5 March 2024

X5’s russian subsidiary included in Russian Government’s list of companies potentially subject to federal law No. 470-FZ

Amsterdam, 5 March 2024 –  X5 Retail Group N.V. (“X5” or the “Company”, LSE and MOEX ticker: FIVE), which operates the Pyaterochka, Perekrestok and Chizhik retail chains, announces that the Company’s subsidiary in Russia, X5 Corporate Centre LLC, has been included in a list of companies that may be subject to the new Russian federal law No. 470-FZ Law (the “Law”), which was adopted on 4 August 2023 concerning the possible distribution of ownership interests in Russian entities to their ultimate owners.

The list was published by the Government of the Russian Federation on 4 March 2024 in connection with the Law, which permits certain categories of individuals connected to the companies on the list, or a Russian governmental entity, to commence legal proceedings that could have potential consequences for a non-Russian holding company, its Russian subsidiaries and shareholders. These consequences may include, among others, the distribution (within a Russian custodian infrastructure) of shares in the Russian subsidiary to ultimate shareholders of the non-Russian holding company, and a potential cash compensation to the non-Russian holding company.

Inclusion on the list does not necessarily mean that any such proceedings will be instigated, and at this stage it is unclear whether the inclusion of the Company’s Russian subsidiary on the list will result in any further actions being taken in respect of X5. The management board of the Company, with support from legal advisors, will continue to closely monitor the situation and to update all the stakeholders on any potential further developments. Meanwhile, the Company and its subsidiaries will continue to function as one group of companies pursuant to its corporate governance structure. The Company will continue to act in the best interests of X5 Group, its shareholders and other stakeholders.