Building the leadingonline grocery & FMCG marketplace in Russia

The company at a glance

Market and competition

How the company works

Recent developments and future growth

03

07

10

21

2

SberMarket delivers high growth in terms of GMV, orders,...

1.5

5.14.4

8.9

10.0

0.4

1.3 1.4

2.8

3.5

6х 15х 11х 10х 7x 6х 17х 16х 15х 9x

SberMarket GMV, RUB bn YoY growth, x # of Orders Delivered, mn YoY growth, x

1Q’20 2Q’20 3Q’20 4Q’20 1Q’211Q’20 2Q’20 3Q’20 4Q’20 1Q’21

3

*average over the period. Monthly Customers - unique buyers who placed an order on our platform within one month **at the end of the period

4

…customers, retailers and FMCG brands

79

228258

494

580

5

3155

6061

38 64115 160

FMCG Brands**, #

1Q’20 2Q’20 3Q’20 4Q’20 1Q’21

1Q’20 2Q’20 3Q’20 4Q’20 1Q’211Q’20 2Q’20 3Q’20 4Q’20 1Q’21

Monthly Customers*, #k Retailers**, #

7x YoY12x YoY

8x YoY 300

Mission and Vision

Mission

To save time and money forour customers so that they can spend it on more important things

Vision

30 million Russian households trust SberMarket to deliver their groceries and essentials

5

The company at a glance

Market and competition

How the company works

Recent developments and future growth

03

07

10

21

6

Source: Infoline

Russia’s online grocery market is still in its infancy...

3.5%

2.6%

1.6%

0.8%

2023E2022E2021E20202019

295

704

+46% CAGR

25%

22%

10%12%

4.5%

0.8%

Source: Mercatus, ONS, Bureau of Economic Analysis, Statista

Share of online in food retail market by country 2020E, %

939

2024E 2030E

43

4.5%

155

10.1%

4.5%

2,836

Share in food retail market, %

3.0%

2024E

Online grocery market in Russia, RUB bn

0.3%

500

7

10%

2030E

...and quite fragmented in terms of competition

Scheduled Delivery

90-120 min

2,000-6,000 RUB

Express delivery

20-60 min

500-1,500 RUB

Scaling in 3Q-4Q

24.0e-grocery only

21.9

16.4

14.9

12.6

11.9

7.9

4.0

Source: Infoline, Yandex 4Q conference call

Key segments and playersTop e-grocery players’ GMV 2020, RUB bn

8

24.3

Sber Ecosystem

SberMarket 19.8

The company at a glance

Market and competition

How the company works

Recent developments and future growth

03

07

10

21

9

10

The marketplace is attractive operating model, with ability to grow and scale rapidly

There are several business models... …each with a unique set of features

PureplayOnline

120+ minCentralFulfilment Center

Dark Stores / Offline Stores

20-60 min

CentralFulfilmentCenter ●Small local stores

●Small dark stores 100-150 sq.m.

Marketplace

30-90 min Couriers●National retailers●Local supermarket chains

Light asset model (low CAPEX)

Same or lower prices compared to offline stores

Wide assortment of hypermarkets and supermarkets

Margins depend on take rate from retailers

Asset heavy (1P delivery & warehouses)

Same or higher prices compared to offline stores

Limited assortment of dark stores and supermarkets

High margins due to stock management

Asset heavy (1P delivery & warehouses)

Same or higher prices compared to offline stores

Wide assortment of fulfilment centers

High margins due to stock management

Clear customer value proposition

11

Hyper/supermarket prices and assortment

Offline promo and regular prices in online

● Often with offers of free delivery● Online prices are lower than on-the-shelf offline prices

due to direct contract with FMCG companies andlogistics optimization

Variety of options● Delivery within 90 min from hypermarkets● Delivery within 30 min from supermarkets● Click & collect (buy online, pick up at store)

● 7 of the top 10 retailers ● 54 of the next 90 retailers

Fast andconvenientservice

Lowestprices

Vastassortment

Seamless customer experience delivered by the top-notch development & product team

Users

12

Dec-19 Jun-20 Dec-20 Jun-21E Dec-21E

48

Development team headcount*, #

*at the end of period

57

170

355

600

Focus on daily needs of mass market audience of 55 million households across Russia

Gender, %

5

9

41

26

17

2

>55

45-55

35-45

25-35

18-25

<18

Age, %

Women

78%

Men

22%

13

Segment, %

Regions share in GMV

63%

Moscow & MO share in GMV

37%

Geo, %

50Housewifes | Moms w/ childrens

Price Focused

Working Professionals

Business | Proximity Stores

35

10

5

Express

Covering 100% of grocery & FMCG needs with over 700k unique SKUs in 61 retailers

Scheduled

Food

90 min

30 min

Click & collect

Non-Food*Model Sector

*Children's Goods, Pet Supplies, Health and Beauty, Home and Decor 14

SKUs — 435k

SKUs — 237k Retailers — 16

SKUs — 32k Retailers — 5

Retailers — 49

SKUs — 45k

SKUs — 184k

Retailers — 8

Retailers — 12

SKUs — 5k Retailers — 2

Efficient fulfilment process and well-trained pickers & couriers

Convenient ordering process

Distinctive buying experience with high customer satisfaction

Carefulpicking

Fast delivery

4.74 4.754.77

4.844.87 4.89

Jan-20 Mar-20 Jun-20 Sep-20 Dec-20 May-21

15

SberMarket has achieved its highest ever customer rating of 4.89 (out of 5)...

...and efficiency in order picking time (min)

Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21

48

44

41 4139

37

Revenue

Increasing sales and EBITDA for retailers...

Before

Complementary expertise from both sides...

...from SberMarket ...from Retailers

Last Mile Delivery

Analytics & Data Mining

Product Development

Content

B2B Sales

Online Marketing

CRM

Inventory Management

Supplier Relationship

Store Operations

Working Capital Management

Retro Bonuses

Distribution Management

Wholesales Logistics

...and EBITDA growth

+10%

+ SberMarket After

Gross Profit

Before

+4%

+ SberMarket After

EBITDA

Before

+13%

+ SberMarket After

16

…as well as providing white-label solutions

Metro C&C online store by SberMarket Benefits for retailers

Additional order channel with 0 investments

Efficient work with both b2c and b2b customers

Valuable information about offline on-shelf availability

17

Attractive advertising platform for brands with high personalization and ROI

Personalization “Netflix”

● Personalized promos and coupons

Advertising Platform “Google Adwords”

● Special banner ads and search

Number of brands working with SberMarket, #

1Q’20 2Q’20 3Q’20 4Q’20 1Q’21 5М’21

200

400

160

115

6438

18

HO

W IN

STA

MA

RT

WO

RK

S

Clear and solid monetization model with diversified revenue streams

Retailers take rate

Delivery fee

Marketing & data revenue

● Take rate from retailers ● Different pricing for light/heavy orders

● Surge delivery pricing to balance supply/demand

● Marketing and data revenue from FMCG brands

%

19

The company at a glance

Market and competition

How the company works

Recent developments and future growth

03

07

10

21

20

SberMarket is on track for over 3x YoY GMV growth in 2021

19.8

GMV*, RUB mln

2018 2019 2020

SberMarket also grew in 2020...

...14x YoY in orders delivered: from 0.4 mln to 5.9 mln

...12x YoY in available retailers:from 5 to 60

...9x YoY in available cities: from 17 to 147

*Net of promo, incl. VAT21

2021E

0.6 1.9

11x Over 3x 3x

Growth YoY, times

3x

Focusing on fast and convenient delivery for customers as well as mutually beneficial partnership with retailers and brands

22

Vast Assortment

Key Milestones

#1 technology partner for retailers 70 out of top-100 retailers work with us

#1 technology partner for brands

40 out of top-50 FMCG producers work with us

Lowest Prices

Delivery within 90 min from hypermarkets

Delivery within 30 min from supermarkets

Fast and Convenient Service

The main company focus in 2021

Fast delivery from supermarkets is one of the key drivers

23

Бетховен

У ПалычаПодружка

МираторгВкусВилл

Дочки-сыночки

City is splitted into small zonesThe maximum number of supermarkets and local stores in each zone

Customer acquisition and retention supported by Sber subscription model (Prime) and loyalty program (Spasibo)

24

Prime Subscription Value Proposition

Special promo offers for clients

Exclusive discounts for Prime subs

SberSpasibo as a loyalty program

SberMarket Prime client is more lucrative...

12% higher ARPU than non-prime

66% higher order frequency

Best retention among all cohorts

Ecosystem customer base Prime customer base

Clients with

Clients

Clients

25

Operational efficiency and new revenue streams empowered by Sber ecosystem

Operational efficiency

Pay

ID

New revenue channels