X5 Retail : Quarterly Earnings Document

X5.RU 01

X5 Group Q2 2023 net sales increase 19.1% Digital business net sales up 83.7%

Q2 2023 HIGHLIGHTS

+19.1% y-o-y

Total net sales increased by RUB 123.4 billion

driven by 7.8% y-o-y increase in like-for-like (LFL1) sales and selling space expansion

+14.1%y-o-y

+922 new stores

X5 net new stores in Q2 2023

Including 699 proximity stores, 218 hard discounters and 5 dark kitchens

+1.5% y-o-y

4xy-o-y

Chizhik net sales increased by RUB 19.8 billion, totalling RUB

26.6 billion in Q2 2023

Chizhik opened 218 stores in Q2 2023

83.7%y-o-y

Net offline retail sales for Pyaterochka increased by RUB

74.6 billion, reaching RUB 604.8 billion

Net offline retail sales for Perekrestok increased by RUB

1.4 billion, reaching RUB 92.4 billion

Digital business net sales2 increased by RUB 12.3 billion, totalling RUB 27.0 billion

3.5% of total net sales

+1.5 p.p. of the consolidated revenue growth rate

Amsterdam

18 July 2023

X5 Retail Group N.V. ("X5" or the "Company", LSE and MOEX ticker: "FIVE"), a leading Russian food retailer that operates

the Pyaterochka, Perekrestok and Chizhik retail chains, today announces its preliminary consolidated net retail sales and operational results for the second quarter (Q2) and six months (H1) ended 30 June 2023.3

1. LFL comparisons of retail sales between two periods are comparisons of retail sales in local currency (including VAT) generated by the relevant stores. The stores that are included in LFL comparisons are those that have operated for at least 12 full months. Their sales are included in LFL calculations starting from the day of the store's opening. We include all stores that fit our LFL criteria in each reporting period. Sales of the express delivery service from stores and dark stores that have operated for less than 12 full months are also included in LFL calculations.
2. Vprok.ru, express delivery, 5Post and Mnogo Lososya.
3. Numbers in this press release are preliminary and have not been reviewed or audited by the Company's auditor.

X5.RU 02

NET SALES PERFORMANCE

Sales of offline and digital businesses4

			CHANGE			CHANGE
			Y-O-Y, % OR			Y-O-Y, % OR
RUB MLN	Q2 2023	Q2 2022	MULTIPLE	H1 2023	H1 2022	MULTIPLE
Pyaterochka	604,841	530,236	14.1	1,142,783	1,013,645	12.7
Perekrestok	92,426	91,048	1.5	186,170	182,338	2.1
Chizhik	26,559	6,818	4x	45,295	10,917	4x
Offline net sales5	743,651	632,565	17.6	1,413,408	1,216,793	16.2
Digital businesses' net sales	27,018	14,711	83.7	52,628	33,546	56.9
Total net sales	770,669	647,276	19.1	1,466,036	1,250,339	17.3

Net retail sales6 by format

Including express delivery, excluding Vprok.ru and 5Post sales

			CHANGE			CHANGE
			Y-O-Y, % OR			Y-O-Y, % OR
RUB MLN	Q2 2023	Q2 2022	MULTIPLE	H1 2023	H1 2022	MULTIPLE
Pyaterochka	616,986	534,318	15.5	1,165,898	1,023,511	13.9
Perekrestok	100,401	95,345	5.3	201,843	191,910	5.2
Chizhik	26,586	6,818	4x	45,330	10,917	4x
Net retail sales7	764,581	641,466	19.2	1,453,759	1,237,233	17.5

1. In the tables and text in this press release, immaterial deviations in the calculation of % change, subtotals and totals are due to rounding.
2. Including Krasny Yar and Slata. Including Karusel for Q2 2022 and H1 2022.
3. Net retail sales represent revenue from operations of X5-managed stores net of VAT. This number differs from revenue, which also includes proceeds from direct franchisees (royalty payments) and other revenue, which will be reported as part of X5's Q2 2023 financial results.
4. Including Mnogo Lososya, Krasny Yar and Slata. Including Karusel for Q2 2022 and H1 2022.

X5.RU 03

Q2 and H1 2023 LFL store performance by format

% change y-o-y

		Q2 2023			H1 2023
	SALES	TRAFFIC	BASKET	SALES	TRAFFIC	BASKET
Pyaterochka	8.5	7.2	1.2	7.8	5.6	2.0
Perekrestok	4.6	2.3	2.3	4.3	1.8	2.5
X5 Group8	7.8	6.6	1.1	7.2	5.2	1.9

Q2 2023 monthly net retail sales (RUB) by format

change y-o-y, % or multiple

	APRIL 2023	MAY 2023	JUNE 2023
Pyaterochka	13.6	14.2	14.3
Perekrestok	1.0	0.5	3.2
Chizhik	4x	4x	4x
Offline business total	16.8	17.5	18.4
Digital business total	67.0	87.6	98.7
Total	18.0	19.0	20.1

8. Excluding Krasny Yar and Slata, Vprok.ru and Mnogo Lososya; including Chizhik.

X5.RU 04

AVERAGE TICKET AND NUMBER OF CUSTOMER VISITS

Q2 and H1 2023 average ticket and customer visits by offline format

			CHANGE			CHANGE
			Y-O-Y, % OR			Y-O-Y, % OR
AVERAGE TICKET, RUB	Q2 2023	Q2 2022	MULTIPLE	H1 2023	H1 2022	MULTIPLE
Pyaterochka	442.7	438.6	0.9	453.1	445.1	1.8
Perekrestok	673.4	655.1	2.8	697.1	677.1	2.9
Chizhik	557.6	689.1	(19.1)	569.0	694.0	(18.0)
X5 Group9	467.3	465.1	0.5	479.8	474.0	1.2
NUMBER OF CUSTOMER VISITS, MLN
Pyaterochka	1,594.9	1,402.1	13.8	2,946.6	2,643.4	11.5
Perekrestok	170.3	167.2	1.8	330.7	324.9	1.8
Chizhik	54.2	11.3	5x	90.6	17.9	5x
X5 Group9	1,869.5	1,585.5	17.9	3,464.6	2,996.9	15.6

Q2 2023 average monthly ticket and customer visits by offline format

change y-o-y, % or multiple

AVERAGE TICKET	APRIL 2023	MAY 2023	JUNE 2023
Pyaterochka	1.7	(0.7)	1.9
Perekrestok	2.5	0.6	5.4
Chizhik	(22.0)	(20.6)	(15.1)
X5 Group9	1.0	(1.3)	1.8
NUMBER OF CUSTOMER VISITS
Pyaterochka	12.5	15.7	13.0
Perekrestok	1.9	2.9	0.7
Chizhik	5x	5x	5x
X5 Group9	16.6	19.8	17.3

9. Including Krasny Yar and Slata. Including Karusel for Q2 2022 and H1 2022.

X5.RU 05

EXPANSION DYNAMICS

Selling space and number of stores by format

			CHANGE
SELLING SPACE,			VS 31-DEC-22, %		CHANGE Y-O-Y,
SQUARE METRES (SQ. M)	AS AT 30-JUN-23	AS AT 31-DEC-22	OR MULTIPLE	AS AT 30-JUN-22	% OR MULTIPLE
Pyaterochka	7,899,872	7,497,056	5.4	7,271,291	8.6
Perekrestok	1,067,171	1,085,496	(1.7)	1,107,702	(3.7)
Chizhik	239,559	152,370	57.2	44,129	5x
Joint dark stores	10,258	8,087	26.8	5,358	91.5
X5 Group10	9,541,021	9,107,479	4.8	8,643,579	10.4
NUMBER OF STORES
Pyaterochka	20,248	19,164	5.7	18,558	9.1
Perekrestok	956	971	(1.5)	985	(2.9)
Chizhik	809	517	56.5	153	5x
Joint dark stores	9	7	28.6	4	125.0
X5 Group10	22,682	21,323	6.4	19,782	14.7

Selling space and number of stores added by format

			CHANGE			CHANGE
SELLING SPACE,	NET ADDED	NET ADDED	Y-O-Y, % OR	NET ADDED	NET ADDED	Y-O-Y, % OR
SQUARE METRES	Q2 2023	Q2 2022	MULTIPLE	H1 2023	H1 2022	MULTIPLE
Pyaterochka	265,139	87,838	3x	402,816	222,803	80.8
Perekrestok	(860)	13,028	n/a	(18,326)	8,797	n/a
Chizhik	65,191	18,768	3x	87,189	23,802	4x
Joint dark stores	-	3,889	n/a	2,171	5,358	(59.5)
X5 Group10	337,976	115,164	193.5	433,541	233,822	85.4
NET NUMBER OF STORES
Pyaterochka	699	238	3x	1,084	586	85.0
Perekrestok	-	3	n/a	(15)	(5)	n/a
Chizhik	218	64	3x	292	81	4x
Joint dark stores	-	3	n/a	2	4	(50.0)
X5 Group10	922	303	3x	1,359	661	2x

10. Including Vprok.ru dark stores, Mnogo Lososya dark kitchens, Krasny Yar and Slata stores. Including Karusel for Q2 2022 and H1 2022.