DE 576

CEM
stores

24

BER
new opened

$32.5M
2019 in system sales

Monthly Update
+48%
year-over-year
growth
 System-wide Sales December: 2 012 MM RUB / 32,5 MM USD

RUB MM USD MM
2 100 2 012 40
Russia CIS EMEA Other Total in USD

1 801 1 799
1 800 1 761 1 751
1 687 1 701
1 634 1 623
1 522 1 534
1 449 1 481 32,5
1 500 30

28,2 28,1
1 200 27,2
26,1 26,1 25,9 26,5
25,6
23,2 22,9
900 21,9 22,0 20

600

300 10
Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19

Note: system-wide sales - gross sales (incl. VAT where applicable but excluding sales tax) of all Dodo Pizza stores including both franchised and company-
owned. Converted from local currencies at end-of-month FX rates as per the Central Bank of Russia. Link: sales and traffic of each store since inception.

1
Store Count December: 24 new stores, 576 total

Russia CIS EMEA Other

576
538 552
510 521 526
491 499 58
467 480 54
440 448 455 48 48 52
43 44 46
42 42
40 41 41
464 476 496
427 434 443 452 457
390 397 408 420
383

Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19

New stores RUSSIA: KAZAKHSTAN: BELARUS:

Astrakhan – 4 Moscow 1-19 Novosibirsk – 9 Almaty – 16 Gomel – 1
December Khabarovsk – 2 Moscow 1-25 Omsk – 3 Pavlodar – 1 Minsk – 10
Krasnodar – 10 Moscow 17-2 Saint Petersburg 2-3
Labytnangi – 1 Moscow 4-19 Sterlitamak – 2
Likino-Dulevo – 1 Nizhnekamsk – 2 Veliky Novgorod – 2
Mineralnyye Vody – 1 Novocherkassk – 1 Yaroslavl – 4
Moscow 0-18 Novosibirsk – 8

2
Chain Growth Pipeline
+ 319 =

+ 68

963
576

Existing stores Stores under construction Remaining committed Total existing and pipeline
stores
Note: as of 31 December 2019.
3
CHAIN
RESULTS

4
 Russia Sales Evolution December: MoM +12.1%, YoY +31%

Month over Month (MoM) Year over Year (YoY)

RUB MM +11% +1.1% +12.1% RUB MM +8% +23% +31%

1 900
2 000
1 800
173 17 1,764 308 1,764
1 700 1 600 108
1,348
1 600 1,574
1 200
1 500
800
1 400

1 300 400
Nov-19 LFL New stores Dec-19 Dec-18 LFL New stores Dec-19

Traffic Av. ticket LfL MoM Traffic Av. ticket LfL YoY

+4.9% × +5.8% = +11.0% +10.7% × -2.5% = +8.0%

Note: gross sales including VAT where applicable. Traffic stand for order count. LFL stands for like-for-like.

5
Like for Like Sales and Traffic (Russia)
YoY LFL – Detailed Review of December 2019
SALES TRAFFIC AVERAGE TICKET
Store
Store age
Count Dine-in Delivery T-away Total Dine-in Delivery T-away Total Dine-in Delivery T-away Total

1-2 yrs old 130 34.7% 37.9% 63.8% 37.9% 43.9% 34.3% 85.6% 41.8% -6.4% 2.6% -11.8% -2.7%

2-3 yrs old 113 -2.0% 4.0% 13.0% 2.6% 2.3% 3.5% 22.7% 3.6% -4.2% 0.5% -7.9% -1.0%

>3 yrs old 138 -7.6% 0.2% 7.5% -1.8% -1.3% 0.2% 17.7% 0.1% -6.4% 0.0% -8.6% -1.9%

Dynamics of YoY LFL for all stores older than 2 years

Sales Traffic
20% 20%
16%
10%
7% 5%
4% 3%
2% 1% 1% 0% 2%

-1% 0% -1% 0% -1%

-2%
-5% -6%
-8% -8% -7%

Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19
6
 CIS Sales Evolution December: MoM +13.7%, YoY +47%

Month over Month (MoM) Year over Year (YoY)

RUB MM +10.4% +3.3% +13.7% RUB MM +14% +33% +47%

210
200
180 5 37 167
167
15
147 150 16
150
114
100
120

90 50

60 0
Nov-19 LFL New stores Dec-19 Dec-18 LFL New stores Dec-19

Traffic Av. ticket LfL MoM Traffic Av. ticket LfL YoY

+9.8% × +0.6% = +10.4% +16.7% × -2.1% = +14.2%

Note: gross sales including VAT where applicable. Traffic stand for order count. LFL stands for like-for-like.

7
Like for Like Sales and Traffic (CIS)
YoY LFL – Detailed Review of December 2019
SALES TRAFFIC AVERAGE TICKET
Store
Store age
Count Dine-in Delivery T-away Total Dine-in Delivery T-away Total Dine-in Delivery T-away Total

1-2 yrs old 21 5.3% 30.0% 54.7% 17.2% 1.8% 39.6% 48.7% 12.0% 3.4% -6.9% 4.1% 4.7%

>2 yrs old 19 3.1% 24.1% 14.5% 13.9% 18.4% 32.1% 33.5% 24.0% -12.9% -6.0% -14.2% -8.2%

Dynamics of YoY LFL for all stores older than 2 years

37% Sales Traffic

33% 31% 31% 30%
27% 27% 27% 26%
24% 23% 24%
20% 19% 19%
17% 16% 16% 15% 16% 16% 17%
14%
6%

Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19

8
 EMEA Sales Evolution December: MoM +5.2%, YoY +44%

Month over Month (MoM) Year over Year (YoY)

+5.2% +0.0% +5.2% +14% +30% +44%

RUB MM RUB MM

100 100

80 4 76 80 16 76
72
7
60 60 53

40 40

20 20
Nov-19 LFL New stores Dec-19 Dec-18 LFL New stores Dec-19

Traffic Av. ticket LfL MoM Traffic Av. ticket LfL YoY

+5.3% × -0.0% = +5.2% +27.5% × -10.8% = +13.8%

Note: gross sales including VAT where applicable. Traffic stand for order count. LFL stands for like-for-like.

9
Like for Like Sales and Traffic (EMEA)
YoY LFL – Detailed Review of December 2019
SALES TRAFFIC AVERAGE TICKET
Store
Store age
Count Dine-in Delivery T-away Total Dine-in Delivery T-away Total Dine-in Delivery T-away Total

1-2 yrs old 5 5.6% 31.2% 45.7% 24.0% 50.3% 42.4% 76.2% 48.7% -29.8% -7.8% -17.3% -16.6%

>2 yrs old 7 -3.3% 18.8% 2.5% 9.8% 14.1% 26.7% 29.7% 19.7% -15.3% -6.2% -21.0% -8.3%

Dynamics of YoY LFL for all stores older than 2 years

Sales Traffic

24% 24%
18% 17% 19% 18% 20%
16% 13% 12%
10% 7% 10% 11% 11% 8% 9% 10%
6% 5%
2% 1%

-2% -3%

Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19
10
FINANCIAL
UPDATE

11
Franchising – Consolidated Results
(RUB thousands) Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19* Oct-19* Nov-19 LTM

Number of stores 439 447 455 467 480 491 498 510 521 526 538 552 552

Sales of stores 1,521,540 1,533,471 1,449,373 1,687,185 1,481,056 1,700,719 1,634,392 1,622,504 1,760,864 1,750,777 1,800,744 1,799,212 19,741,837

Concession payments (494) 4,194 4,283 4,117 4,019 4,200 4,296 6,246 4,426 5,336 1,913 2,538 45,074

Royalties 63,675 64,528 61,487 71,655 63,575 73,247 70,315 70,041 76,045 75,773 78,851 79,557 848,749
as % of system sales (adj. for
4.2% 4.2% 4.2% 4.2% 4.3% 4.3% 4.3% 4.3% 4.3% 4.3% 4.4% 4.4% 4.3%
VAT)
per franchised store 145.0 144.4 135.1 153.4 132.4 149.2 141.2 137.3 146.0 144.1 146.6 144.1 143.3

Franchising revenue 63,181 68,722 65,770 75,772 67,594 77,447 74,611 76,287 80,471 81,109 80,764 82,095 893,823

Salaries and related expenses (32,066) (40,659) (42,434) (46,433) (49,691) (48,676) (49,957) (52,345) (50,520) (49,083) (48,850) (50,278) (560,992)

Business travel (1,450) (1,612) (2,166) (2,892) (2,725) (2,916) (2,390) (2,672) (1,144) (1,467) (2,245) (1,911) (25,590)

Services and outsourcing (6,120) (5,109) (5,224) (6,017) (6,743) (5,166) (7,045) (7,536) (4,950) (6,446) (10,047) (3,941) (74,344)

Hosting & software (7,544) (7,684) (7,909) (8,035) (9,029) (8,812) (8,514) (8,680) (9,281) (9,009) (9,311) (8,771) (102,579)

Rent and utilities (3,013) (2,825) (3,003) (3,413) (3,864) (4,098) (4,053) (4,328) (4,014) (3,798) (3,846) (3,996) (44,251)

Other operating expenses (3,230) (1,018) (1,156) (3,627) (1,868) (1,450) (1,153) (1,591) (5,146) (6,105) (11,259) (3,009) (40,612)

EBITDA 9,758 9,815 3,878 5,355 (6,326) 6,329 1,499 (865) 5,416 5,201 (4,794) 10,189 45,455

Capex (3,120) (2,713) (6,696) (2,717) (2,029) (2,156) (552) (570) (816) (38) (968) (367) (22,742)

Note: franchising results net of VAT; sales of franchised stores includes VAT where applicable.
• The amounts have been updated since previous monthly presentation.
Source: management accounts.
12
 Corporate Chain – Consolidated Results
(RUB thousands) Dec-18 Jan-19** Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19** Aug-19** Sep-19** Oct-19** Nov-19 LTM

Number of corporate stores 20 20 19 20 20 21 21 22 23 23 24 25 25

Restaurant & take-away 28,879 39.1% 26,232 37.7% 24,824 36.7% 28,941 37.6% 27,179 40.3% 30,066 41.4% 28,878 42.2% 29,684 44.4% 32,386 45.2% 32,296 43.6% 35,800 43.7% 32,880 40.8% 358,045 41.1%
Delivery 45,039 60.9% 43,310 62.3% 42,767 63.3% 48,071 62.4% 40,218 59.7% 42,635 58.6% 39,618 57.8% 37,156 55.6% 39,248 54.8% 41,722 56.4% 46,082 56.3% 47,671 59.2% 513,538 58.9%
Sales 73,918 69,542 67,592 77,012 67,397 72,701 68,496 66,840 71,634 74,018 81,882 80,551 871,583

Food cost (24,116) 32.6% (24,084) 34.6% (22,249) 32.9% (24,915) 32.4% (22,015) 32.7% (22,630) 31.1% (21,133) 30.9% (20,646) 30.9% (21,490) 30.0% (21,706) 29.3% (24,205) 29.6% (23,911) 29.7% (273,101) 31.3%
Labour cost (22,263) 30.1% (23,155) 33.3% (20,396) 30.2% (23,048) 29.9% (20,083) 29.8% (20,724) 28.5% (19,936) 29.1% (19,071) 28.5% (19,697) 27.5% (20,530) 27.7% (21,690) 26.5% (23,026) 28.6% (253,620) 29.1%

delivery cost (8,087) 18.0%* (7,709) 17.8%* (7,361) 16.2%* (8,295) 17.3%* (6,969) 17.3%* (6,813) 16.0%* (6,753) 17.0%* (6,220) 16.7%* (6,360) 16.2%* (6,761) 16.2%* (7,472) 16.2%* (7,919) 16.6%* (86,720) 16.9%*

Rent (6,111) 8.3% (6,238) 9.0% (6,223) 9.2% (6,139) 8.0% (6,492) 9.6% (6,615) 9.1% (6,670) 9.7% (7,348) 11.0% (8,019) 11.2% (8,226) 11.1% (8,558) 10.5% (8,704) 10.8% (85,344) 9.8%

Utilities (2,953) 4.0% (2,604) 3.7% (3,055) 4.5% (3,133) 4.1% (2,998) 4.4% (2,499) 3.4% (2,603) 3.8% (2,485) 3.7% (2,664) 3.7% (2,516) 3.4% (2,806) 3.4% (3,513) 4.4% (33,828) 3.9%

Marketing (2,010) 2.7% (2,280) 3.3% (2,631) 3.9% (3,434) 4.5% (3,859) 5.7% (3,633) 5.0% (3,444) 5.0% (4,370) 6.5% (4,640) 6.5% (4,558) 6.2% (5,510) 6.7% (5,230) 6.5% (45,598) 5.2%

Royalties (2,875) 3.9% (2,619) 3.8% (2,559) 3.8% (2,905) 3.8% (3,294) 4.9% (3,548) 4.9% (3,331) 4.9% (3,273) 4.9% (3,538) 4.9% (3,785) 5.1% (4,159) 5.1% (4,185) 5.2% (31,727) 3.6%

Other (7,017) 9.5% (6,247) 9.0% (6,117) 9.1% (5,990) 7.8% (5,145) 7.6% (4,863) 6.7% (4,778) 7.0% (5,721) 8.6% (4,586) 6.4% (4,864) 6.6% (5,300) 6.5% (5,167) 6.4% (65,796) 7.5%

Distribution centre expenses (443) 0.6% (531) 0.8% (453) 0.7% (492) 0.6% (415) 0.6% (391) 0.5% (403) 0.6% (424) 0.6% (411) 0.6% (463) 0.6% (413) 0.5% (411) 0.5% (5,249) 0.6%

Store-level EBITDA 6,130 8.3% 1,785 2.6% 3,909 10.0% 6,957 9.0% 3,095 4.6% 7,798 10.7% 6,199 9.0% 3,502 5.2% 6,589 9.2% 7,369 10.0% 9,240 11.3% 6,404 8.0% 68,977 7.9%

Chain overhead (4,132) 5.6% (4,767) 6.9% (4,660) 6.9% (5,090) 6.6% (5,412) 8.0% (5,014) 6.9% (5,355) 7.8% (5,430) 8.1% (5,248) 7.3% (5,270) 7.1% (5,688) 6.9% (5,244) 6.5% (61,310) 7.0%
EBITDA 1,997 2.7% (2,982) (4.3%) (751) (1.1%) 1,867 2.4% (2,317) (3.4%) 2,783 3.8% 844 1.2% (1,927) (2.9%) 1,341 1.9% 2,100 2.8% 3,552 4.3% 1,160 1.4% 7,667 0.9%

Capex (4,318) (1,221) (5,201) (5,299) (7,488) (11,208) (6,976) (10,661) (11,841) (11,300) (13,667) (16,004) (105,184)

Note: all results net of VAT.

The number of corporate stores includes corporate store in China, but the results are presented based on Russian chain results only.
* delivery costs as percentage of delivery revenue.
** The amounts have been updated since previous monthly presentation.
Source: management accounts - Syktyvkar, Moscow, St Petersburg.
13
Corporate Chain – Stores Review (1/3)
20% 15% 18% 13% 17% (4%) 10% 19% 3% 5%
November 2019
7 279
5 815
4 643 4 953
Margin
3 493
3 034 2 825
2 577
1 445 1 457 964 1 213 934
385 536 443 84 192
192

-47
SCW-1 SCW-2 SCW-3 SCW-4 Khimki-1 SCW-5 StP 0-1 MSK 0-1 MSK 0-11 StP 0-2

Format Full Full Full Express Full Express Full Full Full Full

Age (full months) 103 90 73 70 58 56 36 33 28 27

LfL YoY (sales) 22.1% 10.1% (15.2%) (11.1%) 14.7% (13.2%) (22.0%) 0.4% 10.0% (34.8%)

LfL YoY (traffic) 16.5% 16.2% (8.6%) (11.8%) 13.5% (4.4%) (19.8%) 4.3% 8.0% (26.1%)

Note: all results net of VAT. Store-level EBITDA does not include chain administrative expenses.
Source: management accounts - Syktyvkar, Moscow, St Petersburg.
14
Corporate Chain – Stores Review (2/3)
11% 8% 1% 11% 7% (4%) 9% (9%) 8% (2%)

November 2019
3 934
3 566 3 621 3 459
3 048 3 203 2 973 3 059
2 239 2 465
Margin

382 241 12 383 255 356

249

-127 -278 -39

MSK 0-7 MSK 0-12 MSK 0-13 MSK 0-10 MSK 0-9 MSK 0-16 MSK 0-3 MSK 0-8 MSK 0-17 MSK 0-15

Format Full Full Full Full Full Full Full Full Full Full

Age (full months) 23 23 20 17 16 15 15 13 13 8

LfL YoY (sales) 2.0% (11.8%) 20.6% 3.3% 3.5% 1.4% 56.7% 53.1% 117.4% n.a

LfL YoY (traffic) (3.2%) (14.8%) 34.3% 3.2% 1.1% (21.4%) 40.8% 99.6% 163.3% n.a

Note: all results net of VAT. Store-level EBITDA does not include chain administrative expenses.
Source: management accounts - Syktyvkar, Moscow, St Petersburg.
15
Corporate Chain – Stores Review (3/3)
(2%) 2% 7% (82%) % % % % % %
November 2019

4 095
Margin 3 537 3 626

438
59 238

-96
-360
MSK 0-19 StP 0-3 MSK 0-4 StP 0-4

Format Full Full Full Full

Age (full months) 4 3 1 0

LfL YoY (sales) n.a n.a n.a n.a

LfL YoY (traffic) n.a n.a n.a n.a

Note: all results net of VAT. Store-level EBITDA does not include chain administrative expenses.
Source: management accounts - Syktyvkar, Moscow, St Petersburg.
16