Pet Retail Market and Valuation Outlook

Digital Competition 21 Product Price: All Aligned for the Customer... The product price, especially for specialized online players, is the same, as the customer can compare them in an instant... Prices are commoditized in the online channel, without differentiation... Standard Price Comparison; [BRL] ...but pet players have been making moves to captivate customers... Companies Signature Models Petz Cobasi Petlove Zee.Now Subscription Program GoldeN MEGA BRL 153.99 BRL 153.90 BRL 153.90 BRL 163.90 Petz 10% for all products Cobasi 10% for all products Petlove 10% for all products +5% for Pick-Up +5% for Pick-Up GRAN PLUS BRL 55.90 BRL 55.90 BRL 55.90 BRL 66.90 BRL 90.99 BRL 95.28 BRL 89.90 N/A If all are pretty similar, which one can take the most advantage? Discount Simulation; [%] A Gross Margin Petz Cobasi Petlove Petz + Zee.Dog PIPICAT BRL 55.90 BRL 55.50 BRL 55.90 BRL 72.90 5% Discount Increase 10% Discount Increase 15% Discount Increase -2.7% -3.2% -3.7% -5.7% -6.7% -7.9% -9.0% -10.6% -2.6% -5.4% -12.5% -8.6% Overview | Promissing Industry | Assertive Hub-and-Spoke Strategy | Expansion to Outpace | Healthy and Solid Ecosystem | ESG | Valuation & Risks Source: Company's Data; Diário Oficial; Team 7

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