X5 GROUP REPORTED ON THE FIRST RESULTS OF THE EXECUTION OF REMEDIES

Additional social obligations of the company's stores are extended to the purchased outlets

In October 2022, FAS Russia granted the applications of X5 Group to acquire 70% of the shares in the authorized capital of the Slata and Krasny Yar retail chains, subject to the fulfillment of the remedies of FAS Russia.

The retailer informed FAS Russia that the transactions were registered on November 1, 2022. At the same time, from the moment of their commission, X5 Group extended to the acquired companies voluntary obligations operating in the network to limit margins on certain items of food. The company sent supporting materials to FAS Russia, namely, information on average purchase and retail prices for socially significant first-price food products in stores of the Slata and Krasny Yar retail chains for this period. The dissemination of voluntary commitments is designed to support consumers and help reduce product prices.

In addition, after the transaction, X5 Group continues to fulfill all contracts concluded by Slata and Krasny Yar retail chains so that the change of ownership does not infringe on the rights of counterparties of the acquired companies.

FAS Russia will continue to monitor the fulfillment of these conditions throughout the duration of the remedies.