Carrefour S.A.

The role of the administrative, management and supervisory bodies

Reference: page 59.

At December 31, 2025, the Board of Directors had 12 members (excluding the two Directors representing employees), of whom "six or 50% ... were women and 67% ... were independent" and "Three of the Directors were of foreign nationality." Four committees are chaired by Independent Directors.

The Board has five specialised committees: the Audit Committee, the Compensation Committee, the Governance Committee, the CSR Committee, and the Strategic Committee. The CSR Committee "oversees the Group's sustainability performance and sets its goals" and in 2025 "focused particularly on the topic of health, having been centred on the CSRD, regulations on imported deforestation, and biodiversity in 2024." It also "oversees the double materiality assessment."

The Audit Committee "oversees the reliability of the data reporting and associated internal control processes."

Of the 13 Board members excluding employee representatives, "11 have executive management experience, 10 have governance experience, 9 have financial expertise, 11 have international experience, 7 have expertise in CSR." The Group Executive Committee had 14 members including four women (29%) at the date of the statement, up from one woman (7%) at its creation.

Information provided to and sustainability matters addressed by the administrative, management and supervisory bodies

Reference: page 60.

"In 2025, the Group and country CSR and Food Transition Index committees addressed all impacts, risks and opportunities relating to the Group's priorities, as defined in the CSR and Food Transition Index. The Food Transition Rules Committee specifically examined all impacts, risks and opportunities concerning suppliers and goods marketed by the Group."

Within the Board, the CSR Committee and Audit Committee are jointly responsible for overseeing the Sustainability Statement, and Board members "receive CSRD training during joint sessions of the Audit and CSR Committees." A CSRD and Duty of Care Committee within the Executive Committee "validates the Group's double materiality assessment" and allocates roles across the business lines, with an "owner" appointed in each business line for reporting and action-plan delivery.

Integration of sustainability-related performance in incentive schemes

Reference: page 60; page 96.

Under the 2025 compensation policy for the Chairman and CEO, "20% of the annual variable compensation of the executive company officer is linked to the results of the CSR and Food Transition Index," and "25% of the variable LTIP compensation ... is dependent on the achievement of three criteria ... sensitive materials, (ii) greenhouse gas emissions and (iii) supplier engagement."

"Since 2019, the Group's performance in achieving these objectives has been incorporated into the executive compensation criteria" for both the LTIP and the annual variable compensation of the Chairman and CEO, and "since 2021, the CSR index has been integrated into the variable compensation of executives in integrated countries."

Separately, one of the Group's long-term incentive plans ties 25% of its compensation criteria to Scope 1 & 2 emissions reduction, Food Transition Pact supplier participation and food-transition rule adoption; of the roughly 707 employees who benefited from this plan in 2025, "nearly 80% were from outside the Group's senior management community."

Statement on due diligence

Reference: page 72 (Table 1: Statement on due diligence).

Carrefour maps the core elements of due diligence to sections of its Sustainability Statement: embedding due diligence in governance/strategy/business model is covered by GOV-2, GOV-3 and SBM-3; stakeholder engagement by GOV-2, IRO-1 and SBM-2 plus the topical ESRSs; identifying and assessing negative impacts by IRO-1 and SBM-3; taking action by the MDR-P/MDR-A policies and actions of each topical standard (E1-E5, S1-S4, G1); and tracking and communicating effectiveness by MDR-M/MDR-T metrics and targets sections.

"Carrefour uses analysis and dialogue tools to identify material issues, and define its policies and action plans while taking a continuous improvement approach. This approach also forms part of its duty of care," aligning CSRD and the Group's statutory duty-of-care obligations under the French duty-of-care law (Section 2.2 Duty of Care Plan).

Risk management and internal controls over sustainability reporting

Reference: pages 61-62.

The approach is documented through "reporting manuals drawn up by the Group CSR department," RACI procedures assigning a reporting coordinator per country, and "control points on the information reported," organised in three tiers: "controls carried out by business-line contributors (completeness and accuracy)"; "controls carried out by the country-level reporting coordinators (completeness and consistency)"; and "controls carried out by the Group's CSR department during the consolidation process (consistency)."

Environmental data flows through the EPM Cloud application (used since 2022, in conjunction with the Group's financial-consolidation tool) with automatic consistency checks; social data is checked locally before a second-level review by Group Human Resources. "In order to guarantee the reliability of the qualitative data ... the leadership teams of the Group's business lines carry out a detailed review of the policies, targets and action plans," which "is formally documented."

Strategy, business model and value chain

Reference: page 6 (incorporated by reference); page 39.

"Carrefour is one of the world's leading food retailers thanks to its powerful multi-format and omni-channel network. The Group's banners welcome 80 million customer households annually across its 15,719 stores and e-commerce sites (as of year-end 2025)." The Group "has almost 300,000 employees in seven countries (France, Spain, Belgium, Romania, Poland, Brazil and Argentina)," and reported "91,484 million euros in gross sales in 2025, an increase of 2.8% like-for-like."

The Group's "Digital Retail Company" model, launched in 2021, is built on e-commerce growth, Data & Retail Media (the Unlimitail joint venture with Publicis, 35 partners in 21 countries), digitalisation of financial services, and digital-driven transformation of stores. Own-brand products reached 38% of food sales in 2025, and the Group opened 632 new convenience stores across France and Europe during the year.

Interests and views of stakeholders

Reference: page 68.

Stakeholder engagement rests on three principles: "transparent goals with stakeholders supported at the highest level of the organisation," with 17 targets tracked in the CSR and Food Transition Index; "consultation and listening to stakeholders" through specialist-organisation dialogue, investor communication and engagement with "internal teams and employee representatives ... within the framework of the worldwide agreement signed with UNI Global Union"; and "transformation of market norms and standards" through trade-body participation (PERIFEM, FCD, CGF, ECR) and cooperative initiatives on packaging and plant-based proteins.

Results of the 2025 double materiality assessment were "presented and discussed at the Group's European Works Council meeting on October 16, 2025." The Supplier Ethics Charter, forming part of all purchase contracts, is described as the main channel for engaging direct suppliers.

Material impacts, risks and opportunities and their interaction with strategy and business model

Reference: pages 74-75.

"The material IROs are presented in the list of material impacts, risks and opportunities tables in each section of the report, including their position in the value chain." The double materiality assessment identified "34 issues" in 2025, streamlined from the prior year "to make the Sustainability Statement's disclosures less complex."

"For all management priorities, Carrefour is setting up a monitoring system to strengthen governance, define policies, objectives, action plans and associated resources, and performance metrics." Updates to the 2025 IRO scoring took into account "the latest developments and strategic changes within the Group, including sales and acquisitions (for example, in 2025 the acquisition of Cora and Match in France and the sale of the Italy BU were taken into account)."

Description of the processes to identify and assess material impacts, risks and opportunities

Reference: pages 73-74.

"Several workshops were held to define the 34 issues resulting from the double materiality assessment, taking into account the Group's risk universe and duty of care risk map." The assessment was reviewed successively by the Group Risk Committee, the CSRD and Duty of Care Committee, and the Audit and CSR Committees of the Board, which give final approval.

Financial materiality was rated by Carrefour's finance/CSR teams and business experts using the same grid as the Risk department (severity, frequency); impact materiality was assessed with an external consultancy using external databases and scientific reports (scale, irremediable character, scope, frequency). Time horizons are short term (year in progress), medium term (three to five years) and long term (more than five years), applied across "upstream, own operations, franchises and downstream."

Disclosure requirements in ESRS covered by the undertaking's sustainability statement

Reference: pages 74-75; Appendix 1 (pages 240-246).

"By rating all IROs, it was possible to identify those that were material for the Group and as such to define the matters related to those IROs that are accordingly material for the Group." Appendix 1, "Disclosure Requirements to which Carrefour is Subject," maps each disclosure requirement to the specific subsection(s) of the Sustainability Statement (or Chapter 1/Chapter 4) that address it, and marks E1-7 and E1-8 explicitly "N/A."

Material topics covered across the appendix are ESRS 2 plus E1, E2, E3, E4, E5, S1, S2, S3, S4 and G1; no topical ESRS is marked wholly not material in Appendix 1. Appendix 2 separately cross-references datapoints required under SFDR, the Benchmark Regulation, Pillar 3 and the EU Climate Law to the corresponding report sections.

Transition plan for climate change mitigation

Reference: pages 81-82; targets table page 82; action levers page 89.

Carrefour states plainly that "this transition plan is incomplete within the meaning of the CSRD. The missing elements include certain levers related to Scope 3 GHG emissions, representing 4% of the reduction in emissions expected by 2035, and significant investments and operating expenses to implement its action plans."

"The Group's climate pathway was validated in January 2026 by the Science Based Targets Initiative (SBTi) as being aligned with a 1.5°C by 2035 pathway (Near Term Standard)," corresponding to a 67.2% reduction in Scope 1 & 2 emissions and a 49% reduction in Scope 3 emissions by 2035 (vs. 2019). Carrefour is on the CDP Climate A List, "top 4% of companies globally recognized for their fight against climate change." The Group states that "the use of an offsetting strategy or carbon credits, or taking into account negative emissions, do not form part of the Group's strategy for the medium term (up to 2035)."

Policies related to climate change mitigation and adaptation

Reference: page 80 (mitigation); page 106 (adaptation of sites); page 108 (adaptation of products and supply chains).

"Carrefour raised and extended its climate goals in 2025, setting emissions-reduction targets for its integrated stores (Scopes 1 & 2) and its value chain (Scope 3) for the time horizon up to 2035." Standards referenced include TCFD, the GHG Protocol, the EU F-Gas Regulation, SBTi (including the FLAG sector methodology since the 2023 cycle), ACT (Ademe/CDP), ISO 50001 (France, Italy, Belgium) and RED III.

On adaptation, the policy "aims to ensure the safety of people ... and improve the resilience of its sites," addressing acute and chronic physical risk through a four-phase plan (identify/assess, hierarchise, roadmap and budget, implement/track). For supply chains, Carrefour "carried out a review of its mapping of sensitive raw materials in 2025" and "prioritisation was then carried out to select 15 high-risk raw materials on which the Group will focus its efforts."

Identification of climate-related risks and scenario analysis

Back-filled from the E1 climate-risk assessment described under "Adapting sites to climate change" (Section 2.1.2.1.3), where this content is disclosed in the FY2025 report (page 106). This disclosure requirement did not exist under the 2023 ESRS the report was prepared against.

In 2023 Carrefour commissioned "an independent expert ... to measure the climate risks affecting the Group's stores (integrated and franchised), warehouses and headquarters in the eight countries in which the Group operates," assessing "exposure of the sites to eight climate risks ... based on three IPCC climate scenarios (RCP 2.6, 4.5 and 8.5) and over four time horizons (current, 2030, 2050 and 2100)." The eight hazards are "marine submersion, heavy precipitation, river flooding, heat wave, fire, drought, winter storm and hailstorm." In 2025 the methodology was enhanced with two new dimensions, asset sensitivity and financial value of vulnerable sites, trialled across "100 pilot sites."

RCP8.5 satisfies the high-emission physical-risk scenario requirement. No separate 1.5°C-aligned transition-risk scenario distinct from the SBTi 1.5°C target pathway is named, and no explicit global-average-temperature-projection rationale is given, which is a gap against ESRS E1-2 paragraph 17.

Actions and resources in relation to climate change policies

Reference: pages 89-90.

The 2035 carbon-reduction roadmap breaks levers into priority scopes with quantified contributions: downstream transportation efficiency and fleet upgrades ("<1%, i.e., 0.1 MtCO2eq"), and waste/food-waste reduction ("-4%, i.e., 3 MtCO2eq" from "60% reduction in food waste by 2030 (vs. 2016)," raised from the 2025 target). "Between 2025 and January 2026, the Group signed six new [PPA] contracts," reaching "cumulative renewable capacity of almost 1,027 GWh per year (representing 24% of its total electricity consumption)."

The energy-efficiency target is a 27.5% reduction in stores/warehouses energy consumption by 2030 (2019 baseline) via six priority actions (cooling-system renovation, refrigeration doors, electronic speed controllers, divisional meters, LED lighting, centralised technical building management), and 100% renewable electricity by 2030 through on-site solar (337 stores equipped end-2025, +61% vs. 2024) and PPAs.

Resilience in relation to climate change

Back-filled from the "Adapting sites" and "Adapting products and supply chains" sections of E1 (Section 2.1.2.1.3-2.1.2.1.4), where this content is disclosed in the FY2025 report (pages 106-108). This disclosure requirement did not exist under the 2023 ESRS the report was prepared against.

Carrefour describes capacity-to-adapt measures rather than a single formal ESRS-defined resilience conclusion: a four-phase site-adaptation plan (identify/assess climate risks, hierarchise sites, build a costed roadmap, implement and track), piloted across 100 sites in 2025 and due to be rolled out to all sites next; and supply-chain adaptation built on prioritising "15 high-risk raw materials," diversifying sourcing ("51,490 partner producers," target 50,000 partner producers by 2026) and "narrowing the carbon footprint of the production and transportation chains."

No explicit statement of whether a formal ESRS-defined resilience analysis was or was not performed is given; the report does not state significant areas of uncertainty in the assessment (ESRS E1-3 paragraph 19(b)) or quantify financial flexibility to redeploy assets.

Targets related to climate change mitigation and adaptation

Reference: pages 82-84 (Table 3).

SBTi-validated targets (2019 baseline): Scopes 1 & 2 down 60% by 2030, 67.2% by 2035, 70% by 2040 (actual: -57% Y, -48% Y-1); purchased goods and services (Scope 3.1) down 32% by 2030, 46% by 2035 (actual +1.6% Y, deteriorating); downstream transportation down 27.5% by 2030, 40% by 2035 (actual -26% Y); use of sold fuel down 27.5% by 2030, 67.2% by 2035 (actual -23% Y); total Scope 3 down 32% by 2030, 49% by 2035 (actual -3.1% Y).

Other targets: 100% of Carrefour Quality Line sales from agroecology-labelled producers by 2025 (actual 37% Y, up from 34%); 5,000 EV charging points in France by 2026 (actual 4,672, up from 2,100); €650m in plant-based-alternative sales by 2026 (actual €664m, already exceeding target); and an average store climate score of 8/10 by 2030 (actual 8.5).

Energy consumption and mix

Reference: pages 99-100 (Table).

Total renewable energy consumption reached 2,448,208 MWh (up from 2,329,867 MWh, +5.1%); renewable electricity consumption was 2,346,724 MWh (+4.0%); the percentage of total electricity consumption from renewable sources (self-consumed solar, PPAs, certificates of origin and residual mix) rose to 57.4% from 53.4%.

Energy intensity fell to 380 MWh/sq.m from 388 (-2.0%), and the reduction in energy intensity versus 2019 reached -18.6% against a 2030 target of -27.5%. Total energy consumption from nuclear sources was 1,000,308 MWh (20.5% of the mix, down from 22.0%). Energy intensity for activities in high climate-impact sectors was 80.2 MWh/€k.

Gross Scopes 1, 2, 3 and Total GHG emissions

Reference: pages 96-100 (Table 8).

Scope 1 & 2 emissions (market-based) were 1,066,911 tCO2eq, down from 1,286,216 (2024) and 2,461,082 (2019 base), a -56.6% reduction versus 2019. Scope 1 alone was 571,903 tCO2eq (-58.3% vs. 2019); Scope 2 (market-based) was 495,008 tCO2eq (-54.5% vs. 2019).

Total Scope 1, 2 & 3 emissions (market-based) were 94,014,449 tCO2eq (-0.6% year on year; -3.8% vs. 2019 base of 97,692,081). Scope 3 alone was 92,947,539 tCO2eq. The largest Scope 3 categories are purchased goods and services (64,887,818 tCO2eq, +1.6% vs. 2019), upstream transportation (5,136,599 tCO2eq) and upstream energy-related emissions (3,361,404 tCO2eq). The percentage of Scope 3 emissions calculated using primary data rose to 41.8% from 18.1%.

Policies related to pollution

Reference: pages 111-112.

"Carrefour aims to limit and reduce emissions and harmful and polluting substances across its value chain," organised around promoting sustainable agriculture, protecting textile raw materials, and reducing microplastic and substance-of-concern release. Recognised sustainable-agriculture standards include Organic Farming, Carrefour Quality Lines, High Environmental Value option A, Eco Responsible Orchards, Zero Pesticide Residues and Terra Vitis; recognised textile standards are GOTS, GRS, LWG and RWS.

On plastics, "the Group adheres to the approach initiated by the Ellen MacArthur Foundation as part of the Global Commitment on plastics" and complies with the Consumer Goods Forum's Golden Design Rules. For hazardous substances the Group follows REACH, RoHS and the POP regulations. Governance sits with the Group's Engagement Director and Merchandise Director.

Actions and resources related to pollution

Reference: pages 115-117.

Sustainable-agriculture actions cover 11 practices: protecting pollinators, protecting water resources, reducing chemical pesticides, local animal feed, using livestock effluent as a resource, improving soil life, animal welfare, boosting biodiversity, and multi-year producer contracts. Carrefour Quality Lines "account for 6% of the Group's fresh produce sales."

For textiles, "Carrefour Global Sourcing is a member of the Sustainable Apparel Coalition" using the Higg platform; "by 2025, 72% of Carrefour Global Sourcing's textile suppliers had already been audited using this assessment, compared with 60% in 2024." Specific raw-material plans cover cotton (organic cotton development), wool (RWS certification, 68% of suppliers certified in 2025 against a 2026 target) and leather (Leather Working Group sourcing requirement).

Targets related to pollution

Reference: page 115 (Table).

Key targets: 15% of fresh food sales from organic or agroecological farmers by 2025 (actual 5.9% Y, 6.7% Y-1, i.e. declining); 100% of Carrefour Quality Line sales from agroecology-committed producers by 2025 (actual 37.0%, up from 34.4%); 100% roll-out of the sustainable TEX policy for natural raw materials by 2027 (actual 84.7%, up from 75.5%); 50% of TEX cotton from organic, fairly-paid producers by 2027 (actual 41.6%, up from 36.2%).

These targets sit under the same "Reducing pollution associated with products sold" and "Reducing pollution associated with fuel sales" sections (2.1.2.2.2/2.2.2.2.3) that carry E2-1 and E2-2.

Pollution of air, water and soil

Reference: page 115 (Table 2: Monitoring key performance metrics related to pollution).

Carrefour's own content index points E2-4 to the same performance-metrics section as E2-3's targets, i.e. adoption-rate metrics for sustainable and pollution-reducing practices rather than tonnage of pollutants released: percentage of sales from organic/agroecological farmers, percentage of Carrefour Quality Line sales from agroecology-committed producers, percentage roll-out of the sustainable TEX policy, and percentage of TEX cotton/wool products meeting certified sourcing standards (RWS-certified suppliers at 68% in 2025).

No direct tonnage figures for air, water or soil pollutant emissions are given; the disclosure is built around input/practice-adoption indicators for the agricultural and textile supply chain, consistent with a retailer whose pollution impact sits mainly upstream.

Substances of concern and substances of very high concern

Reference: page 117.

"Carrefour requests that its suppliers replace substances of very high concern (SVHC) and substances of concern (CMR 1A and 1B) in non-food (household, perfume and hygiene) products and packaging as soon as technically possible." The Group runs checks for substances such as phthalates, prioritising the highest-risk categories, and declares substances that cannot yet be eliminated "in the Substances of Concern in Products (SCIP) database, in accordance with legal requirements." Consumers are informed via the Carrefour.fr website.

The report states plainly: "regarding substances of concern, Carrefour is not at this stage in a position to carry out consolidated monitoring of the volumes present in products because the information provided by certain suppliers on this issue remains insufficient." No volumes generated, used, procured or leaving the undertaking are quantified.

Policies related to water and marine resources

Reference: pages 119-121.

On water: "to prevent the impacts and risks associated with the use of water to produce the own-brand products it sells, Carrefour has over the past several years developed various solutions that apply in all of its geographies," built on promoting organic farming and CQL practices that "safeguard water resources, such as eliminating the use of authorised synthetic pesticides, monitoring the quality of the water used and promoting methods and equipment that optimise irrigation."

On marine resources: the policy favours "the most abundant species depending on the geography and the state of stocks," excludes certain high-impact fishing techniques (e.g. deep-sea fishing for some species), promotes ASC- or Bio-certified aquaculture, supports local fishing partnerships and requires compliance with illegal-fishing regulations. The policy applies to all raw or minimally-processed products containing at least 50% aquatic products, own-brand and national brand.

Actions and resources related to water and marine resources

Reference: pages 120-121.

"In 2024, the Group carried out an initial analysis of water consumption for irrigation of agricultural crops per country in Europe, as well as an analysis of these countries' exposure to water stress," leading to a pilot project in Spain and ongoing work "to map the risks associated with its supplies in relation to climate risks." CQL specifications require monitoring irrigation water use, an irrigation plan, decision-making tools (humidity sensors, weather stations), water-optimising equipment and a ban on gravity-fed irrigation, with supplier transition "based on a gradual and differentiated approach."

For fishing, Carrefour conducts supplier surveys covering all tuna suppliers, has suspended albacore tuna sourcing from the Indian Ocean in Europe, is phasing out fish-aggregating devices, and belongs to the Global Tuna Alliance; supplies from Senegalese boats were suspended following an EU "yellow card."

Targets related to water and marine resources

Reference: page 120 (water, cross-referenced to E2); page 121 (Table 4, marine resources).

For water, the targets table states that "the targets for promoting sustainable agriculture, which involves responsible water consumption, are set out in Section 2.1.2.2.2.1 Policies and targets related to ESRS E2 (Pollution)" -- no distinct water-consumption target is set under E3 itself.

For marine resources, the Group targets 50% of sales from responsible seafood and aquaculture products by 2025 (actual 37.4% Y, up from 35.2% Y-1), from a 2021 baseline of 35%. Sales of responsible seafood and aquaculture products reached €1,009.7 thousand, up 19.7% year on year.

Water consumption

Reference: page 120 (Table 3, heading "Water consumption [E3-4]").

The dedicated performance-metrics table for water consumption is effectively empty in the report: it states only that "the metrics relating to the promotion of sustainable agriculture, which involves responsible water consumption, are set out in Section 2.1.2.2.2.2 Performance metrics related to ESRS E2 (Pollution)," with no total water-consumption figure (m3), no water-stress-area breakdown, and no water-intensity ratio given directly under this heading. Note also that Carrefour's own Appendix 1 index mislabels this row "E4-4" rather than E3-4, even though the body heading correctly reads "[E3-4]."

Separately, under biodiversity (E4), the report does disclose that Carrefour France stores consume "just over 1 million cubic metres of water" (739,000 m3 for hypermarkets, 421,000 m3 for supermarkets) and that 12.5% of Group sites sit in areas of very high water stress -- data not cross-referenced back into this E3-4 table.

Policies related to biodiversity and ecosystems

Reference: pages 130-132 (own operations); pages 132-134 (value chain).

On own operations: Carrefour aims "to minimise the impact of its sites on biodiversity by integrating responsible practices into site development and management," including "responsibly managing site location." A 2024 study using the Integrated Biodiversity Assessment Tool covered "10,613 sites" across the eight integrated countries, finding "the Carrefour group owns, leases or manages 3,041 sites in or near a biodiversity sensitive area."

On the value chain: "land cover and land-use change, particularly associated with deforestation, account for 84% of the overall impact." Carrefour commits that "as from December 31, 2025, its main raw materials will not contribute to deforestation," implemented mainly through EUDR compliance, with raw-material-specific policies for Brazilian beef, cocoa, wood/paper, palm oil and soy, overseen by a five-member Forest Committee chaired by two Executive Committee members.

Actions and resources related to biodiversity and ecosystems

Reference: pages 132-133 (own operations); pages 133-134 (value chain).

Own operations: a "charter for enlightened management of green spaces" in France lists best practices (alternatives to conventional crop-protection agents, reduced-intensity mowing); new construction complies with the French Climate and Resilience Law and Zero Net Artificialisation Act, including a green-space coefficient and on-site rainwater management.

Value chain: Brazilian beef sourcing follows a "closed-loop or full-cycle model" tracing cattle "from birth to fattening" on the same property, plus a risk-assessment methodology for intermediate farms developed with the Forest Committee, under which "Carrefour considers that beef does not involve deforestation if it is not sourced from a high-risk area."

Targets related to biodiversity and ecosystems

Reference: page 131 (Table 3, own operations); page 133 (Table 5, value chain).

Own operations: a new 2025 commitment that 100% of sites are subject to a biodiversity impact assessment and 100% of at-risk sites are compliant with the Group's site biodiversity policy by 2030; the target value is recorded as "New" and Carrefour states "the first metrics related to this commitment will be consolidated in 2026."

Value chain: 100% roll-out of deforestation-risk-reduction action plans for Brazilian beef, palm oil, soy, wood/paper and cocoa, permanent target from a 2018 baseline of 0%; performance was 77.5% (Y), down from 82.4% (Y-1) -- a year-on-year deterioration of -4.9 points.

Impact metrics related to biodiversity and ecosystems change

Reference: page 131 (Table 4, "Impact metrics related to biodiversity and ecosystems change [E4-5]").

The metrics table follows directly from the 2024 site-level nature study: it is structured around the "Site policy" topic, tracking exposure and dependency findings from the Integrated Biodiversity Assessment Tool analysis of the Group's 10,613 sites -- including the finding that "12.5% of sites are located in areas subject to very high levels of water stress, mainly in France, Brazil and Spain," and that 3,041 sites sit in or near a Key Biodiversity Area or Protected Area, covering 1,764 hectares.

As with the operations-side E4-4 target, Carrefour notes this is a first-year commitment, with fuller metric consolidation expected in the 2026 Sustainability Statement.

Policies related to resource use and circular economy

Reference: page 145.

"As a major player in the mass retail sector, the Group recognises that responsible management of waste and food waste is not only essential to reducing its ecological impact, but also to meeting the expectations of consumers and stakeholders in terms of sustainable development. To this end, the Group's policy is to prevent the production of waste, by combating food waste, and to recycle waste from its stores." The policy applies to Carrefour-managed stores and warehouses.

Carrefour's packaging reduction plan rests on two pillars: reducing the quantity of virgin plastic used, and increasing sales of loose products and reusable packaging, managed through an international governance structure spanning the International Merchandise, Quality and CSR departments plus country packaging liaison officers.

Actions and resources related to resource use and circular economy

Reference: page 144 (packaging); page 146 (waste).

"In April 2025, Carrefour made new major commitments related to packaging," aiming to "reduce the virgin plastic content of the single-use packaging for Carrefour own-brand products by 10%, representing approximately 15,000 tonnes." In 2025 total packaging materials used reached 296,142 tonnes, comprising 113,521 tonnes plastic, 77,678 tonnes glass, 28,090 tonnes metal, 74,792 tonnes fibrous materials and 2,060 tonnes other.

On waste, Carrefour "works with waste recovery companies for items such as cardboard, plastic and organic waste," applying "regular monitoring via audits, setting measurable waste reduction targets, incorporating innovative R&D solutions, training employees in best practices, and increasing the number of recycling programmes."

Targets related to resource use and circular economy

Reference: page 145 (Table 4).

"The objective of recovering 100% of store waste by 2025 reflects Carrefour's commitment to optimising waste management in accordance with local regulations," later revised to "10% reduction in non-recycled waste by 2030 (vs. 2024)"; performance against the recovery target reached 67% by the base year shown. The Group's food-waste target moved from "50% reduction in food waste by 2025 (vs. 2016)" to "60% reduction in food waste by 2030 (vs. 2016)," with actual performance of -51% (Y) against -50% (Y-1).

Resource inflows

Reference: page 143 (Table 3: Monitoring key performance metrics to develop the circular economy as part of our product and service offering).

Total weight of technical and organic products and materials used during the year was 55,917 tonnes, up 17.7% from 47,507 tonnes. Percentage of packaging for Carrefour-brand products that is reusable, recyclable or compostable reached 66.7% (new metric); percentage of recycled packaging materials in total packaging was 24.0%, up from 15.3%; percentage of recycled plastic packaging in total plastic packaging fell to 13.4% from 23.6%. Percentage of organic packaging materials of sustainable origin was 4.7%, against an 80% target.

Resource outflows

Reference: page 146 (Table 5: Monitoring key performance metrics to develop the circular economy as part of operations). Note: Carrefour's Appendix 1 index prints this row as "E5-6," but its section reference (2.1.2.5.2.2/2.1.2.5.3.2 performance metrics) and content match the 2023 ESRS E5-5 "Resource outflows" datapoints rather than E5-6 "Anticipated financial effects."

Food-related outflow metrics: reduction in the rate of food waste versus 2016 reached -51% (Y) against a -50% 2025 target; 182,507 tonnes of food were recovered through anti-food-waste boxes via 4,283,756 boxes; food donations across all scopes totalled 30,890 tonnes. These figures sit alongside, and partly overlap with, the hazardous/non-hazardous waste tonnages reported under E5-5-Waste on the same pages.

Waste

Reference: pages 146-148 (Tables 5, continued).

Hazardous waste diverted from disposal was 4,039 tonnes, up from 1,839 (+119.6%), of which 2,799 tonnes via recycling (up from 727, +285.0%). Non-hazardous waste diverted from disposal reached 639,503 tonnes, up from 544,705 (+17.4%), of which 493,610 tonnes via recycling.

Hazardous waste intended for disposal was 653 tonnes (up from 530), including 203 tonnes by incineration and 128 tonnes by landfill. Non-hazardous waste intended for disposal was 156,666 tonnes (up from 133,969), including 1,969 tonnes by incineration and 147,991 tonnes by landfill. Coverage on these waste metrics is 98%, excluding Match.

Policies related to own workforce

Reference: pages 167-168 (social dialogue); page 177 (disabilities); page 171 (social protection); page 181 (health and safety).

"Carrefour is committed to preventing the deterioration of the social climate and maintaining employee engagement ... by consolidating an employment model that is among the best in the industry." As "a signatory to a framework agreement with UNI Global Union" (renewed September 30, 2025, for a further four years), the Group guarantees "freedom of association and respect for the principles of collective bargaining in all its countries."

On human rights, "in 2023, using the Social HotSpot database and UNICEF's Children's Rights and Business Atlas, Carrefour mapped the human rights risks to which its operations are exposed ... This risk mapping exercise did not identify forced labour or child labour as major risks for the Group." The policy scope covers all employees in the Group's seven integrated countries, "apart from small companies and start-ups representing less than 1% of the Group's total headcount."

Processes for engaging with own workforce and workers' representatives about impacts

Reference: pages 164-165.

Carrefour engages employees through "round tables with employees" and "engagement surveys," and trade unions/employee representatives through "annual consultation and ad hoc working groups," negotiation of collective agreements, and the European Consultation and Information Committee (ECIC), which "met six times" in 2025 across plenary, Steering Committee and other meetings. NGOs and advocacy groups (FIDH, L'Autre Cercle, France UN Committee) are consulted to "identify best practices and compare policies and results with other companies."

"The frequency of dialogue with stakeholders varies from year to year and depending on current events. When the dialogue has a specific framework and takes place at strict intervals, this is specified in the table."

Processes to remediate negative impacts and channels for own workforce to raise concerns

Reference: page 165 (cross-reference); page 175 (metrics).

"The Group's various whistleblowing facilities are described in Section 2.1.4.1 Business conduct (ESRS G1)" -- own-workforce grievance channels are incorporated by reference to the Group-wide ethics platform rather than described separately under S1. Usage data nonetheless appears under the own-workforce metrics: "726" complaints were filed "through channels for people in the Group's own workforce to raise concerns" in 2025, up from 328 (+121.3%), and "0" complaints were filed through the OECD National Contact Points.

The Group's Ethics & Compliance and Security departments, supported by ethics committees, handle whistleblower reports and protect whistleblowers "in accordance with EU and national regulations."

Taking action on material impacts on own workforce, and approaches to managing material risks and pursuing material opportunities related to own workforce, and effectiveness of those actions

Reference: pages 174-175 (Table 3).

Effectiveness is tracked primarily through incident and complaint data: "8,918" whistleblowing reports were received (up from 8,594, +3.8%), with "100%" acknowledged within seven days. Discrimination-incident reporting methodology changed in 2025 to split reported from confirmed cases: "1,611" incidents of discrimination including harassment were reported (up from 1,089) and "479" were confirmed.

"Amount of fines, penalties and compensation for damages as a result of discrimination incidents, including harassment, reported and complaints filed" reached €39,678, up sharply from €4,816. Severe human-rights incidents relating to the Group's own workforce, and cases of non-compliance with the UN Guiding Principles or OECD Guidelines, were both "0."

Targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities

Reference: page 168 (social climate); pages 173-174 (diversity and disability).

"Carrefour aims to achieve a [employer recommendation, eNPS] score above 7.5/10 each year"; the 2025 result was 8/10, down slightly from 8.1/10 in 2024 but "still much higher than for its sector as a whole" (industry average 7.1/10).

On diversity: a target of 35% women among the Group's top 200 executives by 2026, from a 22% baseline in 2020 (actual 32.3% Y, up from 28.0% Y-1); and a target of 15,000 employees with disabilities across the Group by 2026, from a 10,902 baseline in 2021 (actual 14,403).

Characteristics of the undertaking's employees

Reference: pages 162-163 (Tables 1-3).

Total headcount was 298,604, down from 324,750 (-8.05%), "primarily due to the sale of the Group's Italian operations": 133,956 male, 164,644 female. By country: France 86,384; Brazil 120,686; Spain 44,227; Romania 14,403; Poland 7,982; Argentina 16,461; Belgium 8,113.

Of total headcount, 275,850 were permanent employees (151,902 female, 123,944 male) and 22,749 temporary. The annual turnover rate, "the ratio of departures of people on permanent and temporary contracts ... to the average head count," was 62% (up from 60%), on 187,994 departures against an average headcount of 304,169.

Collective bargaining coverage and social dialogue

Reference: page 169 (Tables 2-3).

"Percentage of employees covered by a collective bargaining agreement" was 100%, against a 100% permanent target, across "All Group/Integrated countries." Collective bargaining coverage for EEA countries with more than 50 employees representing over 10% of total headcount (France, Spain, Poland, Belgium, Romania) was 100%, matched by 100% workplace-representation coverage in those same countries.

"Social dialogue at Carrefour is constructive: 106 collective bargaining agreements were signed by Carrefour group companies in 2025." The ECIC, created in 1996 and renewed with UNI Global Union in 2011, remains the Group's main European social-dialogue body.

Diversity metrics

Reference: page 174 (Table 2).

Percentage of women among the Group's Top 200 executives reached 32.3% (Y), up from 28.0% (Y-1), against a 35% target by 2026. In absolute terms there were 50 women in the Top 200 (up from 45, +11.1%) and 105 men (down from 116, -9.5%).

Board-level diversity is reported separately under GOV-1: six of 12 Board members (excluding employee representatives) were women (50%) at December 31, 2025.

Adequate wages

Reference: page 180 (Table 1).

"Four countries in which Carrefour operates have transposed Directive 2022/2041," which guarantees an adequate minimum wage; wages in those countries were assessed against it. Where the Directive had not been transposed (Poland), the legal minimum wage was used as benchmark, "as it represents more than 60% of the national median wage and 50% of the national average wage." In Argentina and Brazil, wages are assessed against Carrefour-specific collective agreements incorporating national minimum-wage references; in both, "the analysis showed that Carrefour employees ... receive a wage equal to or higher than the collective agreement applicable to them."

Coverage: 4 EEA countries under the Directive, 2 non-EEA countries under a collective agreement, and 1 country (Poland) under the international benchmark -- "100% of the integrated scope" in each case.

Social protection

Reference: page 171.

"Carrefour France harmonised all its death & disability and healthcare insurance schemes via an agreement signed with trade unions in 2014," extending the same level of social protection to all employees "regardless of contract type ... and after just three months of service for non-management employees." Under a 2018 majority agreement, healthcare and insurance cover is maintained for employees transferred in a lease-management transaction, "at a level equivalent to that provided by Carrefour," with 50% of cost borne by the lease manager. In 2025, "all Cora employees joined Carrefour's APGIS private health insurance scheme."

Enhanced protection for women's health in France (since April 2023) includes 12 days' authorised medical absence per year for endometriosis and a day's leave for assisted-reproduction treatment.

Persons with disabilities

Reference: page 177.

"Disability has been chosen as the central cause in the Carrefour 2026 strategic plan." France's first disability-employment agreement dates to 1999; an Inclusion Manifesto with ten commitments was signed with the French Ministry of Solidarity and Health in 2019, and "IncluLine," a support service for disability questions, launched in late 2023.

In Spain, an October 2025 employment forum with the Madrid municipal employment agency identified "224 suitable candidates" with disabilities. In Argentina, the "Let's Look After Shopping Carts" programme with NGO CILSA created cart-surveillance jobs for people with disabilities at four pilot stores.

Training and skills development metrics

Reference: page 187 (Table 2).

"Percentage of employees with access to training in the year (at least four hours of training)" was 63.7% (Y), down from 66.7% (Y-1), against a 50% target by 2026. All Group employees (100%) have access to dedicated digital training courses, matching the 2026 target already.

Cumulative graduates of the Leaders School since 2022 reached 10,429 (up from 9,505, +11.4%), well past the 5,000-graduate target set for 2026.

Health and safety metrics

Reference: page 183 (Table 2).

The work-related accident frequency rate (accidents per million hours worked) was 18.4, up from 16.5 (+1.9 points). The number of work-related accidents with lost time was 8,810 (up from 8,556, +3.0%). The number of accidents with or without lost time fell to 6,263 from 6,685 (-6.22%) on a comparable scope covering France, Argentina, Brazil, Belgium, Spain, Poland and Romania.

Work-life balance metrics

Reference: page 170.

Under "Protecting work/life balance," Carrefour describes measures facilitating childcare, including an on-site nursery at the Massy head office in France (open since 2015) and CESU voucher financial assistance for childcare. Following the Covid crisis, the Group launched "a Group-wide initiative on smart ways of working aimed at promoting greater autonomy and flexibility," with remote-working days extended in Argentina, Belgium, France, Romania and Spain for vulnerable employees, plus part-time arrangements for people over 60 and progressive-retirement measures in France.

Compensation metrics (pay gap and total compensation)

Reference: page 180 (Table 1).

Gender pay gap was 12.9% (Y), improved from 13.2% (Y-1), measured using annual gross compensation. This metric sits in the same "Metrics related to adequate wages" table as the S1-10 wage-adequacy data, reflecting Carrefour's own section mapping (2.1.3.1.4) of both disclosures to the wages chapter.

Incidents, complaints and severe human rights impacts

Reference: page 175 (Table 3).

"8,918" whistleblowing reports were received in 2025 (up from 8,594, +3.8%), with 100% acknowledged within seven days. Discrimination incidents reported numbered 1,611 (methodology changed from the prior year, so not directly comparable to the 1,089 reported in 2024), of which 479 were confirmed. Complaints filed through own-workforce channels rose to 726 from 328 (+121.3%); complaints through the OECD National Contact Points for Multinational Enterprises were "0."

"Number of severe human rights issues and incidents relating to the Group's own workforce" was "0," as was the number of cases of non-compliance with the UN Guiding Principles or OECD Guidelines, and associated material fines.

Policies related to value chain workers

Reference: page 191.

"To ensure that human rights are respected by its direct suppliers and within its value chain (tiers 1 and 2), Carrefour updated its Supplier Ethics Charter in 2024 so that it applies equally to national brand and own brand suppliers," covering "upholding human rights, ethical business conduct, and respect for the environment." The charter "has applied to nearly 10,000 suppliers since January 1, 2025," with "all Carrefour Group suppliers" due to have signed by end-2028.

For international franchisees, a Franchisee Ethics Charter (2024) "incorporates and extends the requirements set out in the CSR appendix and in the Human Rights Charter," monitored through audits, evaluations and the Group's ethics whistleblowing facility.

Processes for engaging with value chain workers about impacts

Reference: page 190.

Non-profits and NGOs (e.g. FIDH) are engaged through "talks and ad hoc consultations" to define Group policy and set targets; trade unions (UNI Global Union) through "partnerships" on industry-level and national strategies. Worker Voice, a digital grievance and feedback tool, was "enabled" at 41 plants in 2025, up from 38 (+7.9%).

Processes to remediate negative impacts and channels for value chain workers to raise concerns

Reference: page 191 (cross-reference); page 194 (action plans).

"The Group's whistleblowing system is described in Section 2.1.4.1 Business conduct (ESRS G1)," the same Group-wide ethics platform used for own-workforce and franchisee concerns. Beyond the hotline, remediation in the value chain runs through Carrefour's social-audit and corrective-action-plan process: "a report and accompanying action plan are issued systematically to correct any instances" of non-compliance identified during ICS/BSCI audits, and Worker Voice (41 plants enabled in 2025) provides a parallel, direct feedback channel for factory workers.

Taking action on material impacts on value chain workers, and approaches to managing material risks and pursuing material opportunities related to value chain workers, and effectiveness of those actions

Reference: pages 193-195 (Table 2).

"Percentage of international franchisees that have signed a human rights clause" reached 84.2% (Y), up from 83.3% (+0.9pt), against a 100% target by 2028, driven in part by "the new partnership with Senegal." Social audits of tier-1 suppliers in at-risk or high-risk countries are mandatory under ICS/BSCI standards (A/B rating required); in 2025 Carrefour carried out 872 social audits in China (up from 784, +11.2%) and 58 in India (down from 60, -3.3%).

Country-risk classification draws on amfori's BSCI risk list plus "recommendations from the International Federation for Human Rights and from Carrefour's local teams," with sub-national reclassification applied where warranted (e.g. Tamil Nadu, India, reclassified "high risk").

Targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities

Reference: page 192 (Table 1).

"The Group conducts social audits of 100% of factories in countries at risk producing products under its brands," against a 2028 target; performance reached 100% (Y), up from 83% in the 2024 baseline year. "The geographic areas concerned are determined each year through risk mapping, and the countries in which the factories are located may vary from one year to the next."

Policies related to affected communities

Reference: page 198.

"Carrefour recognises that promoting human rights is fundamental to conducting its business responsibly and over the long term," with specific targets set for indigenous and native peoples. Policy is grounded in international frameworks: RSPO, FSC/PEFC, RTRS/Proterra, the Beef on Track and Cerrado sector protocols in Brazil, and Carrefour's own Sustainable Cocoa Charter, alongside the Paris Agreement, UNDRIP (2007), the UN Guiding Principles on Business and Human Rights, ILO conventions and France's Duty of Care law. Regarding oil extraction, "the Group's biofuel suppliers comply with Directive 2009/29/EC."

Processes for engaging with affected communities about impacts

Reference: page 197.

Certifications bodies (RSPO, FSC, Rainforest Alliance) assess action-plan implementation through "talks and ad hoc consultations"; suppliers engage via the "Producers' Club" partnership model; multi-stakeholder initiatives (Global Compact) help define industry-level strategies; non-profits and NGOs (Imaflora, Earthworm Foundation) roll out in-the-field projects; and trade unions (UNI Global Union) raise whistleblowing reports as partners. "Carrefour Brazil has implemented an action plan based on support for indigenous community initiatives."

Processes to remediate negative impacts and channels for affected communities to raise concerns

Reference: page 201.

"The Group's whistleblowing facilities are described in Section 2.1.4.1 Business conduct (ESRS G1) of this chapter. For accessibility purposes, the hotline and a telephone line are available in Portuguese" -- a specific accommodation for Carrefour Brazil's indigenous and Amazon-region stakeholders. "At end-2025, no serious human rights incidents in relation to indigenous populations had been reported." Carrefour Brazil's CSR teams are responsible for compliance and implementing the related action plans.

Taking action on material impacts on affected communities, and approaches to managing material risks and pursuing material opportunities related to affected communities, and effectiveness of those actions

Reference: pages 199-200.

Product-certification action includes FSC (wood/paper, upholding indigenous land-use rights and free/prior/informed consent under Principle 3), Rainforest Alliance (cocoa) and RSPO (palm oil, requiring FPIC before new plantations). Through the "Florestas de Valor" programme with Imaflora, "by the end of 2025, eight suppliers were part of the programme, contributing 36 product references to the Floresta Faz Bem range," rolled out in 13 stores -- part of the Origens Brasil network connecting indigenous peoples, traditional populations, NGOs and private companies in the Amazon.

Targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities

Reference: page 199 (Table 1).

Target: 100% roll-out of action plans to reduce deforestation risk for sensitive raw materials (Brazilian beef, palm oil, soy, wood and paper -- packaging and products), permanent target from a 2018 baseline of 0%; performance reached 80.6% (Y), a new metric for the year. "The methodology relating to the targets for respecting the rights of indigenous peoples is detailed in Section 2.1.2.4 Biodiversity and ecosystems (ESRS E4)," and "the communities affected are not directly involved in drawing up the targets."

Policies related to consumers and end-users

Reference: page 204 (accessibility); page 205 (health and safety).

"Carrefour has made disability the central cause of its 2026 strategic plan and has vowed to eliminate the obstacles disabled customers encounter," targeting five barriers: checkout, navigating the store, ease of purchase, digital accessibility, and product range. On health and safety, "Carrefour's risk anticipation measures related to product quality and safety rely first and foremost on a strict prevention policy for all Carrefour-brand products, both food and non-food, which applies in all its integrated countries," built on "stringent quality standards that apply right from the product" design stage. The policies also extend to responsible communication of product information and to tailored financial/insurance products.

Processes for engaging with consumers and end-users about impacts

Reference: page 206.

"Carrefour regularly consults its customers by holding round tables and conducting written surveys, with a view to encouraging innovation and better understanding and responding to customer expectations." In June 2023 the Group ran a start-up competition specifically to improve the experience of customers with disabilities, with winning solutions (Handivisible, OOrion, Atypik'Baby) trialled in the Villeneuve-la-Garenne accessible store and, from June 2024, rolled out to "11 accessible hypermarkets."

Processes to remediate negative impacts and channels for consumers and end-users to raise concerns

Reference: page 205.

Store-level accommodations function as both remediation and prevention for accessibility: "quiet hours" for customers with autism spectrum disorders have run since 2021, now "four hours of quiet time per day" in all French hypermarkets and supermarkets, with similar initiatives in Poland, Spain and Argentina; trolley handles in hypermarkets carry store plans to aid navigation. The Villeneuve-la-Garenne accessible store (opened December 2023) layers ten further measures, including a disability reception desk, tactile Braille floor plans and adapted product ranges.

Taking action on material impacts on consumers and end-users, and approaches to managing material risks and pursuing material opportunities related to consumers and end-users, and effectiveness of those actions

Reference: page 205 (Table 2).

Accessibility metrics (new in 2025, baselines not yet comparable): target of 7 countries with a disability-inclusion plan based on the Group's five key actions by 2030; target of 100% of sites with disabled car-park spaces; target of 100% of hypermarkets with priority checkouts by 2030. Carrefour notes these are first-year commitments with data to be consolidated going forward.

Targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities

Reference: page 204 (Table 1).

"Carrefour set itself new targets in 2025 (Group scope) to enhance accessibility for everyone in all of its geographies": 100% of countries to have a disability-inclusion plan based on five key actions by 2030. As with other first-year 2025 commitments, baseline and year-on-year figures are not yet available and will be consolidated in subsequent statements.

Business conduct policies and corporate culture

Reference: pages 219, 226.

On purchasing: Carrefour's responsible purchasing policy is "an integral part of its overall business strategy," covering direct store purchases and indirect purchases for running stores and offices, and is "driven by" developing a general framework for responsible purchasing, sourcing sustainable raw materials, and ensuring supplier compliance.

On ethics: "as a retailer, Carrefour is in direct contact with numerous stakeholders and has a duty to maintain high-quality relations with suppliers, producers, trade union representatives, public authorities, NGOs, investors, non-profits and customers." The AML/CFT and anti-fraud policy sits within "a structured internal framework comprising the Group's Code of Conduct and Code of Ethics, internal control and risk management policies, financial compliance, safety and Know-Your-Customer and Know-Your-Supplier (KYC/KYS) procedures," applying "a risk-based approach" with "responsibility shared between governing bodies, the management team and all employees."

Management of relationships with suppliers

Reference: pages 219-222.

Carrefour's CQL partnership model offers suppliers "guaranteed volumes over several years" and "fairer pay through a jointly agreed purchase price that takes into account ... production costs, the fluctuating market prices of agricultural products, and the technical aspects" of meeting CQL quality standards. The Group reports 51,490 partner producers worldwide in 2025, exceeding its 50,000-producer 2026 target two years early.

On contract disputes, "Carrefour avoids applying systematic penalties for supply shortages or breach of contract. When a supplier does not fulfil its contract, a dialogue process is initiated to look at the facts and find an appropriate solution that suits both parties," with the Group undertaking "to ensure that the supplier is not placed in excessive difficulty by the breach and that it has time to find alternatives."

Prevention and detection of corruption and bribery

Reference: page 226.

Carrefour's anti-corruption framework sits within the same structured policy set as G1-1: "the Group's Code of Conduct and Code of Ethics, internal control and risk management policies, financial compliance, safety and Know-Your-Customer and Know-Your-Supplier (KYC/KYS) procedures," applying "a risk-based approach, proportionate to the nature and exposure of the activities concerned," with shared responsibility between governing bodies, management and all employees. This is the same AML/CFT and anti-fraud policy framework referenced under G1-1 and that underlies the G1-4 incident metrics and the new G1-3-Targets commitments.

Targets related to business conduct

Reference: page 227.

Carrefour set two new targets in 2025: "100% of proven cases, reported via the whistleblowing hotline, to be covered by an action plan" (permanent target), and a target relating to non-compliance with the Sapin II law and other anti-corruption/business-ethics regulations. Both are first-year commitments: "as these two targets are new, Carrefour is not in a position to provide any related disclosures for 2025. They will be consolidated in 2026 and the related data disclosed in that year." Separately, "fraud, financing of terrorism or money laundering: Carrefour has not set any targets or performance metrics for these IROs. A short-term action plan has been put in place to work on this."

Incidents of corruption or bribery

Reference: page 228 (Table 2).

"Number of convictions for violations of anti-corruption and anti-bribery laws" was "0" in both 2025 and 2024, as were "fines for violations of anti-corruption and anti-bribery laws," with coverage of "100% (including CWT, CNBV, Eureca and GS/CPI)." Whistleblowing-report volumes are tracked in the same table (cross-referenced to the S1-17/G1 ethics-platform metrics).

Political influence and lobbying activities

Reference: pages 232-233.

"Financial contributions to political parties" and "contributions in kind to political parties" were both €0 in 2025 and 2024 (100% coverage). "In line with its ethical commitments, Carrefour does not support any political parties, either through financial contributions or contributions in kind." The Group's Responsible Lobbying Charter, drawn up jointly by the Ethics and Compliance and Public Affairs departments and "publicly accessible to all stakeholders," is designed "to avoid any contradiction with public international conventions," even though "Carrefour is not legally obliged to be a member of a chamber of commerce or other organisation that represents its interests."

Payment practices

Reference: pages 220-221.

Payment terms vary by country: in Brazil, "there is no legal maximum time limit imposed by default between two private companies," with contractual periods of "between 30 and 60 days"; in Spain, "payment terms are 0 to 30 days for fresh produce, 0 to 90 days for other foodstuffs," with non-food terms set by individual supplier contracts. "These three countries account for 85% of Group sales." Carrefour uses EDI and a billing portal "to avoid administrative delays" and automated pre-validation checks, with the Accounts Payable department responsible for invoice reconciliation and payment.