Independent Assurance Report

To REWE-ZENTRALFINANZ eG, Köln

We have been engaged to perform a limited assurance engagement on the description of the necessary materiality analysis and selected sustainability information of the Sustainability Report 2013/2104 of REWE-ZENTRALFINANZ eG, Köln, (hereinafter: “the Company”), for the business years from 1 January 2013 to 31 December 2014. 1 The sustainability information, which was selected by the Company and reviewed by us, is marked with the symbol () in the Sustainability Report.

Management’s Responsibility

The Company’s Board of Managing Directors is responsible for the accurate preparation of the Sustainability Report in accordance with the criteria stated in the Sustainability Reporting Guidelines G4 of the Global Reporting Initiative (GRI).

This responsibility includes the selection and application of appropriate methods to prepare the Sustainability Report and the use of assumptions and estimates for individual sustainability disclosures which are reasonable in the circumstances. Furthermore, the responsibility includes designing, implementing and maintaining systems and processes relevant for the preparation of the report.

Our Independence and Quality Control

We have complied with the independence and other ethical requirements of the Code of Ethics for Professional Accountants issued by the International Ethics Standards Board for Accountants (IESBA-Codex), which is founded on fundamental principles of integrity, objectivity, professional competence and due care, confidentiality and professional behavior.

The firm applies International Standard on Quality Control 1 and accordingly maintains a comprehensive system of quality control including documented policies and procedures regarding compliance with ethical requirements, professional standards and applicable legal and regulatory requirements.

Practitioner’s Responsibility

Our responsibility is to express a conclusion based on our work performed as to whether anything has come to our attention that causes us to believe that:

  • the description of the materiality analysis marked with the symbol () as required for a sustainability report to determine its content and the boundaries of its aspects is not in accordance with the criteria "Stakeholder Inclusiveness", "Sustainability Context", "Materiality” and "Completeness" of the GRI’s Sustainability Reporting Guidelines G 4 or that they were not used during the Sustainability Report’s preparation,
  • the management approaches marked with the symbol () in the Sustainability Report are not in accordance with the requirements of the standard disclosures G4-DMA of the Sustainability Reporting Guidelines G 4 or
  • the quantitative information marked with the symbol () in the Company’s Sustainability Report for the business years 2013/2014 is in material aspects not in accordance with the criteria „Completeness“, „Comparability“, „Accuracy”, “Clarity”, “Timeliness” and “Reliability” of the GRI’s Sustainability Reporting Guidelines G 4.

It was not part of our engagement to review product or services related information, references to external information sources, expert opinions and future-related statements in the Sustainability Report.

We also have been engaged to make recommendations for the further development of the sustainability management and the sustainability reporting based on the results of our assurance engagement.

We conducted our work in accordance with the International Standard on Assurance Engagements (ISAE) 3000 (Revised). This Standard requires that we comply with ethical requirements and plan and perform the assurance engagement, under consideration of materiality, in order to provide our conclusion with limited assurance.

In a limited assurance engagement the evidence-gathering procedures are more limited than for a reasonable assurance engagement and therefore less assurance is obtained than in a reasonable assurance engagement.

The procedures selected depend on the practitioner's judgment.

Within the scope of our work we performed amongst others the following procedures concerning the materiality analysis, management approaches and key data – for the aspects that are marked with the symbol ():

  • Inspection of the documents describing the CR-Strategy and CR-Management as well as obtaining an understanding of the organizational structure of CR;
  • Inquiries of personnel responsible for the preparation of the report as well as inquiries of coordinators of three lines of sustainability “Green Product”, “Energy, Climate and Environment” and “People” regarding the process to prepare the reporting of sustainability information;
  • Recording the systems and processes for collection of sustainability data, inspection of their documentation and validation on a sample basis;
  • Analytical procedures on relevant data;
  • Gaining further evidence for selected data of the report through inspection of internal documents, contracts and invoices by external service providers.

Conclusion

Based on our limited assurance engagement, nothing has come to our attention that causes us to believe that

  • the description of the materiality analysis marked with the symbol () as required for a sustainability report to determine its content and the boundaries of its aspects is not in accordance with the criteria "Stakeholder Inclusiveness", "Sustainability Context", "Materiality” and "Completeness" of the GRI’s Sustainability Reporting Guidelines G 4 or that they were not used during the Sustainability Report’s preparation,
  • the management approaches marked with the symbol () in the Sustainability Report are not in accordance with the requirements of the standard disclosures G4-DMA of the Sustainability Reporting Guidelines G 4 or
  • the quantitative information marked with the symbol () in the Company’s Sustainability Report for the business years 2013/2014 is in material aspects not in accordance with the criteria „Completeness“, „Comparability“, „Accuracy”, “Clarity”, “Timeliness” and “Reliability” of the GRI’s Sustainability Reporting Guidelines G 4.

Emphasis of Matter - Recommendations

Without qualifying our conclusion above, we make the following recommendations for the further development of the Company's sustainability management and sustainability reporting:

  • To formalize the various internal sustainability reporting requirements and to summarize it in a Group Guideline;
  • To strengthen the descriptions of the management approaches;
  • To integrate all consolidated companies into the sustainability reporting and to report annually.

Munich, 28 September 2015

PricewaterhouseCoopers
Aktiengesellschaft
Wirtschaftsprüfungsgesellschaft

Hendrik Fink
Wirtschaftsprüfer
(German Public Auditor)
ppa. Juliane v. Clausbruch

1 Our engagement applies to the German version of the Sustainability Report. This text is a translation of the Independent Assurance Report issued in German language - the German text is authoritative. The report is released online under www.rewe-group-nachhaltigkeitsbericht.de.