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 26,410 32,319 37,314 market, The e-grocery, hard RUB bln 31% discounter and proximity 34% 36% store segments will +5 p.p. continue to grow (the latter Food retail is the largest include convenience store retail segment, with an formats like Pyate
Slide 4: Х5: a leader in Russian retail
Х5: a leader in Russian retail No. 1 in the food retail market No. 1 in e-grocery Top 10 Russian food retailers by market share 2023 2024 H1 2025 Top 10 Russian e-grocery retailers by market share 2023 2024 H1 2025 No. 1 14.5% 15.6% 16.9% No. 1 13.1% 16.1% 19.3% No. 2 10.5% 11.1% 11.6% No. 2 15.8% 1
Slide 5: X5 today
X5 today No. 1 X5 is building the most efficient supply chain on the market In ready-to-eat food sales among retailers 17,400+ 960+ 7,000+ 1,500+ Top 2 80 Perekrestok Pyaterochka supermarkets proximity stores with café and Direct import In transport cargo with coffee points coffee points Suppliers s
Slide 6: X5 businesses
X5 businesses 417 Perekrestok Select cafés 86 998 Mnogo Lososya Perekrestok dark kitchens supermarkets 7,210 >1,500 Company-owned trucks Suppliers 2,909 30,684 Chizhik hard 5Post parcel lockers discounters and pickup points 24,990 3,258 Pyaterochka proximity OKOLO stores1 stores 9,582 49 Stores with
Slide 7: Pyaterochka: strengthening market leadership
Pyaterochka: strengthening market leadership Food retail market share Drivers of growth 11.6% 12.2% 10.3% 10.8% Expansion and Competitor 1 new store openings 9.2% 9.1% 9.2% 8.1% Competitor 2 4.7% 4.0% 4.3% 3.5% Customer value proposition (CVP) 2021 2022 2023 2024 24,990 78.8 % 8.1 % Commercial and o
Slide 8: Perekrestok: leader in the supermarket segment
Perekrestok: leader in the supermarket segment Supermarket segment market share Drivers of growth 14% 12.6% 10.5% 11.1% 10.0% 12% 10% Online sales 8.6% Competitor 1 8% 7.0% 5.7% 6% 4.8% 3.3% 3.7% 4% 2.7% 2.9% Competitor 2 2% New formats and pilot 0% projects 2021 2022 2023 2024 998 Stores1 10.6 % 6.
Slide 9: Chizhik: on the path to segment leadership
Chizhik: on the path to segment leadership X5’s 2028 strategic Hard discounter segment market share targets 30% 5,000 16.5% Stores 10.1% 4.0% 0.5% RUB 1 trln 2021 2022 2023 2024 2028F Revenue 2,909 8.9 % +65.3 % Significant positive contribution to X5’s EBITDA Stores1 Share of revenue1 Revenue growt
Slide 10: X5 Digital: developing an omnichannel model
X5 Digital: developing an omnichannel model E-grocery market share 17% Single mobile platform 16.4% Competitor 1 • Seamless customer journey across all apps 15.9% • Optimised courier load management 16% 16.1% 15% 14.6% Hybrid infrastructure: delivery from stores and dark stores 14.2% • Expanded deli
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 Top-1 in the hard discounter segment Top-3 among Russian logistics Direct franchise model for small
Slide 12: Loyalty programme and digital contact with customers
Loyalty programme and digital contact with customers The best loyalty programme X5’s customer base is becoming increasingly digital in the food retail market 76 mln The annual audience of X5’s digital According to the NPS Ipsos market tracker and INFOLine research channels increased 2.8x in 2024 85
Slide 13: Additional opportunities
Additional opportunities No. 1 media seller by audience reach: Technology platform for non-chain Last-mile delivery logistics operator single portal for communication with all retail stores X5 advertising and media channels 15,000+ Top-3 162 mln 80+ mln Stores In the delivery service market Parcels
Slide 14: Ready-to-eat food will become the largest category
Ready-to-eat food will become the largest category in X5’s retail formats How we are are achieving our goals 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:
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 Selling space, ths sqm CAGR 2020–2024: 18.4% CAGR 2020–2024: 9.0% 8.4% 24.0% 3,880 11,062 10,206 3,129 9,107 8,410 7,840 2,596 2,194 1,973 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 LFL sales, % y-o-y growth Number of s
Slide 17: … amid consistently high growth rates
… amid consistently high growth rates Revenue CAGR above 18% Stable growth of adj. ROIC2 CAGR 2020–2024: 18.6% 24.2% 3,908 30.3% 27.4% 3,146 2,605 1,978 2,205 19.2% 16.1% 17.1% 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 Adj. EBITDA margin1 consistently above 6.5% Positive FCF CAGR 2020–2024:
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) ’000 RUB/sqm (annualised) Overall Moscow & Moscow region +10.5% +9.7% 388 395 522 377 514 357 367 501 489 476 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025
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 Ensuring a comfortable and safe living N
Slide 20: Investment case
Investment case Growth potential of the Multi-format food retail market Strong leadership business model Transparent dividend Business growth, high level Transition to Russian policy: balancing cash flow of efficiency and strong Technological stock exchange distribution with financial financial posi
Slide 21: Q3 2025 results
Q3 2025 results
Slide 22: Double-digit top-line growth supported by strong LFL sales dynamics
Double-digit top-line growth supported by strong LFL sales dynamics Net retail sales 1 Traffic, mln customers Net selling space (eop) 22.9% 21.8% 21.2% 2,272 2,311 8.8% 8.4% 8.7% 8.9% 9.2% 20.7% 18.0% 2,153 2,087 2,010 11,718 1,161 1,143 11,238 11,477 1,059 1,056 11,062 10,727 969 Q3 2024 Q4 2024 Q1
Slide 23: Financial results
Financial results Revenue SG&A (excl. D&A&I, LTI and other employee incentives) 22.9% 22.3% 20.7% 21.6% 17.7% 18.7% 19.2% 17.4% 17.9% 18.5% 1,174.2 14.6% 1,077.8 1,160.1 201.7 205.3 204.5 207.3 1,069.8 978.6 173.0 169.2 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025
Slide 24: Q3 2025: Adjusted SG&A expense analysis
Q3 2025: Adjusted SG&A expense analysis 1 Key Q3 2025 highlights: Expenses as a percentage of revenue in Q2 2025 Staff costs: optimisation initiatives in retail chains. 17.7% 19 b.p. 17.9% Lease expenses: positive operating leverage effect for fixed lease rates, partially offset by an increase in re
Slide 25: X5 capital expenditures
X5 capital expenditures Capital expenditure structure Capex trends by year, RUB bln RUB 166.4 bln +12,1% y-o-y Other 13% 4.7% 4.7% M&A 3% 4.5% 4.4% IT 7% 4.3% Store refurbishments 7% 3.1% 166.4 Maintenance 19% 148.4 Logistics and transport 19% 97.9 89.9 81.1 82.0 New store openings 31% 2024 2019 202
Slide 26: X5 debt structure
X5 debt structure Debt profile Debt portfolio maturity RUB mln 30 Sep 2025 30 Sep 2024 100% 12% Total debt 323,211 224,131 36% Short-term debt 138,129 83,166 40% % of total debt 42.7% 37.1% Long-term debt 185,082 140,965 12% % of total debt 57.3% 62,9% Net debt (pre-IFRS 16) 256,767 197,142 30 Sep 2
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 annual EBITDA ratio dividend payments 18–24 months Cash flow distribution while maintaining the target net Target maturity profile of the loan debt / EBITDA ratio port
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