X5 Retail : Х5 Q3 2023 Investor Presentation

Investor Presentation

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Disclaimer

This presentation does not constitute or form part of and should not be construed as an advertisement of securities, an offer or invitation to sell or issue or the solicitation of an offer to buy or acquire or subscribe for securities of X5 Group N.V. or any of its subsidiaries or any depositary receipts representing such securities in any jurisdiction or an invitation or inducement to engage in investment activity in relation thereto. In particular, this presentation does not constitute an advertisement or an offer of securities in the Russian Federation.

No part of this presentation, nor the fact of its distribution, should form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever.

No representation, warranty or undertaking, express or implied, is given by or on behalf of X5 Group N.V. or any of its directors, officers, employees, shareholders, affiliates, advisers, representatives or any other person as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained herein or any other material discussed at the presentation. Neither X5 Group N.V. nor any of its directors, officers, employees, shareholders, affiliates, advisors, representatives or any other person shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or any other material discussed at the presentation or their contents or otherwise arising in connection with the presentation.

This presentation includes statements that are, or may be deemed to be, "forward- looking statements", with respect to the financial condition, results, operations and businesses of X5 Group N.V. These forward-looking statements can be identified by the fact that they do not only relate to historical or current events.

Forward-looking statements often use words such as" anticipate", "target", "expect", "estimate", "intend", "expected", "plan", "goal" believe", or other words of similar meaning. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances, a number of

which are beyond X5 Group N.V's control. As a result,

X5 Group N.V's actual future results may differ materially from the plans, goals and expectations set out in these forward- looking statements. X5 Group N.V. assumes no responsibility to update any of the forward looking statements contained in this presentation.

For Russian law purposes, the securities mentioned in this presentation (the "Securities") represent foreign securities. No prospectus for the issue of the Securities has been or is intended to be registered with the Central Bank of the Russian Federation. The information provided in this presentation is not intended to advertise or facilitate the offer of the Securities in the territory of the Russian Federation. This presentation does not represent an offer to acquire the Securities or an invitation to make offers to acquire the Securities.

The information and opinions contained in this document are provided as at the date of this presentation and are subject to change without notice. Some of the information is still in draft form and neither X5 Group N.V. nor any other party is under any duty to update or inform recipients of this presentation of any changes to such information or opinions. In particular, it should be noted that some of the financial information relating to X5 Group N.V. and its subsidiaries contained in this document has not been audited and in some cases is based on management information and estimates.

Neither X5 Group N.V. nor any of its agents, employees or advisors intend or have any duty or obligation to supplement, amend, update or revise any of the statements contained in this presentation.

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X5 is a leading Russian food retailer

9M 2023 Highlights

#1 Russian	13.2% market share1	23,466 stores		>358 ths
food retailer
vs 9.5% in 2017	in 72 Russian regions		employees
by revenue
			+16.0% y-o-y

Loyal	74.7 mln	24.8 mln
customer
active loyalty card users	MAUs of X5 digital services
base
	>60% of adult population	in Q3 2023
			+35.8% y-o-y

>20 mln

average daily purchases

New and	+97.9% y-o-y		>183 ths	>3,000
digital
digital businesses' sales		average number of daily	hard discounters in
businesses
growth to RUB 29.2 bln		online orders	the next three years
Strong	17.3%		6.8%		+1.1 p.p.
financials	revenue growth y-o-y		EBITDA margin (pre-IFRS 16)	adj. ROIC2 growth y-o-y

1. FY 2022 numbers
2. ROIC = NOPAT / average (equity + net debt, including short-term financial investment), adjusted for impact from Karusel transformation, tax on investments and tax accrual related to X5's reorganisation in previous periods

X5 businesses

66

Dark kitchens (incl. 3 franchisees)

955

Loyalty programme	Supermarkets

601

Stores

20,761

Proximity stores

Subscription service	25,823		1,071
	stores
			Hard discounter
				3
	Pickup points and
	parcel lockers
			Large dark stores

Express delivery

7,779

Stores

44

Dark stores

Digital

5

Pyaterochka

Proximity stores

78%

Share of revenue (9M 2023)

20,761		>4 THS	392 SQM
Stores		SKUs	Average selling space