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DIXY Group Investor Presentation DIXY Group Investor Presentation Disclaimer THESE MATERIALS DO NOT CONSTITUTE A PROSPECTUS OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION OF ANY OFFER TO PURCHASE OR SUBSCRIBE FOR, OR ANY OFFER TO UNDERWRITE OR OTHERWISE ACQUIRE ANY EQUITY OR OTHER SECURITIES OF THE COMPANY, NOR SHALL THEY OR ANY PART OF THEM NOR THE FACT OF THEIR DISTRIBUTION OR COMMUNICATION FORM THE BASIS OF, OR BE RELIED ON IN CONNECTION WITH, ANY CONTRACT, COMMITMENT OR INVESTMENT DECISION IN RELATION THERETO, NOR DOES IT CONSTITUTE A RECOMMENDATION REGARDING ANY SECURITIES OF THE COMPANY. NO REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, IS GIVEN AS TO THE ACCURACY OF THE INFORMATION OR OPINIONS CONTAINED IN THESEMATERIALS AND NO LIABILITY IS ACCEPTED FOR ANY SUCH INFORMATION OR OPINIONS BY THE COMPANY OR ANY OF ITS AFFILIATES, DIRECTORS, MEMBERS, OFFICERS, EMPLOYEES, AGENTS OR ADVISERS. THESE MATERIALS ARE NOT AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES OR IN ANY OTHER JURISDICTION. THE SECURITIES OF THE COMPANY HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR PURSUANT TO AN EXEMPTION FROM (OR IN A TRANSACTION NOT SUBJECT TO) THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. THERE WILL BE NO PUBLIC OFFER OF SECURITIES OF THE COMPANY IN AUSTRALIA, CANADA OR JAPAN. THESE MATERIALS MUST NOT BE SENT, TRANSMITTED OR OTHERWISE DISTRIBUTED, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, OR JAPAN OR TO ANY SECURITIES ANALYST OR OTHER PERSON IN ANY OF THOSE JURISDICTIONS. THESE MATERIALS DO NOT CONSTITUTE A PUBLIC OFFER OR AN INVITATION TO MAKE OFFERS, SELL, PURCHASE, EXCHANGE OR TRANSFER ANY SECURITIES IN RUSSIA, OR TO OR FOR THE BENEFIT OF ANY RUSSIAN PERSON, OR ANY PERSON IN RUSSIA, AND DOES NOT CONSTITUTE AN ADVERTISEMENT OF ANY SECURITIES IN RUSSIA. THESE MATERIALS CONTAIN INFORMATION ABOUT THE MARKETS IN WHICH THE COMPANY COMPETES, INCLUDING MARKET GROWTH, MARKET SIZE AND MARKET SEGMENT SIZES, MARKET SHARE INFORMATION AND INFORMATION ON THE COMPANY'S COMPETITIVE POSITION. THIS INFORMATION HAS NOT BEEN VERIFIED BY INDEPENDENT EXPERTS OR ASSEMBLED COLLECTIVELY, AND THERE IS NO GUARANTEE THAT THESE ESTIMATES ARE ACCURATE OR COMPLETE AND NOT MISLEADING NOR THAT THE COMPANY'S DEFINITION OF ITS MARKETS IS ACCURATE OR COMPLETE AND NOT MISLEADING. THE INFORMATION INCLUDED IN THESE MATERIALS IS SUBJECT TO UPDATING, COMPLETION, REVISION AND AMENDMENT AND SUCH INFORMATION MAY CHANGE MATERIALLY. SOME OF THE INFORMATION IS IN DRAFT FORM AND HAS NOT BEEN VERIFIED. THE FINANCIAL INFORMATION INCLUDED HEREIN IS IN DRAFT FORM AND IS UNAUDITED. NO PERSON IS UNDER ANY OBLIGATION TO UPDATE OR KEEP CURRENT THE INFORMATION CONTAINED IN THE PRESENTATION AND THESE MATERIALS AND ANY OPINIONS EXPRESSED IN RELATION THERETO ARE SUBJECT TO CHANGE WITHOUT NOTICE. THESE MATERIALS INCLUDE FORWARD-LOOKING STATEMENTS THAT REFLECT THE COMPANY'S INTENTIONS, BELIEFS OR CURRENT EXPECTATIONS. FORWARD-LOOKING STATEMENTS INVOLVE ALL MATTERS THAT ARE NOT HISTORICAL FACT. FORWARD-LOOKING STATEMENTS CAN BE IDENTIFIED BY THE USE OF WORDS INCLUDING “MAY”, “WILL”, “WOULD”,“SHOULD”, “EXPECT”, “INTEND”, “ESTIMATE”, “ANTICIPATE”, “PROJECT”, “BELIEVE”, “SEEK”, “PLAN”, “PREDICT”, “CONTINUE” AND SIMILAR EXPRESSIONS OR THEIR NEGATIVES. SUCH STATEMENTS ARE MADE ON THE BASIS OF ASSUMPTIONS AND EXPECTATIONS WHICH, ALTHOUGH THE COMPANY BELIEVES THEM TO BE REASONABLE AT THIS TIME, MAY PROVE TO BE ERRONEOUS. FORWARD-LOOKING STATEMENTS ARE SUBJECT TO RISKS, UNCERTAINTIES AND ASSUMPTIONS AND OTHER FACTORS THAT COULD CAUSE THE COMPANY'S ACTUAL RESULTS OF OPERATIONS, FINANCIAL CONDITION, LIQUIDITY, PERFORMANCE, PROSPECTS OR OPPORTUNITIES, AS WELL AS THOSE OF THE MARKETS IT SERVES OR INTENDS TO SERVE, TO DIFFER MATERIALLY FROM THOSE EXPRESSED IN, OR SUGGESTED BY, THESE FORWARD-LOOKING STATEMENTS. IMPORTANT FACTORS THAT COULD CAUSE THOSE DIFFERENCES INCLUDE, BUT ARE NOT LIMITED TO: CHANGING BUSINESS OR OTHER MARKET CONDITIONS, GENERAL ECONOMIC CONDITIONS IN RUSSIA, THE EUROPEAN UNION, THE UNITED STATES AND ELSEWHERE, AND THE COMPANY'S ABILITY TO RESPOND TO TRENDS IN ITS INDUSTRY. ADDITIONAL FACTORS COULD CAUSE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS TO DIFFER MATERIALLY. THE COMPANY AND EACH OF ITS DIRECTORS, OFFICERS, EMPLOYEES AND ADVISORS EXPRESSLY DISCLAIM ANY OBLIGATION OR UNDERTAKING TO RELEASE ANY UPDATE OF OR REVISIONS TO ANY FORWARD-LOOKING STATEMENTS IN THIS PRESENTATION AND ANY CHANGE IN THE COMPANY’S EXPECTATIONS OR ANY CHANGE IN EVENTS, CONDITIONS OR CIRCUMSTANCES ON WHICH THESE FORWARD LOOKING STATEMENTS ARE BASED EXCEPT AS REQUIRED BY APPLICABLE LAW OR REGULATION BY ATTENDING THIS FORWARD-BASED, REGULATION. PRESENTATION YOU AGREE TO BE BOUND BY THE FOREGOING LIMITATIONS. 2 DIXY Group Today 3 DIXY Group at Glance Working since 1992 # 3 national food retailer 2,761 stores in 774 locations > 60,000 employees Revenue in 2015 – RUR 272 bln Market capitalization – RUR 43 bln 4 Source: Company data, July 2016, Bloomberg for market capitalization data as of August 23, 2016 DIXY Group: Track Record of Growth # of stores 646 1,119 1,499 1,799 2,195 2,708 + 2,062 stores 272 x4.3 times 229 Revenue, RUB bln 181 147 102 64 2010 2011 2012 2013 2014 2015 5 Source: Company data, 2015 DIXY Group Regional Snapshot Sales Breakdown by Region 1,888 DIXY stores Moscow 50 Victoria stores 579 DIXY stores Urals Region 4 DCs 64 Victoria stores 3 DCs North - 9% 29% West St. Petersburg 22% Central Northwestern federal district 69% Moscow 15%Other Moscow Central federal Nizhny Novgorod 26% district Central Sales Breakdown by Banner Volga federal district Yekaterinburg Megamart 6% Urals federal district Victoria 11% DIXY 83% 121 DIXY stores 21 DIXY stores 38 Megamart stores 1 DC 6 Source: Company data, Number of stores as of July 31, 2016, Sales breakdown as of 2Q 2016 Strong Track Record of Growth Beginning. Going Public Building Platform Intensive & Extensive Growth 1992 – 2008 2008 – 2010 2011 – current 1992 – founded as a wholesale 2008 – Mercury Group becomes 2011 – Marketing turn-around of DIXY distributor major shareholder chain: new market positioning, 1996 – First MegaMart store Supply chain restructuring. New rebranding and differentiation strategy opened IT system Aldata GOLD (used by implantation starts 1999 – First DIXY retail store Tesco, Ahold, Carrefour and 2011 – DIXY Group acquires Victoria opened Casino) introduced Group and becomes the 3rd largest national food retailer by revenue, selling 2004 – Private equity funds Company centralization space and number of stores acquire stakes in DIXY Group accomplished 2012 – Victoria integration finalized, 2007 – IPO at RTS (raised 2010 – New marketing team DIXY chain re-branded $360 mln) develops DIXY chain re- positioning strategy 2014 – 2,000th store opened 2015 – record number of store openings 7 Source: Company data DIXY Neighborhood Division 83% of Group’s retail revenue RUB 339 average ticket 2,700-4,800 SKUs 2,609 stores 292 m2 average selling space 8 Source: Company data, 2Q 2016; Number of stores as of July 31, 2016 Victoria Division 11% of Group’s retail revenue RUB 304-525 average ticket 2,400-22,300 SKUs 114 stores 308 – 1,250 m2 average selling space 9 Source: Company data, 2Q 2016; Number of stores as of July 31, 2016 Megamart Division 6% of Group’s retail revenue RUB 488-666 average ticket 6,200-21,000 SKUs 38 stores 800 – 2,575 m2 average selling space Source: Company data, 2Q 2016; Number of stores as of July 31, 2016 Our Efficient and Centralized Supply Chain Diversified base of federal, regional Operating 8 DCs in the regions and international suppliers of presence and own fleet of >1,000 trucks GOLD ERP system designed by ALDATA to manage the entire logistic flow and supply chain system One of the industry highest Centralized procurement and delivery centralization rate of 91% in 2Q 2016 across all store formats 11 Source: Company data, 2Q 2016 July 2016 DIXY Group Organic Growth # Stores Selling Space ths. sq. m 2 708 2 761 +53 +11% 937 840 as of December 31, as of July 31, 2016 as of July 31, 2015 as of July 31, 2016 2015 12 Source: Company data, July 2016 DIXY Group Monthly Retail Revenue Growth in 7M 2016 o For the first 7M 2016 DIXY Group retail revenue growth was +20.3% o For 2Q 2016 retail revenue growth was +23.7% 24,6% 23,0% 23,5% 20,2% 16,2% 15,2% 14,7% January February March 2016 April 2016 May 2016 June 2016 July 2016 2016 2016* Source: Company data, July 2016 13 * Please note that there were 28 days in February 2015, compared to 29 days in February 2016. Not adjusted for the leap year effect retail revenue growth would be 18.5% Russian Food Retail Market 14 Russian Food Retail Market in Global Context o Russian is #4 and #9 largest food retail market in Europe and worldwide respectively Russian Food Retail Market, $203 bln UK, $283 bln Italy, $181 bln France, $262 bln Germany, $212 bln Japan, $374 bln USA, $1,148 bln China, $2,077 bln India, $651 bln Brazil, $230 bln 15 Source: Planet Retail Data, 2015 Russian Regional Market Snapshot 9% of population 27% of population 9% of foods retail market 35% of foods retail market St. Petersburg o DIXY Group operates Northwestern federal district in 4 federal districts which account for Moscow 64% of population Central federal Nizhny Novgorod and 71% of the district Russian food retail market Volga federal district Yekaterinburg Urals federal district 20% of population
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