Key Trends in the Market Magnit on the Russian Retail Market

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Key Trends in the Market Magnit on the Russian Retail Market

Annual Report 2018 | MAGNIT MAGNIT TODAY 3-11 17 STRATEGIC REPORT 13-27 PERFORMANCE REVIEW 29-53 CORPORATE GOVERNANCE 55-113 APPENDICES 115-189 Key trends in the market 1. Anticipation of moderate market growth. The outlook for 5. Digital technologies are changing all the components in LFL is positive. Growth in the market will require a the value chain of the value chain: the use of all possible significant improvement in the customer value proposition. channels to interact with customers, analysis of big data on customers, and automated and digital operations. 2. Customer income remains limited, but customers are becoming more demanding. Price remains an important Magnit on the Russian retail market factor for customers when picking retail store locations together with better quality and service. X5 Retail Group and Magnit together account for 74% of total growth in retail space. In 2018, Magnit, despite lower 3. The race for retail space continues. Even though the investment activity, increased its share in the overall proportion of modern retail is growing, the market from growth in retail space by 6.1 percentage points to 24.9% greenfield investment remains unconsolidated. It is and expanded its total retail space by 497.4 th. sq. m. over important to note that in many cases growth does not the period1. Growth in the number of stores of Magnit come from greenfield, but through the replacement of network in 2018 (1,318 new stores2) slowed down compared previous retailers. In 2018, 70% of Magnit’s store openings to 2017 (1,624 new stores3). As was the case in 2017, took place at an existing retail location. convenience stores generate most of the growth. 4. Efficient operations and cost-managemen play an increasing role. Moderate growth along with a high level of competition exert additional pressures on the Company’s margin. Summary retail dynamics, % Market size, T RUB ex VAT Share of players in the Russian retail market, % 3 3 3 Lenta 9 Auchan Dixy Magnit 11 X5 Retail Group Other 71 1. excluding “Magnit Cosmetic” and “Magnit Pharmacy” 2. excluding “Magnit Cosmetic” and “Magnit Pharmacy” 3. excluding “Magnit Cosmetic” and “Magnit Pharmacy” 18 19 Share of players in the retail market Share of players in the retail market of Moscow, % of St. Petersburg, % 3 4 Metro 8 Dixy 6 8 Magnit 32 Magnit 6 Dixy Okey Auchan 15 Lenta 13 X5 Retail Group X5 Retail Group Other Other 68 15 22 Rating of Russian FMCG retail chains by number of stores1 Rating of Russian FMCG retail chains by retail space, thousand sq.m.2 1. As of January 1, 2019 2. Comparable sales.

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