Inpost S.a. · EURONEXT:INPST
Inpost — Investor Presentation (September 2026)
39 slides from Inpost's investor presentation, Sep 23, 2026
Slide 1: Company Presentation
Company Presentation September 2026 Strictly private and confidential
Slide 2: 1. Business Overview
1. Business Overview
Slide 3: Established track record of remarkable growth since 1999
Established track record of remarkable growth since 1999 Completed acquisition Parcel Volume in millions APM Poland APM International Completed Taking over 5% UK market acquisition share Recommended Int’l APMs all-cash offer 1b+ surpassing Poland APMs 10m app users #1 Parcel 1,509 in UK and volume >
Slide 4: Leading out-of-home e-commerce enablement platform in Europe
Leading out-of-home e-commerce enablement platform in Europe UK & Ireland 26% Poland Key numbers (LTM Q2 2026) Revenue split by 46% geography EUR 3.8b Parcel volumes (LTM Q2 2026) 1.5b Eurozone 28% +34% YoY UK & Ireland 23% Poland APM split by 43% Revenue geography 68,925 EUR 3.8b (LTM Q2 2026) Euro
Slide 5: InPost Model: continue investing in network coverage and service quality
InPost Model: The Group’s strategy is to continue investing in network coverage and service quality to drive sustainable long-term growth Y OG NOL CH TE D N A 4. A Greater AT Convenience ,D Benefits for merchants… …and consumers AI 1. Convenience 1 More sales 2 Reliability 3. Scale Improved Customer
Slide 6: Record-high APM deployment
Record-high APM deployment Locker leaders in European Markets Q2 2026 YoY(1) InPost OOH points 98,206 +10.2k UK & Ireland APMs 68,925 +15.6k Poland Poland 29,912 +3.1k Eurozone 23,385 +8.0k UK 15,628 +4.5k In line with Eurozone PUDOs 29,281 (5.5k) network optimization strategy of Poland 2,750 (1.1k)
Slide 7: Proven consumer platform replicating Poland success story across international markets
Proven consumer platform replicating Poland success story across international markets InPost Performance Over the Years Poland 2020 2025 Change France 2021 2025 Change # APMs 11k 28k +17k # APMs <1k 10k +9k EBITDA 41% 49% +8ppt EBITDA 7% 16% (’24) +9ppt 2025 | APMs: 5k UK 2020 2025 Change 2025 | AP
Slide 8: Same strategy, different starting point
Same strategy, different starting point Poland France United Kingdom #1 APM network #1 APM network InPost #1 APM network positioning 17m App users 7m App downloads 10m 90% 75% App downloads (2) Population within 7 mins from InPost APM(1) Population within 7 mins from InPost APM(3) • Strengthening le
Slide 9: New shareholders to drive InPost's growth potential
New shareholders to drive InPost’s growth potential Post-Transaction Shareholders(1) A&R Investments Clear Strategic Long-term Growth Focus Key FedEx Partnership to Unlock Further Growth ✓ Further expansion of InPost’s European footprint and parcel locker network ✓ FedEx brings deep industry experti
Slide 10: Building long-term value through ESG leadership
Building long-term value through ESG leadership In_Consumer In_Planet In_People WE CHANGE WE DELIVER WE MOTIVATE the lifestyle of low carbon e-commerce our Employees & tomorrow business partners Implementing sustainable CO2 reduction delivery to APM/PUDO vs. Advanced leadership consumer solutions: T
Slide 11: 2. Key Credit Highlights
2. Key Credit Highlights
Slide 12: Key credit highlights
Key credit highlights Market-leading e-commerce logistics enabler in a structurally growing market, with 1 leading positions in the fastest-growing OOH segment Well-invested, scalable and dense OOH user experience with an established presence 2 across multiple European markets Successful digital sol
Slide 13: Market leading e-commerce logistics enabler with proven market share increases
1. Market leading e-commerce logistics enabler with proven market share increases #1 APM network #1 APM network #1 APM network #2 APM network Strong customer InPost position #1 APM network France #3 agnostic player Iberia Italy perception1 in the UK Capitalising on the #1 OOH positioning by Grow APM
Slide 14: Multiple structural drivers underpin accelerated market growth
1. Multiple structural drivers underpin accelerated market growth Core markets Other European markets Netherlands Iberia E-commerce penetration % Rising e-commerce adoption with potential upside from AI shopping 4 ppts 3 ppts 2 ppts acceleration 36% 3 ppts 1 ppts 30% • Increasing internet adoption,
Slide 15: Well-invested, scalable and dense OOH network delivering best user experience
2. Well-invested, scalable and dense OOH network delivering best user experience with an established presence across multiple European markets Poland #1 29,912 2,750 APM PUDOs High density network with best location on APM and depot side UK & Ireland #1 90% Population within 7 15,628 4,145 minutes f
Slide 16: Successful digital solutions with a loyal user base and high NPS score
3. Successful digital solutions with a loyal user base and high NPS score … 76 #1 NPS index in Poland(1) #1 NPS & APM network awareness 17m 7m Iberia Italy 10m app users in app downloads launched launched app downloads Poland in the UK in Sep’25 in Jun’26 in France Our app users send & receive 40% -
Slide 17: Supported by proprietary technology, data-driven insights and AI
3. … supported by proprietary technology, data-driven insights and AI InPost Loyalty InPost InPost Von Mobile Apps programme Pay Halsky Streamlines customer Integrated loyalty Integrated checkout solution AI-powered shopping journey and delivers programme rewards consumers that combines shopping, ma
Slide 18: Preferred logistics partner for merchants, driving scale and diversification
4. Preferred logistics partner for merchants, driving scale and diversification in the merchant base NPS for Brands – Merchants’ Continued Co-operation with Key Merchants and Key Marketplaces Satisfaction Survey (Poland) Merchants Marketplaces 50 GLS ORLEN Reduced Customer Concentrations Typical Con
Slide 19: Demonstrated capability to scale internationally using organic cash flows
5. Demonstrated capability to scale internationally using organic cash flows, consistently delivering high growth … Very Strong Positioning for International Expansion Significant Growth in Parcel Volumes (mn) 1,509 1,365 Company Market 332 factors factors 262 1,092 2. 1. 93 First-mover 2. 892 384 H
Slide 20: Transformative and bolt-on acquisitions further enhancing international expansion
5. … with transformative and bolt-on acquisitions further enhancing the international expansion Management is c.30% through the integration workstream, expect to complete through 2027. UK parcel business aims to be earnings-accretive from 2027 onwards #1 OOH parcel shop delivery platform in UK time-
Slide 21: Long track record of strong growth, margins and conversion
6. Long track record of strong growth, margins and conversion with consistent utilisation rates supporting stable operating leverage Revenues Adj. EBITDA(1) Adj. EBITDA – Capex – Change in WC EUR million; percent growth EUR million EUR million YoY growth Margin Cash conversion(2) 68% 102% 76% 46% 29
Slide 22: Experienced management team with a proven track record of execution
7. Experienced management team with a proven track record of execution backed by strong consortium partners Rafał Brzoska Javier van Engelen Michael Rouse Chief Executive Officer Chief Financial Officer Chief Executive Officer International Founded InPost in 1999 Joined InPost in April 2024 Joined I
Slide 23: 3. Historical Financials
3. Historical Financials
Slide 24: Proven track record of operational expansion, driving topline growth and profitability
Group Poland Eurozone UK Proven track record of operational expansion, driving topline growth and profitability Continued operational momentum driven by network buildout and locker adoption… Parcel Volume (m Units) APMs (K Units) PUDOs (K Units) YoY 20% 22% 25% YoY 27% 32% 30% YoY 17% 12% (2%) growt
Slide 25: Strong topline growth underpinned by network expansion
Group Poland Eurozone UK Strong topline growth underpinned by network expansion… EURm YoY growth 27% 13% 178% 30% 13% 22% 212% 37% 571 168 190 172 91 322 3,472 2,732 2,900 2,370 2,543 2,543 2,279 1,957 1,957 FY23A Revenue Poland Eurozone UK FY24A Revenue Poland Eurozone UK FY25A Revenue Commentary •
Slide 26: Resilient EBITDA margins reflecting operational leverage and cost efficiencies
Group Poland Eurozone UK … with resilient EBITDA margins reflecting operational leverage and cost efficiencies EURm Margin 31% 47% 15% 17% 33% 49% 15% 3% 28% 31 (58) (11) 123 47 (9) 45 161 971 979 967 967 809 847 848 848 764 603 603 FY23A Adjusted Poland Eurozone UK Group Costs FY24A Adjusted Poland
Slide 27: Summary cash flow
Group Poland Eurozone UK Summary cash flow Cash Flows Commentary EURm FY23A FY24A FY25A Adjusted EBITDA 603 848 967 1• Maintenance Capex including operations-related maintenance for machinery and equipment remained at modest levels (<0.5% of revenues), reflecting the company’s well invested asset ba
Slide 28: Capex largely discretionary and APM-related with low maintenance capex
Group Poland Eurozone UK Capex largely discretionary and APM-related to support platform growth with low levels of maintenance capex Capex Commentary Group Capex (EURm) • Capex is primarily growth related (98% of total Capex), and despite its increase on an absolute basis to support network expansio
Slide 29: Poland deep dive: operational momentum driving strong growth and profitability
Group Poland Eurozone UK Poland deep dive: operational momentum driving strong growth and profitability Volume Metrics Commentary Parcel Volume (m Units) by Delivery Method Parcel Volume (m Units) by B2C / C2C • Volume growth of 14% CAGR over FY23-25A was organic, driven by: YoY 16% 20% 8% 16% 20% 8
Slide 30: Eurozone deep dive: rapid rollout of APM network and continued cost efficiencies
Group Poland Eurozone UK Eurozone deep dive: rapid rollout of APM network and continued cost efficiencies Volume Metrics Commentary Parcel Volume (m Units) by Delivery Method(1) Parcel Volume (m Units) by B2C / C2C • Volume growth of 15% CAGR over FY23-25A was primarily organic with a YoY rapid rise
Slide 31: Eurozone deep dive: EBITDA margin expansion driven by volume shift towards APMs
Group Poland Eurozone UK Eurozone deep dive: EBITDA margin expansion driven by volume shift towards APMs, with clear runway for continued improvement Eurozone APM Eurozone Mix vs. EBITDA Margin Poland APM Mix vs. EBITDA Margin EBITDA Margin (%) 10% 15% 15% Margins expected to continue expanding 49%
Slide 32: UK deep dive: integration of acquisitions creates runway for growth
Group Poland Eurozone UK UK deep dive: integration of acquisitions creates runway for growth and profitability Volume Metrics Commentary Parcel Volume (m Units) by Delivery Method Parcel Volume (m Units) by B2C / C2C • Rapid Volume growth of 137% CAGR over FY23-FY25A was driven by: YoY 127% 100% 181
Slide 33: UK deep dive: Yodel acquisition achieves a leading position in the UK
Group Poland Eurozone UK UK deep dive: Yodel acquisition achieves a leading position in the UK with clear path to higher profitability Achieved material profitability growth in organic Increased scale by +220% capturing segment share #1 APM network APM business with significant margin expansion in s
Slide 34: UK deep dive: temporary margin compression following Yodel acquisition
Group Poland Eurozone UK UK deep dive: temporary margin compression immediately following Yodel acquisition, with significant profitability improvements expected following integration d 17% 17% UK Adj. EBITDA improved from (€23m) in Q4'25 to 14% €7m in Q2'26, demonstrating tangible progress in the 1
Slide 35: H1-26 current trading shows strong momentum
Group Poland Eurozone UK H1-26 current trading shows strong momentum Growth Across Key Metrics Commentary Parcel Volume (m Units) Poland • Volume growth was strong with a +9% YoY increase, driven by expansion across key domestic merchants and 740 international marketplaces 601 159 • Revenue uptick o
Slide 36: Quality of Earnings
Group Poland Eurozone UK Quality of Earnings EURm 1 2 3 111 2 10 1,088 965 965 967 977 977 Q2-26 LTM Adjusted EBITDA Buyside Adjustments Growth Initiatives Q2-26 LTM PF Adjusted EBITDA Ramped-up Lockers Q2-26 LTM Structuring EBITDA Commentary 1• Includes reversal of non-operating items(1), and the c
Slide 37: 4. Appendix
4. Appendix
Slide 38: Recent update on our partnership with Allegro
Recent update on our partnership with Allegro The partnership / contract Poland APM / locker dynamics • InPost and Allegro have a long-standing, mutually beneficial • InPost has 42% locker market share in Poland1 and a uniquely dense partnership dating back to 2014, with InPost historically distribu
Slide 39: Consistent utilisation rates supporting stable operating leverage
Consistent utilisation rates supporting stable operating leverage Annual operational utilisation & monthly APMs – Jan 2023 – June 2026 Poland Eurozone1 UK & Ireland 2023 avg. 2024 avg. 2025 avg. payback period: payback period: payback period: 15.2 months 12.8 months 12.1 months 35,000 35,000 35,000