Slide 1: Earnings Update for the year ended 31 March 2025
Earnings Update For the year ended 31 March 2025
Slide 2: Forward looking statements
Forward looking statements This report contains forward-looking statements as defined in the United States Private Securities Litigation Reform Act of 1995 concerning our financial condition, results of operations and businesses. These forward-looking statements are subject to a number of risks and
Slide 3: Welcome! Our agenda
WELCOME! Our agenda 1 2 3 Strategy Financial Q&A & Progress Results 3 FY25 Financial Results
Slide 4: Building the #1 lifestyle ecommerce company in Europe, India and Latin America
WE ARE BUILDING THE #1 LIFESTYLE ECOMMERCE COMPANY IN EUROPE, INDIA AND LATIN AMERICA UNLOCKING AN AI-FIRST WORLD FOR OUR 2B CUSTOMERS 4 4 FY25 FY25Financial FinancialResults Results
Slide 5: Our ecosystems are powered by Prosus's Food, Fintech, Commerce & Experiences businesses
Our ecosystems are powered by Prosus’s Food, Fintech, Commerce & Experiences businesses Creating the next $100B in value EUROPE Operating CHINA best in class INDIA regional ecosystems LATAM Investing in VENTURES LISTED new opportunities that enhance our ecosystems Note: Just Eat Takeaway has not yet
Slide 6: Our culture is a critical driver of our success
Our culture is a critical driver of our success CONNECTION RITUALS IMPACT PEOPLE MANAGEMENT MODEL KNOWLEDGE SHARING RESULTS INNOVATION ENTREPRENEURSHIP 30+ WORKSHOPS 6 FY25 Financial Results
Slide 7: We are re-imagining Ecommerce through AI and Innovation
We are re-imagining Ecommerce through AI and Innovation Re-invent AI Agents, AI Ecommerce Large Commerce Workforce Models The next We are building a The next wave Ecommerce is unique foundation of hiring is agentic, personal, for Prosus AI workers ecosystem Ecommerce 7 FY25 Financial Results
Slide 8: We are actively managing our regional portfolios with discipline
We are actively managing our regional portfolios with discipline Investing to enhance ... Backing innovation ... Making trade-offs to our ecosystems in AI companies focus our portfolio $7.8B 20+ $2.6B M&A in the Investments in Proceeds in the past 12 months1 AI-native startups last 12 months Others
Slide 9: We are growing our revenue rapidly
We are growing our revenue rapidly Consolidated Ecommerce Revenue ($’B) 6.2 18% Average organic growth 5.5 rate % from FY21 to FY251 4.5 4.3 3.8 FY21 FY22 FY23 FY24 FY25 1 Growth in local currency excluding M&A. 9 FY25 Financial Results
Slide 10: We are shifting our profits from millions to billions
We are shifting our profits from millions to billions Consolidated Ecommerce aEBIT ($’M) 800+ $1.2B IMPROVEMENT IN 3 YEARS 443 38 (413) FY23 FY24 FY25 FY26¹ 1 $800M+ is based on guidance provided and includes Despegar from May 2025. 10 FY25 Financial Results
Slide 11: Our largest investment is in the future of Prosus
Our largest investment is in the future of Prosus Our open-ended buyback programme is the largest of any Tech company Buyback as % of shares outstanding1 29% 27% 24% 22% 21% 16% 16% 12% 11% 9% 1 As of 30 May 2025, Prosus based on net buyback relative to free float shares. Companies selected from S&P
Slide 12: We are following through on our commitments
We are following through on our commitments GOALS RESULTS Change the culture: innovation & speed “Prosus Way” management model More communication, AI first and accountability Achieved revenue growth of 21%, Results: moving from millions to billions exceeded aEBIT goal by 11% ($43M) Hit & exceeded Ec
Slide 13: We are just getting started!
WE ARE JUST GETTING STARTED! 13 FY25 Financial Results
Slide 14: Financial Results
2 FINANCIAL RESULTS
Slide 15: FY25 Financial Highlights
FY25 Financial Highlights 1 21% Ecommerce revenue growth. 2x faster than our peer group 2 $443M Ecommerce aEBIT and delivered positive Group aEBIT 3 $513M free cash flow improvement – 1st year of FCF positivity ex-Tencent 4 59% Core HEPS growth – earnings enhanced by 36% reduction in share count1 5
Slide 16: Revenue growth outpaced our peers 2x
Revenue growth outpaced our peers 2x … Sustained revenue growth Quicker than peers Revenue ($’M) & Revenue Growth (%)1 Peers² Prosus Ecommerce¹ +2x 40 % 17% 22% 26% 20 % 21% 19% 16% 16% 16% 0% 18% -20% 3,207 -40% 10% 10% 10% 2,911 2,963 2,442 2,556 2,039 -60% -80% -100 % H1 FY23 H2 FY23 H1 FY24 H2 F
Slide 17: ... and profit continues to improve meaningfully
… and profit continues to improve meaningfully aEBIT of $443m, ahead of guidance and more to come Significantly improved Ecommerce profitability Ecommerce aEBIT1 ($’M) 181 262 $800M+ Consolidated Ecommerce 74 aEBIT target for FY262 (36) $443 aEBIT for $1.2B (256) (157) FY25 Improvement over 3 years
Slide 18: Our key operating businesses continue to deliver
Our key operating businesses continue to deliver…. iFood achieves +120m 20% growth in aEBIT monthly orders in March Margins in 2 years5 Monthly orders1 (M) 122 115 29M 64M 1.8M 89 FY25 App MAU FY25 Active listings FY25 Paying listers 74 65 48 27 13 Ave. Monthly Revenue per Ave. Monthly Revenue per 1
Slide 19: iFood exceeded growth and profitability targets
iFood exceeded growth and profitability targets 31% 2.4x 17% FY25 Revenue growth1,2 FY25 aEBIT growth2 FY25 aEBIT margin2 2100 Revenue (BRL’M)2 aEBIT (BRL’M)2 1900 500 25% 332 321 1700 400 20% 300 17% 262 15% 1500 300 10% 253 1300 221 200 433 5% 214 326 224 265 272 100 219 0% 1100 214 242 143 174 1,
Slide 20: OLX grew core categories strongly and expanded margins
OLX grew core categories strongly and expanded margins Motors1 24% FY25 YoY revenue growth Revenue ($’M) & 18% aEBIT Margin (%)2,3 FY25 Revenue growth3 Margin 47% (%) 46%² 37% 40% 33% 220 150 Revenue (US$’m) 126 152 200 9 114 Loved 180 19% Brands H1 FY24 H2 FY24 H1 FY25 H2 FY25 >90% brand 160 awaren
Slide 21: PayU grew revenue strongly and improved margins
PayU grew revenue strongly and improved margins 24% +3p.p. FY25 YoY revenue -7% 2H25 YoY aEBIT India FY25 aEBIT margin Payments margin growth1 improvement PayU India revenue ($’M)1 170 175 175 159 149 137 138 127 127 127 119 99 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 FY23 FY23 FY23 FY23 FY24 FY24 FY24 F
Slide 22: eMAG achieves FY25 profitability target
eMAG achieves FY25 profitability target eMAG Group hit guidance of 12% FY25 YoY revenue growth1 Profitability in FY25 Revenue ($’M) aEBIT margin (%) 2% 1% 1% (0%) (0%) 795 (1%) 756 (2%) (2%) 638 554 577 530 520 481 (3%) 431 412 447 449 (4%)(4%) (4%) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
Slide 23: FCF grew strongly driven by improved profitability
FCF grew strongly driven by improved profitability … Incremental FCF from continuing operations, YoY ($’M)1 $513M Improvement YoY (45) 242 (40) 356 1,037 524 FY24 Cash from operations Capex Tencent & other dividends Tax FY25 1 FCF (Free cash flow) is defined as aEBITDA less adjustments for non-cash
Slide 24: First ever period of positive FCF ex-Tencent
… leading to the first ever period of positive FCF ex-Tencent FCF1 excluding Tencent dividend ($’M) 36 (235) $984M Improvement in 3y (814) (948) FY22 FY23 FY24 FY25 1 FCF (Free cash flow) is defined as aEBITDA less adjustments for non-cash items, SBC, working capital (excluding merchant cash), taxat
Slide 25: Our dividend has increased 100% YoY
Our dividend has increased 100% YoY 25 Prosus dividend per share (€ cents) 117% 100% 97% 20 20 77% 57% 15 43% 37% YoY Growth 27% 10 9% 10 17% 0% 7 -3% 5 6 6 5 -23% - -43% FY21¹ FY22¹ FY23¹ FY24 FY25 FY26² 1 Dividend per share paid in FY21, FY22 and FY23 have been adjusted for the cross-holding unwin
Slide 26: Balance sheet strength amplified by diversifying cash flows
Balance sheet strength amplified by diversifying cash flows We remain committed to an Investment Grade rating Increasing & diversifying Net cash1 of US$1.9B dividends to HoldCo at 31 March 2025 ($’B) ($’M) Investment Grade 37% BBB (S&P) / Baa2 (Moody’s) YoY 1 269 7.0 8.6% LTV 4 Based on gross debt2
Slide 27: Our buyback creates value every single day
Our buyback creates value every single day … Impact of all buybacks to date Illustrative NAV per share ($)1 TOTAL $50B 1.2B ACCRETION +14% +15% +8% +10% +1% +3% Capital Prosus & Naspers returned2 shares acquired3 73 75 76 72 66 67 68 36% 15% Prior to FY21 FY22 FY23 FY24 FY25 FY26 to date of Prosus N
Slide 28: In summary, we are:
In summary, we are: 1 2 3 4 5 Results Delivering Investing Accelerating Creating focused growth & in our with value for profitability ecosystems innovation investors and AI 28 FY25 Financial Results
Slide 29: Join us in London in two days!!!
Join us in London in two days!!!
Slide 30: Appendix
01 FY25 Group Consolidated Results 02 Results of Associates and JV’s APPENDIX 03 Debt metrics 04 Portfolio return 05 Group Portfolio & Glossary
Slide 31: FY25 Financial Highlights
1. FY25 Group 2. Results of Associates & JV’s 3. Debt metrics 4. Portfolio return 5. Group Portfolio & Glossary Consolidated Results FY25 Financial Highlights ▪ Ecommerce revenue growth grew more than 2x Financial Summary faster than our peer group FY24 FY25 ▪ Ecommerce aEBIT beat guidance, and Cons
Slide 32: Peer-leading revenue growth with improved margin
1. FY25 Group 2. Results of Associates & JV’s 3. Debt metrics 4. Portfolio return 5. Group Portfolio & Glossary Consolidated Results Peer-leading revenue growth with improved margin Strong Revenue Growth Positive Group aEBITDA Positive Group aEBIT Improved Free Cash Flow Consolidated Group Consolida
Slide 33: Driven by strong performance from core business units
1. FY25 Group 2. Results of Associates & JV’s 3. Debt metrics 4. Portfolio return 5. Group Portfolio & Glossary Consolidated Results Driven by strong performance from core business units Revenue Growth1 FY25 YoY +31%2 +18%3 +24% +12% +16% 33% 40% 3% 19% 2% 11% aEBITDA margin4 (1%) (3%) (43%) (8%) FY
Slide 34: Strong growth and profitability performance from iFood
1. FY25 Group 2. Results of Associates & JV’s 3. Debt metrics 4. Portfolio return 5. Group Portfolio & Glossary Consolidated Results Strong growth and profitability performance from iFood Consolidated Food Delivery iFood Brazil Continuing core Food Delivery New initiatives2 31% 30% 33% YoY YoY YoY R
Slide 35: OLX experienced strong growth and enhanced margins
1. FY25 Group 2. Results of Associates & JV’s 3. Debt metrics 4. Portfolio return 5. Group Portfolio & Glossary Consolidated Results OLX experienced strong growth and enhanced margins Revenue from aEBITDA from continuing aEBIT from continuing continuing operations1 ($’M) operations ($’M)1 operations
Slide 36: Strong revenue growth & cost efficiencies drive improved profit
1. FY25 Group 2. Results of Associates & JV’s 3. Debt metrics 4. Portfolio return 5. Group Portfolio & Glossary Consolidated Results Strong revenue growth & cost efficiencies drive improved profit Consolidated Payments & Fintech1 34% 24% Turkey & 86% GPO4 23% 1,339 YoY India3 YoY YoY YoY 669 Other R
Slide 37: eMAG Romania drives good growth and profit improvement
1. FY25 Group 2. Results of Associates & JV’s 3. Debt metrics 4. Portfolio return 5. Group Portfolio & Glossary Consolidated Results eMAG Romania drives good growth and profit improvement Consolidated Etail 12% 18% -29% 30% YoY Romania YoY Other YoY New YoY 2,457 regions2 Initiatives2 2,206 Revenue1
Slide 38: Edtech grew steadily with a profitability step up
1. FY25 Group 2. Results of Associates & JV’s 3. Debt metrics 4. Portfolio return 5. Group Portfolio & Glossary Consolidated Results Edtech grew steadily with a profitability step up Turnaround measures drive robust Steady revenue growth and growth and loss reduction profitability improvement 17% 12
Slide 39: Ecommerce & Tencent performance drives strong core HE
1. FY25 Group 2. Results of Associates & JV’s 3. Debt metrics 4. Portfolio return 5. Group Portfolio & Glossary Consolidated Results Ecommerce & Tencent performance drives strong core HE Incremental Core HE1 from continuing operations, YoY ($’M) 47% YoY 175 7 370 1 876 (25) 341 5 003 FY24 Improved p
Slide 40: Corporate costs in total reduced on realignment to new organisation
1. FY25 Group 2. Results of Associates & JV’s 3. Debt metrics 4. Portfolio return 5. Group Portfolio & Glossary Consolidated Results Corporate costs in total reduced on realignment to new organisation Corporate cost including group and operational corporate functions, aEBIT level, YoY ($’M) Operatio
Slide 41: Group Consolidated Results
1. FY25 Group 2. Results of Associates & JV’s 3. Debt metrics 4. Portfolio return 5. Group Portfolio & Glossary Consolidated Results Group Consolidated Results Revenue Adjusted EBITDA1,4 Adjusted EBIT1 YoY % FY25 FY25 $’M FY24 FY25 Growth2 FY24 FY25 Margin FY24 FY25 Margin Ecommerce 5 467 6 170 21%
Slide 42: aEBITDA reconciliation to aEBIT
1. FY25 Group 2. Results of Associates & JV’s 3. Debt metrics 4. Portfolio return 5. Group Portfolio & Glossary Consolidated Results aEBITDA reconciliation to aEBIT Ecommerce aEBITDA to aEBIT FY25 ($’M) To be more directly (114) comparable to global (92) (6) consumer internet peers, we’re adopting a
Slide 43: Tencent sustained high quality growth
1. FY25 Group 2. Results of Associates & JV’s 3. Debt metrics 4. Portfolio return 5. Group Portfolio & Glossary Consolidated Results Tencent sustained high quality growth Earnings model & strategic AI investment drive continued improvement in fundamentals Tencent gross profit (RMB’B)1 20% YoY Focuse
Slide 44: Improved profitability across all our associates and JV's
1. FY25 Group 2. Results of Associates & JV’s 3. Debt metrics 4. Portfolio return 5. Group Portfolio & Glossary Consolidated Results Improved profitability across all our associates and JV’s Associates share of equity accounted results1 ($’M) 6 306 FY24 FY25 +2x 5,703 YoY2 4 072 2,810 (39) (26) (9)
Slide 45: Tencent drives higher contribution to core HE by associates and JV's
1. FY25 Group 2. Results of Associates & JV’s 3. Debt metrics 4. Portfolio return 5. Group Portfolio & Glossary Consolidated Results Tencent drives higher contribution to core HE by associates and JV’s Associates’ contribution to core headline earnings1 ($’B) 42% 6,985 7 263 FY24 FY25 YoY 5 387 4,93
Slide 46: Strong debt metrics with long-dated bond maturities
1. FY25 Group 2. Results of Associates & JV’s 3. Debt metrics 4. Portfolio return 5. Group Portfolio & Glossary Consolidated Results Strong debt metrics with long-dated bond maturities Debt metrics Bond maturity profile4 ($’B) $’M FY24 FY25 Cash remitted to/generated at Holdco level: Over 20 <2 year
Slide 47: Defined capital structure guidelines inform our decisions
1. FY25 Group 2. Results of Associates & JV’s 3. Debt metrics 4. Portfolio return 5. Group Portfolio & Glossary Consolidated Results Defined capital structure guidelines inform our decisions Investment Grade Rating While our balance sheet allows significant flexibility to absorb short term fluctuati
Slide 48: IRR improvement is a priority
1. FY25 Group 2. Results of Associates & JV’s 3. Debt metrics 4. Portfolio return 5. Group Portfolio & Glossary Consolidated Results IRR improvement is a priority NAV ($’B) and IRR (%)1 iFood 28 of Ecommerce portfolio LatAm Despegar - Acquired in May 2025 so no IRR to report yet OLX Brazil 13 18% IR
Slide 49: Group portfolio companies
1. FY25 Group 2. Results of Associates & JV’s 3. Debt metrics 4. Portfolio return 5. Group Portfolio & Glossary Consolidated Results Group portfolio companies Local SA assets 43% 100% 100% Ecommerce Social & internet platforms Payments Food Delivery Classifieds Etail Edtech Ventures 23% & Fintech 96
Slide 50: Glossary and Peer Groups
1. FY25 Group 2. Results of Associates & JV’s 3. Debt metrics 4. Portfolio return 5. Group Portfolio & Glossary Consolidated Results Consolidated Results | Results of subsidiaries only, companies which the Group controls. Glossary Free cash flow | aEBITDA less adjustments for non-cash items, SBC, sp
Slide 51: For further information
For further information Visit our website | www.prosus.com or www.naspers.com Email | InvestorRelations@prosus.com