Slide 1: InPost Group Q2 & H1 2023
InPost Groug 1 Q2 & H1 2023 September 6, 2023 out of the box
Slide 2: Disclaimer
Disclaimer Disclaimer Financial results andoutlook Forward-looking statements, No representations, warranties or undertakings, Market and industry data No offer ‘Agreement with these terms ‘out of the box Please read the following before continuing. The following applies to this presentation, to any
Slide 3: Agenda
~npost ll Key highlights li Business update Poland = Business update Mondial Relay = Business update UK = Financials = Outlook
Slide 4: Our mission
Our mission ’? Transforming Europe’s e-commerce last-mile delivery 7? out of the box 4
Slide 5: We are the leading out-of-home e-commerce delivery company in Europe
\ We are the leading out-of-home e-commerce delivery company in Europe ~CinPost ale Markets 9 Total APM 31,443 0) Total PUDO 28,197
Slide 6: Another quarter with very strong volume growth and significant profitability improvement
\ Another quarter with very strong volume growth and significant profitability > InPost improvement FH 215m +15% +28% Parcel volume (+19% YoY) Parcel volume increase YoY Parcel volume increase YoY "ain 2,140.5m +29% +22% Revenue? (+26% YoY) [PLN] Revenue growth YoY Revenue growth YoY 690.1m 48% 32%
Slide 7: Outperforming the market in all key geographies
\ S A A 7 —( InPost Outperforming the market in all key geographies ote InPost and total e-commerce market volume growth Poland France United Kingdom 26% 34% 227% 82% os 92% Q3'22 Q4'22 Q1'23 Q2'23 -3% % 8% -7% 6% -7% Q3'22 Q4'22 Q1'23 Q2'23 Q3'22 Q4'22 Q1'23 Q2'23 WH Ph market! MB InPost Ml ER mark
Slide 8: Investment in Menzies unlocks our UK growth
Investment in Menzies unlocks our UK growth = (inPo a neue | t 4G Full nationwide + 24/7 national network, deliveries over coverage 360 days + 47k daily deliveries in the UK and Ireland Immediate + 100+ network locations capability to + 1 central hub (17k sqm) and 9 regional hubs support scaling. 3.
Slide 9: Business update Poland
Slide 10: Continued market leadership
Continued market leadership Greater convenience 21k APMs #k APMs out of the box po Q2 2022 Q2 2023 Source: Company data, Market reports Undisputable market leader # APMs Q2 2023 # Lockers Q2 2023 DHL DPD Boczta Polska DHL Poezta Polska Orlen Allegro Orlen Allegro DPD InPost 60% of Polish population
Slide 11: Building even greater consumer and merchant engagement
\ Building even greater consumer and merchant and engagement = InPost Consistently increasing customer base Wider merchant adoption 10.7M (+21% YoY) Mobile App users 50.6k (+15% Yoy) integrated merchants in Poland 17.3M (+10% YoY) APM users APM users per user group [m] APM volume per user group [m]
Slide 12: Unrivalled leader in user experience
Unrivalled leader in user experience 78% The highest NPS across the market 08 94% of respondents choose parcel locker as the most frequent delivery form zi ‘out of the box 1) Distance (in p.p) to the nearest competitor; Source: KANTAR, Research Report, May 2023 82% +2 of responden that InPost delive
Slide 13: 15% volume growth YoY
15% volume growth YoY reflecting continued market share gains Parcel volume [m] 141.6 APM El to-door Source: Company data Customers continue to choose InPost’s APMs APM volume continues growing faster than locker capacity APM volumes and lockers [m] 119.3 _ Ml APM volume 101.8 2.7 HM Lockers Q2 2022
Slide 14: Robust resilience against competition
\ Robust resilience against competition 7Kunkost APMs with competition nearby continue to do better than In Q2 2023, InPost’s APMs those without remained resilient against competitors' APMs located nearby, proving customer Average weekly parcels delivered to APMs near competitors’ APMs! loyalty and
Slide 15: Business update Mondial Relay
Slide 16: Building up Mondial Relay market position
out of the box Building up Mondial Relay market position +4.4k new OOH points (+22% YoY) #k PUDOs - Mondial Relay #k APMs - Mondial Relay markets markets 19.8 4.0 18.4 1.0 Q2 2022 Q2 2023 Q2 2022 Q2 2023 MM France Ml Other markets Countries included: France, Spain, Portugal, Belgium, Netherlands, Lu
Slide 17: APMs gaining traction in Mondial Relay markets
APMs gaining traction in Mondial Relay markets Increasing share of APM vs PUDO volumes 12% of total Mondial Relay volume © in Q2 2023 delivered via APM (vs. 3% in Q2 2022) Parcel volume by point of delivery [m] Q2 2022 Q2 2023 apm =H pupo to-door out of the box 1) All markets excluding Poland; Sourc
Slide 18: Improving competitive positioning in France
XN . cas sees . Nap © —( InPost Improving competitive positioning in France -S #2 OOH player in France Improving customer experience Number of OOH points (Q2 2023, k) Ap Em pubo 600k app downloads 16.4 Positive Customer feedback 73 I 49 8.8/10 rating on Avis vérifiés | De oe 4.4/5 Average app rating
Slide 19: Business update United Kingdom
Slide 20: The only agnostic APM network of scale
The only agnostic APM network of scale = CinPost Consistent APM growth and PUDO in high-demand areas 5.4k APMs #k APMs and PUDOs G55%) 3.9 Q2 2022 Q2 2023 Mi apMs Ml PUDOs cut ofthe box |) Population over 175,000; Source: Company data APMs’ growing at unmatched pace vs. competitors MM 012023 MM Q2 2
Slide 21: Customer and merchant adoption accelerating
Customer and merchant adoption accelerating Growing customer base and order frequency for our flagship products 152% Trustpilot rating a 124% 114% 4.5/5.0 a an average for Q2 2023 1.6m (+232% YoY) Unique customers in Q2 2023 L2L and Returns Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 MM Returns Customer
Slide 22: New logistics solution allowing us to activate the potential of our network
\ S New logistics solution allowing us to activate the potential of our network os InPost APM utilisation ramping up rapidly Increase in InPost UK volume since the Weekly InPost UK APM Monthly UK volume LOGISTICS TRANSITION utilisation %, 2023 YTD TO MENZIES m parcels uN LOGISTICS TRANSITION 45 4 |
Slide 23: Positive results of our actions: higher adoption of APMs and improving product mix
Positive results of our actions: higher adoption of APMs and improving product mix Higher adoption for new APMs # of parcels per APM by cohort per month post installation N w ~ 5 6 7 8 9 10 1 12 — 2023 — 2022 — 2021 Soure npany data cut ofthe box SOUrce: Company dat: Volumes in the UK [m parcels] +9
Slide 24: Financials
~Cinpost 4 . Financials
Slide 25: Summary of H1 and Q2 2023 financial performance
\ Summary of H1 and Q2 2023 financial performance aA InPost Parcel volume (m) 4B.3 344.0 20.2% 214.7 179.9 19.3% Revenue! 4,136.4 3,238.6 27.7% 2,140.5 1,696.5 26.2% of which Poland 2,469.9 1915.8 28.9% 12945 1,004.2 28.9% of which Mondial Relay 1,432.1 1,245.9 14.9% 715.0 645.0 10.9% of which Inter
Slide 26: Financial highlights: Poland
\ Financial highlights: Poland of InPost Strong revenue growth and margin expansion driven by volume supported by continued repricing effect Parcel volume [m] Revenue! [PLN m] Ml APMvolume Ill To-door volume Mi apM Ml To-door Other 141. 29 «= = ° 2349 B® oo Q2 2022 Q2 2023 H1 2022 H1 2023 92.2022 02
Slide 27: Financial highlights: Mondial Relay
Financial highlights: Mondial Relay Continued above-market volume growth while product mix and investment in network dilute margin Parcel volume [m] GD . ni 0 59.8 N61 $2. 100.3 a Q2 2022 Q2 2023 H1 2022 H1 2023 Adjusted EBITDA & Margin [PLN m or %] ‘—® Adjusted EBITDA margin Adjusted EBITDA 103.4 9
Slide 28: Financial highlights: International (UK & Italy)
Financial highlights: International (UK & Italy) Sustained strong volume growth coupled with consistent improvement of unit economics driving meaningful loss reductions Parcel volume [m] 133 Q2 2022 Q2 2023 Adjusted EBITDA [PLN m] 69 -24.0 52 43.7 Q2 2022 Q2 2023 Mux MH taly +168% 23.6 88 H1 2022 H1
Slide 29: Financial highlights: UK unit economics evolution
Financial highlights: UK unit economics evolution Parcel volume [m] Revenue’ per parcel [PLN] Adj. EBITDA? per parcel [PLN] 22022 3 2022 Q4 2022 G92% G%) 76%) 12023 22023 Il Delayed Logistics migration and one-off costs Q2 2023 highlights = 92% YoY volume growth in Q2 2023 mainly driven by C2C (+153
Slide 30: Financial highlights: Adjusted EBITDA to Net Profit
Financial highlights: Adjusted EBITDA to Net Profit PLN m, unless otherwise stated Adjusted EBITDA Margin % Share-based compensation [MIP valuation] LTIP valuation Restructuring costs Operating EBITDA Margin % IFRSI6 RoU amortisation Other intangibles amortisation PPE depreciation EBIT Margin % Net
Slide 31: Financial highlights: Highly cash generative business model in Poland
Financial highlights: Highly cash generative business model in Poland Strong FCF generation favourable for net leverage reduction H1 2022 PLN million 920.1 25% PL adjusted EBITDA conversion -12% q Group adjusted EBITDA conversion ee -108.7 FCF Group Adjusted EBITDA FCF Poland Soure an} outorthe sour
Slide 32: Financial highlights: Lower Capex due to lower APM production spend in H1
\ Financial highlights: Lower Capex due to lower APM production spend in H1 ~(inPost 2023 vs. H1 2022, Polish network deployment scale down and moderating Ops capex in France Group Capex split [PLN million] 183.7 Q2 2022 Q2 2023 H1 2022 H1 2023 @ Poland Ml International (UK+IT) Mondial Relay @QJ¥ ca
Slide 33: Financial highlights: Net Debt and Leverage of InPost
\ Financial highlights: Net Debt and Leverage of InPost Net leverage decreased by 0.5x vs 2022 year-end (+) Gross debt 6,673.4 6,699.5 (26.1) (0.4%) fi) Decrease in borrowings driven , ; , mainly by positive FX effect on bonds Borrowings & financial instruments at 49701 5.0559 Gl (es8) 1.7%) denomin
Slide 34: Outlook
» Outlook
Slide 35: FY 2023 Outlook (updated)
aS FY 2023 Outlook (updated) aA InPost E-commerce market volume growth We expect i) high single to low double digit market volume growth in Poland, ii) low single digit in France andiii) a mid single digit market parcel volume decline in the UK. Volume and Revenue growth We expect to outperform mark
Slide 36: Thank you
Thank you out of the box Meet us at: Sep7 Business Services, Leisure and Transport Conference - UBS, London Sep 11-12 EEI Conference - Pekao, Warsaw Sep 15 Growth Conference - Citi, London Sep 27-28 PKO by the Sea — PKO BP, Sopot Oct 9-11 The Finest CEElection — Erste, Vienna Oct 12-13 Investor Week
Slide 37: Appendix
) Appendix
Slide 38: Financial highlights: Adjusted EBITDA to Net Profit
\ Financial highlights: Adjusted EBITDA to Net Profit —(CinPost s PLN m, unless otherwise stated Adjusted EBITDA 690.1 511.0 179.1 35.0% Margin % 32.2% 30.1% 210bps Share-based compensation [MIP valuation] (14) (01) (13) 1,300.0% LTIP valuation (5.4) (2.9) (3.4) 170.0% Restructuring costs (75) (3.0)
Slide 39: Highly cash generative business model in Poland — Q2 23
aS . Highly cash generative business model in Poland — Q2 2023 7h inPost Q2 2022 Q2 2023 PLN million PLN million 511.0 618.9 28% PL 22% adjusted WTS 138% PL 314.7 EBITDA adjusted | 3% conversion cash cost roup adjusted and 29.0 adjusted EBITDA Group 29 eR EBITDA conversion adjusted = 1.1 effects EBI
Slide 40: Definitions and numerical reconciliations of Alternative Performance Measures
Definitions and numerical reconciliations of Alternative Performance Measures Adjusted facilitates the comparisons of the Group's operating results from period to period EBITDA and between segments by removing the impact of, among otherthings, its capital structure, asset base and tax consequences,
Slide 41: Profit and Loss / Comprehensive Income Statement
d of 6 months Profit and Loss PLN m, unless otherwise stated Pe ended on 30-06-2022 pan and Other Revenue 4721.7 3,221.9 899.8 27.9% Comprehensive Other operating income 14.7 16.7 (2.0) (12.0%) Depreciation and amortisation 568.) 443.7 124.4 28.0% Income Raw materials and consumables 138.1 80.8 573
Slide 42: Cash Flow Statement
Cash Flow Statement out of the box Source: Company data PLN m, unless otherwise stated Cash flows from operating acti Period of 6 months ended on 30-06-2022 Net profit 243.9 285.3 Adjustments: 974.5 684.0 Income tax expense 138.6 100.1 Financial (cost)/income 240.6 1266 Gain/(loss) on sale of proper
Slide 43: Balance Sheet Statement
Balance Sheet Statement out of the box PLN m, unless otherwise stated Balance as at \ N Non-current assets 7.3.9 6,988.0 ~{ InPost Goodwill 1412.4 1,488.4 Intangible assets 1,002.4 1,043.0 Property, plant and equipment 44627 42266 Other receivables 265 261 Deferred tax assets 1756 1663 Other assets
Slide 44: InPost Group out-of-home points
InPost Group out-of-home points out of the box Out-of-home points of which APMs of which Poland of which France of which UK of which other markets of which PUDOs of which Poland of which France of which other markets Source: Company data \ ~ —(l 7 Post
Slide 45: Glossary
Glossary out of the box Source: Company data APM B2c c2c Heavy user KPI L2A L2L Net Leverage OOH PUDO Soft user Super heavy user To-door .\ ~—( InPost [tation Automated Parcel Machine Business-to-customer Customer-to-customer APM user who received 13-39 APM parcels within last 12 months Key Performa