X5 RETAIL GROUP ANNOUNCES RESULTS OF AGM

X5 RETAIL GROUP ANNOUNCES RESULTS OF AGM

Amsterdam, 12 May 2021 - X5 Retail Group N.V. ("X5" or the "Company"), a leading Russian food retailer that operates the Pyaterochka, Perekrestok and Karusel chains (LSE and MOEX ticker: "FIVE"), today held its Annual General Meeting of Shareholders (the 'AGM').

The shareholders and holders of global depository receipts ("GDRs") adopted X5's 2020 financial statements and approved the proposed 2020 annual dividend of RUB 184.13 per GDR[1] for the full year. Therefore, a final dividend of RUB 110.49 per GDR will be paid to GDR holders within 45 days from the date of the AGM in accordance with the dividend policy. This is in addition to the interim dividend of RUB 73.64 per GDR which was paid on 31 December 2020. Shareholders and holders of global depository receipts adopted all other proposals on the agenda, including:

· Re-appointment of Igor Shekhterman as member of the Management Board and CEO;

· Re-appointment of Stephan DuCharme and Mikhail Fridman, and appointment of Richard Brasher and Alexander Tynkovan, as members of the Supervisory Board;

· Remuneration policy for the Management Board.

Furthermore, Ernst & Young Accountants LLP was re-appointed as the external auditor of the Company for the financial year 2021.

The voting results of the meeting can be found in the Corporate Governance section of the Company's website at:

https://www.x5.ru/en/Pages/Investors/GeneralMeetingOfShareHolders.aspx

Note to Editors:

X5 Retail Group N.V. (LSE and MOEX: FIVE, Fitch - 'BB+', Moody's - 'Ba1', S&P - 'BB+', RAEX - 'ruAA+') is a leading Russian food retailer. The Company operates proximity stores under the Pyaterochka brand, Perekrestok supermarkets and Karusel hypermarkets. X5 provides an omnichannel experience to customers, integrating retail stores and e-commerce, through its businesses Vprok.ru Perekrestok, 5Post and Okolo.

As of 31 March 2021, X5 had 17,959 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 16,960 Pyaterochka proximity stores, 940 Perekrestok supermarkets and 49 Karusel hypermarkets. The Company operates 41 DCs and 4,014 Company-owned trucks across the Russian Federation.

X5 is one of the largest employers in Russia. The Company employs over 339 thousand people.

For the full year 2020, revenue totalled RUB 1,978,026 mln (USD 27,417 mln), EBITDA pre-IFRS 16 reached RUB 145,137 mln (USD 2,012 mln), and net profit pre-IFRS 16 for the period amounted to RUB 39,180 mln (USD 543 mln). In Q1 2021, revenue totalled RUB 507,191 mln (USD 6,822 mln), adjusted EBITDA pre-IFRS 16 reached RUB 35,475 mln (USD 477 mln), and net profit pre-IFRS 16 amounted to RUB 9,163 mln (USD 123 mln).

X5's Shareholder structure is as follows: CTF Holdings S.A. - 47.86%, Intertrust Trustees Ltd (Axon Trust) - 11.43%, X5 Directors - 0.09%, treasury shares - 0.01%, Shareholders with less than 3% - 40.61%.

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.