Slide 1: Financial Results
Financial Results For the year ended March 2021 1 1
Slide 2: Agenda
1. Business Update 2. Financial Update Agenda 3. Closing remarks
Slide 3: Business Update
Business Update Bob van Dijk 3
Slide 4: FY21 was an exceptionally strong year for the Group
FY21 was an exceptionally strong year for the Group 2021 Highlights • Strong and accelerated revenue growth and profit improvement • Solid operational execution and significantly increased asset valuations supported our strategy • The events of the year have accelerated the scale of our operations a
Slide 5: Our strategy builds businesses with sustainable growth potential
Our strategy builds businesses with sustainable growth potential … …where we can FOCUS Building global …addressing …in high build sustainable AREAS technology leaders big social needs growth markets leadership positions OPERATING Global Local MODEL Investor Operator outlook entrepreneurs CORE Active
Slide 6: And has produced tremendous growth over time
… And has produced tremendous growth over time Classifieds Building a long-lasting 43% ecosystem for the future 5 year CAGR1 Market leaders in many Food Delivery countries pursuing meaningful 145% 5 year CAGR1 adjacencies Payments & A massive opportunity in India 33% Fintech as consumers shift to di
Slide 7: Growth accelerated and all financial metrics improved in 2021
Growth accelerated and all financial metrics improved in 2021 ... FY20 FY21 Group Revenue growth1 23% 33% Ecommerce Revenue growth1 33% 54% Trading Profit growth1 16% 44% Free Cash flow ($338m) $126m Core HE growth2 13% 39% 1 Reported on an economic-interest basis, i.e. equity-accounted investments
Slide 8: Adding significant additional value to our strong portfolio
… Adding significant additional value to our strong portfolio We continue to scale our Ecommerce segment into large valuable platforms Net Asset Value of Ecommerce1 ($’bn) US$100bn vision $39bn 39 FY21 Ecommerce Net Asset Value1 22 19 14 9 FY17 FY18 FY19 FY20 FY21 54% 21% $16bn Ecommerce revenue gro
Slide 9: Classifieds' innovation driving growth today and in the future
Classifieds' innovation driving growth today and in the future Scaling a transaction ecosystem Operating exceptional companies Our Classifieds portfolio around C2C trade Avito1 Revenue RUB’bn Marketplace Inspection reports 31 >322m3 Pay & Ship Instant cash average monthly users 26 42% CAGR Wallet Fi
Slide 10: Food Delivery scaling in an ever-increasing market opportunity
Food Delivery scaling in an ever-increasing market opportunity Developing a deep ecosystem in on- Operating exceptional companies Our Food Delivery portfolio demand commerce iFood Brazil Orders (m) 542 70% B2B Data insights growth in GMV1 Loyalty Cloud kitchens Virtual & 151% CAGR Meal vouchers priv
Slide 11: Scaling presence in India into massive Payment & Fintech opportunity
Scaling presence in India into massive Payment & Fintech opportunity Creating a broader Fintech ecosystem Operating exceptional companies Our Payment & Fintech portfolio for merchants & consumers India Total Payment Value (TPV) $bn 20 high growth markets Credit Credit 27 51% Online payments Deposits
Slide 12: Edtech has become our fourth segment with rapid growth potential
Edtech has become our fourth segment with rapid growth potential A sector with large consumer spend We have invested in a great set of assets with incredible potential being transformed by technology Education market opportunity ($’Tr) Enterprise / Vocational K-12 10.0 5.4 2020 2030 $10 trillion + $
Slide 13: We invested across the entire portfolio in 2021 and in 2022
We invested across the entire portfolio in 2021 and in 2022 $7bn1 Classifieds Food Delivery Payments & Fintech Edtech Ventures & other $0.4bn $3.3bn $0.1bn $2.8bn $0.6bn 1 M&A from 1 April 2020 to the date of the earnings release. 13
Slide 14: Creating a sustainability impact where it matters most
Creating a sustainability impact where it matters most Defining our approach Our progress Environment • Carbon neutral on scope 1&2 for corporate and all majority owned businesses Lead Sustainable • Deep dive to map group carbon profile on operational and financed emissions Value creation • Reportin
Slide 15: Financial Update
Financial Update Basil Sgourdos 15
Slide 16: FY21 Financial Highlights: A fundamentally stronger business
FY21 Financial Highlights: A fundamentally stronger business Summary financials ($’bn) 1 Accelerated Ecommerce revenue growth Revenue1 Trading profit1 34% (33%) 49% (44%) 2 Significantly improved profitability and cash flow 28.8 5.6 21.5 3.8 Group’s diversified portfolio positioned well during uncer
Slide 17: Ecommerce revenue growth accelerated in FY21
Ecommerce revenue growth accelerated in FY21 YoY Ecommerce revenue growth (%)1 Segmental revenue growth (%)1 127% FY20 FY21 105% 54% Classifieds recovered sharply in 2H growing 36%, compared to the decline seen in 1H (-3%) 54% 33% 37% 36% 21% 18% 16% FY20 FY21 Food Delivery Classifieds Payments & Fi
Slide 18: Classifieds & Payments resurgence drives accelerated growth in 2H
Classifieds & Payments resurgence drives accelerated growth in 2H YoY Ecommerce revenue growth (%)1 Segmental revenue growth (%)1 141% 1H FY21 2H FY21 118% 56% 51% 70% 45% 42% 36% 29% -3% 1H FY21 2H FY21 Food Delivery Classifieds Payments & Fintech Etail 1 Results reported on an economic-interest ba
Slide 19: Ecommerce trading margin improved meaningfully
Ecommerce trading margin improved meaningfully Ecommerce trading loss margin (%)1 Segmental trading (loss)/profit margin (%)1 FY20 FY21 2p.p 3% 1% 3% -7% -1% 4p.p 11p.p -12% -18% -16% 4p.p -24% -83% 59p.p FY20 FY21 Food Delivery Classifieds Payments & Fintech Etail 1 Results reported on an economic-
Slide 20: Classifieds maintained strong growth and regained momentum
Classifieds maintained strong growth and regained momentum Revenue ($’m)1 Trading profit/(loss) ($’m)1 25% (18%) • We continue to invest in products and solutions which enable a 1 599 more efficient marketplace and drive long-term growth. • Marketing investment increased to aid the strong recovery a
Slide 21: Food Delivery doubled revenue and significantly improved profitability
Food Delivery doubled revenue and significantly improved profitability Revenue ($’m)1 Trading loss ($’m)1 98% (127%) • iFood saw tremendous revenue growth and is building a sustainable 1 486 and profitable business. Losses decreased $204m YoY. • DH leveraging momentum and investing for growth. • Swi
Slide 22: Payments growing well and profitable at the core
Payments growing well and profitable at the core as we invest in the Indian ecosystem Revenue (US$’m)1 Trading profit/(loss) (US$’m)1 35% (36%) 577 • Strong top-line growth of 36% driven by an acceleration in digital payments volumes in GPO and India in 2H. 78 • Profitability in core PSP improved in
Slide 23: Profitable businesses continue to scale
Profitable businesses continue to scale Consolidated revenue from profitable Consolidated trading profit from profitable Dividends to HoldCo (#039;m) ecommerce businesses ($’m)1 ecommerce businesses ($’m)1 Dividend from Classifieds impacted by the Covid-19 37% (39%) pandemic in the 1% first quarter 32%
Slide 24: FCF reflects strong performance from operations
FCF reflects strong performance from operations Incremental FCF, YoY ($’m)1 (40) 81 127 126 73 (338) 350 FY20 Cash from ope rations Working capital Tencent dividends Capex, Tax & O th er FY21 (excludin g WC) 1 FCF defined as EBITDA less adjustments for non-cash items, working capital, taxation, capi
Slide 25: Prosus distribution clearly defined and based on terminal economics
Prosus distribution clearly defined and based on terminal economics1 Distribution of 14 euro cents under the proposed cross- 59.7% holding agreement between Naspers and Prosus1 40.3% ~EUR207m free float free float ~EUR124m ~EUR83m Capital repayment will be paid Dividend will be paid and from share c
Slide 26: Diversified sources of funding, proven access to debt market
Diversified sources of funding, proven access to debt market Increased leverage at lower cost of debt while Strong liquid financial position ($’bn) maintaining a low LTV Net debt1 $3.1bn at 31 March 2021 3 Year debt1 profile 6.00% 5.45% 4.65% 5.00% 3.91% 4.8 4.00% Cash Debt 3.00% 7.9 7.9 2.00% 3.2 3
Slide 27: Closing remarks
Closing remarks Bob van Dijk 27
Slide 28: Share exchange offer right sizes the group for the future
Share exchange offer right sizes the group for the future Prosus’s portfolio of unique fast growing business and investments Public Private And many others $268bn NAV Ownership and distribution governed by agreement 59.7% 40.3% $160bn NAV $108bn NAV free float free float free float EUR154 per share
Slide 29: Key takeaways and thoughts for the future
Key takeaways and thoughts for the future 1 Our strategy works, our operations are strong and growing rapidly 2 We will continue to invest in the growth of our core segments and ventures organically and through M&A 3 We have proposed a transaction that we believe better positions Naspers and Prosus
Slide 30: Appendix
Prosus Appendix
Slide 31: Naspers FY21 Operational and Financial Summary
Naspers FY21 Operational and Financial Summary Summary financials ($’bn)1 A strong financial performance of Prosus almost complexly Revenue2 Trading profit2 1 accounts for Naspers results 34% (32%) 35% (39%) Takealot had an exceptionally strong year reporting GMV growth 2 of 84% and significantly im
Slide 32: Group portfolio
Group portfolio 73% Local SA assets 100% 100% Ecommerce Social & internet platforms Payments & 29% Classifieds Food delivery Etail Edtech Ventures Fintech 100% 1 100% 93% 80% 14% 21% 27% 100% 100% 62% 2 42% 21% 16% 39% 72% 25% 40% 14% 40% 91% 40% 11% 17% 91% 100% 14% 9% 16% 79% 13% 38% 16% 19% 2% 3
Slide 33: Disclaimer
Prosus Disclaimer
Slide 34: Important information – Disclaimers
Important information – Disclaimers Forward-looking statements This presentation contains statements about Prosus and/or Naspers that are, or may be, forward-looking statements. All statements (other than statements of historical fact) are, or may be deemed to be, forward-looking statements, includi
Slide 35: Important information - Disclaimer (cont)
Important information - Disclaimer (cont) Shareholders should note that the Prosus Board reserves the right, in its discretion, to decide not to proceed with the Proposed Transaction and, as such, the Proposed Transaction may or may not proceed. This presentation is for information purposes only and
Slide 36: Important information – Disclaimer (cont.)
Important information – Disclaimer (cont.) In member states of the European Economic Area (“EEA”) (each, a “Relevant Member State”) no action has been undertaken or will be undertaken to make an offer to the public of Securities requiring publication of a prospectus in any Relevant Member State. As
Slide 37: Important information – Disclaimer (cont.)
Important information – Disclaimer (cont.) Investors are advised to read the Transaction Documentation, which will contain the terms and conditions of the Proposed Transaction, with care and in full. Any decision to approve the resolutions required to implement the Proposed Transaction or analysis o
Slide 38: If you require any further information, please visit our website
If you require any further information, please visit our website www.prosus.com/investors or alternatively email Eoin Ryan (Head of Investor Relations) at InvestorRelations@prosus.com