Criteo SA · NASDAQ:CRTO
Criteo SA — Investor Presentation (August 2026)
37 slides from Criteo SA's investor presentation, August 2026
Slide 1: Investor Presentation August 2026
INVESTOR PRESENTATION AUGUST 2026 1
Slide 2: Safe Harbor Statement
SAFE HARBOR STATEMENT This presentation contains “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are based on our management’s beliefs and assumptions and on information
Slide 3: Why Invest in Criteo
WHY INVEST IN CRITEO KEY POINTS The leading independent commerce Strong cash generation, no long- 01 intelligence platform delivering cross-channel, 05 term debt, flexibility to invest for full-funnel, self-service advertising that drives growth measurable outcomes and addresses the largest secular
Slide 4: Executing Against Our Strategic Priorities
EXECUTING AGAINST COMMERCE INTELLIGENCE ACROSS CHANNELS OUR STRATEGIC PRIORITIES VIDEO & CTV RETAIL MEDIA • Lead in agentic AI and AI-assisted commerce, including our OpenAI AI PLATFORMS OPEN WEB partnership • Scale our AI-powered performance engine across channels, the full funnel, and self-service
Slide 5: Our Commerce Intelligence Platform Serves Media Buyers and Sellers
OUR COMMERCE INTELLIGENCE PLATFORM SERVES MEDIA BUYERS AND SELLERS DEMAND SIDE S U P P LY S I D E for Media Activation for Media Monetization Commerce Audiences at Scale ~740M DAUs in 100+ Markets 4,500+ Personalized Ad Engine 235+ 1,200 R&D and Product Employees Brands & Agencies 20+ Years of Comme
Slide 6: Who Are Our Clients
WHO ARE OUR CLIENTS DEMAND - MEDIA ACTIVATION SUPPLY - MEDIA MONETIZATION 4,500+ 3,500+ Brands 235+ (Direct & Agencies) Retailers ~12,000 Publishers Performance merchants ~75% of top 100 Marketers / ComScore Retailers publishers 6
Slide 7: Commerce Intelligence Is the Foundation of Our Strategy
COMMERCE INTELLIGENCE IS THE FOUNDATION OF OUR STRATEGY 5 Billion OUR FOCUS Product SKUs AI PLATFORM ADVERTISING 1 Trillion+ OpenAI’s first AdTech partner, Annual integrating our demand into Ecommerce ChatGPT’s advertising offering COMMERCE DATA AT SCALE Transactions Leverage granular, real-time, no
Slide 8: Our MCP Facilitates Seamless Interoperability
OUR MCP FACILITATES SEAMLESS INTEROPERABILITY User Prompt Agent & Chat Interfaces Criteo MCP Criteo Assets "Launch a full funnel Agents campaign with a $1M • Audience creation budget to increase sales • Insights of our new laptop, • Campaign creation premium inventory only" Agency custom agent Resou
Slide 9: AI Platforms Unlock a New Discovery Channel
AI PLATFORMS UNLOCK A NEW DISCOVERY CHANNEL FIRST ADVERTISING TECHNOLOGY PROMPT SMART ADS PARTNER Demand integration with OpenAI’s advertising offering in ChatGPT Free and Go versions • Over two thousand brands live, with incremental budgets from both existing and new clients • Expansion across seve
Slide 10: Scaling Our Performance Engine
SCALING OUR CROSS CHANNEL PERFORMANCE + AI-powered performance campaigns for acquisition ENGINE and retention goals across open web, social and AI platform inventories FULL FUNNEL + Augmented suite of commerce discovery capabilities, including upper funnel video & CTV capabilities to deliver superio
Slide 11: We Drive Performance Throughout the Entire Buyer Journey
WE DRIVE PERFORMANCE THROUGHOUT THE ENTIRE BUYER JOURNEY DEFINE YOUR GOAL AI-powered automated campaigns from product discovery to purchase SET YOUR BUDGET Discovery Full self-service launched at the end of Q1 2026 1 in 2 campaigns now going through GO for small clients globally ~80% of revenue from
Slide 12: We Benefit from a Unique Retail Media Flywheel
WE BENEFIT FROM A UNIQUE RETAIL MORE MEDIA FLYWHEEL RETAILERS Bringing Demand to Supply and MORE MORE BRANDS CONSUMERS Supply to Demand 12
Slide 13: Strengthening Our Retail Media Leadership
STRENGHTENING OUR RETAIL MEDIA LEADERSHIP LEADING FOOTPRINT TRACTION WITH NEW FORMATS 235+ 85+ Retailers adopting auction-based display in Q2’26 (vs. 60 in Q1’26) Retailers, including 75% of Top 30 U.S. & 40% of Top 50 EMEA retailers Sponsored Ads in retailer AI assistants: Launched with Albertsons’
Slide 14: We Bring More Intelligent Retail Experiences
WE BRING MORE INTELLIGENT RETAIL EXPERIENCES CRITEO PAGE INTELLIGENCE Higher Revenue Retailers balance monetization, experience, and merchandising in real-time. EXPERIENCE Greater Visibility Brands gain visibility to make smarter decisions MONETIZATION and drive better performance. PROMO MERCHANDISI
Slide 15: We Power Retailer AI Assistant Ads
WE POWER RETAILER AI ASSISTANT ADS Benefit from a seamless, relevant discovery For shoppers, discover relevant products naturally through conversation Reach Shoppers at high-intent moments For brands, engage shoppers as they explore, compare, and decide Monetize AI-driven discovery For retailers, un
Slide 16: Multiple Growth Drivers for the Retail Media Opportunity
WE HAVE MULTIPLE GROWTH DRIVERS TO CAPITALIZE ON THE RETAIL MEDIA OPPORTUNITY 1 2 3 4 Existing Supply Multiple Demand Demand Supply Partners Expansion Sources Unlocks Inventory Multi-retailer New retailers Commerce buying Page intelligence Max New geographies Measurement Formats & API Partners stand
Slide 17: We Have a Compelling Financial Profile
WE HAVE A COMPELLING FINANCIAL PROFILE Strong Financial • Contribution ex-TAC grew 3.5% in 2025 and is expected to be down -12% to -10% at constant currency in 20261, representing underlying mid-single-digit growth excl. $75M Retail Media headwind Foundation • Underlying Retail Media Contribution ex
Slide 18: We Delivered Solid Media Spend Growth in Q2
WE DELIVERED SOLID MEDIA SPEND GROWTH IN Q2 Client retention close A third of media spend Half of our Commerce KEY to 90% activated through Growth clients use more DRIVERS: agencies than one solution RETAIL MEDIA PERFORMANCE MEDIA $527M in media spend1, up +31%2 YoY $589M in media spend1, down -
Slide 19: Track Record of Profitable Growth and Free Cash Flow Generation
TRACK RECORD OF PROFITABLE GROWTH AND FREE CASH FLOW GENERATION $M (as reported) & YoY% (at cc) Underlying MSD decline % CexT excl. $75M Retail Media headwind1 Operating Cash Flow 1200 -12% to-10%1 40% conversion from 1000 adjusted EBITDA ~30%1 30% expected to improve to 800 ~85% in 2026 600 20% Fre
Slide 20: 2026 Outlook
2026 OUTLOOK BACKDROP: Extrapolation of current Performance Media spending trends and prudent macroeconomic assumptions; previously communicated scope reductions for two Retail Media clients; continued investment in agentic AI while maintaining financial discipline FY 2026 Q3 2026 Targeting -12% to
Slide 21: We Are Committed to Delivering Shareholder Value
WE ARE COMMITTED TO DELIVERING SHAREHOLDER VALUE Disciplined Capital Deployment 1 2 3 Organic growth M&A Share buyback investments Continued focus on share ~10% of Contribution Tuck-in or bolt-on buyback program with $152M of ex-TAC expected to be acquisitions to shares repurchased in 2025 and re-in
Slide 22: World-Class Team with Proven Track Record
WE HAVE A WORLD-CLASS TEAM WITH PROVEN TRACK RECORD TO EXECUTE OUR STRATEGY Our Senior Leadership Team Michael Komasinski Connor McGogney Ryan Damon Chief Executive Officer Chief Financial Officer Chief Legal and Transformation Officer Todd Parsons 1 Sherry Smith Ed Dinichert Chief Product Officer a
Slide 23: Appendix
APPENDIX 23
Slide 24: Criteo by the Numbers
CRITEO BY THE NUMBERS $4.5 billion ~17,000 ~75% ~75% annual media spend1 clients of top-30 U.S. & ~40% of top 100 ComScore of top-50 EMEA retailers2 publishers in largest markets ~$1+ trillion ~740 million ~2 trillion ~$39 billion ecommerce sales Daily Active Users (DAUs)3 ads served per year of com
Slide 25: We Have a Leading Commerce Intelligence Platform
WE HAVE A LEADING COMMERCE INTELLIGENCE PLATFORM RETAIL MEDIA RETAIL MEDIA Commerce Media Demand Solution for enterprise Commerce Media Monetization Platform brands, retailers and agencies for enterprise retailers and marketplaces PERFORMANCE MEDIA PERFORMANCE MEDIA Commerce Outcomes for performance
Slide 26: Segment Reporting - Definitions
SEGMENT REPORTING - DEFINITIONS PERFORMANCE MEDIA RETAIL MEDIA This segment encompasses our targeting capabilities This segment encompasses revenue generated from brands, and supply and AdTech services. agencies and retailers for the purchase and sale of retail media digital advertising inventory, a
Slide 27: Our Commerce Intelligence Platform Revenue Model
OUR COMMERCE INTELLIGENCE PLATFORM REVENUE MODEL Demand Side Supply Side • Paid by retailers when using ad serving • Paid by brands, agencies or retailers when capabilities % of running campaigns % of Demand • Ad serving, yield management, reporting Media • Campaign management, targeting, and Ad Ser
Slide 28: Our Commerce Intelligence Platform Revenue Model
OUR COMMERCE INTELLIGENCE PLATFORM REVENUE MODEL Demand Side Supply Side Managed & Self-Service • Paid by media owners when using SSP % of • Yield management, open exchange, reporting SSP Media • Outcome-driven pricing Cost-per-click (CPC) and Cost-per- Spend • Inventory and data assets management i
Slide 29: Commerce Growth Diversified Mix
COMMERCE GROWTH DIVERSIFIED MIX LTM GLOBAL MEDIA SPEND BY VERTICAL LTM GLOBAL SPEND BY CLIENT TYPE LTM GLOBAL MEDIA SPEND BY REGION Marketplaces Fashion Large Mid-sized Small Americas APAC EMEA Depart. stores Other retail Travel 29
Slide 30: Retail Media Footprint in the Americas
RETAIL MEDIA FOOTPRINT IN THE AMERICAS We are the retail media partner of choice ~75% 2 years Top 30 U.S. Retailers1 Average contract duration2 Note: We partner with many of our retailer clients in a white label capacity 1. Retailers in our largest markets that have a monetization program, excluding
Slide 31: Retail Media Footprint in EMEA
RETAIL MEDIA FOOTPRINT IN EMEA We are the retail media partner of choice ~40% 2 years Top 50 EMEA Retailers1 Average contract duration2 Note: We partner with many of our retailer clients in a white label capacity 1. Retailers in our largest markets that have a monetization program, excluding Amazon
Slide 32: Retail Media Footprint in APAC
RETAIL MEDIA FOOTPRINT IN APAC We continue to grow our footprint Note: We partner with many of our retailer clients in a white label capacity 32
Slide 33: Broad Channel Reach Strengthens Criteo's Market Position
BROAD CHANNEL REACH STRENGTHENS CRITEO’S MARKET POSITION Retail Media Social AI Platforms CTV & OLV Mobile Desktop Note: Q2 2026 media spend mix. This chart does not include AdTech services 33
Slide 34: Industry Recognitions
INDUSTRY RECOGNITIONS Criteo’s CEO, Michael Komasinski, was named in Criteo was featured in The Omnichannel ADWEEK’s AI Power 50 Advertising Platforms Landscape, Q4 '25. in 2026 Criteo was named one of the 9 Notable Large Criteo was named Leader in the SPARK Size Vendors in The Creative Advertising
Slide 35: Glossary of Industry Terms
GLOSSARY OF INDUSTRY TERMS COMMERCE MAX is our suite of retail media demand-side COMMERCE YIELD provides monetization solutions that help tools that allow brands, agencies and retailers to plan and buy retailers and marketplaces maximize the value of their digital media across retailer and open inte
Slide 36: Glossary of Industry Terms
GLOSSARY OF INDUSTRY TERMS Accuracy Accuracy is a measure of whether the response meets the user requirements Acquisition Acquisition advertising is a marketing goal designed to grow an organization’s customer base, including driving non-customers to the site, to purchase, or to sign up. Ad Tech Sho
Slide 37: Glossary of Industry Terms
GLOSSARY OF INDUSTRY TERMS First-party data (1P) Information that a company can collect from their own sources. Usually, information about customers from both online and offline sources, such as the company’s website, app, CRM, social media or surveys is first party data. Marketer Engages and grows