E-MART Co., Ltd.

Separate Statements of Financial Position December 31, 2012 and 2011

(In millions of Korean won) Notes Assets Current assets Cash and cash equivalents Trade and other receivables Inventories Other short-term financial assets Other current assets Total current assets Non-current assets Property, plant and equipment Investment property Intangible assets Investments in associates and jointly controlled entities Available-for-sale financial assets Long-term derivative assets Other long-term financial assets Other non-current assets Total non-current assets Total assets 2012 2011

4,6,7 4,6,9,37 10 4,6,16 17

15,441 246,425 530,008 58,000 26,533 876,407

23,402 214,993 479,218 39,800 40,861 798,274

11 11 12 13 4,6,14 4,6,15 4,6,8,16 17

7,508,479 176,260 34,208 739,872 1,415,640 333,590 258,598 10,466,647 \11,343,054

7,066,969 188,720 31,030 711,197 1,214,910 24,518 331,098 254,300 9,822,742 \10,621,016

E-MART Co., Ltd.

Separate Statements of Financial Position December 31, 2012 and 2011
(In millions of Korean won) Notes Liabilities and Equity Current liabilities Trade and other payables Short-term borrowings Short-term derivative liabilities Gift vouchers payable Income taxes payable Other short-term financial liabilities Other current liabilities Total current liabilities Non-current liabilities Long-term borrowings Long-term derivative liabilities Retirement benefit obligations Deferred income tax liabilities Other long-term financial liabilities Other non-current liabilities Total non-current liabilities Total liabilities Equity Capital stock Capital surplus Retained earnings Other components of equity Total equity Total liabilities and equity 24 24 25 26 139,379 4,193,534 501,460 1,101,117 139,379 4,193,534 238,276 934,821 4,6,19 4,6,15 20 33 4,6,21 22 1,768,697 30,121 70,383 453,953 134,401 48,377 2,505,932 5,407,564 1,753,128 7,299 67,752 402,381 131,781 53,889 2,416,230 5,115,006 4,6,21 22,23 4,6,18,37 \ 4,6,19 4,6,15 958,099 \ 1,240,885 35,401 319,985 79,730 207,914 59,618 2,901,632 982,828 1,112,683 9,482 280,776 104,816 193,435 14,756 2,698,776 2012 2011

5,935,490 5,506,010 \11,343,054 \10,621,016

The accompanying notes are an integral part of these separate financial statements.

E-MART Co., Ltd.

Separate Statements of Income Year Ended December 31, 2012 and Eight-month Period Ended December 31, 2011
(In millions of Korean won, except per share amounts) Notes 2012 2011

Sales Cost of sales Gross profit Selling and administrative expenses Operating profit Other income Other expenses Financial income Financial expense Impairement losses Profit before income tax Income tax expense Profit for the period Earnings per share Basic earnings per share Diluted earnings per share

\10,939,021 \7,220,977 7,782,434 5,153,351 3,156,587 2,067,626 28,29,30,37 2,380,656 1,474,493 5 775,931 593,133 31 14,931 11,664 31 23,041 9,456 32 162,870 149,955 32 245,339 199,875 13 219,296 182,568 466,056 362,853 33 158,729 115,258 \ 307,327 \ 247,595 5,27,37 28,37 34 \ \ 11,029 11,029 \ \ 8,886 8,886

The accompanying notes are an integral part of these separate financial statements.

E-MART Co., Ltd.

Separate Statements of Comprehensive Income Year Ended December 31, 2012 and Eight-month Period Ended December 31, 2011
(In millions of Korean won) Notes 2012 2011

Profit for the period Other comprehensive income (loss) Change in value of available-for-sale financial assets Gains (losses) on valuation of derivatives Actuarial losses Income tax of other comprehensive income Other comprehensive income (loss), net of tax Total comprehensive income for the period

\ 307,327

\ 247,595

6 15 20 26,33

200,729 18,660 (30,666) (45,671) 143,052 \ 450,379

(235,965) (13,822) (9,319) 28,987 (230,119) \ 17,476

The accompanying notes are an integral part of these separate financial statements.

E-MART Co., Ltd.

Separate Statements of Changes in Equity Year Ended December 31, 2012 and Eight-month Period Ended December 31, 2011
(In millions of Korean won) Capital stock \ 139,379 Capital surplus \ 4,194,251 Retained earnings \ 247,595 (9,319) (9,319) 238,276 Other components of equity \ 1,158,222 (210,528) (10,272) (220,800) (220,800) Total equity \ 5,491,852 247,595 (210,528) (10,272) (9,319) (230,119) 17,476

Balance as of May 1, 2011 Comprehensive income Profit for the period Other comprehensive income(loss) Change in value of available-for-sale financial assets Gains(losses) on valuation of derivatives Actuarial losses Total other comprehensive income Total Comprehensive income Transactions with owners Acquisition of treasury stock Others Total transactions with owners Balance as of December 31, 2011

139,379

(717) (717) 4,193,534

238,276

(2,601) (2,601) 934,821

(2,601) (717) (3,318) 5,506,010

E-MART Co., Ltd.

Separate Statements of Changes in Equity Year Ended December 31, 2012 and Eight-month Period Ended December 31, 2011
(In millions of Korean won) Capital stock \ 139,379 Other Capital Retained components surplus earnings of equity \ 4,193,534 \ 238,276 \ 934,821 307,327 (23,245) (23,245) 284,082 152,153 14,144 166,297 166,297 Total equity 5,506,010 307,327 152,153 14,144 (23,245) 143,052 450,379

Balance as of January 1, 2012 Comprehensive income Profit for the year Other comprehensive income (loss) Change in value of available-for-sale financial assets Gains (losses) on valuation of derivatives Actuarial losses Total other comprehensive income Total Comprehensive income Transactions with owners Year-end dividends paid Acquisition of treasury stock Total transactions with owners Balance as of December 31, 2012

139,379

4,193,534 \

(20,898) (20,898) 501,460 \

(1) (1) 1,101,117

(20,898) (1) (20,899) 5,935,490

The accompanying notes are an integral part of these separate financial statements. 8

E-MART Co., Ltd.

Separate Statements of Cash Flows Year Ended December 31, 2012 and Eight-month Period Ended December 31, 2011
(In millions of Korean won) Notes Cash flows from operating activities Cash generated from operations Interest paid Interest received Dividends received Income tax paid Net cash generated from operating activities Cash flows from investing activities Proceeds from disposal of property, plant and equipment Acquisition of property, plant and equipment Acquisition of investment property Proceeds from disposal of intangible assets Acquisition of intangible assets Acquisition of new subsidiaries Acquisition of additional shares in existing subsidiaries Net cash used in investing activities Cash flows from financing activities Increase in borrowings Repayment of borrowings Increase(Decrease) in derivatives Dividends paid Purchase of treasury stock Payment of incorporation expenses Net cash generated from used in financing activities Net increase(decrease) in cash and cash equivalents Cash and Cash equivalents Beginning of the period End of the period 1,068,005 (830,660) (19,689) (20,896) (1) 196,759 887,900 (936,954) 49,239 (2,600) (717) (3,132) 35 \ 983,958 (111,115) 1,679 31,363 (177,913) 727,972 \ 684,455 (84,211) 610 29,525 (33) 630,346 2012 2011

41,155 (731,746) 1,679 (8,713) (171,465) (63,602) (932,692)

902 (335,130) (193) 4 (3,307) (225,514) (59,216) (622,454)

(7,961) 23,402 \ 15,441

4,760 18,642 \ 23,402

The accompanying notes are an integral part of these separate financial statements.