1. Kroger Insight Deck By Sandy Skrovan Research Director - US July 2012 A Service © Kroger

2. 2 Contents 1.Introduction 2.Major Strategic Initiatives 3.Key Markets 4.Conclusions & Implications 5.Further Reading All data correct at time of publishing.

3. 3 Introduction

4. 4 Corporate Structure Introduction1 Kroger’s core business - conducted solely in the USA - is comprised of 18 grocery divisions and five convenience store chains. Kroger also maintains fine jewellery store operations (acquired in the 1999 Fred Meyer takeover) and manufacturing facilities that mainly supply the retailer’s private label products. Jewellery Fred Meyer Jewelers Grocery Kroger (nine divisions): - Kroger Atlanta - Kroger Central - Kroger Cincinnati - Kroger Columbus - Kroger Delta - Kroger Michigan - Kroger Mid-Atlantic - Kroger Mid-South - Kroger Southwest Ralphs Dillons Food Stores Fry’s Food Stores Fred Meyer King Soopers Smith’s Food & Drug Centers Food4Less Jay C Food Store QFC Quality Food Centers Manufacturing 39 plants C-Stores Kwik Shop Loaf ‘N Jug Quik Stop Markets Tom Thumb Food Stores Turkey Hill Minit Markets

5. 5 Key Management Introduction1 Jewellery Operating Unit Head Fred Meyer Jewelers Peter Engel Grocery Operating Unit Heads Ralphs Donna Giordano Dillons Food Stores Joseph Grieshaber Fry’s Food Stores Jon Flora Fred Meyer Michael Ellis King Soopers Russell Dispense Smith’s Food & Drug Mark Tuffin Food4Less Bryan Kaltenbach Kroger (nine divisions): - Kroger Atlanta: Bruce A Lucia - Kroger Central: Robert Moeder - Kroger Cincinnati: Sukanya Madlinger - Kroger Columbus: Bruce A Macaulay - Kroger Delta: Tim Brown - Kroger Michigan: Rick Going - Kroger Mid-Atlantic: Jay Cummins - Kroger Mid-South: John P Hackett - Kroger Southwest: William H Breetz Jr Jay C Food Store Paul Bowen QFC Joe Fey C-Stores Operating Unit Heads Kwik Shop Jeff Parker Loaf ‘N Jug Art Stawski Quik Stop Markets Ron Stewart Tom Thumb Mark Salisbury Turkey Hill Darel Pfieff CEO: David Dillon President & COO: Rodney McMullen Other Key Executives: CFO: Michael Schlotman SVP – Retail Ops: Geoffrey Covert