51 slides from Prosus N.v. Class N's earnings presentation, June 2026
Slide 1: Prosus Ecosystem: Lifestyle Assistants for Delivery, Finance and Experiences
Prosus Ecosystem Lifestyle Assistants For Delivery, Finance and Experiences JUNE 2026
Slide 2: We understand what people want and we get it done, every day
PROSUS ECOSYSTEM: LIFESTYLE ASSISTANTS FOR DELIVERY, FINANCE & EXPERIENCES We understand what people want and we get it done, every day FOOD 1 Billion Customers Across Latin QUICK America, India and Europe. COMMERCE 5M Partners ~US$115B TRAVEL PAYMENTS EVENTS BANKING HOUSE/CAR CREDIT TPV ~US$65B GMV
Slide 3: Strong Growth in Revenue, aEBITDA & FCF
STRONG GROWTH IN REVENUE, aEBITDA & FCF ECOSYSTEM REVENUE1 ($’B) ECOSYSTEM aEBITDA1 ($’B) GROUP FCF2 ($’B) $9.7B $1.3B $1.5B 1.0 5.5 6.2 0.7 0.4 4.5 0.4 (0.1) (0.6) FY23 FY24 FY25 FY26 FY23 FY24 FY25 FY26 FY23 FY24 FY25 FY26 1 FY23 excludes Avito and is adjusted to align to iFood change in revenue r
Slide 4: Prosus is building ecosystems to unlock the next $100B of value
PROSUS IS BUILDING ECOSYSTEMS TO UNLOCK THE NEXT $100B OF VALUE ~$150B NAV1 VENTURES 1 NAV on 26 June 2026
Slide 5: Latin America Ecosystem
LATIN AMERICA ECOSYSTEM
Slide 6: It started with food delivery
IT STARTED WITH FOOD DELIVERY FOOD DELIVERY
Slide 7: iFood scaled consumers & orders rapidly
iFOOD SCALED CONSUMERS & ORDERS RAPIDLY 2026 AND WE'RE JUST GETTING STARTED! Reached Start of the Categories: 175 million Reached Shopping and Wholesale orders/month 1 million orders/month iFood is born First major Start of the Categories: 2025 iFood launches Pet and Pharma investment its logistics
Slide 8: iFood growth unlocked a large current TAM for food delivery
iFOOD GROWTH UNLOCKED A LARGE CURRENT TAM FOR FOOD DELIVERY FOOD DELIVERY Brazil Current Year TAM: $8B FOOD DELIVERY
Slide 9: Food delivery is the foundation of the ecosystem opportunity
THIS IS JUST THE START. FOOD DELIVERY IS THE FOUNDATION OF THE ECOSYSTEM OPPORTUNITY Current Year TAM Revenue Opportunity TRAVEL ONLINE CLASSIFIEDS PAYMENTS PHARMACY MEAL FOOD DELIVERY SMB FINTECH VOUCHER/ BENEFITS PETS BEVERAGE $8B LatAm GROCERIES FOOD DINE-IN & SaaS ADS EVENTS
Slide 10: Ecosystem opportunity is 10X bigger than food delivery only
ECOSYSTEM OPPORTUNITY IS 10X BIGGER THAN FOOD DELIVERY ONLY Current Year TAM Revenue Opportunity1 TRAVEL ONLINE CLASSIFIEDS PAYMENTS PHARMACY $22B $10B $10B $4B >10X MEAL FOOD DELIVERY SMB FINTECH VOUCHER/ BENEFITS PETS BEVERAGE $6B $3B $2B $2B $8B LatAm TAM: GROCERIES FOOD DINE-IN & SaaS ADS EVENTS
Slide 11: This is not just a plan. This is reality.
THIS IS NOT JUST A PLAN. THIS IS REALITY. PROSUS IS EXECUTING FAST & SUCCEEDING Current Year TAM Revenue Opportunity1 TRAVEL ONLINE CLASSIFIEDS PAYMENTS PHARMACY $22B $10B $10B $4B >10X MEAL FOOD DELIVERY SMB FINTECH VOUCHER/ BENEFITS PETS BEVERAGE $6B $3B $2B $2B $8B LatAm TAM: GROCERIES FOOD DINE-
Slide 12: Ecosystem opportunity is bigger and growing faster than food delivery
ECOSYSTEM OPPORTUNITY IS BIGGER AND GROWING FASTER THAN FOOD Current Year TAM Revenue Opportunity DELIVERY 1 TRAVEL ONLINE CLASSIFIEDS PAYMENTS PHARMACY $22B $10B $10B $4B >10X 40% GROWTH On $1.5B Base $6B SMB FINTECH MEAL VOUCHER/ BENEFITS $3B PETS $2B BEVERAGE $2B LatAm TAM: GROCERIES FOOD DINE-IN
Slide 13: New businesses now >50% of revenue & profitable
NEW BUSINESSES NOW >50% OF REVENUE & PROFITABLE % REVENUE PER CATEGORY ($’B) Revenue growth >40% outside of Food Delivery FY 24 FY 26 $1.2B $2.7B Revenue >50% contribution Core Food Delivery Ticketing IFood Pago Fintech Travel >$180M aEBITDA contribution in FY26 Marketplace Categories
Slide 14: Key categories under penetrated in Brazil
KEY CATEGORIES UNDER PENETRATED IN BRAZIL OPPORTUNITY COULD GROW 2-4X IN 5 YEARS Online Penetration by Category1 China Brazil Opportunity Online Grocery ~30% ~7% >4X Pharmacy ~35% ~15% >2X Restaurant SaaS ~70% ~30% >2X Merchant credit ~50% ~20% >2X Digital advertising ~90% ~60% 1.5X 1 Management est
Slide 15: Groceries, Pharmacy & Fintech growth now compounding at scale
GROCERIES, PHARMACY & FINTECH GROWTH NOW COMPOUNDING AT SCALE GROCERIES PHARMACY PAGO SMB FINTECH (BRL M) +2x #2 player UNDER BIG FUTURE PENETRATED bigger than VALUE UNLOCK +115% MARKET TAM OPPORTUNITY CAGR FY24-FY26 (GMV BRL BILLIONS) (GMV BRL BILLIONS) ZOOP 50% 71% (BRL M) CAGR CAGR +103% FY24-FY2
Slide 16: AI-fueled ads create breakthrough products driving ROI for partners
AI-FUELED ADS CREATE BREAKTHROUGH PRODUCTS DRIVING ROI FOR PARTNERS ADVERTISING UNDERPENETRATED & SCALING RAPIDLY (BRL in MMs) COLLECTION OF BRANDS 106% YoY Growth 1.7% of GMV 0.9% of GMV 0.2% of GMV
Slide 17: Despegar growing strongly and thriving as a member of the ecosystem
DESPEGAR GROWING STRONGLY AND THRIVING AS A MEMBER OF THE ECOSYSTEM GROSS BOOKINGS GROWING STRONGLY >20% CROSS SELL WITH iFOOD GROSS BOOKINGS $M 3.775 21% 3.112 2.918 Enrollments accumulated 2.665 +29% Brazil % of Decolars net revenue H2 FY26 YoY growth² 2% W3 W 37 W 38 W3 W 40 W4 W 42 W 43 W 44 W 4
Slide 18: Product & tech innovation builds the future
PRODUCT & TECH INNOVATION BUILDS THE FUTURE APPS Products that partners and users love Signals flow down Intelligence flows up PROSUS KNOWLEDGE INTELLIGENCE AI Native Company: LOOP Agents, apps, context, self- learning loops KNOWLEDGE Queryable knowledge trained from 1 B customers
Slide 19: LatAm ecosystem growth powered by the LCM and connected by life assistants
LATAM ECOSYSTEM GROWTH IS POWERED BY THE LCM AND CONNECTED BY LIFE ASSISTANTS 118 MILLION Users FOOD QUICK COMMERCE Powered by the LCM LARGE COMMERCE MODEL LIFE ASSISTANTS TRAVEL EVENTS PAYMENTS BANKING Connected by HOUSE/CAR CREDIT lifestyle Assistants
Slide 20: Beyond Food Delivery
BEYOND FOOD DELIVERY June 2026
Slide 21: Execution has unlocked a large and growing TAM in LatAm
EXECUTION HAS UNLOCKED A LARGE AND GROWING TAM IN LATAM Current Year TAM Revenue Opportunity TRAVEL ONLINE CLASSIFIEDS PAYMENTS PHARMACY $22B $10B $10B $4B >10X MEAL FOOD DELIVERY SMB FINTECH VOUCHER/ BENEFITS PETS BEVERAGE $6B $3B $2B $2B $8B LatAm TAM: GROCERIES FOOD DINE-IN & SaaS ADS EVENTS ~$10
Slide 22: iFood is the foundation of Prosus' LatAm ecosystem
iFOOD IS THE FOUNDATION OF PROSUS’ LATAM ECOSYSTEM FOOD DELIVERY
Slide 23: Growth is coming from iFood & increasingly diverse revenue streams
GROWTH IS COMING FROM iFOOD & INCREASINGLY DIVERSE REVENUE STREAMS! WE ARE BECOMING A MORE STRONG CORE + NEW CATEGORIES DIVERSIFIED COMPANY BOOSTED BY INNOVATION Only Food New Businesses (Pago, Only Food Multi Categories Delivery Groceries, Pharma, etc.) Delivery Users AS % NET REVENUE AS % YUB 57 1
Slide 24: iFood Clube: engine driving frequency, retention & future growth
iFOOD CLUBE: ENGINE DRIVING FREQUENCY, RETENTION & CLEAR ADDITIONAL FUTURE GROWTH OPPORTUNITIES DRIVING STRONG RETENTION & FREQUENCY CLUBE AS THE ECOSYSTEM ENGINE WHILE DELIVERING SIGNIFICANT VALUE TO MORE DATA = MORE INSIGHTS = POWERFUL USERS LCM RETENTION¹ (%) FREQUENCY¹ (x) NOT ONLY FOR iFOOD Foo
Slide 25: Groceries, Pharmacy & Fintech growth now compounding at scale
GROCERIES, PHARMACY & FINTECH GROWTH NOW COMPOUNDING AT SCALE GROCERIES PHARMACY AND OTHER OPTIONALITIES... +2x UNDER BIG FUTURE PENETRATED bigger than #2 player VALUE UNLOCK Beverages MARKET TAM OPPORTUNITY (GMV BRL BILLIONS) (GMV BRL BILLIONS) Pets 50% 71% Flowers CAGR CAGR FY24-FY26 FY24-FY26 Sma
Slide 26: Ads: powerful platform for merchants to reach high-intent customers
ADS: POWERFUL PLATFORM FOR MERCHANTS TO REACH HIGH-INTENT CUSTOMERS CONSOLIDATED Net Revenue (BRL M) +106% YoY 1.196 1.7% of GMV 580 0.9% of GMV
Slide 27: Pago: a new flywheel unlocking value through fintech
PAGO: A NEW FLYWHEEL UNLOCKING VALUE THROUGH FINTECH IS A B2B ECOSYSTEM.. UNIQUE THREE-PRONGED APPROACH SMB FINTECH FINANCIAL ENGINE … …WITH GREAT RESULTS (BRL M) 1,036 +115% Net Revenue (BRL Bn) CAGR SELLERS DATA 8.1 600 FY24-FY26 200 EBITDA Margin (%) FY24 FY25 FY26 +100% -0.4 FLYWHEEL YoY ZOOP (B
Slide 28: Investing in the future: Hits unlocks a differentiated affordable meal product
INVESTING IN THE FUTURE: HITS UNLOCKS A DIFFERENTIATED AFFORDABLE MEAL PRODUCT HITS UNLOCKS AN INCREDIBLE …AND IT'S GOING TOWARDS TAM OPPORTUNITY… BREAK-EVEN! AOV¹ MONTHLY ORDERS +12x (BRL UNIT) (BASIS 100 INDEX) YoY 60 ~34% 184 40 LOWER AOV 134 136 141 compared to 127 100 Food Delivery Orders iFOOD
Slide 29: In FY'26 we learned how to adapt despite competition
IN FY'26 WE LEARNED HOW TO ADAPT DESPITE COMPETITION WE RETAINED OUR ECONOMICS DECONSTRUCTION OF P&L MECHANICS FY26 DOESN’T CHANGE + Commission REVENUE OVER TIME! ECOSYSTEM ASSETS CONTRIBUTING - CPO¹ as a DEDUCTION REVENUE TO FUND INVESTMENTS iFOOD + Ads REVENUE % GMV FOOD DELIVERY FINANCIAL - Logis
Slide 30: A real ecosystem from cross-sell to agents
A REAL ECOSYSTEM FROM CROSS-SELL TO AGENTS Current Year TAM Revenue Opportunity TRAVEL ONLINE CLASSIFIEDS PAYMENTS PHARMACY $22B $10B $10B $4B >10X MEAL FOOD DELIVERY SMB FINTECH VOUCHER/ BENEFITS PETS BEVERAGE $6B $3B $2B $2B $8B LatAm TAM: GROCERIES FOOD DINE-IN & SaaS ADS EVENTS ~$100B $8B $7B $1
Slide 31: Obrigado
DrOSUS + ifeed II OBRIGADO
Slide 32: Returning to Growth & Investing to Scale
Returning to Growth & Investing to Scale JUNE 2026 Confidential
Slide 33: The trend is moving in the right direction, and we are accelerating
THE TREND IS MOVING IN THE RIGHT DIRECTION, AND WE ARE ACCELERATING TOTAL ORDER VOLUME YOY GROWTH RATE (%) Actual Budget 5% Grew 25% >0% 0% in selected test cities New -4% management -5% -6% -6% -7% -8% -9% -9% -10% Dec-24 Mar-25 Jun-25 Sep-25 Dec-25 Mar-26 Jun-26 WE EXPECT TO ACHIEVE POSITIVE YoY G
Slide 34: FY26 in numbers: strong foundations for growth
FY26 IN NUMBERS: STRONG FOUNDATIONS FOR GROWTH FY26 Orders FY26 Revenue 592m FY26 GTV $3.9bn FY26 aEBITDA $21.1bn $185m JET was consolidated from October 2025. The revenue and aEBITDA data are based on like-for-like pro-forma numbers based on Prosus’ reporting period and standards.
Slide 35: We are repositioning JET to become an AI-first company
WE ARE Growth Flywheel REPOSITIONING JET TO BECOME AN TRAFFIC AI-FIRST COMPANY + TRAFFIC CONVERSION + CONVERSION FREQUENCY AI FIRST | JET POWERED BY ORDERS AI RETENTION RETENTION XXXXX POST PURCHASE AI Decision Engine LCM Subsidy LCM Content • Smart subsidies • Personalized content • Customer journ
Slide 36: We focus our execution on
WE FOCUS OUR EXECUTION ON: CULTURE AND TECH MANAGEMENT OUR RIGHT LOGISTICS TO WIN CAPITAL SUPPLY ALLOCATION
Slide 37: We have reset the culture with a new management model
WE HAVE RESET THE CULTURE WITH A NEW MANAGEMENT MODEL REINFORCING BEHAVIORS OF RAISING THE BAR, MOVING FAST & OPERATING AS ONE JET Over Communicating Reinforced new behaviours Clear ownership Strategy & Progress Clearly Strategy Comms Own your results Keep it simple Single threaded leaders Move fast
Slide 38: Right to win in food delivery
RIGHT TO WIN: WE KNOW HOW TO WIN IN & DRIVE SUSTAINABLE GROWTH IN FOOD DELIVERY KEY FOCUS AREAS journey TO DRIVE SUCCESS Tech/Product Demand generation Offer quality Service level
Slide 39: Capital allocation: more discipline in how we deploy capital
CAPITAL ALLOCATION: MORE DISCIPLINE IN HOW WE DEPLOY CAPITAL CAPITAL PORTFOLIO COST FY27 REALLOCATION RATIONALISATION MANAGEMENT INVESTMENTS AU >$100m $50m We Invest for Maximum Return In Ceased trading in Nov 2025 Geos Where We Have Density & Scale FY27 savings identified Directed to Product DK fro
Slide 40: Tech: scalable path for growth
TECH: SCALABLE PATH FOR GROWTH 90% Co m in g s oon Cost reduction from LCM with same order uplift 70k+ AI-assisted upsells 5,000+ Internal agents built 2.5x Experimentation velocity 40% Partner revenue growth enabled by Toqan
Slide 41: Logistics: massive improvements in the economics of Scoober markets
LOGISTICS: WE HAVE ALREADY MADE MASSIVE IMPROVEMENTS IN THE ECONOMICS OF SCOOBER1 MARKETS Realised cost savings (monthly run rate) €5m run rate target €5M +$1.50 savings per month improvement per order 27/04 04/05 11/05 18/05 25/05 Turning Scoober into a sustainable logistics operation 1 Scoober is
Slide 42: Supply: build winning local supply positions with self-serve platform
SUPPLY: BUILD WINNING LOCAL SUPPLY POSITIONS WITH BEST IN CLASS SELF-SERVE PLATFORM BRINGING THE BEST CLOSING CRITICAL GAPS SCALING AGENTIC SUPPLY OPERATIONS Acquiring top tier partners, Using an iFood-developed Enable partners to sign up, exclusives and grocery to algorithm to identify and close on
Slide 43: We have just started our journey, now we scale!
WE HAVE JUST STARTED OUR JOURNEY NOW WE SCALE! WHAT WE’VE DONE IN 5 MONTHS WHAT WE WILL DO SET THE STRATEGY TR A FFIC C ONV ER S ION ACCELERATE GROWTH One plan, clear priorities, FR EQ U ENC Y POW ERED BY AI FLYWHEEL Positive order YoY growth by the OR D ER S performance-based incentives R ETENTION
Slide 44: Just Eat Takeaway.com
JUST EAT Takeaway.com
Slide 45: Replicating our LatAm success
REPLICATING OUR LATAM SUCCESS JUNE 2026
Slide 46: The Prosus flywheel: potential $300B opportunity & growing
THE PROSUS FLYWHEEL POTENTIAL $300B OPPORTUNITY & GROWING LATAM INDIA EUROPE
Slide 47: How India ecosystem is being built
HOW INDIA ECOSYSTEM IS BEING BUILT PAYMENTS & FOOD ECOMMERCE PHARMACY CREDIT DELIVERY TRAVEL HOME TAM: MOBILITY SERVICES ~100B India HOUSING FINANCE
Slide 48: How Europe's ecosystem is being built
HOW EUROPE’S ECOSYSTEM IS BEING BUILT ECOMMERCE/ FOOD FINTECH FUTURE ETAIL DELIVERY FUTURE FUTURE TAM: FUTURE ~$100B Europe FUTURE
Slide 49: Prosus
Drosus
Slide 50: Q&A
Q&A
Slide 51: Sources
SOURCES Category Base Market Primary Source Restaurants / Foodservice ~R$250–400B ABIA, ANR, Galunion foodservice reports (ABIA) Grocery ~R$1.07T ABRAS 2025 ranking (2024 sales) (UOL Economia) Pharmacy ~R$158B Abafarma / IQVIA data (Medicina S/A) Industry reports from Brazil e-commerce associations