Presentation of the Company Financial Statements Carrefour group 3 as of December 31, 2015 229 The history of the Carrefour group 1.1 4 Balance sheet at December 31, 2015 6.1 230 Detailed presentation of the Carrefour group 1.2 8 Income statement as of December 31, 2015 6.2 231 Carrefour in 2015 1.3 14 Statement of cash flows 6.3 232 Notes to the Company Financial Statements 6.4 233 Statutory Auditors' report on the annual 6.5 Financial Statements 250 Social responsibility 21 CSR at Carrefour 2.1 22 Carrefour’s CSR performance 2.2 29 Information about the Company and the capital 253 Action programs 2.3 33 Carrefour’s non-financial results 2.4 75 Information about the Company 7.1 254 Information on the capital 7.2 257 Corporate governance 85 Shareholders 7.3 261 Stock market information 7.4 264 Corporate Governance Code 3.1 86 Composition and operation of the Board of Directors 3.2 86 Executive Management 3.3 104 Shareholders’ Meeting 267 Compensation and benefits granted to 3.4 executive officers 105 Agenda 8.1 268 Risk management 3.5 115 Presentation of the resolutions 8.2 269 Internal control 3.6 124 Statutory Auditors' special reports 8.3 282 Statutory Auditors’ report on the report prepared by 3.7 the Chairman of the Board of Directors 132 Additional information 289 Publicly available documents 9.1 290 Management’s discussion and analysis as of December 31, 2015 133 Persons responsible for the Registration Document 9.2 and annual financial report 290 Certification by the persons responsible for the 9.3 Registration Document and annual financial report 290 Consolidated sales and earnings performance 4.1 134 Persons responsible for auditing the Financial 9.4 Statements and fees 291 Group financial position 4.2 139 Outlook for 2016 4.3 142 Information included by reference 9.5 293 Other information 4.4 143 Registration Document concordance table 9.6 294 First quarter 2016 sales 4.5 145 Annual financial report concordance table 9.7 297 Parent company financial review 4.6 148 Management report concordance table 9.8 298 Consolidated Financial Statements as of December 31, 2015 151 Consolidated income statement 5.1 152 Consolidated statement of comprehensive income 5.2 153 Consolidated statement of financial position 5.3 154 Consolidated statement of cash flows 5.4 156 Consolidated statement of changes 5.5 in shareholders’ equity 158 Notes to the Consolidated Financial Statements 5.6 159 Statutory Auditors’ report on the Consolidated 5.7 Financial Statements 226