II. Activities related to corporate practices:

 

a. We obtained current information on the process of evaluating the performance of senior management. No actions were detected or reported by senior management that were not in accordance with the legal framework for such actions, taking into account the circumstances under which they were carried out.

 

b. We reviewed the reports of transactions with related parties; these were carried out under market conditions and within the limits established in the Securities Market Law.

 

c. We reviewed the integral compensation packages and criteria for awards for the Chief Executive Officer and senior management and found no justification for any comments because they were within the policies established by the Board of Directors.

 

d. There were no exemptions of any kind contemplated by article 28, Section III, paragraph f) of the Securities Market Law during this fiscal period.

 

e. The corporate policies of the Company were analyzed and approval thereof was ratified.

 

Based on the reviews and comments set forth above and on the opinion on the financial information expressed by the Independent Auditor Galaz, Yamazaki, Ruiz Urquiza, S.C., the Committee believes that Grupo Comercial Chedraui, S.A.B. de C.V. has applied accounting policies and criteria appropriately and therefore its financial information is reasonable. Accordingly, it is RECOMMENDED to the Board of Directors that the audited consolidated financial statements of the Company for the fiscal year ended on December 31, 2012 be approved so that they may be included in the Annual Report of the Chief Executive Officer for fiscal year 2012 that is to be submitted at the appropriate time for approval at the Company’s Shareholders’ Meeting.

 

Sincerely,

Committee on Auditing and Corporate Practices

 

 

 

 

 

 

 

 

 

 

Clemente Ismael Reyes-Retana Valdés

Chairman

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