Pet Retail Market and Valuation Outlook

Appendix 31 110 | 31. Petland: A Franchise Model *0 Highlights Average Sales/m² = BRL 1.2 k Average Net Margin = 18.4% Competitive Positioning For Petland we could see that the company has much lower traffic than when compared to Petz and Cobasi, losing even to the average performed for mom & pop, as shown in our Foot Traffic performed in Vila Leopodina, SP... Growth/Distribution Petland Revenue; [BRL mn] 292 181.7 94.3 112.6 40.4 19.6 Average Revenue Breakdown Foot Traffic Vila Leopodina (1.5 km) 16' 17' 18' 19' 20' 21E Cobasi Petz Petland Mom & Pop Food Non-Food Services Stores Distribution 80 21% 34% Source: Company's Data; Team 7 45% 20 40 60 0 2 4 6 8 10 12 14 16 18 20 22

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