Slide 1: Q2 & H1 2021 results
WI inPost Q2 & H1 2021 results September 8, 2021
Slide 2: Disclaimer
X\ Mi Disclaimer ~(inPost sclaimer lease read the following before continuing, The follawing applies to this presentation, any oral or video presentation of the information in this presentation by InPost SA. a public limited liability company (société anonyme) incorporated and existing under the law
Slide 3: Agenda
\ Hi Agenda =CinPost Accelerating the flywheel in Poland to drive sustainable long-term growth Advancing our Pan-European growth strategy H1 and Q2 2021 Financial Review Outlook Q&A Pa Perzom key Wanton 2 3 4 5 6 7 Appendix out of the box
Slide 4: H1 2021 Key Highlights
X MHI 2021 Key Highlights ~(inPost Strong financial performance and accelerated execution of Pan-European growth strategy WA = Ongoing uncertainty related to govt = 54% revenue growth with 470 bps of = Extended unrivalled leadership position restrictions and potential for future adjusted EBITDA marg
Slide 5: Agenda
aN Hi Agenda =CinPost H1 2021 Key Highlights A Accelerating the flywheel in Poland to drive sustainable long-term growth 3. Advancing our Pan-European growth strategy 4 Hland Q2 2021 Financial Review 5 Outlook 6 Q&A 7 Appendix out of the box
Slide 6: Accelerating the flywheel effect in Poland in H1 2021
Accelerating the flywheel effect in Poland in H1 2021 Strengthening our competitive advantage to support long-term sustainable growth Growth > Network roll-out / tech investment Lower unit costs Consumer Data and Sustainability Technology ~ = CinPost “| out of the box
Slide 7: Accelerating the flywheel effect in Poland in H1 2021
XN Mi Accelerating the flywheel effect in Poland in H1 2021 ~(inPost Strengthening our competitive advantage to support long-term sustainable growth * Deployed >2.5K APMs and >400K lockers in H1 * Added more locker capacity in last 12 months than total network capacity at the end of 2019 = 15% YoY r
Slide 8: Acceleration in investments to enhance consumer convenience
\ NM Acceleration in investments to enhance consumer convenience ~(inPost Unrivalled network scale and coverage, adding >50* more capacity than all competitors combined #APMs 7.2K #Lockers 830K pee Abarat % of Population within 7 mins walk 43% of InPost APM out of the box 8
Slide 9: Extending our leadership position in Poland
™ Extending our leadership position in Poland Deployed >50x more capacity in first half of 2021 than all competitors combined ~\ = CinPost - 4 FY 2020 Net H1 2021 Net additions FY 2020 Net H1 2021 Net additions additions (FY 2020 vs H1 2021) additions (FY 2020 vs H1 2021) ME inPost [Competition out
Slide 10: Further enhancing our best in class user experience
\ Mi Further enhancing our best in class user experience ~(inPost Industry leading NPS driving brand recognition and consumer preference for APM deliveries " 7 million active users gC * Higher share of APMs for last mile deliveries (+ 1.3 million vs end of 2020) Se * New functionalities include: = 8
Slide 11: Broadening InPost's pan-European ecosystem
XN Broadening InPost’s pan-European ecosystem ~(inPost Increasing choice for consumers with significant cross-sell and cross-border opportunities N “Al New merchants New merchants Estimated merchant base +~7k +43 80k in France 1S =» ~7k new merchants including = 43 new merchants including = Strong C
Slide 12: Sustainability
"Sustainability Key ESG Initiatives \ . = CinPost “| Accelerated Green City Program in Poland, including the industry's first renewable energy solution for APMs ) First ESG ratings ISS Corporate Rating Rating Transparency Level Decile Rank & High 3 InPost scored significantly higher than peers in: C
Slide 13: Agenda
\ Hi Agenda =CinPost 1 H1 2021 Key Highlights 2. Accelerating the flywheel in Poland to drive sustainable long-term growth 2 H1 and Q2 2021 Financial Review 5 Outlook 6 Q&A 7 Appendix out of the box
Slide 14: Successfully closed acquisition of Mondial Relay on July 1st
MN Successfully closed acquisition of Mondial Relay on July Ist Fast-forwarding our mission to become Europe's leading out-of-home automated parcel solution for e-commerce Significantly accelerates InPost’s international expansion strategy and reinforces InPost as Europe's leading out-of-home (“OOH”
Slide 15: Mondial Relay update
™) Mondial Relay update >1 billion parcel market opportunity in France = Consistent findings with due diligence process - leading C2C position, with accelerating B2C momentum - under-penetration of D+1 services - strong brand awareness and recognition - adjacent market opportunities (Benelux and Ibe
Slide 16: Mondial Relay: Operational Priorities
™) Mondial Relay: Operational Priorities Investing in foundations for accelerated growth = Enhance existing PUDO service and maintain leadership = Increase network capacity and efficiency, readiness for peak season =" Accelerate APM deployments with differentiated consumer experience and quality of
Slide 17: Increasing signs of flywheel effect in the U.K.
NM Increasing signs of flywheel effect in the U.K. . = CinPost 4 Significant acceleration in network density, expanded C2C coverage, launch of “instant returns” ©) UK Quarterly APM Deployments ©) New brands added in H1 >6x new APMs in Q2 2021 vs Q2 2020 415 332 ebay Debenhams — schuh 190 . i EE ee Q
Slide 18: Agenda
\ Hi Agenda =CinPost 1 H1 2021 Key Highlights 2. Accelerating the flywheel to drive sustainable long-term growth 3. Advancing our Pan-European growth strategy H1 and Q2 2021 Financial Review 5 Outlook 6 Q&A 7 Appendix out of the box
Slide 19: Summary of H1 2021 financial performance
Summary of H1 2021 financial performance 54% YOY revenue growth with continued adjusted EBITDA margin expansion and increase in cash conversion in PLN m, unless otherwise stated 1,071.9 1,066.2 Revenue 1,650.7 of which Poland 1,628.4 of which International 22.3 Adjusted EBITDA” 694.6 Margin 42.1% of
Slide 20: Poland: H1 2021 and Q2 2021 financial highlights
® Poland: H1 2021 and Q2 2021 financial highlights Strong growth in HI, with continued YoY adjusted EBITDA margin expansion in Q2 \ . = CinPost “| Parcel volume [million] C53) 199.1 CE 130.2 102.5 . | i H1 2020 H1 2021 Q2 2020 Q2 2021 Adjusted EBITDA and Margin [PLN million or %] Adjusted EBITDA G77
Slide 21: Poland APM Segment: H1 2021 and Q2 2021 revenue drivers
NM) Poland APM Segment: H1 2021 and Q2 2021 revenue drivers ~Cinpost / 62% YoY revenue growth in H1, with strong growth in Q2 despite challenging YoY comparisions Parcel volume [million] <a 164.8 102.6 H1 2020 H1 2021 Q2 2020 Q2 2021 a a N Revenue per Parcel [PLN] H1 2020 H1 2021 Q2 2020 Q2 2021 out
Slide 22: Poland APM Segment: H1 2021 and Q2 2021 revenue drivers
NM) Poland APM Segment: H1 2021 and Q2 2021 revenue drivers 53% increase in APMs and 74% increase in locker capacity. Utilisation in-line with expectations following unprecedented demand in Q2 2020 APM network size 1 No. of APMs —® No. of Lockers (k) +53% Y 13,347 22020 Q3 2020 Q4 2020 Q12021 22021
Slide 23: Poland To-Door Segment: H1 2021 and Q2 2021 revenue drivers
§) Poland To-Door Segment: H1 2021 and Q2 2021 revenue drivers 23% YoY revenue growth in H1 2021, with continued mix shift towards APM deliveries Parcel volume [million] H1 2020 H1 2021 Q2 2020 Q2 2021 Revenue per Parcel [PLN] H1 2020 H1 2021 Q2 2020 Q2 2021 out of the box Note!) Revenue and Other O
Slide 24: Poland H1 2021 and Q2 2021 Gross Margin performance
Poland H1 2021 and Q2 2021 Gross Margin performance ~Cinpost / 670 basis points of YOY margin expansion in H1 2021, driven by ongoing productivity gains and scale benefits Direct cost per Parcel [PLN] H1 2020 H1 2021 Gross Profit per Parcel [PLN] 453 4.00 22020 H1 2020 H1 2021 out of the box 22020 2
Slide 25: Poland H1 2021 and Q2 2021 Adjusted EBITDA performance
Poland H1 2021 and Q2 2021 Adjusted EBITDA performance 630 basis points of YoY margin expansion in H] despite 57% YoY increase in G&A to support long term growth General cost [PLN million] Adjusted EBITDA and Margin [PLN million or %) ©) Adjusted EBITDA G57) G77) -® Adjusted EBITDA Margin 1955 CSD 7
Slide 26: International: H1 2021 and Q2 2021 operational highlights
as Tl M§ International: H1 2021 and Q2 2021 operational highlights Signficant acceleration in APM network deployment in UK, strong initial uptake of instant returns APM network size 1 No. of APMs, 0%) = No.of Lockers (ki) 2,225, 1,239 a H1 2020 H1 2021 Parcel volume UK [million] H1 2020 H1 2021 Q2 2
Slide 27: International: H1 2021 and Q2 2021 financial highlights
as Tl M International: H1 2021 and Q2 2021 financial highlights Significant acceleration of investments to support long-term growth, early signs of flywheel effect Revenue™ [PLN million] C2 23 = 203%) iH (85) (17.4) n2 “ ! (29.6) 3.7 |__| (475) Q22020 Q22021 ©) General cost per Parcel 13.8 39.5 68 2
Slide 28: Capital Expenditure: investing to support long-term growth
Capital Expenditure: investing to support long-term growth \ . = CinPost “| with improving APM capex economics Group Capex Split (incl. International) [PLN million] 53%) Poland 1) International 329.0 215.3 <p> 282.0 1703 120.8 206.1 ht @ — H1 2020 H1 2021 Q2 2020 Q2 2021 out of the box Unit APM Prod
Slide 29: 90% increase in Free Cash Flow, with conversion improving to 58%
X\ 90% increase in Free Cash Flow, with conversion improving to 58% ~(inPost Higher conversion driven by strong Adjusted EBITDA performance and inflows from net working capital. FCF of PLN 400mn in H1 2021 exceeded FCF generated in FY2020 PLN million 694.6 34] 25) 2725 401.4 47.0 399.7 210.4 11 2020
Slide 30: Bridge from Operating EBITDA to net leverage
\ ll) Bridge from Operating EBITDA to net leverage = (inPost Strengthened balance sheet since the end of FY 2020. Pro-forma net leverage ~3.0x post Mondial Relay acquisition, ahead of prior outlook PLN million, unless otherwise stated Operating EBITDA 573.3 399.7 994.3 Share-based compensation 58.1
Slide 31: Agenda
\ Hi Agenda =CinPost 1 H1 2021 Key Highlights Accelerating the flywheel to drive sustainable long-term growth Advancing our Pan-European growth strategy H1 and Q2 2021 Financial Review Q8&A 2 3 4 5 6 7 Appendix out of the box
Slide 32: Targets — InPost
Targets — InPost Unchanged from prior FY 2021 outlook out of the box FY 2020A Number of APMs 12,254 Parcel Volumes (millions) 310 Revenue (millions) PLN 2,532 Adjusted EBITDA margin 39.7% Total Capex (millions) PLN 537 Cash Flow Conversion (%) 38% FY 2021E 18,250-19,000 455-485 PLN 3,700-3,850 41-43
Slide 33: Agenda
\ Hi Agenda =CinPost 1 H1 2021 Key Highlights Accelerating the flywheel to drive sustainable long-term growth Advancing our Pan-European growth strategy H1 and Q2 2021 Financial Review Outlook 2 3 4 5 a 7 Appendix out of the box
Slide 34: Q&A
InPost 34
Slide 35: Agenda
\ Hi Agenda =CinPost H1 2021 Key Highlights Accelerating the flywheel to drive sustainable long-term growth Advancing our Pan-European growth strategy H1 and Q2 2021 Financial Review Outlook Q8&A |= Appendix out of the box
Slide 36: Poland APM Segment quarterly revenue drivers
X\ . : ~(InPost lM) Poland APM Segment quarterly revenue drivers ae APM parcel volume [million] APM revenue® [PLN million] 750% +33% v v 86.0 79.9 849 632.1 588.4 627.7 i : 7 i 7 a a Q2 2020 Q3 2020 Q4 2020 Q12021 Q2 2021 Q2 2020 Q3 2020 Q4 2020 Q12021 Q2 2021 Revenue per Parcel [PLN] +2% | y 7.22 7
Slide 37: Poland To-Door Segment quarterly revenue drivers
X\ . : ~(InPost §) Poland To-Door Segment quarterly revenue drivers ae To-door parcel volume [million] To-Door revenue" [PLN million] 410% 1 210% 160 185 167 76 168.4 ese 189.0 19744 Ra 6 Q2 2020 Q3 2020 Q4 2020 Q12021 Q2 2021 Q2 2020 Q3 2020 Q4 2020 Q12021 Q2 2021 Revenue per Parcel [PLN] © 7 10: Z
Slide 38: Poland: Quarterly Gross Margin progression
™ Poland: Quarterly Gross Margin progression Direct cost” per Parcel [PLN million] ~Cinpost / © Gross Profit =® Gross Profit margin Gross Profit and Gross Profit Margin [PLN] 14% 3. & t 45% 3.62 3.46 331 v i l a 2 22020 Q32020 Q4 2020 Q12021 Q22021 Gross Profit” per Parcel [PLN] 14% + 444 4.62 4.04
Slide 39: International Segment quarterly revenue drivers
as Tl X\ ~ H H —( InPost MN International Segment quarterly revenue drivers ae APM network size @ uk MM ttaly Parcel volume [million] $80% 200% v v 2,225 A 15 1,810 139 1288 1,478 10 05 os 344 344 344 Hi | | 22020 Q3 2020 42020 12021 22021 22020 Q3 2020 42020 12021 22021 Revenue [PLN million] Revenu
Slide 40: Group income statement
Group income statement PLN million, unless otherwise indicated Parcel volumes (m) Revenue per parcel (PLN) Revenue” % YoY growth Direct Cost % revenue Gross Profit % margin General Cost % revenue Adjusted EBITDA % margin D&A % revenue Net Profit (Loss) % revenue EoP APMs EoP Lockers (k) out of the b
Slide 41: Income statement by segments — Poland
MN Income statement by segments — Poland PLN million, unless otherwise stated Parcel volumes (m) 199.1 130.2 Revenue per parcel (PLN) 8.2 8.2 Revenue” 1,628.4 1,066.2 % YoY growth 53% Direct Cost (690.8) (523.0) % revenue (42%) (49%) Gross Profit 937.6 543.2 % margin 58% 51% General Cost (277.3) (12
Slide 42: Income statement by segments - International
MN Income statement by segments - International PLN million, unless otherwise stated Parcel volumes (m) Revenue per parcel (PLN) Revenue % YoY growth Direct Cost % revenue Gross Profit General Cost % revenue Adjusted EBITDA D&A. % revenue EoP APMs EoP Lockers (k) Lockers per APM Note: (1} Revenue an
Slide 43: Group Balance Sheet
X\ Mi Group Balance Sheet ~(inPost PLN million, unless otherwise indicated | rnz01 | tz020 | Total Assets 5,620.7 1,896.5 Non-current assets 2,158.5 1,402.6 o/w Property, plant and equipment 1,870.1 1,176.7 Current Assets 3,462.2 493.9 o/w Trade Receivables and Other Receivables 374.4 253.7 oMw Cash
Slide 44: Group Cash Flow Statement
1) Group Cash Flow Statement PLN million, unless otherwise indicated Adjusted EBITDA Change in NWC CF from Operations Maintenance Capex Poland FCF before Expansion Capex Expansion Capex oN International Capex Free Cash Flow Before Taxes Cash conversion out of the box 694.6 34] 728.7 (9.5) 719.2 (319
Slide 45: EBITDA reconciliation
MN EBITDA reconciliation PLN million, unless otherwise indicated Net profit (loss) from continuing operations Income tax expense Profit (loss) before tax from continuing operations Adjustments for: - net finance costs - depreciation and amortization Operating EBITDA Share-based compensation IPO cost
Slide 46: Targets — Poland Segment
Targets — Poland Segment Unchanged from prior FY 2021 outlook out of the box FY 2020A FY2021E" Number of APMs 10,776 15,500-16,000 APM parcel volumes 9 (millions) and growth ae SOSH To-Door parcel volumes 5 (millions) and growth Os BESO MON APM revenue 9 (millions)/growth PLN 1,815.3 50-55% YoY To-D
Slide 47: Targets — International Segment
\ Nl Targets — International Segment ~(inPost Unchanged from prior FY 2021 outlook Pro-forma( Pro-forma (23) FY 2020A FY 2021E FY 2020A FY 2021E Number of APMs 1,478 2,750-3,000 Parcel volume (millions) 22 10-15 Total revenue (millions) PLN 17.7 PLN 70-90 G a Break-even 9 Adjusted EBITDA margin (249
Slide 48: Contact details
Contact details out of the box Sherief Bakr Head of Investor Relations sbakr@inpost.co.uk Visit InPost’s websites: www.inpost.pl/en www.inpost.eu InPost Headquarters 70, route d'Esch, L-1470 Luxembourg, Grand Duchy of Luxembourg LU 32751180 ~\ = (CinPost i”
Slide 49: ~CinPost
out of the box ~CinPost /