X5 Retail Regulatory News (FIVE)

The following amendment has been made to the 'X5 ANNOUNCES CHANGES TO MANAGEMENT STRUCTURE' announcement released on 16/03/2022 at 11:15 under RNS No 9813E

The phrase "who will act as the head of the company" was changed to "who will act as the head of the Russian holding company"

All other details remain unchanged.

The full amended text is shown below.

X5 ANNOUNCES CHANGES TO MANAGEMENT STRUCTURE

16 March 2022 - X5 Retail Group N.V. ("X5" or the "Company", LSE and MOEX ticker: FIVE), a leading Russian food retailer that operates the Pyaterochka, Perekrestok and Chizhik retail chains, today announced that the Supervisory Board has decided to change the management structure and create the position of X5 Group President, who will act as the head of the Russian holding company. Ekaterina Lobacheva, previously General Counsel and Government Relations Director, will take over in this new position. Igor Shekhterman, Chief Executive Officer at X5, will focus on operations management of the business.

Note to Editors:

X5 Retail Group N.V. (LSE and MOEX: FIVE; Fitch, BB+; Moody's, Ba1; S&P, BB+; RAEX, ruAA+ as of 31 December 2021) is a leading Russian food retailer. The Company operates proximity stores under the Pyaterochka brand, Perekrestok supermarkets and Chizhik hard discounters. X5 provides an omnichannel experience to its customers, integrating retail stores and e-commerce through its businesses Vprok.ru Perekrestok, 5Post, express delivery and Mnogo Lososya.

As of 31 December 2021, X5 had 19,121 Company-operated stores. It has the leading market position in both Moscow and St Petersburg and a significant presence in the European part of Russia. Its store base includes 17,972 Pyaterochka proximity stores, 990 Perekrestok supermarkets and 72 Chizhik hard discounters. The Company operates 47 DCs and 4,654 Company-owned trucks across the Russian Federation. X5 is one of the largest employers in Russia.

X5 is one of the largest employers in Russia. The Company employs over 340 thousand people.

For the full year 2020, revenue totalled RUB 1,978,026 million (USD 27,417 million*), EBITDA pre-IFRS 16 reached RUB 145,137 million (USD 2,012 million), and net profit pre-IFRS 16 for the period amounted to RUB 39,180 million (USD 543 million). In 9M 2021, revenue totalled RUB 1,597,289 million (USD 21,583 million**), adjusted EBITDA pre-IFRS 16 reached RUB 123,703 million (USD 1,671 million), and net profit pre-IFRS 16 amounted to RUB 38,943 million (USD 526 million).

X5's shareholder structure is as follows: CTF Holdings S.A., 47.86%; The Axon Trust, 11.43%; X5 directors, 0.10%; treasury shares, 0.01%; shareholders with less than 3%, 40.60%.

Forward-looking statements:

This announcement includes statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements can be identified by the fact that they do not only relate to historical or current events. Forward-looking statements often use words such as "anticipate", "target", "expect", "estimate", "intend", "expected", "plan", "goal", "believe", or other words of similar meaning.

By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances, a number of which are beyond X5 Retail Group N.V.'s control. As a result, actual future results may differ materially from the plans, goals and expectations set out in these forward-looking statements.

Any forward-looking statements made by or on behalf of X5 Retail Group N.V. speak only as of the date of this announcement. Save as required by any applicable laws or regulations, X5 Retail Group N.V. undertakes no obligation publicly to release the results of any revisions to any forward-looking statements in this document that may occur due to any change in its expectations or to reflect events or circumstances after the date of this document.

*FX rate: 72.1464 USD/RUB

** FX rate: 74.0073 USD/RUB