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Investor Presentaiton

X5Group ...supported by robust profitability Revenue CAGR exceeding 14% in 2017-21 CAGR 2017-2021: 14.2% 11.5% Adj. ROIC² has increased by 4 p.p. since 2018 2,205 1,978 1,734 1,533 1,295 2017 2018 2019 2020 2021 Adj. EBITDA margin¹ consistently above 7% CAGR 2017-2021: 13.4% 7.7% 7.3% 7.4% 7.4% 7.2% 12.5% 164 146 127 110 99 2017 2018 2019 2020 2021 Adj. EBITDA, RUB bln Adj. EBITDA margin, % Source: X5 data 123 2. 3. 17.1% 16.1% 15.2% 14.5% 13.2% 2017 2018 2019 2020 2021 FCF at record high level 2.9% 3.3% 733 0.9% 45 0.0% 18 -2.2% (29) 2017 2018 FCF, RUB bln FCF/Revenue, % 2019 2020 2021 Adjusted for LTI, exit share-based payments and other one-off remuneration payments ROIC NOPAT/ average (equity + net debt, including short-term financial investment), adjusted for impact from Karusel transformation, tax on investments and tax accrual related to X5's reorganisation in previous periods Adjusted for short-term financial investments 9
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