Talabat Holding Plc · DFM:TALABAT
Talabat — Q3 2025 Earnings Presentation
20 slides from Talabat's earnings presentation, Nov 10, 2025
Slide 1: Q3 2025 Results
Q3 2025 Results 10 November 2025 THE LEADING ON-DEMAND DELIVERY PLATFORM IN MENA 1
Slide 2: Today's presenters and agenda
Today’s presenters and agenda Agenda for today 1. Business update TOMASO RODRIGUEZ CEO 2. Financials KHALED ALFAKESH CFO 3. CEO transition SHADI SALMAN 4. Q&A IR Toon Gyssels CEO (incoming) 2
Slide 3: Business update
Business update 3
Slide 4: Key financial highlights for Q3 2025
Key financial highlights for Q3 2025 USD (cFX) USD (cFX) USD USD 2.4bn 1bn 154mn 112mn +27% y/y (1) +32% y/y (1) 6.4% of GMV 4.6% of GMV (2) Management Adjusted Adjusted GMV Growth (1) Revenue EBITDA Net Income Dividends of USD 202mn(3) in respect of H1 2025 were approved by the Board in September a
Slide 5: Accelerating customer acquisition and deepening engagement over the last 12 months
Accelerating customer acquisition and deepening engagement over the last 12 months Customer base grew 23% y/y to reach 7.5 million Customer frequency has persistently increased, average Monthly Active Users in Q3‘25 up 4% y/y to reach 6.8x monthly orders Growing customer base Increasing engagement A
Slide 6: Doubling down on our core pillars; continuing to offer the best selection, experience and value
Doubling down on our core pillars; continuing to offer the best selection, experience and value Selection (1) Experience (2) Value (partner-funded savings) Active partners on the platform have grown >22% …while we have delivered best-in-class …partner-funded savings are scaling, driving over the las
Slide 7: Growth fueled by multi-vertical adoption, ecosystem integration and advertising revenue
Growth fueled by multi-vertical adoption, ecosystem integration and advertising revenue Multi-vertical adoption Ecosystem integration AdTech Margin Over the last 12M, multi-vertical adoption(1) has …our ecosystem products such as talabat pro(3) …while AdTech margin has expanded, reaching continued r
Slide 8: Significant headroom remains to be captured across our Food and Grocery & Retail verticals
Significant headroom remains to be captured across our Food and Grocery & Retail verticals Significant headroom remaining Huge upside potential for category penetration Total addressable population(1) c.$139Bn >74mn ~644mn 2024 TAC (4) Average monthly orders per capita(2) c.$125Bn 2023 TAC 90x ‘Eat-
Slide 9: Financials
Financials 9
Slide 10: Strong GMV growth, tMarts expansion driving revenues
Strong GMV growth, tMarts expansion driving revenues talabat-only GMV (USD million) Management Revenue (USD million) % of GMV 40% 42% +26% y/y +27% y/y (1) +31% y/y +32% y/y (1) 2,422 1,009 1,929 772 Q3 ‘24 Q3 ‘25 Q3 ‘24 Q3 ‘25 Continued GMV momentum across geographical segments and Similar to previ
Slide 11: Strong profitability and cash flow
Strong profitability and cash flow talabat-only Adj. EBITDA (USD million) Adj. Net Income (USD million) Adj. Free Cash Flow (USD million) % of GMV 6.6% 6.4% % of GMV 5.1% 4.6%(1) % of GMV 6.1% 4.1% +21% y/y -16% +15% y/y y/y 154 119 128 112 98 99 Q3 ‘24 Q3 ‘25 Q3 ‘24 Q3 ‘25 Q3 ‘24 Q3 ‘25 Adj. EBITDA
Slide 12: Reiterating full year 2025 guidance (talabat only excl. instashop)
Reiterating full year 2025 guidance (talabat only excl. instashop) Performance measure IPO guidance Revised 12 Aug ‘25 & 9M ’25 Q3 ’25 reiterated 13 Feb ’25 reiterated 10 Nov ’25 actuals actuals GMV growth 17-18% 27-29% 31% 27% (y/y at constant currency) USD 8.7-8.8bn USD 9.4-9.6bn USD 7bn USD 2.4bn
Slide 13: CEO transition
CEO transition 13
Slide 14: Introducing Toon Gyssels
Introducing Toon Gyssels Returning to talabat as CEO on 21 Nov 2025, bringing deep experience in scaling regional tech and delivery platforms Previously served as talabat COO and interim CEO, driving growth across MENA and launching new verticals Former COO at Kitopi and CEO of Kitopi’s On-Demand bu
Slide 15: Q&A
Q&A 15
Slide 16: Appendix
Appendix 16
Slide 17: instashop financial results with room for improvement…
instashop financial results with room for improvement… ly instashop-on GMV (USD million) Adj. EBITDA (USD million) Adj. Net Income (USD million) % margin % margin 1.6% 0.5% 1.4% 0.8% of GMV of GMV +8% y/y -38% +9% y/y (1) y/y -65% y/y 157 146 2.0 2.4 1.3 0.8 Q3 ‘24 Q3‘25 Q3‘24 Q3‘25 Q3 ‘24 Q3‘25 Adj
Slide 18: Alternative Performance Measures ("APMs")
Alternative Performance Measures (“APMs”) talabat regularly uses alternative performance measures which are relevant to enhance the understanding of the financial performance and financial position of the Company. These measures may not be comparable to similar measures used by other companies; they
Slide 19: Disclaimer
Disclaimer The information contained in this presentation (the “Presentation”) represents a summary of the pro forma financial statements for the three-month period ended 30 September 2025 (the “Q3 2025 Financial Statements”) of Talabat Holding plc (“talabat” or the “Company”). This presentation doe
Slide 20: Thank you!
Thank you! ir@talabat.com 20