CHILE - In 2018 Cencosud continues to execute its Financial Strengthening and Business Profitability Plan, which is expected to achieve Consolidated Revenue equivalent to USD 16,500 million1 in 2018, subject to exchange rate fluctuations against the Chilean peso.

This is based on an acceleration in sales in Supermarkets, Home Improvement and Department Stores, in addition to significant growth of the online business, a continuation of strong performance in Shopping Center revenues, store openings and a better regional economic environment.

In addition, Cencosud expects to achieve an Adjusted EBITDA margin of 7.2% in 2018, driven by improvements across business divisions, as a result of the profitability plan and operational leverage, supported by stronger consumption, particularly in the Argentine market and the 4 other countries where Cencosud operates.

The Capex Plan for 2018 includes a base investment plan of USD 400 million, which could be revised upwards as the plan to divest non-core assets of up to USD 1,000 million is executed. Investments remain focused on strengthening our value proposition and store competitiveness, innovation, improvements in logistics and technological capabilities, Omni- channel development, selective store openings, and the development of the remodeling plan. The Company also expects to continue to make headway in the construction of La Molina Shopping Center in Lima, Peru and La 65 in Medellin, Colombia. The investment plan also includes the development of new Shopping Centers and the expansion of existing Shopping Centers in the region.