January, 2019Third Quarter 2018

Results

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Although the information presented in this document has been obtained from sources that Liverpool believes to be reliable, Liverpool does not make any representation as to its

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but not limited to, statements with respect to outlooks and growth prospects, liquidity, capital resources and capital expenditure, growth in demand for our products, economic

outlook and industry trends, development of our markets, competition in areas of our business; and plans to launch new products and services, and the effect of legal proceedings

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Any projections included herein have been prepared based on Liverpool’s views as of the date of this presentation of future events and financial performance and various

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prepared and are set out for illustrative purposes only, and do not constitute a forecast. While the projections are based on assumptions that Liverpool believes are reasonable

under the circumstances, they are subject to uncertainties, changes (including changes in economic, operational, political, legal, and other circumstances) and other risks, all of

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None of Liverpool, its affiliates, Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated or any of their respective directors, officers, employees,

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relied upon as a guarantee, promise or forecast or a representation as to the future. Liverpool undertakes no obligation to update the projections or any of the information

contained in this presentation. (3.0)

2

Omnichannel

Shared Services

136 stores

Middle class

Presence

throughout the

country

Presence

throughout the

country

131 stores

C and D

Presence

through 21

states

111 boutiques

Sfera, Pottery

Barn, GAP, etc.VISA cards

Liverpool &

Suburbia

Private label

cards Liverpool

& Suburbia

Presence

across 17

states

27 Shopping

malls

95% of

occupation

Insurance &

Affinity

3

Liverpool at a glance

$87,140M

Ʃ 3Q18

REVENUES

7.5% increase

Ʃ 3Q18 (YoY)

SSS1

$6,258M

Ʃ 3Q18

CAPEX

12.6%

Ʃ 3Q18

EBITDA MARGIN

$10,947M

Ʃ 3Q18

EBITDA

$2,043M

Ʃ 3Q18

OPERATING CF

54% of e-commerce

sales through

CLICK & COLLECT

46% of total retail

sales throughOUR CREDIT CARD

More than

4.8M

CARD HOLDERS

5 Liverpool Stores

7 Suburbia Stores

STORE OPENINGS (2018)

36.5% increase

Ʃ 3Q18 (YoY)E-COMMERCE SALES

Leading non-bank &

third largest CC issuer2

CREDIT DIVISION

1 For Suburbia & Liverpool, includes digital sales *Figures in MXP2 in Mexico. 4

Our Values, Mission and Vision

Values VisionMission

Productivity

Innovation

Integrity

Teamwork

We serve our customers

To be the most attractive option

everywhere,

everyday,

anytime.

in service,

assortment,

and value.

5

Mexico´s Socioeconomic & Demographic Analysis

Source: JP Morgan; Mexico 101

Average age is

27 years old

Around 45% of

the population is under 25 years old.

+129MTotal

population

The population growth rate decelerates (youngpopulation dependency

ratio decreases).

6

Opportunities for Brick & Mortars Growth

1 Citi Research, ICSC, and GGP2 Citi Research and ICSC

Mexico has relative low penetration of shopping malls and department stores 1

Mexico and other LatAm countries' GLA per 1000 inhabitants (in sqm) is significantly lower than developed markets´ 2

Note: only includes centers >10k sqm. Note: only includes centers >10k sqm.

7

e-Commerce in Mexico…

1 Statista 4 Forbes2 Scotiabank 3 HSBC

2017 e-commerce

concentration levels show that the industry hasn´t consolidated yet. 2

Over the next few years,

(Amazon, Liverpool, MercadoLibre, Linio & Walmex) dispute for

e-Commerce leadership. 2

USD $9,441Me-commerce market revenue in 2019 1

7.9%Expected revenue annual growth rate (2019-2023)1

USD $12,778MMarket revenue by 2023 1

47.2%User penetration in 2019 1

52.7%User penetration expected by 2023 1

Mexicans value lower prices and free shipping as the top

attributes for shopping online.

60% of population are

represented by Z generation & Millennials.

Internet penetration for

Z generation is 83% &

70% for Millennials 4

Conversion rates have ample

room to grow. 3

Click & Collectcustomers recognize it as necessary.

8

Omnichannel Right to Win

Retail Assortment &

Extended Catalog Private Label Credit Card

LeadingIT Platform

Logistics Infrastructure

•Click & Collect (+50% of

Liverpool e-commerce sales)Liverpool Brand

•Exclusive Brands

Store Network

Payment Solutions•Payment through the App•Sales Associates´ App

9

Omnichannel Initiatives 2018

50% of click share

from national market

for Liverpool.com 1

New Marketplace

launchSuburbia.com

Traceability

Post-sale services for

Liverpool and

Suburbia

Customer

personalization

Customer Experience

& Big Data

1 In the categories of Clothing, Footwear, and Bags.10

Online Customer Behavior

Over 5M followers in social media

+70% of payments through

Liverpool credit cards

228M visits in Liverpool.com

and 6M in Suburbia.com

Between 60 to 70% of sales in

stores are influenced by webpage or

mobile

36% of sales through mobile

devices

64% of sales through the

webpage

One of the most

downloaded Apps

*Total year figures11

Logistics Strategy

Supplier Delivery

Supplier

Distribution Center

Department Stores & Boutiques

DeliveryCustomer

+165M products delivered

by our DC1

2.2M homes visited

+800 hundred delivery trucks

Arco Norte start of

operations by 2021

1 On a 12 month base12

Logistics Strategy

+36Mimported goods

per year

+180KSKU´s

2 national DC:

Huehuetoca & Tultitlán

1 Central

Warehouse

95% of

SKU´s centrally received

4 Regional

Distribution Centers

21 Regional

Warehouses

+4.6MAnnual Home

Deliveries 1

+179Ksqm of Regional

Warehouses

+260Ksqm of our Central

Warehouse and national DC

1 Packages & Big ticket13

Logistics Strategy: Arco Norte

Hard LinesSoft Lines

20212022

BEST-IN-CLASSTECHNOLOGY & PROCESSES

SustainabilityFlexibility Scalability

Estimated CAPEX (2019-2021)

Estimated TOTAL CAPEX

$8.5MM mxp

$16.8MM mxp

Construction Space 1.2M sqmt

Land Area 175 hectares

14

Consolidation of our DCs operations

Strategy Going Forward

Strategic Priorities

InnovationGrowthProfitabilityImprovement

15

Liverpool´s Strategy

Productivity improvement:

Sales/m2, Margin,

Expenses/m2

Fábricas de Francia

transformation

New stores: 2019 3

Going forward 3~4

New Logistic

Platform

Customer

Personalization

Customer

Service

16

Suburbia’s Strategy

Maintain successful

business model: Price,

Design, Profitability

Accelerated

expansion to reach

250 total units by

2022.

Launch our own

credit card.

Omnichannel

launch Talent development

model.

Create CRM

capabilities.

Best in class IT

(S4/Hana)

17

Financial Businesses Strategy

Suburbia

CardProfitable credit

portfolio growth

Risk

Management

Digital

Transformation

Improve customer

experience

18

Galerías´ Strategy

Profitable Growth

Opportunities

Customer

Experience/Digitalization

Experiences &

Entertainment Offering

19

Omnichannel Strategy

Logistics: Shipments

consolidation &

delivery time

IT Platform

New payment

methods

Continue the

development of

Click & Collect

Extended CatalogImprove customer´s

shopping experience

/ Personalization

Marketplace

Launch

20

Fábricas de Francia Conversion

Transformation of 41 stores

2/3 will be Liverpool stores & the remainder, Suburbia stores2019

Operating efficiencies

Better customer identification

Value creation

21

Retail Sales 3Q2018

22

SSS

Average ticket

Traffic

SSS

Liverpool

Liverpool

Liverpool

Suburbia

Retail Sales Liverpool & Suburbia

3Q18 YTD

National Benchmark:

SSS

ANTADDepartment Stores

SSS9.8% 6.4%

5.3% 5.3%

3.5%

11.7% 13.2%

6.3% 6.6%

7.7% 12.4%

3.0%

3Q18 YTD

Sales Growth

7.5%8.6%

10.3%11.5%

9.5%8.7%

7.7%

5.8%

4.1%

6.1%5.1%

6.8%5.9%

7.4%6.3%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

14.0%

16.0%

18.0%

1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18

Liverpool Suburbia ANTAD Departamental Stores

11.3%

17.0%

11.7%

Same-store Sales Growth

Annual Growth:

Liverpool

Suburbia

TOTAL

201720162015 2018

9.8% 7.6% 5.8% 6.6%

13.2%

7.5%

23

Credit Card Division – 3Q18

4.3%4.4%

4.8%

3.7%

4.1%

4.4%

4.9%

4.0%

4.5%

5.0%

5.6%

4.5%

5.1%

5.7% 5.8%

-12.0%

-7.0%

-2.0%

3.0%

8.0%

13.0%

18.0%

23.0%

28.0%

33.0%

2.8%

3.3%

3.8%

4.3%

4.8%

5.3%

5.8%NPL % Change vs YA %

Millions

Initial balance of reserve

(+) New Reserves

(-) Write off

201720172018 Dif. %

3,640 2,969 2,516 22..6%

10.8%

31.6%

3rd Quarter YTD

Ending balance of reserve

2018

3,086

Dif. %

22.6%

771 937 2,527 2,800 -17.7%

(796) (588) (1,726) (2,271) 35.5%

8.9% - - 3,3183,615 -

24

Liverpool has a conservative debt structure with a very manageable maturity profile

100.0%

Fixed3,000

3,400

3,500

3,948

14,546

2018 2019 2020 2021 2022 2023 2024 2025 2026 2027

Local Bonds 144A Reg S

(3) Fully hedged in Pesos

By interest type:

14,546 (2)

3,948 (1)

Million Pesos (as of Sept. 30st 2018)

Total Debt: Mx$28,394.1

Average interest rate: 7.97%

Average life: 6.7 years

(1) LIVEPOL24 144A Reg S US$300 million, fixed exchange rate 13.15 MxPs/USD (2) LIVEPOL26 144A Reg S US$750 million, fixed exchange rate 19.39 MxPs/USD

By Instrument:

By currency:

34.9%

65.1%

Local Bonds

144A Reg S

1.1x1.2x

1.0x0.9x

1.6x1.8x

2.1x

1.5x

0.9x1.1x

0.6x0.4x

0.06x

0.87x

1.5x

1.2x

2012 2013 2014 2015 2016 2017 2017 3Q 2018 3Q

Debt/EBITDA Net debt/EBITDA

Leverage

25

34.9%

65.1%

Pesos

Synthetic Pesos (3)

Appendix

• Financial statements

• Main financial indicators

• Omnichannel sales growth

• Growth history

• Economic scenario

26

3Q18 3Q17 VAR % 2018 2017 VAR %

Total Income 29,244 27,026 8.2% 87,140 77,622 12.3%

Retail & Services 25,546 23,709 7.7% 76,250 67,837 12.4%

Consumer Finance 2,890 2,529 14.2% 8,347 7,452 12.0%

Leasing 809 787 2.7% 2,543 2,333 9.0%

COGS 17,464 16,385 6.6% 51,976 46,140 12.6%

as % of Total Income 59.7% 60.6% 59.6% 59.4%

Gross Profit 11,780 10,640 10.7% 35,164 31,482 11.7%

Gross Margin 40.3% 39.4% 40.4% 40.6%

SG&A 8,877 8,558 3.7% 26,648 23,820 11.9%

as % of Total Income 30.4% 31.7% 30.6% 30.7%

Operating Income 2,903 2,082 39.4% 8,516 7,661 11.1%

Financial Income 200 179 11.6% 689 453 52.2%

Financial Expenses 663 716 -7.4% 2,096 2,897 -27.7%

Other Income/(Expense) 95 122 -21.9% 430 420 2.4%

Income before taxes 2,535 1,667 52.1% 7,539 5,637 33.7%

Income Tax 618 411 50.5% 1,903 1,387 37.2%

Net Profit 1,917 1,256 52.6% 5,635 4,250 32.6%

EBITDA 3,723 2,963 25.7% 10,947 9,968 9.8%

as % of Total Income 12.7% 11.0% 12.6% 12.8%

Same stores growth Liverpool 6.3% 5.1% 6.6% 5.2%

Customer's Portfolio 30,174 29,293 3.0%

Reported Quarter Cumulative

(million MxPs)

3Q2018 Income Statement

27

Sept 18 Sept 17 Chg % vs YA

Cash / cash equivalent 5,971 10,660 -4,689 -44.0%

Loan portfolio 30,174 29,293 881 3.0%

Inventories 23,616 22,004 1,612 7.3%

Investment in associates 7,844 6,908 936 13.5%

Fixed assets 46,353 43,790 2,563 5.9%

Investment properties 20,034 17,967 2,067 11.5%

Other 28,635 25,871 2,764 10.7%

Total assets 162,626 156,494 6,132 3.9%

Suppliers 19,554 18,276 1,279 7.0%

Short term loans - 2,859 -2,859 -100.0%

Long term loans 29,559 33,029 -3,470 -10.5%

Other liabilities 20,081 20,792 -711 -3.4%

Total liabilities 69,194 74,956 -5,762 -7.7%

Stockholders equity 93,432 81,538 11,894 14.6%

(million MxPs)

3Q2018 Balance Sheet

28

2017 2016 2015

Operating Income 15,231.7 13,406.4 12,655.3

Depreciation and amortization 3,118.8 2,644.5 2,215.1

EBITDA 18,350.5 16,050.9 14,870.4

Interests (2,677.4) (1,020.2) (970.0)

Taxes (4,438.2) (3,678.2) (4,645.2)

Workig Capital 801.8 (1,083.2) (1,045.3)

Other 10.6 1,422.1 442.0

Cashflow from operations 12,047.4 11,691.4 8,651.9

Capex (8,143.0) (7,958.2) (4,873.1)

Cashflow before dividends 3,904.4 3,733.2 3,778.8

Dividends (1,288.3) (1,288.4) (1,087.1)

Cashflow 2,616.1 2,444.8 2,691.8

Suburbia acquisition (18,205.2) 0.0 0.0

Debt 6,650.0 14,546.20 0.0

Increase / (decrease) (8,939.2) 16,991.0 2,691.8

(Million MxPs)

Cash flow

29

2018 2017 Change

Operating Income 8,515.6 7,661.5 854.1

Depreciation and amortization 2,431.0 2,306.1 124.9

EBITDA 10,946.6 9,967.6 979.0

Interests (1,700.5) (1,456.6) (243.9)

Taxes (3,645.4) (3,489.6) (155.8)

Workig Capital (3,144.0) (2,604.1) (539.9)

Other (413.3) (1,916.4) 1,503.1

Cashflow from operations 2,043.5 500.9 1,542.5

Capex (6,257.9) (4,498.9) (1,759.0)

Cashflow before dividends (4,214.4) (3,997.9) (216.5)

Dividends (778.4) (778.4) 0.0

Cashflow (4,992.8) (778.4) (4,214.4)

Suburbia acquisition 0.0 (18,038.0) 18,038.0

Debt (5,671.5) 7,900.0 (13,571.5)

Increase / (decrease) (10,664.3) (14,914.3) 4,250.1

(Million MxPs)

3Q2018 Cash flow

30

$8,562

$6,545

$4,970 $4,873

$7,958 $8,143

$4,499

$6,258

2 0 1 2 2 0 1 3 2 0 1 4 2 0 1 5 2 0 1 6 2 0 1 7 2 0 1 7 3 Q

2 0 1 8 3 Q

Strong financial performance with robust cash flow generation and disciplined leverage policy

Liverpool has been a consistent performer, delivering solid results throughout the years

Capex(Ps $ in millions)

$66,247$74,504

$81,214$91,293

$100,442

$121,168

$77,622$87,140

2012 2013 2014 2015 2016 2017 2017 Σ3Q

2018 Σ3Q

Same store sales growth

8% 5%

6%7%

Revenues(Ps $ in millions)

7%

7%10%

6%

$11,769$12,536$13,024

$14,870$16,051

$18,350

$9,968$10,947

17.8%16.9% 16.1% 16.3% 16.0%

15.0%

12.8%

12.6%

6.0%

11.0%

16.0%

21.0%

26.0%

1,000

3,000

5,000

7,000

9,000

11,000

13,000

15,000

17,000

2012 2013 2014 2015 2016 2017 2017 Σ3Q

2018 Σ3Q

EBITDA and EBITDA margin(Ps $ in millions)

Operating Cash flow(Ps $ in millions)

$6,414 $6,506

$4,821

$8,652

$11,691 $12,047

$501

$2,044

2 0 1 2 2 0 1 3 2 0 1 4 2 0 1 5 2 0 1 6 2 0 1 7 2 0 1 7 3 Q

2 0 1 8 3 Q

31

Omnichannel Sales Growth

Liverpool Internet salesPesos (millions)

3.8%2.7%1.9%1.1%0.5%0.3%

Percentage of retail sales

188 341

779

1,463

2,403

3,546

-

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

2012 2013 2014 2015 2016 2017

Liverpool was the first retailer in Mexico to implement Omnichannel.

32

Historically, Liverpool has reinvested its profits to expand its operations(Number of Stores)(1)

Profitable growth and significant value creation through the development of a dense

network of stores across Mexico and selected acquisitions

Source: Company website and annual reports.(1) Includes Liverpool and Fábricas de Francia formats. Does not include Suburbia

1982 – Inaugurates its first stores

outside of Mexico City

1988 – Acquisition of Fábricas de

Francia, incorporating 5 more stores

1997 – Acquisition of Las Galas, a

department store chain with 7 outlets

1934 – First Liverpool department

store inaugurated in Mexico City

1962 – Second Liverpool opens in

Insurgentes, Mexico City

2013 – Reaches 100 department stores

Compelling story of disciplined growth for the last 170 years

1998 – Acquisition of Salinas y Rocha, allowing

Liverpool to increase its portfolio by 11 stores

1965 – Launches IPO in the

Mexican Stock Market

2017 – Liverpool buys 100% of Suburbia

with its 122 stores (April)

1980 – Liverpool begins to operate

the Perisur mall, being its first real

estate operation

1847 – J.B. Ebrard arrives to Mexico

City from France

33

Mexico´s key economic figures

Remittances

Wages

Employment

Consumer Confidence

Source: BofA ML34

Mexico´s key economic figures

3

3.5

4

4.5

5

5.5

6

6.5

7

Annual Inflation

Inflación Salarios (Nominal)Inflation Wages (Nominal)

1

2

3

4

5

ene feb mzo abr may jun jul agto sep

Private Consumption (%)

35

Contact Informationemgrinang@liverpool.com.mx

IR: www.elpuertodeliverpool.mxwww.liverpool.com.mx

Stock Information

Bolsa Mexicana de Valores (BMV): LIVEPOL