2010 Corporate Calendar incl. release and black-out dates

1. 2010 Corporate Calendarincl. release and black-out dates As of 30 December 2009

2. Corporate Calendar 2010 Final Version of Financials to SB/AC Press Release to AC Publication Date AC Meeting SB Meeting Q4 2009 Mon, 18Jan* Trading Update Tue, 19 Jan Fri, 15 Jan Thu, 4 March Thu, 4 March FY 2009 Fri, 2 Apr Audited IFRS Results, SB, MB & CG Reports Tue, 6 Apr Thu, 8 Apr Mon, 12 Apr Thu, 8 Apr Q1 2010 Trading Update Thu, 8 Apr Wed, 7 Apr Fri, 9 Apr Tue, 25 May Wed, 26 May* Fri, 21 May Financial Results, reviewed by auditors Thu, 27 May 10 Jun AGM Tue-Wed, 6-7 Jul Strategy Committee Meeting Q2 2010 Trading Update Wed, 7 Jul Thu, 8 Jul Fri, 9 Jul Thu, 8 Jul Wed, 25Aug* Fri, 20 Aug Tue, 24 Aug Thu, 26 Aug Financial Results, reviewed by auditors Thu, 9Sep Thu, 9Sep Q3 2010 Thu, 7 Oct Trading Update Mon, 11 Oct Fri, 8Oct* Financial Results, reviewed by auditors Wed, 24 Nov Thu, 25 Nov Thu, 25 Nov Fri, 19 Nov Mon, 29 Nov * By telephone

3. 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

4. X5 Black-Out Periods 2010 2010 Publication Date 2010 Black-Out Periods Comments Period from the end of the reporting period through the publication date Q4 2009 1 January – 19 January* Tuesday, 19 January 2010 Trading Update Audited IFRS Results, SB, MB & CG Reports FY 2009 60 days preceding the announcement Monday, 12 April 2010 11 February – 12 April* Period from the end of the reporting period through the publication date Q1 2010 Trading Update Friday, 9 April 2010 1 April – 9 April* Financial Results, reviewed by auditors Q1 2010 Thursday, 27 May 2010 27 April – 27 May* 30 days preceding the announcement Period from the end of the reporting period through the publication date Q2 2010 Trading Update Friday, 9July 2010 1 July – 9 July* Financial Results, reviewed by auditors Q2 2010 30 days preceding the announcement 27 July – 26 Aug* Thursday, 26 August 2010 Period from the end of the reporting period through the publication date Q3 2010 1 October – 11 October* Monday, 11 October 2010 Trading Update Q3 2010 30 days preceding the announcement Monday, 29 November 2010 30 October – 29 November* Financial Results, reviewed by auditors * Both dates are included in the respective black-out period

5. X5 Black-Out Periods Calendar 2010