Prosus N.v. Class N · EURONEXT:PRX
Prosus N.v. Class N — Investor Day (February 2026)
49 slides from Prosus N.v. Class N's investor day presentation, Feb 24, 2026
Slide 1: Scaling Vertical Leadership through Agentic Innovation
Scaling Vertical Leadership through Agentic Innovation Investor Afternoon with OLX Leadership 24.02.2026
Slide 2: Today's Agenda
Today's Agenda Leading through Agentic Christian Gisy Innovation Scaling AI-powered Tim Davis customer experiences From ML to agentic Andreas Merentitis transformation at OLX OLX: Positioned for growth Suresh Krishnan Q&A OLX 2
Slide 3: Welcome to Lisbon!
Welcome to Lisbon! Why are we here? OLX 3
Slide 4: Leading Through Agentic Innovation
01 Leading Through Agentic Innovation Christian Gisy OLX 4
Slide 5: OLX, a leading business, consistently overperforming with a clear Strategy and Ambition Level
OLX, a leading business, consistently overperforming with a clear Strategy and Ambition Level OLX Revenue ($M) and aEBIT ($M) LEADING ASSETS 657 777 43% BUILDING 7 10 FINANCIAL 519 20% 35% 473 markets¹ brands¹ 273 MOMENTUM 11% 133 205 Revenue aEBIT 56 70M 29M app monthly % aEBIT margin FY23 FY24 FY2
Slide 6: OLX is constantly Innovating and Evolving
The Market View OLX reality: The Proactive Future OLX is Classifieds are resilient Vertical Leaders are the data foundation for Agents constantly Innovating AI as a feature Agentic AI (# of use cases) as the Product and Evolving Discovery Channel Partner for any Transaction (SEO/Google reliance) (Di
Slide 7: OLX's Decade of AI Dominance
OLX’s Decade of AI Dominance Leveraging over $200M in strategic investment since 2018 to transition from ML foundations to a fully Agentic-led ecosystem. 2018 2021 November 2024 September 2025 January 2026 February 2026 April 2026 Scaling ML Personalised Magic AutoIQ Matchmaking CompassGPT MotorsGPT
Slide 8: Scaling AI-powered Customer Experiences
02 Scaling AI-powered Customer Experiences Tim Davis OLX 8
Slide 9: Customer Journey: From eyeballs to agentic services
Sales2Text Ad-2-Video Customer Financing Voice Agent Demand: Compass. RE ChatGPT Journey: Agentic Workforce Automated Forecasts 3rd Parties Ecosystem AI Price/Liquidity Agents From eyeballs to Matchmaking Transaction Orchestration agentic services. Personalisation Data Augmentation Ad Syndication Me
Slide 10: Winning today with both traditional UX and Agentic AI
Winning today with both traditional UX and Agentic AI Proprietary data Trusted Marketplace for Person both UX and AI looking Trust Agentics for a car Algorithmic AI Seller AI Platforms Scale and depth Marketplace value evolves from exposure and “boosting visibility” to co-winning with the customer:
Slide 11: We are building tomorrow's AI agentic marketplaces
We are building tomorrow’s AI agentic marketplaces… OLX: Agentic Consumer Transaction Seller AI Agent Environment AI Agent Powers Winners Proprietary data Personal Data Data Custom Smart Authenticated Data sharing Ecosystem Property Realtor Price Incentives Authentic visits annotations sensitivity a
Slide 12: …with measurable impact across our verticals today
…with measurable impact across our verticals today Motors Real Estate Jobs 50% Reduction in 70% Ad2Video pro 63% Of employers posting time sellers willingness engage with to pay candidate within 5 minutes AI features drive 8-10% increase in leads for premium packages OLX 12
Slide 13: AI at Scale: Mass Deployment @Speed
AI at Scale: Mass Deployment 2x 1,200+ @Speed Faster Pace of Products improvements Innovation per week Weekly Delivery velocity → Doubled in last year 2,600 AI Agents Deployed 1. Growth weekly software deployments in the past 12 months OLX 13
Slide 14: Why we will keep winning
Why we will keep winning AI-First leader Best Domain Supply Focus Agentic AI is the Product Easiest place to sell Specialization has Proprietary data your products: proven more valuable liquidity, tools, and than generic Investments in AI+Tech flexibility Why OLX Stays ahead We are not just respondi
Slide 15: From ML to Agentic Transformation
03 From ML to Agentic Transformation Andreas Merentitis OLX 15
Slide 16: OLX AI Landscape today
OLX AI Landscape today ~ 150 OLXers working in AI 75+ AI use cases live 10 Agentic AI solutions launched in H1 FY26 8 years investing in AI US$ 30M Invested in AI in FY26 2,600+ internal AI agents deployed OLX 16
Slide 17: GenAI performance is improving quickly, fueled by science
GenAI performance is improving quickly, fueled by science Rate of improvement on benchmarks AI agents market size has increased significantly AI Agents Market Size 2024 to 2034 (USD Billion) State-of-the-art AI performance on benchmarks, relative to human performance Handwriting recognition Speech r
Slide 18: Marketplaces' Evolutionary Leap
Marketplaces' Evolutionary Leap The next 1-5 years will transform search, ranking, and online marketplaces more than perhaps the last 15 years combined. The companies that move now to integrate AI thoughtfully will define the rules of this new game. Traditional Ecommerce Agentic Commerce Users manua
Slide 19: OLX's Innovative Approach
OLX’s Optimize Scale Find product market fit Disrupt Innovative Improve user experience Invent the Increase profits future Approach Three streams working together OLX 19
Slide 20: In a world where speed defines the winner our execution is going from good to great
In a world where speed defines the winner our execution is going from good to great Highlights EXPERIMENTS almost quadrupled in 4 years 600 A/B tests per year 10 Agentic AI solutions in H1FY26 75 ML use cases 25 GenAI use cases live Live already 1,200 Product improvements deployed per week 1. Based
Slide 21: OLX is a Clear Leader in Europe
OLX is a Cloud scaled AI platform AI enabled tech teams Clear Leader in Europe OLX Fully on cloud, unified tech stack, GenAI platform 80 AI enabled teams, 900+ total engineers Fully on cloud, unified tech Scout24 ¹ 300 engineers stack, GenAI platform Fully on cloud, unified Autotrader¹ 400 engineers
Slide 22: OLX has Agentic AI across the entire funnel
OLX has Agentic AI across the entire funnel Multiple customer Top funnel: channels REGPT Compass GEO Agentic posting inspiration, Seller value & exploration, intent MotorsGPT Schema markup Video2Ad convenience Middle funnel Personalised Agent Gateway Content agentic search moderation Choice & Trust
Slide 23: Seller Convenience: AI Powered Ad Posting
Current product Built using live photo just Seller snapped. Using LLMs to identify attributes and fill in Convenience: 50% reduction in time to post AI Powered Future Concept for OLX Ad Posting Posting form entry point differs by users needs Progressive disclosure simplifies users flow Video2ad comi
Slide 24: OLX is everywhere our customers could be: Experimental ChatGPT Partnership
Describe your ideal place to live OLX is everywhere our customers could be: I’m looking to rent. Experimental ChatGPT Partnership Consumer value: Conversational tool lets users discover properties intuitively at the top of the funnel and convert to buyers. AI Differentiation: Family-friendly area, A
Slide 25: The Pepsi Challenge
OpenAI OLX GPT The Pepsi Challenge Generic GPT vs OLX GPT The core experience is under our control Takeaway: Proprietary data (pricing history + local liquidity) creates a "Vertical AI" experience that generic models cannot match OLX 25
Slide 26: Choice and Trust: Jobs Matchmaking
Find me qualified candidates to hire Choice and Trust: Jobs Matchmaking Consumer value: Reduces time-to-hire and recruitment costs by autonomously identifying high-intent candidates AI Differentiation: Agentic AI deep mines candidate profiles with complex job descriptions beyond keyword matching. Me
Slide 27: Seller Value with AutoIQ: Using AI to automate selling a car
Autonomous AI Dealer Agent Seller Value with AutoIQ: Using AI to automate selling a car Consumer value: Automating dealership management and portfolio Ad Posting Agent optimization Lead Intelligence Agent AI Differentiation: Take care of my inventory. Push the cars Agentic AI using proprietary data
Slide 28: Maximising impact: Ad2Video - from pictures to engaging ad formats
Making inspiring ad content Maximising impact: Ad2Video - from pictures to engaging ad formats Consumer value: Making new engaging information-rich formats easily accessible. AI Differentiation: Agentic AI using many different LLMs to generate at scale video and descriptions in many languages for te
Slide 29: The best way to predict the future is to create it
The best way to predict the future is to create it Peter Drucker / Alan Kay OLX 29
Slide 30: OLX: Positioned for growth
04 OLX: Positioned for growth Suresh Krishnan OLX 30
Slide 31: OLX: The "Hidden" Giant
OLX: The “Hidden” Giant Market-leading verticals Agentic-led verticals platform of scale operating in markets with significant growth and monetization headroom A Business of Scale… …with Leading Positions in Highly Attractive Markets… …and Significant Growth $473m Group Revenue 7 10 H1 26 Markets Br
Slide 32: OLX Operates in the Faster Growing Markets
OLX Operates in the Faster Growing Markets … OLX markets grow >2x faster than most developed classifieds markets Source: Euromonitor as of Aug-25. OLX 32
Slide 33: … with pricing power ...
… with pricing power ... We have significant headroom on take rates OLX markets offer the perfect combination of low but growing Online Classifieds penetration with significant take rate headroom Motors Real Estate Jobs Marketing Spend % of Commissions1 ARPI % of gross wage per vacancy5 GDP / Capita
Slide 34: … and lots of direct traffic.
… and lots of direct traffic. We are the leading brand in our verticals OLX’s strong market share across verticals allows the business to capture the monetization upside, >99% of vertical revenues today from markets with leading positions Motors Real Estate Jobs MAUs1 (k) 10.5x 2.9x 1.1x #2 Player #
Slide 35: Let's first address the "Bear Case"
Let’s first address the “Bear Case” OLX 35
Slide 36: Fragmented Supply: Our Proprietary Data Moat
Fragmented Supply: Our Proprietary Data Moat Significant number of sellers are unique, non-professional users, creating a high-barrier data set that generic LLMs cannot scrape or replicate Fragmented Supply supplemented by Sales Efforts Otomoto PL (Jan’26) Otodom PL (Jan’26) 87% of Sellers (86k Sell
Slide 37: Our Traffic is Resilient
Our Traffic is Resilient 91% of our DAUs are from Direct or Organic traffic sources OLX 37
Slide 38: Resilience under Structural Traffic Shifts
Resilience under Structural Traffic Shifts OLX has a high & stable direct traffic …In worst case scenario, share, with only 13% from organic $13-19m needed to capture search… AI search traffic OLX Overall Traffic mix, Organic Represents Jan.'261 Search 50% LLM traffic substitution 3-4%pts aEBIT marg
Slide 39: We have High Quality Revenue
Advertising/Media Revenue % of Total Revenue We have High Quality Revenue Low reliance on pure ‘eyeballs’ led revenue 0.0% 2.0% 4.0% 6.0% 8.0% NOTE: - Estimates based on publicly available information for Media/Advertising revenue as % of total. Revenues may include 3rd party partnerships as well (e
Slide 40: We have Margin Headroom
We have Margin Headroom Significant Margin Expansion till date driven by Core Vertical Category focus & growth Focus on Core Vertical Categories has …With further OLX headroom to scale contributed to OLX margin expansion… margins (aEBITDA margin %) 1. Cash EBITDA pre SBC (EBITDA less capitalized R&D
Slide 41: We have Expanded Margins while Ramping up AI Investments
We have Expanded Margins while Ramping up AI Investments Talent supporting Enterprise AI Adoption (# FTEs) GenAI Investments ($ M) 151 30 Dedicated and OLX is investing 116 120 AI-adjacent roles 23 $30M in FY26 on more than doubled 22 GenAI capabilities, between FY21 and spanning advanced FY27 drivi
Slide 42: There is an exciting "Bull Case"
There is an exciting “Bull Case” OLX 42
Slide 43: AI: Monetization Booster
AI: Monetization Booster Premium AI tools integrated into Pricing Packages ● Multiple AI features contribute to 8-10% of incremental leads for premium packages. This covers a good portion (1/3) of our price increase for this year ● Ad2Video is part of the features in pricing bundles for motors ● Sal
Slide 44: AI is driving Productivity at Scale
AI is driving Productivity at Scale Growth without Linear Cost Increase Customer Service Efforts (# of CS Tickets/FTE) Content Moderation 15k 25k+ Tickets/FTE In FY28 (+1.6x-2.0x) Performance Marketing 15% Savings in Performance Marketing spends using AI driven campaign efficiency measures FY26 OLX
Slide 45: OLX is Positioned for Growth
OLX is Positioned for Growth An Exciting Future powered by AI The Opportunity Manageable Risks Exciting Markets/ OLX Markets growing >2x <5% EBIT Margin impact 01 Geographies faster than Western EU Manageable Traffic Intermediation risk by LLM in a worst case scenario Plenty of Take-rate >2x of curr
Slide 46: Why we are excited
05 Why we are excited Christian Gisy OLX 46
Slide 47: Why OLX Wins: we are not reacting to AI, we're LEADING it
Why OLX Wins: we are not reacting to AI, we’re LEADING it Long-term ambition Deep Vertical Integration 01 Years of dealer/realtor relationships Proprietary Data Loop 02 Verified, real-time market insights 20%+ Revenue growth AI-first infrastructure 03 Building intelligence since 2018 50%+ Desire to
Slide 48: Q&A
Q&A OLX 48
Slide 49: OLX
OLX