Inpost S.a. · EURONEXT:INPST
Inpost — Q3 2023 Earnings Presentation
36 slides from Inpost's earnings presentation, Nov 9, 2023
Slide 1: InPost Group Q3 2023
InPost Groug 1 Q3 2023 November 9, 2023 out of the box
Slide 2: Disclaimer
Disclaimer Disclaimer Financial results andoutlook Forward-looking statements, No representations, warranties or undertakings, Market and industry data No offer ‘Agreement with these terms ‘out of the box Please read the following before continuing. The following applies to this presentation, to any
Slide 3: Key highlights agenda
N Key highlights ® Business update Poland ™ Business update International markets ®) Financials = Outlook
Slide 4: Leading out-of-home e-commerce delivery company in Europe
We are the leading out-of-home e-commerce delivery company in Europe Q3 Network highlights grey 9 Markets 7 32,943 iS Isc Poland International Q? 22930 PE ‘ PUDOs Poland _ International cut ofthe box Source: Company data, as at the end of Q3 2023,
Slide 5: Another quarter of strong volume and profit growth
AS Another quarter of strong volume and profit growth aA InPost with Q3 EBITDA up 40% year on year and Q3 EBIT up 75% year on year © 210m +13% +28% Parcel volume (+18% YoY) Parcel volume increase YoY Parcel volume increase YoY "ain ra Kay Gora 2,067.2m +24% +20% Revenue? (+22% YoY) [PLN] Revenue gro
Slide 6: Outperforming the market in all key geographies
Outperforming the market in all key geographies InPost's volume growth vs e-commerce market \ ~( InPost Poland Mondial Relay United Kingdom 18% 18% 29% 128% 95% 92% 82% 17% 15% 10% Q4'22 Q1'23 Q2'23 Q3'23 Q4'22 Q1'23 Q2'23 Q3'23 -7% 6% -7% 5% Q4'22 Q1'23 Q2'23 Q3'23 WM Pi market! Ml InPost MM we mar
Slide 7: InPost Group Tour de France partnership
INPOST GROUP R » & am — f “a Ama TR fr 5 70% | 70% @ fran | franc® 4 InPost = J Hecge* INPOST GROUP TOUR DE FRANCE OFFICIAL & PARTENAIRE PARTNER if
Slide 8: Business update Poland
~Cinpost Sf ’ Business up sland
Slide 9: E-commerce delivery leader in Poland
E-commerce delivery leader in Poland Greater convenience Q1.2k APMs (+10% YoY) 3.2M_ lockers (+12% YoY) 61% of Polish population live within a ° 7-minute walk from an InPost APM #k APMs Gi0%) Q3 2022 Q3 2023 Source: Company data 13% volume growth YoY reflecting continued market share gains Parcel vo
Slide 10: Focus on user experience resulting in #1 customer brand in Poland
XN N Focus on user experience resulting in #1 customer brand in Poland > InPost Consistently increasing E-commerce in Poland 20232- Customers consistently favor delivery customer base to parcel lockers with a clear preference for InPost APM 17.6m (+8% YoY) APM users Percentage of respondents Preferr
Slide 11: Business update International
» Business update International ~Cinpost Sf a
Slide 12: International markets gaining traction
International! markets gaining traction International network 28% YoY organic volume comprises already 60% growth with international of total Group #OOH points now representing 33% of all Group volume PUDOs +20% YoY | APMs +60% YoY CD 28.1 TA 11.7 Q3 2022 Q3 2023 Q3 2022 Q3 2023 out of the box ll Pu
Slide 13: Mondial Relay gaining market share in B2C
Mondial Relay gaining market share in B2C +2.9k APMs added YoY +24% YoY growth in B2C Mondial Relay'#k OOH points Parcel volume by source [m] BD 532 48.2 202 Po New APMs maintain high adoption rate 17% of total Mondial Relay! volume © in Q3 2023 was delivered via APM (vs. 6% in Q3 2022) # of parcels
Slide 14: #1 APM network in the UK
#1 APM network in the UK of core cities! population live within a 7-minute walk from an InPost location #k APMs and PUDOs 1) Population over 175,000; Source: Company data XN ~ ~( InPost Increased volumes in the UK Higher adoption of new APMs following the logistics transition Volumes in the UK [m pa
Slide 15: Financials
~Cinpost Sf . Financials
Slide 16: Summary of 9M and Q3 2023 financial performance
Summary of 9M and Q3 2023 financial performance PLN million unless otherwise specified \ ~( InPost tat tneben Parcel volume (m) 623.7 522.9 19.3% 210.4 178.8 17.6% Segment Revenue’ 6,203.6 4,929.0 25.9% 2,067.2 1,690.4 22.3% Poland 3,731.7 2,932.8 27.2% 1,261.8 1,017.0 24.1% Mondial Relay 2,068.6 1,
Slide 17: Financial highlights: Poland
Financial highlights: Poland \ ~( InPost Continued margin expansion supported by pricing while inflationary pressures continue Parcel volume [m] MB APMvolume Ill To-door volume 124) B® 3590 B® = Q3 2022 Q3 2023 9M 2022 9M 2023 -*® Adjusted EBITDA margin Adjusted EBITDA & Margin [PLN m or %] BB Adjus
Slide 18: Financial highlights: Mondial Relay
Financial highlights: Mondial Relay Mondial Relay’s volume growth driven by B2C expansion Parcel volume [m] Gow) 482 $3.2 1485 169.3 Q3 2022 Q3 2023 9M 2022 9M 2023 Adjusted EBITDA & Margin [PLN m or %] ‘—® Adjusted EBITDA margin Adjusted EBITDA @» 60.0 608 2405 276 Q3 2022 Q3 2023 9M 2022 9M 2023 1
Slide 19: Financial highlights: UK & Italy
Financial highlights: UK & Italy First quarter of positive EBITDA in the UK market Parcel volume [m] Mux MM taly 16.7 403 65 15.4 Q3 2022 Q3 2023 9M 2022 9M 2023 Adjusted EBITDA [PLN} Mi uk WH italy International Overheads (14.2) (84.0) (73) (775) (45) (13.0) (511) (13.4) Q3 2022 Q3 2023 9M 2022 9M
Slide 20: Financial highlights: UK unit economics evolution
Financial highlights: UK unit economics evolution Parcel volume [m] Revenue’ per parcel [PLN] Adjusted EBITDA? per parcel [PLN] 3 2022 24 2022 12023 22023 Q3 2023 Q3 2023 highlights = 128% YoY volume growth in Q3 2023 mainly driven by C2C and returns = Revenue per parcel increased by 6% vs Q3 2022 r
Slide 21: Financial highlights: Adjusted EBITDA to Net Profit
Financial highlights: Adjusted EBITDA to Net Profit EBIT up by 50.3% YoY in 9 months of 2023 PLN m, unless otherwise stated Adjusted EBITDA 1,886.8 1,375.9 510.9 37.1% Margin % 30.4% 27.9% 250bps Share-based-compensation (MIP valuation) (3.3) (3.3) 0.0 0.0% LTIP valuation (20.2) (62) i 140) 225.8% M
Slide 22: Highly cash generative business model in Poland
Financial highlights: Highly cash generative business model in Poland Continued visible improvement in FCF generation 9M 2022 9M 2023 PLN million PLN million as ow 33.8 1,736.7 adjusted 1,375.9 a Adjusted cash cost 2g% EBITDA and 353 30% 563.0 conversion Fx Group PL . effects Adiusted Adjusted Adjus
Slide 23: Lower capex due to optimised APM production and phased deployment
XN Financial highlights: lower capex due to optimised APM production and a ~(inPost phased network deployment Group Capex split [PLN million] 526 100.2 Q3 2022 Q3 2023 9M 2022 @ Poland Ml International (UK+IT) Mondial Relay @QJ¥ capex as % of revenue IM Network development Il Operations out of the b
Slide 24: Financial highlights: Net Debt and Leverage
Financial highlights: Net Debt and Leverage Deleveraging expected to continue towards the end of the year PLN million, unless otherwise stated (+) Gross debt 6,957.3 6,699.5 257.8 3.8% Borrowing E financial instruments at 51412 50559 | 853 % Depots and APM locations IFRS16 lease 1,484.3 1,387.3 | 97
Slide 25: Outlook
» Outlook
Slide 26: FY 2023 Outlook (updated)
AS FY 2023 Outlook (updated) aA InPost Market E-commerce volume growth We expect (i) high single to low double-digit market volume growth in Poland, (ii) Mondial Relay market to stagnate (iii) mid-single digit market parcel volume decline in the UK. Group Volume and Revenue growth We expect to outpe
Slide 27: Thank you
Thank you out of the box Meet us at: Nov 28, 2023 BofA Last Mile & Delivery "Virtual" Fieldtrip Nov 30, 2023, Goldman Sachs CEEMEA Conference, London Dec 6, 2023 EMEA Conference, Wood, Prague Jan, 8-9 2024 Emerging Europe Conference, Citi, London For more info: Upcoming events Contact for Investors
Slide 28: Appendix
) Appendix
Slide 29: Financial highlights: Adjusted EBITDA to Net Profit (Q3)
Financial highlights: Adjusted EBITDA to Net Profit PLN m, unless otherwise stated \ ~( InPost a Adjusted EBITDA 639.4 455.8 183.6 40.3% Margin % 30.9% 27.0% 400bps Share-based-compensation (MIP valuation) (1a) (1) 0.0 0.0% LTIP valuation (9.8) (2.0) (78) 390.0% M&A costs (12.0) 0.0 (12.0) N/A Restr
Slide 30: Highly cash generative business model in Poland - Q3 2023
AS ~ + . . . —( InPost Highly cash generative business model in Poland — Q3 2023 Neer 3 2022 3 2023 2 2 58% PLN million PLN million PL 49% Adjusted G roup EBITDA . 585.9 oMv-203 adjusted 455.8 40% conversion adjusted @lustes PL cash cost conversion Adjusted 138.0 ands08 —————— EBITDA 99 438.0 EX eff
Slide 31: Definitions and numerical reconciliations of Alternative Performance Measures
Definitions and numerical reconciliations of Alternative Performance Measures Adjusted EBITDA Adjusted EBITDA Margin Capex Operating EBITDA Operating EBITDA Margin ‘out of the box facilitates the comparisons of the Group's operating results from period to period and between segments by removing the
Slide 32: Profit and Loss and Comprehensive Income Statement
PLN m unless otherwise specified 9M 2022 YOY change Profit a nd Loss Revenue 6,184.9 4,910.8 1,274.1 25.9% and Other Other operating income 18.7 18.2 05 2.7% h Depreciation and amortization 8448 6993 455 208% Comprehensive Raw materials and consumables 1681 1385 296 21.4% Income External services 33
Slide 33: Cash Flow Statement
Cash Flow Statement out of the box Source: Company data PLN m, unless otherwise stated Cash flow from operating activities Net profit Adjustments. Income tax expense (benefit) Finance cost/ (income) (Gain)/ loss on sale of property, plant and equipment Depreciation and amortization Impairment losses
Slide 34: Balance Sheet Statement
Balance Sheet Statement Sourc an} out ofthe box Source: Company data PLN m unless otherwise specified Non-current assets Goodwill Intangible assets Property, plant and equipment Investments in associates and joint ventures Other receivables Deferred tax assets Other assets Current assets Inventory T
Slide 35: InPost Group out-of-home points
InPost Group out-of-home points out of the box Out-of-home points of which APMs of which Poland of which France of which UK of which other markets of which PUDOs of which Poland of which France of which other markets Source: Company data \ ~( InPost 35
Slide 36: Glossary
Glossary out of the box Source: Company data APM B2c c2c ETR Heavy user KPI L2A L2L Net Leverage OOH PUDO Soft user Super heavy user To-door \ ~( InPost tat tneben Automated Parcel Machine Business-to-customer Customer-to-customer Effective tax rate APM user who received 13-39 APM parcels within las