2010 Corporate Calendar incl. release and black-out dates As of 18 January 2010

Corporate Calendar 2010 Final Version of Financials to SB/AC Press Release to AC Publication Date AC Meeting SB Meeting Q4 2009 Trading Update Fri, 15 Jan Mon, 18 Jan* Tue, 19 Jan Thu, 11 March Thu, 11 March FY 2009 Audited IFRS Results, SB, MB & CG Reports Fri, 2 Apr Tue, 6 Apr Thu, 8 Apr Thu, 15 Apr Thu, 8 Apr Q1 2010 Trading Update Wed, 7 Apr Thu, 8 Apr Fri, 9 Apr Financial Results, reviewed by auditors Fri, 21 May Tue, 25 May Wed, 26 May* Thu, 27 May AGM 10 Jun Strategy Committee Meeting Tue-Wed, 6-7 Jul Q2 2010 Trading Update Wed, 7 Jul Thu, 8 Jul Fri, 9 Jul Thu, 8 Jul Financial Results, reviewed by auditors Fri, 20 Aug Tue, 24 Aug Wed, 25 Aug* Thu, 26 Aug Thu, 9 Sep Thu, 9 Sep Q3 2010 Trading Update Thu, 7 Oct Fri, 8 Oct* Mon, 11 Oct Financial Results, reviewed by auditors Fri, 19 Nov Wed, 24 Nov Thu, 25 Nov Mon, 29 Nov Thu, 25 Nov * By telephone

Definition of Black-Out Periods… …The Code* adheres to both Dutch and UK requirements for the definition of black-out periods:                                     the period of 60 days immediately preceding a preliminary announcement of the Company's annual results or of its annual financial report (or, if shorter, the period from the end of the relevant financial year up to and including the time of the announcement or publication); the period of 30 days immediately preceding the announcement of the Company's quarterly and/or half yearly results (or, if shorter, the period from the end of the relevant financial period up to and including the time of the announcement or publication); the period between the publication of the Company’s Trading Updates and the end of the immediately preceding quarterly financial period; the period of one month prior to the first publication of a prospectus with respect to an offer of securities (effecten) within the meaning of the Prospectus Directive to be issued by the Company, except if the period of decision-making prior to the publication of the prospectus is shorter than one month, in which case the trading prohibition will be applicable during this shorter period; or the period of twenty-one days before the announcement of an (interim) dividend; or any period when there exists any matter which constitutes Inside Information in relation to the relevant company. * Code of Conduct with Regard to Inside Information of X5 Retail Group

X5 Black-Out Periods 2010 2010 Publication Date 2010 Black-Out Periods Comments Q4 2009 Trading Update Tuesday, 19 January 2010 1 January – 19 January* Period from the end of the reporting period through the publication date FY 2009 Audited IFRS Results, SB, MB & CG Reports Thursday, 15 April 2010 14 February – 15 April* 60 days preceding the announcement Q1 2010 Period from the end of the reporting period through the publication date Trading Update Friday, 9 April 2010 1 April – 9 April* Q1 2010 Financial Results, reviewed by auditors Thursday, 27 May 2010 27 April – 27 May* 30 days preceding the announcement Q2 2010 Period from the end of the reporting period through the publication date Trading Update Friday, 9 July 2010 1 July – 9 July* Q2 2010 Financial Results, reviewed by auditors Thursday, 26 August 2010 27 July – 26 Aug* 30 days preceding the announcement Period from the end of the reporting period through the publication date Q3 2010 Trading Update Monday, 11 October 2010 1 October – 11 October* Q3 2010 Financial Results, reviewed by auditors Monday, 29 November 2010 30 October – 29 November* 30 days preceding the announcement * Both dates are included in the respective black-out period

X5 Black-Out Periods Calendar 2010