COMMERZBANK GERMAN INVESTMENT SEMINAR. New York, 13 January 2016

COMMERZBANK GERMAN INVESTMENT SEMINAR New York, 13 January 2016

DISCLAIMER AND NOTES To the extent that statements in this presentation do not relate to historical or current facts, they constitute forward-looking statements. All forward-looking statements herein are based on certain expectations and assumptions at the time of publication of this presentation and are subject to risks and uncertainties that could cause actual results, performance or financial position to differ materially from any future results, performance or financial position expressed or implied in this presentation. Many of these risks and uncertainties relate to factors that are beyond METRO GROUP s ability to control or estimate precisely. The risks and uncertainties to which these forwardlooking statements may be subject include (without limitation) future market and economic conditions, the behaviour of other market participants, invest in innovative sales formats, expand in online and multichannel sales activities, integrate acquired businesses and achieve anticipated cost savings and productivity gains, and the actions of government regulators. Readers are cautioned not to place reliance on these forward-looking statements. See also Risk and Opportunity Report on pages 121-138 of the METRO GROUP Annual Report 2014/15 for risks as of the date of such Annual Report. METRO GROUP does not undertake any obligation to publicly update any forward-looking statements or to conform them to events or circumstances after the date of this presentation. This presentation is intended for information only. It is not intended as an offer for sale, or as a solicitation of an offer to purchase, any securities in any jurisdiction. This presentation may not be reproduced, distributed or published without prior written consent of METRO AG. All numbers are before special items, unless otherwise stated. The consolidated financial statements have been prepared in euros. All amounts are stated in million euros ( million) unless otherwise indicated. Amounts below 0.5 million are rounded and reported as 0. Since 2012, only the amounts in the income statement, the reconciliation from profit or loss for the period to total comprehensive income, the balance sheet, the statement of changes in equity and the cash flow statement were rounded to produce the respective totals. In all other tables, the individual amounts and the totals were rounded separately. This may entail rounding differences. Following the signing of the agreement to sell the department store business including the corresponding real estate assets of the Galeria Kaufhof group, this sales line is no longer reported as a separate segment and as part of the continuing operations of METRO GROUP as of the third quarter 2014/15, but as a discontinued operation. Accordingly, METRO GROUP s data for financial year 2014/15 have been recalculated to account for the disposal of Galeria Kaufhof and the previous year s figures have been adjusted (with the exception of the balance sheet and the respective notes to the balance sheet).the sale was closed on 30 September 2015. 13 January 2016 METRO AG 2016 1

AGENDA 01 Strong Progress Made in 2014/15 3 02 Financials FY 2014/15 10 03 Strategic Update 23 04 Outlook 2015/16 40 13 January 2016 METRO AG 2016 2

TRANSFORMATION OF METRO GROUP 13 January 2016 METRO AG 2016 3

TRANSFORMATION OF METRO GROUP ACQUISITIONS START-UP INV. / ACCELERATORS BUSINESS INNOVATION STRATEGY MODERNISATION OF OUR BUSINESS MODEL FOCUS PORTFOLIO OPTIMISATION DEBT REDUCTION SUSTAINABILITY CORPORATE CULTURE, MANAGEMENT CULTURE, EMPLOYEE ENGAGEMENT CUSTOMER-CENTRIC STRATEGIES 2012 2013 2014 2015 13 January 2016 METRO AG 2016 4

TRANSFORMATION OF METRO GROUP ACQUISITIONS START-UP INV. / ACCELERATORS BUSINESS INNOVATION STRATEGY MODERNISATION OF OUR BUSINESS MODEL FOCUS PORTFOLIO OPTIMISATION DEBT REDUCTION SUSTAINABILITY CORPORATE CULTURE, MANAGEMENT CULTURE, EMPLOYEE ENGAGEMENT CUSTOMER-CENTRIC STRATEGIES 2012 2013 2014 2015 13 January 2016 METRO AG 2016 5

ONCE AGAIN ALL TARGETS ACHIEVED Persistent major challenges Sluggish economic environment Geopolitical crisis Volatile emerging market currencies Nevertheless major achievements Continued positive LfL sales growth at METRO Cash & Carry and Media-Saturn Sales line transformation moving forward Implementation of new business model started Ongoing active portfolio management Higher sales, better earnings, stronger balance sheet LfL Sales EBIT* EPS Net Debt *adjusted for FX +1.5% 1,511 million 1.91 2,527 million 13 January 2016 METRO AG 2016 6

INNOVATION ACCELERATED - DIGITALISATION STARTED Digital HORECA Accelerator @ METRO Cash & Carry and Media-Saturn 360 degree approach @ Media-Saturn Further expansion in delivery and online Additional investments in new businesses Delivery Sales 2013/14 2.8 billion 2014/15 2020 3.1 billion Online Sales 2013/14 1.4 billion 2014/15 1.8 billion 2020 13 January 2016 METRO AG 2016 7

SUSTAINABILITY: INDUSTRY GROUP LEADER Achievements METRO GROUP Pursuit of sustainable business for our customers, employees, shareholders and the environment Award from EHI Retail Institute for traceability solution METRO GROUP presented for the 1 st time at a SRI Conference Rewards Membership of FTSE4Good Europe and Global Indices reconfirmed Sector leader Consumer Staples and Index Leader MDAX at the CDP with a new record of 99 out of 100 points Again, listing in Dow Jones Sustainability Europe and World Indices: METRO GROUP became the Industry Group Leader in the Food & Staples Retailing category New Target: Reducing GHG emissions per sqm by 50% in 2030 (compared to 2011) 13 January 2016 METRO AG 2016 8

AGENDA 01 Strong Progress Made in 2014/15 3 02 Financials FY 2014/15 10 03 Strategic Update 23 04 Outlook 2015/16 40 13 January 2016 METRO AG 2016 9

FY 2014/15: ONGOING CHALLENGES MANAGED Sluggish economic environment (Global real GDP growth of 2.4%) Geopolitical crisis (Russian economy under pressure) Weak emerging market currencies weighing on results Sales: -1.0 billion EBIT: -117 million Western Europe back on track (real GDP growth in Spain ~3% and Italy ~1%) Import restrictions in Russia well balanced by local sourcing amongst others Further improvement of financial profile Positive strong operational performance despite demanding environment 13 January 2016 METRO AG 2016 10

FY 2014/15: ONCE AGAIN ALL FINANCIAL TARGETS ACHIEVED billlion Reported FY 2013/14 Guidance FY 2014/15 Reported FY 2014/15 LfL sales growth +0.1% >0% +1.5% EBIT before special items 1,531 >1,531 1 1,511 Capex 1.0 ~1.5 1.4 Net debt 4.7 <3.2 2.5 Number of new store openings 68 ~50 58 1 Based on constant foreign exchange rates (1,531-117 (FX) = 1,414) Strong base for future profitable growth 13 January 2016 METRO AG 2016 11

EBIT FY 2014/15: COMPARABLE EBIT IMPROVED BY ~ 100 MILLION +97 in million 454 1,531 -~117 ~1,414 800 1,511 1) ~114 ~154 1) 1,077 711 FY 2013/14 (Reported) Special items FY 2013/14 (Before Special Items) Negative FX Impact FY 2013/14 (Comparable Before Special Items) FY 2014/15 (Reported) Special Items 1) Real Estate Gains from Divestments FY 2014/15 (Before Special Items) 13 January 2016 METRO AG 2016 12

FY 2014/15: SALES AND EBIT BY DIVISION Δ Sales Like-for-Like EBIT EBIT EBIT FY 2014/15 FY 2014/15 Change Change reported comparable reported vs FY 2013/14 million METRO Cash & Carry 29,690-2.7% 0.9% FY 2013/14 1,125 FY 2013/14 ~987 FY 2014/15 1,050 comparable +63 Media-Saturn 21,737 3.6% 3.1% 335 ~356 442 +86 Real 7,735-8.3% -0.8% 81 81 88 +7 Others 56 - - -10-10 -63-53 Consolidation - - - 0 0-5 -6 METRO GROUP 59,219-1.2% 1.5% 1,531 ~1,414 1,511 +97 Others 9 th consecutive quarter with LfL growth; comparable EBIT noticeable above PY level 5 th consecutive quarter with strong LfL growth driven by all regions; strong operational performance led to clear EBIT improvement LfL performance on previous year level due to the challenging overall environment; EBIT supported by new cooperation with Markant and ongoing tight cost control Impacted by lower rental income as well as additional rental and project costs 13 January 2016 METRO AG 2016 13

FY 2014/15: INCOME STATEMENT (EBIT TO EPS) million FY 2013/14 FY 2014/15 Change EBIT 1,531 1,511-20 Net financial result -471-444 +27 EBT 1,060 1,067 +7 Income Taxes -572-518 +54 Profit or loss for the period from discontinued operations after tax 185 139-46 Profit or loss for the period 673 688 +15 Non-controlling interests 73 63-10 EPS in 1.84 1.91 +0.07 Net financial result strongly improved mainly due to better interest result Tax rate of 48.6% in FY 2014/15 in line with expectations EPS before special items improved by 0.07 to 1.91 Proposal to increase dividend to 1.00 per ordinary share 13 January 2016 METRO AG 2016 14

REFINANCING OF HIGH INTEREST BONDS AND LOW INTEREST ENVIRONMENT SUPPORTING INTEREST RESULT Recently matured bonds 600 million, 5.75%, July 2014 1,000 million, 7.625%, March 2015 Bond issued in October 2014 ( 500 million) Low coupon of 1.375% with tenor of 7 years Pre-financing of the bond due in March 2015 Bond issued in March 2015 ( 600 million) Low coupon of 1.5% benefiting from attractive market window Debut benchmark transaction with tenor of 10 years Lock in the attractive interest level Interest Result in million 2013/14 2014/15 2015/16E -280 Expected further improvement of interest result in 2015/16-376 +26% METRO with excellent standing on debt capital markets and well-balanced maturity profile 13 January 2016 METRO AG 2016 15

IMPROVEMENT OF NET FINANCIAL RESULT COVERS IMPACT OF CURRENCY EXCHANGE EFFECTS in million Adjusted for unhedged currency effects 2013/14 2014/15 2013/14 2014/15-471 -444-420 -356 +27 +64 13 January 2016 METRO AG 2016 16

FY 2014/15: TAX RATE AS PART OF THE TRANSFORMATION PROCESS Despite the impact of the sale of Galeria Kaufhof tax rate with 48.6% already lower than in previous year Further reduction of tax rate to a level of round about 35% targeted 54.0% 48.6% ~35% Cash tax rate at ~33% in FY 2014/15 FY 2013/14 FY 2014/15 Midterm 13 January 2016 METRO AG 2016 17

FY 2014/15: NET DEBT STRONGLY IMPROVED in million 7,734-5bn 3,245 5,391 2,402 4,655 1,509 2,527 30.09.2012 31.12.2012 30.09.2013 31.12.2013 30.09.2014 31.12.2014 30.09.2015 31.12.2015 Net debt significantly reduced by more than 5 billion over the last three years Average net debt 2014/15 at ~ 3.4 billion 13 January 2016 METRO AG 2016 18

SPECIAL ITEMS million FY 2013/14 FY 2014/15 Portfolio Optimisation Measures 19-23 Restructuring and Efficiency- Enhancing Measures 264 285 Goodwill-Impairments 88 472 Others 83 66 Discontinued operations - -840 METRO GROUP 454-40 METRO Cash & Carry: portfolio optimisation and restructuring Media-Saturn: portfolio and efficiency measures like reduction of selling space Real: impairment and store closings Discontinued operations: EBIT impact of Galeria Kaufhof sale 13 January 2016 METRO AG 2016 19

NEW LOGISTICS NETWORK IN GERMANY TO IMPROVE EFFICIENCY New locations and more efficient processes Target Network 2018 to become significantly more competitive Investments in the high double-digit million euro range Higher product availability, quality and freshness Witten Velbert Hamm Bremen Altlandsberg Reichenbach Worms Groß-Gerau Annual savings in the medium Bergkirchen double-digit million euro range expected = New distribution centres or extension = Existing distribution centres 13 January 2016 METRO AG 2016 20

FINANCIAL PRIORITIES 2015/16 Enhancement of financial value potentials Further bolt-on acquisitions to support strategic development Continuing tight cost control Optimising net working capital and cash flow management Further strengthening balance sheet Mix of further strengthened financial profile and investments into strategic growth opportunities to achieve sustainable value creation for our shareholders 13 January 2016 METRO AG 2016 21

AGENDA 01 Strong Progress Made in 2014/15 3 02 Financials FY 2014/15 10 03 Strategic Update 23 04 Outlook 2015/16 40 13 January 2016 METRO AG 2016 22

METRO CASH & CARRY: HIGHLIGHTS FY 2014/15 LfL sales up by 0.9% with positive development in all quarters Western Europe with positive LfL growth in France, Italy, Spain and Portugal Eastern Europe with positive LfL growth in almost every country Asia with LfL growth in India and Japan LfL Food sales +2.1% emphasises superior distinguished expertise Delivery sales increased by 13.7% to 3.1 billion 22 new store openings, 24 store closures including closure of 5 stores in Denmark and 9 divestments in Greece Integration Classic Fine Foods well on track Sale of METRO Cash & Carry Vietnam completed Like-for-Like Sales Development in % 2013/14 2014/15 1.4 1.0 1.1 1.1 0.9 0.1 0.1 Q4 FY Q1 Q2 Q3 Q4 FY EBIT Development in million 2013/14 2014/15 1,125 1,050 261 481 37 262 269 Q4 FY Q1 Q2 Q3 Q4 FY Delivery Sales Share in % 2013/14 2014/15 10.0 9.1 10.9 11.8 8.6 10.1 10.6 Q4 FY Q1 Q2 Q3 Q4 FY 13 January 2016 METRO AG 2016 23

THE CORE OF OUR BRAND: CHAMPION FOR INDEPENDENT BUSINESS Key message: We help independent entrepreneurs to grow and win. Clear focus on target groups localized strategy per country Intensified effort to engage in communities Aim to continuously increase our relevance Strengthening of solution mind set, including own brands Intensive effort to further improve Employee Engagement. Our people are the most important success factor 13 January 2016 METRO AG 2016 24

WHERE WE WANT TO GO Omnichannel and full service systems partner Stores Trader shops (Food Service) Delivery E commerce Market leadership in selected customer segments HoReCa Trader Services, Companies, Offices 13 January 2016 METRO AG 2016 25

TECHSTARS METRO ACCELERATOR TO IDENTIFY AND BOOST DIGITAL INNOVATIONS FOR OUR CUSTOMERS The world s first Hospitality & Food Tech accelerator. Seeking the best digital innovations for hotels and restaurants. Intensive start-up-bootcamp Broad network of experienced mentors 3 prestigious partners 11 companies qualified Techstars METRO ACCELERATOR with R/GA Berlin 2015/2016 13 January 2016 METRO AG 2016 26

WE SELECTED 11 COMPANIES Zenchef A one-stop SaaS marketing and CRM provider for restaurants Coffee Cloud Flowtify Gastrozentrale Journy GroupRaise Lunchio Poshpacker Roomatic Rublys Wynd Device for coffee cup counting and real time espresso machine monitoring A tablet based reporting app for a paperless HACCP and Quality Management State-of-the-art b2b online marketplace for restaurant and hotel supply products The best custom travel itineraries for $50 a city 20-200+ people eat at a restaurant that donates a % of sales to a cause Reserve, pre-order and pay for your lunch online in advance from anywhere Offers millennials and like-minded travelers a way to find book affordable yet wildly creative hoteliers worldwide Allows guests to connect to hotel services with their mobile device The app that playfully brings new customers by using free scratch cards Digitalizes physical stores through connected businesses 13 January 2016 METRO AG 2016 27

UPDATE ON THE NEW OPERATING MODEL Value Creation Plans in progress and expected to be finished by April/May 2016 Value Creation Teams fully staffed Streamlining of Cash & Carry s central functions nearly finished 7 Federations initiated 7 FEDERATIONS HoReCa - Multi Specialist - Trader: Strict focus on customer groups to support Strategic steering Knowledge sharing Implementation of best practice approaches 13 January 2016 METRO AG 2016 28

STRATEGIC AMBITIONS Being the Champion for Independent Business Strong differentiation through exceptional food competence Serving our customer through various channels Strengthening of solution mind set Establishment of the New Operating Model Implementation and development of innovative wholesale concepts with focus on digitalisation Ongoing cost structure review Overall Ambition: Market Leadership in well defined sectors through unique product ranges and strong focus on B2B solutions that make our customers more competitive 13 January 2016 METRO AG 2016 29

MEDIA-SATURN: HIGHLIGHTS FY 2014/15 LfL sales up 3.1% with positive development in all quarters Continued strong growth in online sales: +20% to 1.8 billion (8% of total sales) Internet offering of more than 150,000 products at Media Markt and around 130,000 at Saturn Market share increased 70bps to 13.3% (highest ever); 11 out of 15 markets grew Recognition as distribution partner of choice further improved EBIT improvement in nearly all countries 36 new store openings, 15 store closures Integration of RTS started Like-for-Like Sales Development in % 2013/14 2014/15 5.2 3.8 2.9 1.7 0.2 3.1-0.9 Q4 FY Q1 Q2 Q3 Q4 FY EBIT Development in million 2013/14 2014/15 130 335 349 442 20 133-60 Q4 FY Q1 Q2 Q3 Q4 FY Online Sales in million 1 2013/14 2014/15 1,430 350 512 436 404 415 1,766 Q4 FY Q1 Q2 Q3 Q4 FY 1 Adjusted for Redcoon Denmark and France 13 January 2016 METRO AG 2016 30

ALL STRATEGIC BUILDING BLOCKS SHOW STRONG DEVELOPMENT LfL performance brick & mortar Return to growth for the first time since 2007 12 countries with increasing LfL brick and mortar sales in FY 2014/15 Online sales Online share reached 8% of total sales Current pick-up-ratio as high as 40%, e.g. in Germany Commissions and services Over 1 billion sales in commissions and services ~5% of total sales 13 January 2016 METRO AG 2016 31

STRATEGIC UPDATE I Ongoing portfolio optimisation 36 store openings 15 store closures 28 sales space reductions All expiring rental contracts are re-negotiated based on store performance Integration of Redcoon Local Media-Saturn organisation with full operative responsibility Redcoon with identical purchasing terms & conditions as Media- Saturn Goal is to maximise market share and profit in each market Electronic shelf labelling Roll out to all stores completed until the end of FY 2015/16 First feedback signals a significant improvement of staff efficiency in the stores 13 January 2016 METRO AG 2016 32

STRATEGIC UPDATE II RTS Majority shareholding in customer and repair service provider to expand service offering Services both in store and at home Saturn Connect New store format pilots with focus on city centres (Cologne, Trier) Hotspot for digital lifestyle Focus on mobile and innovative products as well as services and contracts Same day delivery Delivery of online orders within 3 hours Service in 170 German cities (80% coverage) 13 January 2016 METRO AG 2016 33

MSH START UP ENGAGEMENT Launched on August 26, 2015 Access to innovation, talent & entrepreneurs Low risk investments for Media-Saturn Superb press and insider feedback Media-Saturn recognized as relevant digital investor Start-ups invest in Media-Saturn ecosystem More than 100 applications from 21 countries; 4 finalists selected* *Final documentation under negotiation 13 January 2016 METRO AG 2016 34

STRATEGIC AMBITIONS Mission The partner, day-to-day companion and navigator for consumers in the fascinating yet sometimes confusing digital world Vision The leading provider of consumer electronics and corresponding services in Europe with a sustainable and profitable market position in selected countries Strategy Transition from pure high-volume, transactional and undifferentiated retail business into a target group and country-specific portfolio of brands, channels and formats based on a data-based understanding of our customers 13 January 2016 METRO AG 2016 35

REAL GERMANY: HIGHLIGHTS FY 2014/15 After good first half, LfL sales down 0.8% due to intensive competition and food price deflation 107 remodeled stores with positive contribution to sales development and customer frequency Online sales more than doubled to 47 million Streamlining of store portfolio: 14 non-profitable stores closed Shift of settlement to Markant and buying co-operation with PHD to strengthen buying power Supply chain centralization of logistics flow Like-for-Like Sales Development in % 2013/14 2014/15 0.2 0.9 1.1-0.9-1.6-0.8-3.7 Q4 FY Q1 Q2 Q3 Q4 FY REAL EBIT Development in million 2013/14 2014/15 28 81 84 5 35 88-36 Q4 FY Q1 Q2 Q3 Q4 FY Exit of German retail collective agreement with target to negotiate competitive framework for personnel costs 13 January 2016 METRO AG 2016 36

STRATEGIC UPDATE CUSTOMER ORIENTED REAL OF TOMORROW Concept Costs Increased localization of individual stores Continuous growth of Real online platform Preparation of food click-and-collect/delivery option for stores Extension of organic ranges such as permaculture Continue supply chain efficiency effort Optimized energy consumption Achieve competitive labour cost levels to allow for more service Remodellings Modernization effort to be continued Big Bang 2.0 pilot in preparation Further innovations to be piloted Real estate Consideration of selective acquisition of attractive stores 13 January 2016 METRO AG 2016 37

STRATEGIC AMBITIONS Develop Real into a truly differentiated shopping experience for the big weekly shop based on Strong and unique food offer Emotionalized and modernized store experience More service and support in selected departments More focussed non-food offer Multichannel integration Big Bang 2.0 pilot based on learnings plus new considerations to be implemented in Q2/Q3 2015/16 Overall Ambition: Unique choice and quality in food retail complemented by a compelling non-food range. Well-adjusted to serve our key customer groups. Enhanced through multichannel. 13 January 2016 METRO AG 2016 38

AGENDA 01 Strong Progress Made in 2014/15 3 02 Financials FY 2014/15 10 03 Strategic Update 23 04 Outlook 2015/16 40 13 January 2016 METRO AG 2016 39

ECONOMIC OUTLOOK 2015/16: GENERAL CONDITIONS Global GDP growth of approx. 2.5% Germany ~1.5% Western Europe ~1.5% Eastern Europe ~1.5%, Russia stabilizing on low level Asia ~4%, China ~6.5% Worldwide GDP growth on level of previous business year, only minor stimulus for retail Continuing political and economic imponderables Different developments in emerging and industrialized countries: Uncertainty about economic development of China and Russia Tensions between Russia/Ukraine ongoing Disputes in Middle East continue Uncertainties regarding terror risks Risk given for negative impact on GDP growth/currencies 13 January 2016 METRO AG 2016 40

OUTLOOK 2015/16: FINANCIAL TARGETS billlion Reported FY 2014/15 Guidance FY 2015/16 LfL sales growth +1.5% >0% EBIT before special items 1,511 >1,511 1 Capex 1,411 ~2,000 2 Number of new store openings 58 ~70 1 Based on constant foreign exchange rates 2 75% going concern and 25% innovation and M&A Net debt without further acquisitions stable on the level of 2.5 billion 13 January 2016 METRO AG 2016 41

SUSTAINABLE VALUE CREATION Portfolio in good shape Clear defined customer focus for all sales lines Continued strict cost focus Strong balance sheet allows us to Invest into focused expansion Modernise store network Let shareholders participate in our success (higher payout ratio) 2014/15 Midterm (~2020) LfL Sales Growth 1.5% >2% EBIT Margin 2.6% >3.5% Capex 1.4 bn ~ 2 bn Rating BBB- BBB Well on track to achieve our midterm financial goals 13 January 2016 METRO AG 2016 42

TRANSFORMATION OF METRO GROUP ACQUISITIONS START-UP INV. / ACCELERATORS BUSINESS INNOVATION STRATEGY MODERNISATION OF OUR BUSINESS MODELS FOCUS PORTFOLIO OPTIMISATION DEBT REDUCTION SUSTAINABILITY CORPORATE CULTURE, MANAGEMENT CULTURE, EMPLOYEE ENGAGEMENT Accelerated Growth of modernized CORE BUSINESS CUSTOMER-CENTRIC STRATEGY 2012 2013 2014 2015 2020 13 January 2016 METRO AG 2016 43

TRANSFORMATION OF METRO GROUP New Growth Opportunities ACQUISITIONS START-UP INV. / ACCELERATORS BUSINESS INNOVATION STRATEGY MODERNISATION OF OUR BUSINESS MODELS FOCUS PORTFOLIO OPTIMISATION DEBT REDUCTION SUSTAINABILITY CORPORATE CULTURE, MANAGEMENT CULTURE, EMPLOYEE ENGAGEMENT Accelerated Growth of modernized CORE BUSINESS CUSTOMER-CENTRIC STRATEGY 2012 2013 2014 2015 2015 2020 13 January 2016 METRO AG 2016 44

CONTACT Investor Relations Metro-Straße 1 40235 Duesseldorf Germany Tel.: +49 (0)211 6886-1051 Fax: +49 (0)211 6886-3759 Email: investorrelations@metro.de Internet: www.metrogroup.de 13 January 2016 METRO AG 2016 45