O'Key S A : O’KEY Group Investor Presentation FY 2023

FY 2023

Investor presentation

2		Investor presentation

Disclaimer

These materials contain statements about future events and expectations that are forward-looking statements. These statements typically include words such as 'expects' and 'anticipates' and words of similar import. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

None of the future projections, expectations, estimates or prospects in this announcement should be taken as forecasts or promises, nor should they be taken as implying any indication, assurance or guarantee that the assumptions on which such future projections, expectations, estimates or prospects have been prepared are correct or exhaustive or, in the case of the assumptions, fully stated in this announcement. We assume no obligations to update the forward- looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.

O'KEY GROUP

OVERVIEW

4		Investor presentation

O'KEY Group at a glance

297

Stores in 23 cities in 6 Federal Districts of Russia

77

Total number of hypermarkets

205.8	21
Group retail revenue	Years of experience
rose by 2.8% in 2023	on the market

BN	BN
63.8RUB	7.7 RUB
DA! retail revenue grew	Online revenue increased by
by 19.8% in 2023	24.0% in 2023

220	31%	5.4%
Total number	DA! discounters' share in Group's	Online share in O'KEY
of discounters	retail revenue in 2023	revenue +1.2pp in 2023

Source: Company

5		Investor presentation

Key events for 2023

O`KEY opens a new hypermarket in St- Petersburg and reinforces its presence in North-West region

DA! discounters deliver a 19.8% revenue growth and reach 31.0% of the Groups net retail revenue

O'KEY online sales reach RUB 7.7 bn, or 5.4% of O'KEY retail revenue

Expert RA rating agency affirms the credit rating of O`KEY at "ruA-", outlook Stable

NCR agency assigns O'KEY a "A.ru" rating

with a stable outlook

6		Investor presentation

An established track record

O'KEY Group founded

First O'KEY hypermarket opened in St. Petersburg

2002 2003-2007

Strategy to establish regional market leadership

Focus on expansion in Russia's	Online sales	O'KEY drive-through,	100 Discounter stores	152 DA! stores	220 DA! stores
key regional markets	platform launched	and 24-hour delivery	under DA! Brand	reaching 19% of	reached 30.7% of
Top 10 retailer by revenue	DA! Brand-new	service launched for the	operating across Russia	Group's revenue	Group's revenue
hypermarket segment		O`KEY hypermarkets
	discounter format		A new O'KEY opened
Six new regions
launched	Sale of supermarket		new concept rolled-	in St-Petersburg
		business		out in St-Petersburg

2007-2009	2009-2014	2015	2016	2017	2018	2019	2020	2021	2022	2023
	Rapid expansion in		Mobile app for iOS and	Discounter revenue under	Discounter DA! revenue	194 DA! discounters
	Moscow and key		Android launched	the DA! Brand reached 8.5%	reached 15% of the Group	reached 26% of the
	regional markets				of the Group revenue	revenue		Group's revenue
	IPO on the London Stock			Omnichannel Mobile app	O'KEY new branding and new	4 new O'KEY stores
	Exchange				launched providing a unified	store concept presented	opened in Moscow
					approach to communications	Listing of GDRs on MOEX	Region
					with customers in stores and
					online

297

Numberofstores															273
													230
#
												195
												178
										145	160
									128
														220
								106						194
													152
							69					100	118
						60			67	82
					52		54
				42		35
			35
	23	28
O'KEYhypermarkets
				69	71	74	78	78	78	77	78	79	77
		35	42	52	60
DA! discounters	23	28
2008	2009	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023

7		Investor presentation

Nationwide presence with focus on

central and north-west regions

Central Federal District

			Murmansk	135	19	12	8	7	3
			Moscow	Tula	Kaluga	Tver	Ryazan	Vladimir
O'KEY online delivery	O'KEY hypermarkets	O'KEY distribution centers		region	region	region	region	region	region
Online delivery via partners	DA! discounters	DA! distribution centers		2	1	1
			St. Petersburg	Voronezh	Lipetsk	Ivanovo

Syktyvkar

24

Selling space	Selling space breakdown
breakdown by brand	by region
Ths sqm, 2023	Ths sqm, 2023

148		15%	52%
664	16%	664	38%

48%

51631%

O'KEY hypermarkets	North-West	O'KEY hypermarkets
DA! discounters	East	DA! discounters
	Central
	South

Surgut

MOSCOW Nizhniy Novgorod

Krasnoyarsk Irkutsk

16	36	Togliatti
			Tyumen
Rostov-on-Don		Ufa
Astrakhan	Ekaterinburg Omsk	Novosibirsk

Krasnodar	Orenburg
Sochi

100% online coverage in cities of O'KEY presence

297	77	220
Total stores		O'KEY hypermarkets		DA! discounters
5 total DCs		4 DCs for hypermarkets		1 DC for discounters
		63% centralization rate		100% centralization rate

8		Investor presentation

O'KEY: modern

hypermarkets

with a strong customer value proposition

6,700 SQM	40K SKUs
Average store selling space	Average product range

Private Labels	Location	Fresh categories
Share in revenue %, 2023	Number of stores, as of end 2023	Share in revenue %, 2023

7

38		49,4
77	39	50,6

93

Private labels	Standalone	Fresh categories
Other brands	In shopping malls	Other categories

RUB 141.9 BN	69.0%
O'KEY net retail revenue in 2023	O'KEY share in the Group's retail
			revenue

Our unique value proposition

• Wide range of competitively priced, high quality products, including fresh food, own bakery, delicatessen products and non-food items
• Locations near key traffic intersections, within easy access to public transportation and/or within highly populated residential district
• Modern shopping environment with an appealing ambiance
• Omnichannel bonus system to accumulate and spend loyalty points
• Large number of cash registers, self-scanning and self-checkout

9		Investor presentation

O'KEY 'fresh' and 'ultra fresh' proposition

as a competitive advantage

Strong focus on ultra-fresh and fresh products

• Around 400 kinds of fresh fruit, vegetables, berries and greens
• Direct imports of fresh fruits and vegetables
• More than 5,000 items across fresh fish, seafood, poultry, meat, sausages, cheese, steaks, and farm-freshdairy products

• The Hot Bread-freshly baked bread three times a day
• Fresh, ultra fresh products and fruits & vegetables are important traffic drivers for
  O'Key stores

50.6%

share of fresh, ultra-fresh, fruits&veg in O'KEY retail revenue

10		Investor presentation

O'KEY continues to upgrade its hypermarkets

• Competitive format driving synergies and clear advantages for development in online
• Strong potential to improve the efficiencies of sales space utilization
• Strengthening O'KEY's market position and creating a foundation for long-termexpansion

Please click here to watch a movie about the new hypermarket

O'KEY stores were upgraded under the new concept in key locations in Moscow, St- Petersburg and Sochi

Even more space allocated to fresh and ultra fresh categories as main traffic drivers

Non-food area reduction,

range revitalisation and redesign of the display, focusing on high-quality items that are most popular with customers

Improved layouts and re-imagined approach to product range, while using every square meter as efficiently as possible