Pet Retail Market and Valuation Outlook

Foot Traffic: Our 28 What do we see that the market does not? What is the primary retail indicator? Some can say SSS. Others may say Sales/m², but we believe in the Average Traffic... We decided to perform our analysis in several competitive scenarios, and megastores always win: Scenario 2: Outside São Paulo State (w/ Petz) Scenario 1: Outside São Paulo State (w/ Petz and Cobasi) Is it possible to expand this model in a sustainable way? Average Traffi 40 20 O V REPUBLICA 25 -23.55- GELO VISTA São Paulo MIXICA -2356- 0 LIBER Hours Te ARDIN 2357-LISTANO ⚫ Petz Average Traffi 40 20 ACLIM • Cobasi JARDINS JARDIM PAULISTARAISO ARDIM EUROPA • Mom & Pop 23.58-Geigh 0369 12 15 18 21 46.69 49.87 -46.60 4085 4064 Longitude Time of Day 29.95 TA DA PRAIA -2399- LADDIN ENC VILACAME SINTO VILK MA VILKULYA -24.00- 25 0 ANTONIO ANTING LADE ⚫ Petz -24.01- • Mom & Pop COUNO 0369 12 15 18 21 Time of Day Grey silf -45.30 w -4829 48.28 -4527 45.25 -48:25 Longitude Overview | Promissing Industry | Assertive Hub-and-Spoke Strategy | Expansion to Outpace | Healthy and Solid Ecosystem | ESG | Valuation & Risks Source: Google Cloud; R; Team 7

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