Allegro.eu S.a. · GPW:ALE
Allegro.eu — Q2 2026 Earnings Presentation
43 slides from Allegro.eu's earnings presentation, Sep 17, 2026
Slide 1: Allegro.eu Q2 2026 results presentation
Allegro.eu Q2 2026 results presentation 17 September 2026 1
Slide 2: Disclaimer
Disclaimer This presentation (“Presentation”) has been prepared by Allegro.eu, a public limited liability company (société anonyme) incorporated and existing under the laws of the Grand Duchy of Luxembourg, having its registered office at 6, rue Eugène Ruppert L-2453 Luxembourg, Grand Duchy of Luxembo
Slide 3: Agenda
Agenda Business Highlights Financial Results Group Polish Operations Allegro International Segment Management Outlook Key Takeaways Q&A | 33
Slide 4: Key business highlights of Q2
Key business highlights of Q2 01 Delivered strong quarterly results, with key performance indicators performing YTD ahead of full-year outlook ranges 02 Polish business accelerated supported by excellent execution of the May Smart! Weeks campaign, steady consumer demand and easing competitive pressu
Slide 5: Highlights
Highlights 5
Slide 6: Allegro Group delivered excellent Q2 2026 results
Allegro Group delivered excellent Q2 2026 results Most key performance measures trending year-to-date ahead of their full-year outlook ranges Polish Operations Allegro International Segment Q2 results H1 results FY outlook Q2 results H1 results FY outlook as announced as announced in May ’26 in May
Slide 7: Supercharge the core marketplace
Supercharge the core marketplace Customer and merchants experience radically improved by AI automation and support coupled with unique vertical expertise Focus on growing the core Reinvent the expansion model and replicate marketplace and internationally leveraging assets Everyday online Grow and Ex
Slide 8: Excellent execution on core marketplace fundamentals
Core marketplace Core marketplace Excellent execution on core marketplace fundamentals Supported by outstanding Smart! Week campaign Supercharging the Core Marketplace & Expanding to new categories and segments Drive Best Smart! Weeks campaign ever, first-ever across all markets: Empower Activating E
Slide 9: Accelerating technological progress and AI efficiency
Core marketplace AI enablement Accelerating technological progress and AI efficiency Driving Revenue & Customer Conversion Scaling Partner & Regulatory Operations Logistics AI Assistant: already serving 500k monthly users Partner Assistant reaches full adoption Infrastructure Launched first campaign, h
Slide 10: International marketplaces GMV growth accelerated to 85% YoY
International marketplaces (allegro.cz, allegro.sk, allegro.hu) Expand internationally International marketplaces GMV growth accelerated to significant 85% YoY for Q2, and the number of active customers crossed 5 million in CE-31 Accelerating YoY GMV growth at 85%, with 2.1pp Continued active buyers
Slide 11: Localizing Allegro in CE-3 markets with unmatched selection and pricing
International marketplaces (allegro.cz, allegro.sk, allegro.hu) Expand internationally We are localizing Allegro in CE-3 markets and bringing unmatched selection & pricing to our customers Localized sponsorships and campaigns Unmatched selection & pricing, and increasing importance of our CE-3 partn
Slide 12: Another excellent quarterly performance in FinTech
Grow and FinTech externalize assets Another excellent quarterly performance in FinTech Allegro Pay maintains strong growth momentum in Q2… … with further progress in product development Allegro Klik within five months became our +35% PLN 51.3m 16.4% 53% >300k fastest-growing payment method to date: Y
Slide 13: Further progress in Allegro Delivery partnership programme
Grow and Delivery Experience externalize assets Further progress in Allegro Delivery partnership programme, with managed volume share up to nearly 50% for Q2’26 Continued scaling of delivery capabilities to increase convenience and optimise costs Continued Allegro Delivery partnership programme expa
Slide 14: Strengthening executive leadership to drive strategic priorities
Strengthening executive leadership to drive strategic priorities Katarzyna Daniel Dariusz OSTAP-TOMANN ROGIŃSKI MAZURKIEWICZ 25+ years of corporate finance experience, Proven retail and e-commerce leader with Renowned fintech leader who co-created the managing major listed companies, with extensive ex
Slide 15: Financial Results: Consolidated Group
Financial Results Consolidated Group 15
Slide 16: Q2 delivers further acceleration: Group GMV up 14.4% YoY
Consolidated Group Q2 delivers further acceleration: Group GMV up 14.4% YoY (+1.6 pp QoQ) as Polish Operations grew 12.0% YoY and International surged to 82.4% YoY Q2 2026 Top Line Highlights1 ● Polish GMV up 12.0% YoY for Q2 (+0.4pp QoQ), growing Active Buyers GMV per Active Buyer over three times
Slide 17: Group quarterly Adj. EBITDA tops PLN 1 billion for the first time
Consolidated Group Group quarterly Adj. EBITDA tops PLN 1 billion for the first time (+11.5% YoY) Q2 2026 Profitability, Cash-flow and Leverage Highlights1 ● Group Adjusted EBITDA, up to PLN 1,030m, +11.5% YoY, as: Adjusted EBITDA Group +11.5% ○ Polish Adj. EBITDA grew 11.3% YoY, with resilient GMV Pol
Slide 18: Group leverage drops 0.21x to 0.72x in Q2
Consolidated Group Group leverage drops 0.21x to 0.72x in Q2 on strong cash flow and rising Adj. EBITDA PLN m (unaudited) 30.06.2025 31.12.2025 31.03.2026 30.06.2026 (unaudited) (audited) (unaudited) (unaudited) LTM Adjusted EBITDA Polish Operations 3,754.3 3,982.2 4,141.3 4,258.7 ● Group’s liquidity
Slide 19: Financial Results: Polish Operations
Financial Results Polish Operations 19
Slide 20: Deepening buyer engagement in Poland
Polish Operations Deepening buyer engagement in Poland, with +470k new Activer Buyers and 7.3% higher YoY annual spend Active Buyers (period end) LTM GMV / Active Buyer (period end) m PLN 3.1% 7.3% 0.4% 0.8% 1.0% 0.9% 2.0% 1.5% 1.5% 2.0% QoQ YoY QoQ YoY 20
Slide 21: Polish GMV growth continued to accelerate to 12.0% YoY
Polish Operations Polish GMV growth continued to accelerate sequentially to 12.0% YoY for Q2, driving LTM GMV in Poland to surpass PLN 70 billion (10.6% YoY) GMV1 PLN bn 9.8% 10.4% 8.6% 11.6% 12.0% ● GMV growth accelerated 0.40pp QoQ as headwinds from an early Easter were overcome by an excellent Sm
Slide 22: Polish revenue up PLN 0.4bn or 14.4% YoY
Polish Operations Polish revenue1 up PLN 0.4bn or 14.4% YoY, driven by accelerating GMV growth, advertising and logistics as take rate changes paused for 2026 Revenue bridge Take Rate4 PLN m % 8.2% 31.1% 102.7% 7.6% 23.8% 23.1% 14.4% ● Q2’26 Take Rate down 0.42pp YoY, as headline rate increases paus
Slide 23: Adjusted EBITDA up 11.3% YoY, GMV margin resilient at 6.23%
Polish Operations Adjusted EBITDA up 11.3% YoY, with GMV margin resilient at 6.23% ● Continued strong contribution from Advertising, as well as 1 Adjusted EBITDA bridge in Q2 2026 fintech and logistics service revenue within “Other” PLN m ● Costs of delivery grew 19.9% YoY, at 5.4% (+0.36pp YoY) of G
Slide 24: Capex driven by accelerated investment in delivery projects
Polish Operations Capex driven by accelerated investment in delivery projects Year-to-date capital expenditure in line with medium term guardrails Capital expenditures1 by type PLN m ● PLN 90.9m or 47% increase in capital expenditures driven mostly 47.2% by accelerated investments in delivery assets
Slide 25: Financial Results: Allegro International Segment
Financial Results Allegro International Segment 25
Slide 26: International marketplaces build further momentum as Q2 GMV grows 85% YoY
Proforma results for Allegro International marketplaces (allegro.cz, allegro.sk, allegro.hu) only, excluding Mall North legacy impact on growth rates Allegro international marketplaces build further momentum as Q2 GMV grows 85% YoY (+17pp QoQ) Traffic1 35.3% 10.5% 16.6% 25.2% 30.3% LTM GMV per 22.9% V
Slide 27: International marketplaces attracted over 1.3 million new shoppers YoY
Allegro International Segment International marketplaces attracted over 1.3 million new shoppers YoY and reached 5.3 million buyers with continued progress in average annual spend Active Buyers LTM GMV per 36.8% (period end)1 Active Buyer -1.8% m (period end)1 0.5% 11.6% 12.9% 8.0% PLN Mall North le
Slide 28: International Segment GMV growth accelerated to 82.4% YoY
Allegro International Segment Allegro International Segment GMV growth accelerated to 82.4% YoY in Q2 (+36pp QoQ), as Mall legacy 1P headwinds are left behind Allegro -8.2% -3.5% 21.5% 46.3% 82.4% Allegro International International segment GMV 38.0% 42.3% 37.5% 60.9% 80.2% 82.4% segment GMV split,
Slide 29: Segment revenue up 46.3%, driven by marketplace growth
Allegro International Segment Segment revenue up 46.3%, driven by 65.5% YoY growth in marketplace Revenue1 of Allegro International Take Rate3 PLN m % 46.3% YoY change ● Q2’26 Take Rate down 1.07pp YoY, reflecting investments into platform price competitiveness and selection 191.6% Other2 (e.g. incen
Slide 30: International Adj. EBITDA loss edged up 8% YoY
Allegro International Segment International Adj. EBITDA loss edged up 8% YoY, reflecting investments to scale marketplace growth, with GMV margin improvement by almost 8pp YoY to -11.6% Adjusted EBITDA, PLN m Adjusted EBITDA bridge, PLN m, YoY -19.6% -19.2% -16.8% -10.7% -11.6% -19.6% -11.6% -85.9 -1
Slide 31: Management Outlook
Management Outlook 31
Slide 32: Q3 2026 current trading
Management Outlook Q3 2026 current trading Polish Operations ● The first ten weeks of trading in Q3 has seen Polish Operations GMV percentage YoY growth accelerating to around 14-15%. ● Altogether, YTD GMV growth exceeds the high-end of the 2026 full year outlook of 9-11% YoY. Allegro International S
Slide 33: Upgrade to full-year Outlook for Polish and International business
Management Outlook Accelerating year-to-date growth and strong profitability drives upgrade to full-year Outlook for Polish and International business Annual outlook as updated in May ’26 Current Outlook update PLN / Polish Allegro Intl. Group1 Polish Allegro Intl. Group1 % YoY change Operations Segm
Slide 34: Key Takeaways
Key Takeaways 34
Slide 35: Key takeaways
Key takeaways 01 Delivered excellent Q2’26 results, with Polish growth accelerating sequentially to 12.0% YoY and profitability ahead of expectations at 6.23% GMV / Adj. EBITDA margin 02 Continued strong acceleration in Allegro International Segment, growing over 82% YoY 03 Sequential progress on gro
Slide 36: Q&A
Q&A 36
Slide 37: Thank you
Upcoming investor meeting opportunities: London | 22-23 September UBS investor meetings Munich | 24 September Baader investment conference Online | 29 September Bank of America virtual fireside chat Sopot | 1 October PKO investment conference Thank you New York City | 1-2 October Citi investor meetin
Slide 38: Q2 2026 key results: Consolidated Group
Group Consolidated Q2 2026 key results: Consolidated Group1 GMV Active Buyers2 LTM GMV / Active Buyer Take Rate Q2 2026 PLN 19,572m +14.4% YoY 20.9m +1.6% YoY PLN 3,528 +9.8% YoY 12.30% -0.56pp YoY H1 2026 PLN 36,865m +13.7% YoY 12.36% -0.29pp YoY Revenue Adjusted EBITDA Adj. EBITDA / GMV Margin Cas
Slide 39: Q2 2026 key results: Polish Operations
Polish Operations Q2 2026 key results: Polish Operations1 GMV Active Buyers2 LTM GMV / Active Buyer3 Take Rate4 Q2 2026 PLN 18,514m +12.0% YoY 15.6m +3.1% YoY PLN 4,482 +7.3% YoY 12.59% -0.42pp YoY H1 2026 PLN 35,003m +11.8% YoY 12.62% -0.19pp YoY Revenue5 Adjusted EBITDA Adj. EBITDA / GMV Margin Ca
Slide 40: Q2 2026 key results: Allegro International Segment
Allegro International Segment Q2 2026 key results: Allegro International Segment1 GMV Active Buyers2 LTM GMV / Active Buyer3 Take Rate Q2 2026 PLN 1,058m +82.4% YoY 5.3m -1.8% YoY PLN 663.4 +36.8% YoY 7.00% -1.07pp YoY H1 2026 PLN 1,862m +64.8% YoY 7.38% -0.39pp YoY Revenue Adjusted EBITDA Adj. EBIT
Slide 41: Medium-term aspirations
Appendix | Medium-term aspirations Updated medium-term aspirations as published on March 12th, 2026 Growth and Profitability Investment funding guide rails ● Deliver >10% GMV CAGR in Poland, supported by new product and From Polish Adjusted EBITDA, invest: service categories ● Up to 25% to fund Polis
Slide 42: Group structure explained
Appendix | Group structure explained Consolidated Group: ALLEGRO.EU Polish Operations International Operations Reportable Allegro Ceneo Other Allegro International segment Legal Allegro sp. z o.o. Ceneo.pl sp. z o.o. Allegro.eu S.A. International marketplaces: (excl. Allegro International entities A
Slide 43: Capital Allocation Policy
Appendix | Capital Allocation Policy Share buyback of PLN 1.6 billion for 2026 approved by the AGM in June ’26 Key principles Management’s targets and comments ● Allegro’s primary focus is to invest in its medium term Allegro’s leverage and liquidity targets: business objectives to drive further org