Slide 1: Q3 2025 Results
Q3 2025 RESULTS TOBIAS MEYER, GROUP CEO MELANIE KREIS, GROUP CFO DHL Group Bonn, November 6, 2025
Slide 2: Highlights
HIGHLIGHTS Cost and yield management Short-term: Effective cost and yield management drive yoy increase effective – strong cash in Q3 Group EBIT – De Minimis effect so far successfully moderated generation allows for balance and covered by confirmed guidance of growth and returns Long-term: Targeted
Slide 3: Top-Line Growth Accelerators: Geographic Tailwinds
TOP-LINE GROWTH ACCELERATORS GROWTH ACCELERATORS: GEOGRAPHIC TAILWINDS Global Connectedness Tracker confirms globalization intact while changing towards new trading patterns Global Trade: Average Distance and Percent Intra-Regional 60% 5,100 Average Distance Average distance rose to 5,000 (km, right
Slide 4: Global Trade Diversification Visible in DHL Numbers
GLOBAL TRADE DIVERSIFICATION VISIBLE IN DHL NUMBERS Supply chain shifts in line with Geographic Tailwinds are happening DHL Express Time Definite International Key observation on global trade in Q3 By destination, Billed Weight Q3 2025 Q3 yoy • No directional change in trade momentum vs Q2 (Q2: yoy)
Slide 5: Q3 2025: Express
DHL Express Q3 2025: EXPRESS Successful focus: 5th quarter of EBIT growth despite volume decline driven by effective cost and yield actions DHL Express Cost management Exemplary cost actions, Q3 2025 yoy - Active capacity management across the network -8.5% -5.8 % - Structural change measures under
Slide 6: Profitability Accelerators: Fit for Growth
PROFITABILITY ACCELERATORS PROFITABILILITY ACCELERATORS: FIT FOR GROWTH Significant contributions from structural network changes to yoy EBIT increase in P&P P&P Germany Examples A/B Steering Joint Delivery Productivity improvement Ongoing rollout towards and increased asset ~90% by 2030 utilization
Slide 7: Profitability Accelerators: Digital by Default
PROFITABILITY ACCELERATORS PROFITABILILITY ACCELERATORS: DIGITAL BY DEFAULT Agentic AI Use Cases at DHL Group Examples HR Customer Service Customs Service Logistics Frontline recruiting Query Handling Declaration process Dispatch calls Streamlining hiring journey Automating incoming Performing pre-w
Slide 8: Growth Accelerators: Key Q3 Actions
GROWTH ACCELERATORS GROWTH ACCELERATORS: KEY Q3 ACTIONS Ongoing investments and sharpening focus on future growth Examples Organic Targeted Strengthened Investments M&A management focus Opening of new Express hubs, Merger of Evri and Dedicated regional e.g. Barcelona, Helsinki DHL eCommerce UK leade
Slide 9: CEO Summary
CEO Summary Clear roadmap to manage Short-term: Protect EBIT & cash flow in current environment and short-term volatility and optimize operating leverage towards accelerated growth accelerate sustainable - Cyclical capacity flex highly effective growth - Structural benefit from Fit for Growth measur
Slide 10: Group of Strong Divisions
GROUP OF STRONG DIVISIONS Q3 2025 Reported Group EBIT +8% yoy to €1,477m; excl. non-recurring items: +10% yoy DHL Global Post & Parcel DHL Express Forwarding, Freight DHL Supply Chain DHL eCommerce Germany €692m (+1%) €195m (-30%) €278m (+2%) €176m (+>100%) €218m (+27%) TDI shipments/day -11% Sequen
Slide 11: Q3 2025: Non-Recurring Effects
Q3 2025: NON-RECURRING EFFECTS in €m +10% yoy Positive P&P Q3 2024 EBIT One-Off Q3 2024 EBIT excl. Q3 2025 EBIT excl. Express eCommerce GFF, SC, GF Q3 2025 EBIT reported Q3 2024 non-recurring items non-recurring items reported -29 -54 123 70 Of which: Of which: Of which: • Legal • UK decon. • GFF €-
Slide 12: P&L Summary
P&L SUMMARY Selection of most relevant line items Key observations in €m Q3 2024 Q3 2025 yoy in % • Revenue development driven by Revenue 20,592 20,128 (2.3%) macroeconomic environment, freight rates Purchased goods and services (10,673) (10,047) 5.9% and FX • Purchased goods and services are a Staf
Slide 13: Cash Flow Statement Summary
CASH FLOW STATEMENT SUMMARY Selection of most relevant line items Key observations in €m Q3 2024 Q3 2025 yoy in % • Strong cash conversion from EBIT to OCF EBIT 1,372 1,477 7.6% before working capital • Working capital inflow mainly driven by Operating cash flow before changes in WC 1,912 2,240 17.2
Slide 14: Commitment to Attractive Shareholder Returns
COMMITMENT TO ATTRACTIVE SHAREHOLDER RETURNS Strong FCF generation and balance sheet allow for recurring returns beyond regular dividend payments Cancellation of 50m shares Share Buyback, €4.4bn ~€1.6bn * planned for November 2025 in €bn, rounded * ~1.3 ~1.0 ~1.0 ~1.0 ~1.0 ~0.9 2016/17 2021 2022 202
Slide 15: DHL Group Guidance: Unchanged
DHL GROUP GUIDANCE: UNCHANGED FY 2025 target, in €bn ≥6.0 ~3.0 3.0-3.3 Group EBIT FCF excl. Net M&A Gross Capex excl. leases ≥5.5 ~1.0 ~-0.4 28-30% DHL P&P Germany Group Functions Tax Rate ▪ Base assumption: continued muted macro environment & current status of trade regulation incl. US De Minimis ▪
Slide 16: CFO Summary
CFO Summary Cost and yield management Q3 performance: Increase in Group EBIT and cash flow, supported by effective – strong cash highly effective cost and yield measures – guidance confirmed generation allows balance of growth and returns Cash Flow: Strong cash generation driven by resilient operati
Slide 17: How can DHL benefit from the use of AI?
How can DHL benefit from the use of AI? New AI-based IR Research Assistant provides Zoom image direct access to five years of company + disclosures via natural language queries Q3 2025 RESULTS | DHL GROUP INVESTOR RELATIONS | 6 NOVEMBER 2025
Slide 18: Appendix
APPENDIX
Slide 19: Q3 2025: Global Forwarding, Freight
DHL Global Forwarding, Freight Q3 2025: GLOBAL FORWARDING, FREIGHT No directional change in trade momentum; DGF EBIT improved from Q2 levels • Largely unchanged volume momentum +6% Q3 2024 0% vs Q2 Q3 2025 530 562 445 444 • AFR GP/t holding up well - regional Air Freight flows show ongoing supply ch
Slide 20: Q3 2025: Supply Chain
DHL Supply Chain Q3 2025: SUPPLY CHAIN Delivered organic revenue growth and strong bottom-line profitability despite market headwinds 6.3% +6% • Organic revenue growth of 1.3% despite market headwinds Q3 2025 Q3 2025 Revenue growth, excl. FX • Strong contribution of new business gains and start-up E
Slide 21: Q3 2025: eCommerce
DHL eCommerce Q3 2025: ECOMMERCE Largest out-of-home network in Europe with >150k locations • 13% volume growth in access point volumes YTD, building on >20% growth p.a. in 2023 and 2024 Total number of access points in Europe (incl. partners) Lockers • Positive and profitable development in Service
Slide 22: Q3 2025: P&P Germany
Post & Parcel Germany Q3 2025: P&P GERMANY Successful structural transformation ongoing; strong EBIT growth shows effective cost actions Q3 2024 • Strong EBIT increase driven by Parcel +12% growth, price increases and effective cost Q3 2025 +6%* measures - amid slower mail decline in Q3 • Unchanged
Slide 23: Q3 2025: Overview Non-Recurring Items
Q3 2025: OVERVIEW NON-RECURRING ITEMS in €m EXP GFF SC eC P&P GF GROUP EBIT 692 195 278 176 218 (82) 1,477 Cost of Change (10) (14) (13) (37) M&A-related* 5 (7) 178 176 Other** (49) (42) (8) (99) EBIT excl. non-recurring items 746 209 285 53 218 (74) 1,437 * EXP: JV deconsolidation effect (Polar Air
Slide 24: Disclaimer
Disclaimer This presentation contains certain statements that are neither reported results nor other historical information. These forward- looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking state