Pet Retail Market and Valuation Outlook

35 Digital Expansion Physical Expansion = Digital Expansion? As megastores open stores, we see an improvement in their omnichannel indices given the wide range of influence... ...specially because physical presence increases omnichannel indexes... After opening a store, digital sales increase ~500%... Digital Sales Performance Post-Store Opening; [base 100] Omnichannel Relation; [%] +500% in 3 months Number of Stores Omnichannel Index 600 153 143 138 500 133 400 300 200 100 M-3 M-2 M-1 Opening M+1 M+2 M+3 1200 | 79% Q3'20 87% 86% 85% 84% | | Q4'20 Q1'21 Q2'21 Q3'21 Overview | Promissing Industry | Assertive Hub-and-Spoke Strategy | Expansion to Outpace | Healthy and Solid Ecosystem | ESG | Valuation & Risks Source: Company's Data; Dário Oficial; QGIS; Conversion

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