Slide 1: Investor Presentation
Investor Presentation X5.ru
Slide 2: Disclaimer
Disclaimer 2 This announcement includes statements that are, or may be deemed to be, “forward-looking statements”. 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 “anticipa
Slide 3: Trends across food retail market segments
Trends across food retail market segments Food retail 29,595 34,612 39,442 market, RUB bln 32% The e-grocery, hard 35% 36% discounter and proximity +4 p.p. store segments will Food retail is the largest continue to grow (the latter retail segment, with an include convenience stores 6% average annual
Slide 4: Х5: the leader in Russian retail
Х5: the leader in Russian retail No. 1 in the food retail market No. 1 in e-grocery Top 10 Russian food retailers by market share 2024 2025 H1 2026 Top 10 Russian e-grocery retailers by market share 2024 2025 H1 2026 No. 1 15.6% 16.6% 17.5% No. 1 16.1% 18.6% 20.2% No. 2 11.1% 11.5% 12.4% No. 2 18.1%
Slide 5: X5 today
X5 today No. 1 No. 1 No. 1 in the proximity store in the supermarket in the hard discounter segment segment segment 9 % Revenue growth, 7 % Revenue growth, 30 % Revenue growth, H1 2026 vs H1 2025 H1 2026 vs H1 2025 H1 2026 vs H1 2025 No. 1 No. 1 No. 1 in the e-grocery segment in ready-to-eat food am
Slide 6: X5 businesses
X5 businesses 1,500+ 439 Perekrestok Suppliers Select cafés 11,035 1,004 Stores with delivery service Perekrestok supermarkets 7,241 3,596 Okolo branches Chizhik hard affiliated with the discounters franchise programme 26,004 73,000 Pyaterochka proximity Digital surfaces in stores stores1 Х5 BUSINES
Slide 7: Pyaterochka: strengthening market leadership
Pyaterochka: strengthening market leadership Food retail market share Operational focus and strategic priorities 14% 13.0% 11.6% 12.2% 12% 10.8% Expansion and 9.3% 9.5% new store openings 10% 9.2% 9.1% 8% Competitor 1 6% 5.2% 4.3% 4.7% 4.0% 4% Customer value Competitor 2 proposition (CVP) 2% 0% 2022
Slide 8: Perekrestok: leader in the supermarket segment
Perekrestok: leader in the supermarket segment Supermarket segment Operational focus market share and strategic priorities 16% 14% 12.6% 13.4% Scaling the new 12% 10.5% 11.1% store concept 10% 9.3% 8.7% 8% 7.1% Competitor 1 5.7% 6% 3.3% 3.6% 3.8% Customer value 4% 3.0% proposition (CVP) 2% Competito
Slide 9: Chizhik: leader in the hard discounter segment
Chizhik: leader in the hard discounter segment Hard discounter segment 2028 strategic targets market share 35% 30.0% 30% 24.6% 5,000 25% Stores 20% 17.5% 15% 10.4% 10% 4.1% RUB 1 trln Revenue 5% 0% 2022 2023 2024 2025 2028F Source: INFOLine Significant positive Revenue growth, contribution to 3,596
Slide 10: X5 Digital: developing an omnichannel model
X5 Digital: developing an omnichannel model No. 1in the e-grocery segment in 2025 E-grocery market share 20% 19% 18.6% Single mobile platform 18.1% 18% 17% 16.5% 16.1% 16.0% 16% 15% 14.5% Competitor 1 Hybrid infrastructure: delivery 14.0% 13.9% from stores and dark stores 14% 13.1% 13.1% 13% 12.4% 1
Slide 11: X5's presence at each step of the customer journey
X5’s presence at each step of the customer journey Unified loyalty programme Leader in the proximity store segment and X5 ID service Leader in the supermarket segment Subscription and benefits service Leader in the hard discounter segment Payment service integrated Direct franchise model for small-f
Slide 12: Loyalty programme and digital customer engagement
Loyalty programme and digital customer engagement The best loyalty programme in grocery retail According to the NPS Ipsos market tracker and INFOLine research 83.9 mln “Apelsin” payment Active loyalty service integrated into programme participants the X5 Club loyalty programme 2.3 х 82.7 % The avera
Slide 13: Ready-to-eat food will become the largest category in X5 retail formats
Ready-to-eat food will become the largest category in X5 retail formats Our path to delivering results Market leader in sales of coffee and freshly baked goods in the HoReCa retail segment Ready-to-eat points in 15,000 stores across the country X5’s 2028 targets No. 1 modern urban café chain: Perekr
Slide 14: X5 Media: a one-stop platform for X5 advertising and analytics
X5 Media: a one-stop platform for X5 advertising and analytics Retail media Advertisement Instore digital ad: digital solutions in retail radio, TV, self-service chain apps: banners, checkouts video, search and more X5 technology-based advertising platform segment in Russia’s advertising market Prod
Slide 15: Strategic guidance
Strategic guidance Maintain leadership and become the most efficient omnichannel retailer The leader in the speed of No.1 No. 1 No. 1 technology adoption and innovation in the Russian food retail market in e-grocery in ready-to-eat food sales and the largest café chain Increase shareholder value STR
Slide 16: Track record of strong operational performance…
Track record of strong operational performance… Net retail sales, RUB bln 1 Selling space, ths sqm CAGR 2021–2025: 20.3% CAGR 2021–2025: 9.5% 8.7% 18.3% 4,589 11,912 10,961 3,880 10,109 9,015 3,129 8,296 2,596 2,194 2021 2022 2023 2024 2025 2021 2022 2023 2024 2025 LFL sales, % y-o-y growth Number o
Slide 17: … amid consistently high growth rates
… amid consistently high growth rates Revenue CAGR above 18% Adj. ROIC3 CAGR 2021–2025: 20.5% 18.8% 4,642 30.3% 3,908 27.4% 25.6% 3,146 2,605 2,205 19.2% 17.1% 2021 2022 2023 2024 2025 2021 2022 2023 2024 2025 Adj. EBITDA margin1 consistently above 6.0% FCF CAGR 2021–2025: 14.8% 3.6% 7.5% 7.3% 6.9%
Slide 18: Growth and profitability driven by improved sales density
Growth and profitability driven by improved sales density Sales density leadership in proximity segment in key geographies (Moscow and St Petersburg) RUB ths/sqm (annualised) Overall Moscow & Moscow region +4.2% +3.9% 388 395 399 402 404 531 534 527 522 514 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q2
Slide 19: Social responsibility
Social responsibility X5 is a socially responsible company Contribution to National Development Goals that cares about society, the environment and healthy nutrition UN Sustainable Development Goals and the National Development Goals of the Russian Federation No. 1 Ensuring a comfortable and safe li
Slide 20: Investment case
Investment case Strategic opportunities Multi-format in the food retail market Strong leadership position business model Transparent dividend policy: balancing cash flow Business growth, efficiency Technological leadership Balanced growth distribution with financial and financial sustainability in t
Slide 21: Q2 2026 results
Q2 2026 results
Slide 22: Revenue growth supported by strong LFL sales dynamics
Revenue growth supported by strong LFL sales dynamics Net retail sales 1 Traffic, mln customers Net selling space (eop) 21.2% 18.0% 14.6% 9.5% 11.2% 9.0% 9.3% 8.7% 8.0% 6.9% 2,434 2,272 2,311 2,241 1,213 1,270 12,157 1,161 1,143 1,175 2,093 11,912 12,011 11,376 11,614 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Slide 23: Financial results
Financial results Revenue SG&A (excl. D&A&I and LTI) 21.6% 18.5% 19.3% 17.4% 17.9% 18.5% 18.4% 14.9% 21.0% 21.0% 11.3% 2000 9.9% 270 15.2% 11.0% 229.0 229.3 237.8 11.0% 1500 1,238.0 1,190.6 1,289.9 204.5 207.3 196.6 1,174.2 1,160.1 220 1.0% 1.0% 1000 170 -9.0% -9.0% 500 120 -19.0% -19.0% 0 -29.0% 70
Slide 24: Q2 2026: Adjusted SG&A expense analysis
Q2 2026: Adjusted SG&A expense analysis 1 Key Q2 2026 highlights: Expenses as a percentage of revenue in Q2 2026 Other store costs: lower refurbishment and material costs. 102 b.p. 18.4% 17.4% 1.0% Staff costs: higher compensation for store employees relative to the 9 b.p. market, as well as negativ
Slide 25: X5 capital expenditures
X5 capital expenditures Capital expenditure structure Capex trends by year, RUB bln RUB 215.2 bln +29.3% y-o-y 4.7% 4.5% 4.6% M&A 1% 4.4% CVP, ready-to-eat food and online sales 4.3% 7% 215.2 Strategic innovation and efficiency projects 14% 3.1% 166.4 148.4 Store maintenance and refurbishments 26% 9
Slide 26: X5 debt structure
X5 debt structure Debt profile, RUB bln Debt portfolio maturity 435.9 314.3 100% 14% 56% 57.6% 70.8% 30% 42.4% 29.2% 30 June 2026 30 June 2025 Short-term debt Long-term debt 31 Jun 2026 2026 2027 2028-2030 Liquidity metrics and covenants 805 X5’s available 100% RUB-denominated RUB bln credit facilit
Slide 27: Financial and dividend policies
Financial and dividend policies Pre-IFRS 16 Financial policy Dividend policy 1.2–1.4x 2x per year Target net debt / Target number of EBITDA ratio dividend payments 18–24 months Cash flow distribution while maintaining the target net Target maturity profile of the loan debt / EBITDA ratio portfolio 5
Slide 28: X5 Investor Relations
X5 Investor Relations iro@x5.ru +7 (495) 662 88 88 ext. 13147 “Investors” section on X5’s IR Telegram X5 corporate blog on X5 corporate blog on the X5 corporate channel Pulse SMART-LAB website