Cencosud S.A. announces Price of Secondary Public Offering of its Ordinary Shares by Inversiones Tano Limitada

Santiago, July 15, 2016.- Cencosud S.A. (NYSE: CNCO, BCS: Cencosud) ("Cencosud" or the "Company") announced today the previously announced secondary public offering, in which Inversiones Tano Limitada (the "Selling Shareholder") offered 170,551,251 ordinary shares of the Company, representing 6% of the total outstanding ordinary shares of Cencosud, including in the form of American Depositary Shares ("ADS"). The public offering price is $1,750.00 per share or US$8.07 per ADS. Each ADS represents three ordinary shares of Cencosud. 14,905,977 shares were allocated in the United States and elsewhere outside of Chile in the form of ADSs ("International Offering"), and 155,645,274 shares were allocated in Chile in the form of ordinary shares (the "Chilean Offering" and, together with the International Offering, the "Global Offering").

The Global Offering is expected to close around July 19, 2016, subject to customary closing conditions. Cencosud will not receive any proceeds from the sale of ordinary shares or ADSs in the Global Offering. The shareholder is controlled by the Paulmann Family, which will remain the majority shareholder of Cencosud following the Global Offering.

J.P. Morgan Securities LLC and Credicorp Capital S.A. Corredores de Bolsa are acting as joint global coordinators for the Global Offering, with J.P. Morgan Securities LLC acting as the sole bookrunner in the International Offering and Credicorp Capital S.A. Corredores de Bolsa and J.P. Morgan Corredores de Bolsa SpA acting as Chilean placement agents for the Chilean Offering.

The International Offering was made in accordance with an effective registration statement filed with the United States Securities and Exchange Commission (the "SEC") on July 11, 2016. The final prospectus relating to the International Offering, when available, can be found on the SEC's website at http://www.sec.gov. Alternatively, copies of the final prospectus, when available, may be obtained by contacting J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Phone: 631-254-1735.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.