Summer's last month reversed the negative trend of the previous two months. Such a development is supportive for Jumbo Group management to maintain its recent estimates for the year.

• Overall for the Jumbo Group, August 2024 sales increased by c. +8% y-o-y.
•  For the 8-month period, January to August, the group's sales have increased by c. +7% y-o-y.

The transit of goods through the Suez Canal has yet to normalize and the major irregularities in the supply chain are still un-resolved. Therefore, for the full year, management's estimates stands; sales growth in 2024 to up by +4%, and profitability flirting with 2023 levels.

• Jumbo's strategy remains the same; to continue its investment program, to respect the consumer and reward shareholders – partners.

In this context, the management of the Jumbo Group will convene an Extraordinary General Meeting on 26 September to propose the approval of a two-year share buy-back program of up to 10% of the share capital. Any shares acquired will be cancelled.

• A minimum purchase price of EUR 1 per share and a maximum purchase price of EUR 27,20 per share will be proposed.

Management believes that, at the current share price, the share buy-back program rewards existing shareholders for their confidence in the company by giving them the opportunity (instead of an additional dividend), to invest indirectly by increasing their shareholding in the Company.

Sales performance by country:

Greece:

In August 2024, the net sales of the parent company - excluding intragroup sales – increased by c. 7% y-o-y.

Overall, for the eight months of 2024 the net sales of the parent company - excluding intragroup sales – increased by c. 7% y-o-y.

Cyprus

The network's sales increased by c. 3% y-o-y in August 2024. Overall, for the eight months of 2024 the network's sales increased by c. 1% y-o-y.

Bulgaria

The network's sales increased by c. 9% y-o-y in August 2024. Overall, for the eight months of 2024 the network's sales increased by c. 9% y-o-y.

Romania

The network's sales (including the on-line store www.e-jumbo.ro) increased by c. 11% y-o-y in August 2024. Overall, for the eight months of 2024 the network's sales increased by c. 12% y-o-y.