November 2020 reversed the optimistic process of covering the lost ground

November 2020 was affected from the second wave of the pandemic that led to the closure of all stores in Greece and the closure of three out of the five stores in Cyprus.

The imposing of strict restrictions led the Group’s sales for November 2020 to decline by approximately -35% y-o-y widening the total sales decline for the 11-month period to approximately -10,7% y-o-y.

As at November 30, 2020, the full and normal operation of the Group’s five stores in Cyprus has started, while all the stores in Romania and 8 out of the 9 stores in Bulgaria continue to operate.

As we head towards the final stretch of the Christmas and New Year celebration, stores in Greece continue to remain closed, pending decisions on the recommencement of retail operations in Greece.

Summarizing the performance of 2020 up to date:

• Sales in January increased by approximately + 13% y-o-y.
• In February sales increased by + 23% y-o-y.
• Group’s sales in March recorded a decrease of approximately -51% y-o-y affected by government decisions taken per country to limit the spread of the first wave of the pandemic in Europe.
• In April, with most of the stores to remain closed and the rest to underperform, the Easter Season was permanently lost. Sales recorded a drop (-86%), always compared to the same month last year.
• In May, there was a gradual restart of the economy. With most stores operating in Greece and the three out of the five stores in Cyprus, in combination with the gradual lifting of the restrictions in Bulgaria and Romania, the Group's sales for this month were driven by double-digit growth (+ 13,6%).
• June and July remained in positive territory recording approximately a +5,8% y-o-y and a +8% y-o-y increase in sales respectively.
• August sales demonstrated a contraction by -2% y-o-y due to the decline of tourism.
• September and October 2020 recorded once again a positive rate of sales increase for the Jumbo Group by approximately +1,2% y-o-y and by +12,7% y-o-y respectively.
• November 2020, with the store network in Greece being closed and in Cyprus three out of five stores also being closed, recorded a drop in sales by approximately -35% y-o-y, widening the total sales decline for the 11-month to -10,7% y-o-y from -7% y-o-y during the 10-month period of 2020.
• There are no longer prohibitions on the operation of commercial stores in any other country - of those in which the JUMBO Group operates, except from Greece.