Slide 1: Beyond Borders: InPost Accelerates Internationally, Fortifies Domestically
Q2 2025 Beyond Borders: InPost Accelerates Internationally, Fortifies Domestically 2 September, 2025
Slide 2: Disclaimer
Disclaimer Disclaimer Please read the following before continuing. The following applies to this presentation, any written, oral or video presentation of the information by InPost S.A. a public limited liability company (société anonyme), incorporated and existing under the laws of the Grand Duchy o
Slide 3: Agenda
Agenda Group Key Messages Business Update Poland Business Update International Financial Highlights Outlook 3
Slide 4: Group Key Messages
Group Key Messages Diversifying Beyond Poland as European Growth Accelerates Q2 2025 Group key numbers Group key messages Volume 52% of revenue outside Poland Adjusted EBITDA Diversification in Poland Revenue split driving profitability up +23% YoY 1.0 b B2C and APM volume growth 324m parcels 27% +1
Slide 5: Record-high APM Deployment
Group Key Messages Record-high APM Deployment APM network leader in respective markets UK Q2 2025 YoY Poland InPost OOH points 88,050 +14.4k APMs 53,287 +12.6k Poland 26,807 +3.3k Eurozone 15,392 +5.7k In line with Eurozone network UK 11,088 +3.6k optimization strategy PUDOs 34,763 +1.8k Poland 3,83
Slide 6: Consistently Outperforming the Market
Group Key Messages Consistently Outperforming the Market InPost and total e-commerce market volume growth YoY Poland Eurozone United Kingdom 19% +24% 21% YoY pro- 20% Maintaining stable forma growth 177% market share in a dynamic 13% environment 11% 10% 11% 10% 10% 88% 8% 6% 5% 5% 58% 5% 4% 3% 39% 1
Slide 7: Poland Update
Poland Update Volume Diversification and Margin Expansion 7
Slide 8: Unmatched Leader in APM Network and Capacity Utilisation
Poland Unmatched Leader in APM Network and Capacity Utilisation Continued APM expansion accompanied by healthy utilisation Leader in locker capacity Number of APMs Utilisation of the entire network [%] ~30% +14% others 26,807 +12% 23,470 ~70% Q2 2024 Q2 2025 2023 2024 2025 APM growth Lockers growth
Slide 9: Growing Non-Marketplace Volume – Diversification Boosts Profitability
Poland Growing Non-Marketplace Volume – Diversification Boosts Profitability Solid volume growth against Strongest growth in non- Higher profitability due to a high base and dynamic market marketplace channels diversification and cost management Parcel volume [m] Parcel volume [m] Revenue and Adjust
Slide 10: Non-Marketplace Channel Expansion Far Outpaces Market Growth
Poland Non-Marketplace Channel Expansion Far Outpaces Market Growth Growth in non-marketplace channels Large share of volume expansion driven outpacing the e-commerce market by new merchants Parcel volume growth [%] Parcel volume [m] Non-marketplace volume +17% growing significantly faster than 17%
Slide 11: Marketplaces – Limited Effect of Platform Delivery Preference Changes
Poland Marketplaces – Limited Effect of Platform Delivery Preference Changes Q2 2025 - a wave of attempted In the Allegro alliance, most parcels preference changes are directed to Allegro OneBox Preference changes as a % of <2% orders est. impact on InPost Q2’25 volume Loyal user base unaffected by
Slide 12: Loyal and Engaged Users Drive our Business
Poland Loyal and Engaged Users Drive our Business Stores diversification boosted by +6% APM volume YoY Top growth in most loyal users successful loyalty programme APM volume by user type [m] APM users [m] Loyal2 users [%] by number of stores they ordered from3 +6% +6% 90% 145.7 19.8 of Loyal2 users
Slide 13: InPost Brand Wins with Merchants and Users
Poland InPost Brand Wins with Merchants and Users Ranked #1 by merchants 19.8m APM users Trusted by a network of 50k+1 InPost comes out on top NPS for brands – merchants' satisfaction survey NPS for APMs – users’ satisfaction survey 77 iNPS2 at 96 vs Kantar NPS of 77 50 GLS 14.6m loyal app users - o
Slide 14: Driving Innovation to Capture Parcel Growth
Poland Driving Innovation to Capture Parcel Growth Unboxing loyalty: driving growth InPost Pay - turning browsers into buyers with incremental parcels Traditional mobile checkout 9m+ 12.4m Registered users Loyalty programme users 15%-25% >50% Conversion rate Conversion rate 2,400+ 14.5m InPost Pay i
Slide 15: International Update
International Update International flywheel further accelerated 15
Slide 16: Eurozone Update
Belgium and Netherlands Luxembourg #1 APM Network France Eurozone Italy Update Iberia #2 APM InPost Growing at Network 2x Market Rate with #2 APM Stable Margins Network Source: Company data. 16
Slide 17: Strategy in Action: Beyond Market Volume Growth, B2C and APM Acceleration
Eurozone Strategy in Action: Beyond Market Volume Growth, B2C and APM Acceleration #1 locker network across the Eurozone B2C growth driven by marketplaces Volume structure [m] by segment +10% Volume growth, well 40,459 +10% ahead of the market 77.7 67% 36,644 70.4 of B2C parcels +59% 15,392 delivere
Slide 18: Expanding Iberia Reach with Next-Day Delivery
Eurozone - Expanding Iberia Reach with Next-Day Delivery Geographical footprint TRANSPORT • 24h deliveries in Spain and Portugal 377 • Coverage in Andorra, Gibraltar, Routes Ceuta and Melilla, the Canary Islands, the Balearic Islands and Azores • Daily linehauls from the 16/133 Netherlands, Germany,
Slide 19: Unlocking Further Deployment – New Off-the-Grid Lockers
Eurozone Unlocking Further Deployment – New Off-the-Grid Lockers Bloq.it Deployment plans A strategic investment in a company shaping the ~20,000 new type APMs across InPost markets future of battery technology and accelerating InPost within 5 years network growth. ~2,000 new type APMs in 2025 Key s
Slide 20: UK Update
50% Population UK Coverage Update Building Blocks Complete: Ready to Accelerate Market Disruption 20
Slide 21: #1 APM Network in the UK – Way Ahead of the Competition
UK UK #1 APM Network in the UK – Way Ahead of the Competition Record-high YoY APM expansion: Building on the first-mover Turning high utilisation into +3.6k added in the last 12 months advantage capacity for growth Utilisation Number of APMs (#) of the entire network [%] +76% 16,954 11,088 +85 InPos
Slide 22: Yodel Transformation on Course – Key Pillars & Progress Update
UK Yodel Transformation on Course – Key Pillars & Progress Update One network & Last mile Standards/process Sites/Overheads Volume/Brand OOH Conversion transformation Integration of Yodel’s Operational Growth via Conversion of to- last mile with InPost’s discipline; milestone Depot consolidation; do
Slide 23: Strengthening OOH Leadership in the UK
UK Strengthening OOH Leadership in the UK Volume growth far outpacing e-commerce market Capturing to-door and B2C volume - opportunity for OOH conversion Volume [m] Volume by type of delivery [%] Volume by segment [%] B2C growth driven by international Significant portion marketplaces and to be redi
Slide 24: Expanding Our Reach in the B2C Market
UK Expanding Our Reach in the B2C Market Outbound Returns Cycling Revolution 24 Source: Company data. 24
Slide 25: Focus on UX Improvement Driving Customer Growth
UK Focus on UX Improvement Driving Customer Growth #1 NPS in the market InPost as the top choice Growing customers' base “How likely are you to consider choosing each of these brands the next time you choose a parcel 42% NPS index delivery company?” InPost Royal Mail Amazon InPost more InPost Royal
Slide 26: Financial Highlights
Financial Highlights Record Profits Margins on Base Business, Short Term Impact of Yodel Acquisition 26
Slide 27: Summary of Group Performance
Financial highlights PLN m, unless otherwise stated Q2 2025 Q2 2024 YoY H1 2025 H1 2024 YoY Summary Parcel volumes (million) 324.0 264.4 23% 595.7 507.1 17% Revenue reported 3,533.4 2,623.0 34.7% 6,485.3 5,048.7 28.5% of Group EBITDA 910.0 837.9 8.6% 1,817.4 1,577.8 15.2% Performance EBITDA margin A
Slide 28: Summary of Segments Results
Financial highlights Summary PLN m unless otherwise specified Q2 2025 Q2 2024 YoY H1 2025 H1 2024 YoY of Segments Parcel volume (m) 324.0 264.4 23% 595.7 507.1 17% Results Poland 180.9 170.4 6% 355.1 329.3 8% Eurozone 77.7 70.4 10% 151.2 136.9 10% UK + Ireland 65.4 23.6 177% 89.4 40.8 119% Segment R
Slide 29: Higher Profitability Driven by Tight Cost Management and Product Mix
Financial highlights Poland Higher Profitability Driven by Tight Cost Management and Product Mix APM volume To-door volume APM To-door Other Parcel volume [m] Revenue [PLN m] +7% +9% +6% +8% 1,694.0 3,346.1 1,578.9 3,062.0 170.4 +6% 180.9 329.3 +8% 355.1 +10% +11% +5% +6% +6% 1,275.5 +6% 2,533.8 1,1
Slide 30: Sustained Growth Fueled by B2C Expansion and Increased Adoption of APMs
Financial highlights Eurozone Sustained Growth Fueled by B2C Expansion and Increased Adoption of APMs Parcel volume [m] Revenue [PLN m] PLN EUR +10% +10% +10% +11% +12% +14% 77.7 151.2 885.2 1,755.9 70.4 136.9 807.4 1,574.7 Q2 2024 Q2 2025 H1 2024 H1 2025 Q2 2024 Q2 2025 H1 2024 H1 2025 Adjusted EBI
Slide 31: M&A Adds Scale While Core Profitability Trending Up
Financial highlights UK+Ireland M&A Adds Scale While Core Profitability Trending Up UK w/o Menzies Menzies Parcel volume [m] Revenue [PLN m] PLN GBP +177% +119% +303% +306% +236% +238% 65.4 89.4 954.2 1,383.3 743.6 965.2 40.8 23.6 412.0 236.7 210.6 418.1 Q2 2024 Q2 2025 H1 2024 H1 2025 Q2 2024 Q2 20
Slide 32: Adjusted EBITDA to Adjusted Net Profit
Financial highlights Adjusted EBITDA to Adjusted Net Profit H1 2025 H1 2024 Diff. Change Adjusted EBITDA 1,939.7 1,647.4 292.3 17.7% Incentive programmes set up by 1 Margin % 29.9% 32.6% (270bps) shareholders: MIP and Earn-Out Incentive programmes set up by shareholders (33.2) (2.2) 1 (31.0) 1409.1%
Slide 33: Strong FCF in Poland Reinvested to Accelerate International Expansion
Financial highlights Strong FCF in Poland Reinvested to Accelerate international Expansion H1 2024 H1 2025 PLN million PLN million POLAND INTERNATIONAL GROUP 1,647.4 1,625.5 45% 40% PL PL Adjusted Adjusted EBITDA 22% 800.7 EBITDA conversion Group conversion Adjusted EBITDA 824.8 257.3 conversion 372
Slide 34: Maintaining Financial Discipline: Net Leverage at 2.1 Following M&As
Financial highlights Maintaining Financial Discipline: Net Leverage at 2.1 Following M&As PLN million, unless otherwise stated H1 2025 12M 2024 Difference % change (+) Gross debt 9,277.5 7,756.2 1,521.3 19.6% Borrowings & financial instruments at 5,813.9 5,060.8 1 753.1 14.9% amortised cost 1 Debt i
Slide 35: Outlook
‘D INPostT GRouP Outlook
Slide 36: Outlook
Outlook This outlook has been revised on i) volume growth in Poland and Eurozone, ii) EBITDA margin in Poland and Eurozone, iii) higher network expansion and iv) slightly higher capex. Group volume We expect InPost to increase market share in all markets and we expect YoY Group volume in the high 20
Slide 37: Thank you!
Thank you! Contact for Investors Investor Relations ir@inpost.eu Meet us: Sept 3-4, 2025 Citi's 2025 Global Technology and GEMS Conference, New York Sept 4, 2025 UBS Business Services, Leisure and Transport Conference, London Sept 8, 2025 PEKAO Emerging Europe Investment Conference, Warsaw For more
Slide 38: Appendix
p INPOST GROUP Appendix 38
Slide 39: Definitions and Numerical Reconciliations of Alternative Performance Measures (1/2)
Appendix Definitions and Numerical Reconciliations of Alternative Performance Measures (1/2) PLN m, unless otherwise stated Net profit/(loss) from continuing H1 2025 317.0 H1 2024 592.7 Q2 2025 133.3 Q2 2024 336.4 operations Adjusted facilitates the comparison of the Group’s operating results from p
Slide 40: Definitions and Numerical Reconciliations of Alternative Performance Measures (2/2)
Appendix Definitions and Numerical Reconciliations of Alternative Performance Measures (2/2) Capex is defined as the total of Purchase of property, plant, and equipment and Purchase of PLN m, unless otherwise stated H1 2025 H1 2024 Q2 2025 Q2 2024 intangible assets, presented in the Statement of cas
Slide 41: Strong FCF in Poland Reinvested to Accelerate International Expansion
Financial highlights Strong FCF in Poland Reinvested to Accelerate International Expansion Q2 2024 Q2 2025 PLN million PLN million POLAND POLAND INTERNATIONAL GROUP 57% PL 887.3 Adjusted 834.4 EBITDA 24% 17% conversion PL Group Adjusted 335.2 Adjusted EBITDA 193.2 171.7 EBITDA 499.2 conversion 476.9
Slide 42: Adjusted EBITDA to Adjusted Net Profit
Appendix Adjusted Adjusted EBITDA Q2 2025 999.5 Q2 2024 887.3 Diff. 112.2 Change 12.6% EBITDA to Margin % Incentive programmes set up by shareholders 28.3% (16.6) 33.8% (1.1) (550bps) (15.5) 1409.1% Adjusted Net Incentive programmes set up by Group (24.2) (24.7) 0.5 (2.0%) Profit Restructuring costs
Slide 43: Profit and Loss and Other Comprehensive Income Statement
PLN m, unless otherwise specified H1 2025 H1 2024 Q2 2025 Q2 2024 Appendix Revenue 6,485.3 5,048.7 3,533.4 2,623.0 Cost of sales (4,652.1) (3,388.6) (2,674.8) (1,718.5) Profit and Loss Gross profit General & administrative expenses 1,833.2 (815.6) 1,660.1 (621.2) 858.6 (394.3) 904.5 (352.3) and Othe
Slide 44: Cash Flow Statement
H1 2025 H1 2024 Q2 2025 Q2 2024 Appendix PLN m, unless otherwise specified Cash flows from operating activities Cash Flow Net profit Adjustments: 317.0 1,595.9 181.0 591.2 1,037.4 184.1 133.3 829.2 120.6 336.4 540.3 74.3 Statement Income tax expense Financial cost/(income) 351.1 142.9 133.8 76.1 (Ga
Slide 45: Balance Sheet Statement
PLN m, unless otherwise specified 30.06.2025 31.12.2024 Non-current assets 12,020.9 9,978.0 Goodwill 1,974.4 1,519.7 Appendix Intangible assets 1,696.0 1,413.6 Property, plant and equipment 4,369.1 3,959.5 Balance Sheet Rights of use assets Other financial assets Long term investments in associates
Slide 46: InPost Group out-of-home points
Appendix InPost Group out-of-home points Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Out-of-home points 69,379 73,636 78,721 81,112 83,172 88,050 of which APMs 37,703 40,671 43,812 46,955 49,808 53,287 of which Poland 22,654 23,470 24,340 25,269 25,949 26,807 of which France 5,140 5,711 6,288 6,
Slide 47: Glossary
Appendix Glossary APM Automated Parcel Machine B2C Business-to-customer C2C Customer-to-customer ETR Effective tax rate Heavy user APM user who received 13–39 APM parcels within the last 12 months KPI Key Performance Indicator L2D Locker-to-door, delivery from an APM to the address Net Leverage Calc