LNTR.L Regulatory News (LNTR)

Press Release | St. Petersburg | 10 February 2022

Lenta Announces Management Changes

St. Petersburg, Russia, 10 February 2022: Lenta IPJSC (LSE: LNTA, MOEX: LNTA & LENT), one of the largest multi-format retail chains in Russia, today announces the appointment of Sergey Sergeev as Chief Information Officer. Sergey Sergeev takes up his role as CIO with effect from 10 February 2022. He replaces Sergey Korotkov in this position, who has decided to leave Lenta.

In the position, Sergey will be responsible for the implementation of Lenta's IT strategy, digital transformation and the modernization of the Company's operations with a focus on bringing future technology into Lenta's current IT stack. Sergey will report directly to Vladimir Sorokin, CEO of Lenta.

Prior to joining Lenta, Sergey worked at Prosveshcheniye education holding, where he led information technologies and the development of digital products. Prior to Prosveshcheniye, Sergey held various positions at M.Video-Eldorado Group. He also led projects for different business functions, including the transformation of the IT department. Sergey holds a Master of Business Administration degree from the Higher School of Economics.

Vladimir Sorokin, Lenta's Chief Executive Officer, commented:

"First, I would like to thank Sergey Korotkov on behalf of the Company for his contribution to Lenta's progress in digital transformation. We are delighted to welcome Sergey Sergeev to Lenta as our Chief Information Officer. His appointment adds further strength to Lenta's leadership team, and I firmly believe that his industry experience will be an important factor in our future growth and digital transformation."

For further information, please visit www.lentainvestor.com or contact:

About Lenta

Lenta IPJSC (LSE: LNTA, MOEX: LNTA, LENT) is a leading Russian multi-format food and FMCG retailer. The company operates hypermarkets, supermarkets, and recently launched a new proximity store format under the brand "Mini Lenta." It also provides customers the option to shop online via its click-and-collect and express delivery services. Lenta is Russia's largest hypermarket operator and the fourth largest food retailer overall by Sales. The company was founded in 1993 in St. Petersburg and as of December 31, 2021, operated 254 hypermarkets and 503 supermarkets and convenience stores in 89 cities across Russia with more than 1.7 million square meters of Selling Space. The average Lenta hypermarket has approximately 5,500 square meters of selling space, the average Lenta supermarket has 800 square meters, and the Mini Lenta format is 500 meters on average. The company operates 14 distribution centers to supply all of its stores. 2021 Revenues were RUB 484 billion (approximately USD 6.5 billion).

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 Lenta'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 Lenta speak only as of the date of this announcement. Except as required by any applicable laws or regulations, Lenta 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.