Talabat Holding Plc · DFM:TALABAT
Talabat — Q2 2026 Earnings Presentation
25 slides from Talabat's earnings presentation, Aug 12, 2026
Slide 1: Q2 2026 Results
Q2 2026 Results 12 August 2026 THE LEADING ON-DEMAND DELIVERY PLATFORM IN MENA 1
Slide 2: Today’s presenters and agenda
Today’s presenters and agenda Agenda for today Key highlights & TOON GYSSELS 1. CEO business update 2. Investment update KHALED ALFAKESH CFO 3. Financial update 4. Outlook SHADI SALMAN IR 5. Q&A 6. Appendix 2
Slide 3: Key highlights & business update
Key highlights & business update 3
Slide 4: Q2 2026 key financial highlights
Q2 2026 key financial highlights GMV USD (cFX) 2.9bn Revenue USD (cFX) 1.1bn 12% y/y (1) (2) 17% y/y (1) Adj. EBITDA USD 147mn Net Income USD 100mn 5.0% of GMV 3.4% of GMV Dividends and share buybacks Free Cash Flow USD 162mn Shareholder-approved policy pays 90% of net income over two semi-annual di
Slide 5: Strong business performance across all pillars
Strong business performance across all pillars +14% Selection(1) | Active Partners y/y Multi-verticality(4) | GMV share +4pp y/y growth Active partners grew 14% y/y, Three in four dollars of GMV comes with grocery & retail shops now 97k from multi-vertical customers, 85k 71% 75% accounting for nearl
Slide 6: Investment update
Investment update 6
Slide 7: Darkstore density drives speed which accelerates growth…
Darkstore density drives speed which accelerates growth… Average delivery times (ADT) dropped >18% in H1 across markets ..with early insights indicating every 1 where we invested in speed.. min drop in ADT uplifts growth by 1-2pp Avg. Delivery Time | tMarts Investment focus markets (announced Q4 ‘25
Slide 8: …and reduces cost for delivery, offsetting the increased fixed costs
…and reduces cost for delivery, offsetting the increased fixed costs Darkstore model operates with low fixed costs, Shorter delivery distances, as we expand the network, contributing 5.7% to GMV (up 18% vs. Q4’25) allow us to significantly improve delivery cost per order Fixed Costs (as % of GMV) De
Slide 9: Financial update
Financial update 9
Slide 10: Continued top-line growth momentum
Continued top-line growth momentum talabat + instashop GMV (USD million) Revenue (USD million) +11% % of GMV 37.5% 39.1% y/y (1) +12% y/y +16% y/y +17% y/y (1) 2,916 2,617 981 1,141 Q2 ‘25 Q2 ‘26 Q2 ‘25 Q2 ‘26 Continued GMV growth momentum Revenue growth outpaced GMV Increasing GMV-to-revenue take r
Slide 11: Resilient profitability whilst driving strategic investments
Resilient profitability whilst driving strategic investments talabat + instashop Adj. EBITDA (USD million) Net Income (USD million) Free Cash Flow (USD million) % of GMV 6.4% 5.0% % of GMV 4.6% 3.4% % of GMV 10.5% 5.6% -41% y/y -13% y/y -18% y/y 168 275 147 121 100 162 Q2 ‘25 Q2 ‘26 Q2 ‘25 Q2 ‘26 Q2
Slide 12: Investments on track to strengthen leadership and build the “everyday app”
Investments on track to strengthen leadership and build the “everyday app” FY ’26 planned Key comments (0.2%) (0.5%) (0.7%) 4.6% margin investments (1) FY’26 total investments of USD 175mn(1) with -1.4pp Q2’26 actual margin investments Adj. EBITDA margin impact (on original GMV guide) 1. Strengtheni
Slide 13: Outlook
Outlook 13
Slide 14: Full year 2026 guidance
Full year 2026 guidance talabat + instashop Original Revised at Q1 Actual Revised at Q2 Performance measure (12 May’26) (13 Feb’26) H1’26 (12 Aug’26) GMV growth (1) 11-14% 11-14% 15% 13-15% (y/y at constant currency) USD 11.2-11.5bn (reaffirmed) USD 5.6bn USD 11.4-11.6bn Revenue growth (1) 14-17% 14
Slide 15: Q&A
Q&A 15
Slide 16: Revised guidance
Revised guidance Q3. Does the topline outperformance alter the 2026 strategic investments envelope? Q1. What are the reasons for revising guidance upwards (topline, Topline outperformance is not being reinvested and we remain committed to profitability, and free cash flow)? our disciplined investmen
Slide 17: Investment programme
Q4. Does revised guidance reflect recent regulatory changes? Investment programme Our guidance conservatively accounts for recent regulatory shifts. We assume business as usual for Qatar and the UAE, with no benefits factored in. For Kuwait, Q1. Can you remind us of the investment programme announce
Slide 18: Share buybacks; Uber acquisition offer for Delivery Hero
Share buybacks Uber acquisition offer for Delivery Hero Q1. What's the progress on the SBB to date, and does the stronger cash Q1. What does Uber’s proposed acquisition of Delivery Hero mean for position change pace or size? talabat? The programme, approved by shareholders on 13 April 2026, began 18
Slide 19: Appendix
Appendix 19
Slide 20: H1’26 vs Q4’25 base: Investments on track to strengthen leadership
H1’26 vs Q4’25 base: Investments on track to strengthen leadership and build the “everyday app” FY ’26 planned Key comments (0.2%) (0.5%) (0.7%) 4.6% margin investments (1) FY’26 budget of USD 175mn(1) or -1.4pp Adj. EBITDA H1’26 actual margin investments margin compression (on original GMV guidance
Slide 21: Consistent H1 growth of 15% y/y, despite an Eid-driven swing between quarters
Consistent H1 growth of 15% y/y, despite an Eid-driven swing between quarters GMV by quarter (USD bn) | Eid shifted growth from Q2 into Q1 Eid al-Fitr period +15% 15% y/y H1 2026 GMV growth, y/y at 5.6 constant currency 4.9 +12% +18% y/y y/y 2.3 2.7 2.6 2.9 15% Normalized Q2 2026 GMV Q1 ‘25 Q1 ‘26(1
Slide 22: H1’26 vs H1’25 view
H1’26 vs H1’25 view talabat + instashop GMV +15% Adj. EBITDA y/y % of GMV 6.4% 4.9% -11% y/y 4,874 5,601 311 277 H1 ‘25 H1 ‘26 H1 ‘25 H1 ‘26 Adj. Net Income FCF % of GMV 4.5% 3.2% % of GMV 7.6% 4.8% -18% -29% y/y y/y 219 373 266 179 H1 ‘25 H1 ‘26 H1 ‘25 H1 ‘26 22 Note: (1) Comparative financials inc
Slide 23: Alternative Performance Measures (“APMs”)
Alternative Performance Measures (“APMs”) talabat regularly uses alternative performance measures which are relevant to enhance the understanding of the financial performance and financial position of the Company. These measures may not be comparable to similar measures used by other companies; they
Slide 24: Disclaimer
Disclaimer The information contained in this presentation (the “Presentation”) represents a summary of the financial statements for the three-month period ended 30 June 2026 (the “Q2 2026 Financial Statements”) of Talabat Holding plc (“talabat” or the “Company”). This presentation does not purport t
Slide 25: Thank you!
Thank you! ir@talabat.com 25