors Committee:  Argentina:  Member of the EME DJSI  Total of 3 members; 2  3.1 mm sqm land bank independent 1 Figures as of March 2019 2 Market Cap calculated as of December 2018 using the stock closing price of CLP 1,178 and constant Exchange rate of CLP 678.53 per US$ 3 BCS stands for Bolsa de Comercio de Santiago. Figures as of December 2018 using close stock price CLP 1,178 and a constant Exchange rate of CLP 678.53 per US$. 3

CENCOSUD: A PAN-REGIONAL MARKET LEADER JV COLOMBIA 3 RD SUPERMARKET 2 ND HOME IMPROVEMENT JV BRAZIL JV PERU 4 TH SUPERMARKET Leadership position in Northeast, 2 ND SUPERMARKET Minas Gerais, and Río de Janeiro 4 TH DEPARMENT STORES JV CHILE ARGENTINA 2 ND SUPERMARKET 2 ND SUPERMARKETS 2 ND HOME IMPROVEMENT 1 ST HOME IMPROVEMENT 2 ND SHOPPING CENTERS 1 ST SHOPPING CENTERS 2 ND DEPARTMENT STORES Note; Financial Services provided through a Joint Venture in Chile (Scotiabank), Brazil (Bradesco) and Colombia (Colpatria). As of March 2019, the JV agreement for the conjoint development of Financial Services in Peru with Scotiabank was approved 4

REGIONAL MULTI-FORMAT MARKET LEADER, DIVERSIFIED BY BUSINESS UNIT AND GEOGRAPHY ADJ. EBITDA BREAKDOWN BY GEOGRAPHY (LTM as of Mar 2019 ) REVENUE BREAKDOWN BY GEOGRAPHY (LTM as of Mar 2019) US$1,133 mm 1,2,3 (7.8% Adjusted EBITDA margin) US$ 14,546 mm 3 3% 8% 22% 11% 47% 1% 53% 14% 21% 20% CHILE ARGENTINA BRAZIL PERU COLOMBIA • 249 supermarkets • 284 supermarkets • • 94 supermarkets 203 supermarkets • 96 supermarkets • 36 home improvement stores • 51 home improvement stores • • 3 different regions 11 department stores • 10 home improvement stores • 80 department stores • 22 shopping centers • • F.S.: JV with Bradesco 4 shopping centers • 2 shopping centers • 33 shopping centers • Financial Services • Financial Services • F.S.: JV with Colpatria • F.S.: JV with Scotiabank Note: Figures converted to US$ using a constant exchange rate of CLP 660.46 per US$ 1 Adjusted EBITDA represents EBITDA plus exchange differences and gains (losses) from indexation units, minus revaluation of assets. These figures include CLP 92.475 mm of extraordinary gains from the sale of 51% of Financial Service in Peru. 2. Figures include new IFRS16 accounting rule of operating leases as of January 1 2019. 3 Figures exclude the adjustment of hyperinflation in Argentina (IAS 29). Including the adjustment, revenues for the LTM period were US$ 14.123 mn and Adjusted EBITDA was US$ 1,077 mn, using 5 5 end of period exchange rate of CLP 678,53 per US$. Argentina represented 19.3% of total revenues and 19.2% of total Adjusted EBITDA.

STRONG FOOD RETAIL PLAYER; A BUSINESS MORE RESILIENT TO ECONOMIC DOWNTURNS ADJUSTED EBITDA BY BUSINESS (LTM as of Ma 2019) 1 REVENUE BREAKDOWN BY BUSINESS (LTM as of Mar 2019) 1,4 US$ 1.113 mm (7.8% Adjusted EBITDA margin) 2,3,4 US$ 14,546 mm Retail accounted for 63% 2% Retail accounted for 15% 12% of Adjusted EBITDA 95% of Revenues US$ 558mm 5% US$10,311mm 5.4% mg 42% 12% US$185mm US$1,743mm 10.6% mg 16% 3% 71% US$53mm US$1,742mm 3.0% mg Complementary Complementary Business Business US$373mm US$293mm 22% 78.4% mg US$365mm US$168mm 45.9% mg Financial Services Home Improvement Department Stores Supermarkets Shopping Centers Note: Figures converted to US$ using a constant exchange rate of CLP 660,46 per US$ 1 Graph excludes the “Others” segment, which contributes US$ 10 mm in revenues and – US$ 120 mm in Adj. EBITDA. Adj. EBITDA represents EBITDA plus exchange differences and gains (losses) from indexation units, minus revaluation of assets. 2 Revenues and Adjusted EBITDA from Shopping Centers don’t include related party transactions 3 Mg = Adjusted EBITDA margin 6 4 Figures exclude the adjustment of hyperinflation in Argentina (IAS 29). Including the adjustment, revenues for the LTM period were US$ 14,123 mn and Adjusted EBITDA was US$ 1,077 mn, 6 using end of period exchange rate of CLP 678.53 per US$.

PROVEN GROWTH TRACK RECORD • Total selling space grew from 2.8 mm sqm (CAGR: 4.6%) in 2010 to 4.3 mm sqm in 2019. Consolidation and synergies • Revenues increased from US$6.1 bn in (CAGR: IPO 2010 to US$9.6 bn in 2019 5.0%) NYSE Internationalization process Peru Peru Delisting NYSE Consolidation in the Chilean market 16,5 16,6 15,8 15,7 15,7 14,8 14,5 IPO 13,9 BCS 1 11,5 9,4 9,3 8,3 Opening of first supermarkets 5,7 4,7 3,8 2,1 1,4 1,0 1993 1976 1988 1982 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 LTM Marzo 1 Revenues denominated in US$, calculated with an exchange rate of CLP 660.46 per US$ 2019 7 2 BCS stands for Bolsa de Comercio de Santiago (Santiago Stock Exchange)

STRONG LIQUIDITY POSITION AND COMFORTABLE AMORTIZATION SCHEDULE DEBT BY CURRENCY (AFTER CCS) 3 ● Cencosud announced the IPO for its Shopping Centers division in Chile, Peru and Colombia. Proceeds (USD 1 bn) will be use to pay-off Otras Latam; Otras Latam debt. 7% 8% ● Investment Grade rating since 2011 USD USD 21% 18% ● Fitch Ratings: BBB- (stable) CLP + UF ● Moody’s: 73% Baa3 (negative) CLP + UF 1Q19 1Q18 73% DEBT AMORTIZATION SCHEDULE (US$ MM) 1,2 NET FINANCIAL DEBT EVOLUTION 5,4 1.045 4,4 5,0 3,9 3,8 3,7 4,6 Deuda 3,6 3,5 756 3,3 715 Financiera Neta 3,9 3,7 613 3,7 (USD mm) 3,4 3,3 3,2 350 NFD/EBITDA 224 Ajustado (veces) 203 190 186 57 53 41 35 15 2012 2013 2014 2015 2016 2017 2018 03.2019 19 20 21 22 23 24 25 26 27 28 29 30 41 45 1 Debt denominated in US$ using end of period exchange rate of 31 March 2018 8 2 Amortization schedule is presented net off gains/losses from mark to market of derivatives, overdrafts and Comex debt (excluding forwards). 8 3 Debt by currency after cross-currency swaps.

EXPERIENCED MANAGEMENT TEAM CORPORATE GOVERNANCE AND BOARD OF DIRECTORS MANAGEMENT TEAM 2 • Sound corporate governance SOX Standards: • 8 seasoned Board members: CEO • 3 Paulmann Family members • 2 Independent members Horst Dag • Board of Directors’ Committee (CMF 1 ): Sebastián Conde Matias Videla Antonio Ureta 8 6 13 17 Paulmann K. Loebenstein • Roberto Philipps • Richard Büchi (Independent) Peter Heike Paulmann K. • Mario Valcarce (Independent) Paulmann K. German Cerrato Ricardo Bennett TBD Patricio Rivas 12 22 16 22 Roberto Julio Moura Philipps 24 Mario Jorge Pérez Valcarce Independent Years in members # Cencosud Alejandro Hans Eben CEO: Chief Executive Officer. HR: Human Resources. CFO: Chief Financial Officer.. SM: Pérez Supermarkets Manager; DS: Department Stores Manager. FS: Financial Services. SC: Corporate Shopping Centers Manager. Legal: General Counsel. 2. Mr. Gebhardt and Mr. Conde have been for less than a year in Cencosud. Home Improvement managemer turned in his resignation effective as of January 31, 2019. His replacement is yet to be determined. . 9

INVESTMENT HIGHLIGHTS OUR STRATEGY 10

THE THREE PILLARS OF OUR STRATEGY EFFICIENCY AND GROWTH TRENDS 1 2 3 PRODUCTIVITY  Digital Transformation and Omni-  Process Standardization and  Organic Growth channel Centralization • Remodeling • “ Whatever you want, whenever you • SAP Unification • Omni-channel want, however you want, wherever • Robotic Process Automation you want” • New projects • CSC: Continue Growing • IT & Logistics Investments  Strategic Planning  Health & Wellness  Financial Strengthening • Area in charge of • Organic • Commitment with IG coordinating and • “Free of” • materializing planning for IPO Shopping Centers each business division • Health • Non-core assets sale  Procurement  Strategic Alliances  Big Data & Analytics • JVs with Scotiabank, Colpatria and  Private Labels and Regional • Close to the business Bradesco Synergies • Regional team • Sustainable relationship with  Sustainability • Efficiency, process and suppliers  Talent people STRONG VALUES 11

INVESTMENT HIGHLIGHTS OUR STRATEGY LOOKING AHEAD 12