Sonae Sgps Sa · EURONEXT:SON
Sonae Sgps Sa — Sonae — FY2020 Earnings Presentation
33 slides from Sonae Sgps Sa's earnings presentation, Mar 18, 2021
Slide 1: 2020 Full-year Results
2020 Full-year Results 18™ MARCH 2021
Slide 2: Agenda
Agenda Financial performance Overview of the year
Slide 3: Overview of the year
Overview of the year
Slide 4: The last months were the biggest test
The last 12 months were the biggest test to our purpose, to our values, to our businesses...
Slide 5: In one month our lives changed
In one month our lives changed y (0 Remote work +6,000 Central structure employees doing remote work across Sonae (-100% of total _ Network traffic +70% Increase in fixed internet employees) —~ |Z Online growth ‘.... Order processing ~600% >3x Increase in online sales in Worten PT Increase in daily
Slide 6: Sonae's businesses were differently impacted
Sonae’s businesses were differently impacted HIGHLY STRESSED OPERATIONS 4 (3) Ce ete oe e OREAGEY Stores Sanaa MC Increased F online and in- ieee store demand y FASHION ii N suas Pignificant ieee leit closed N Mes % = Coy Shae and Sport Ss 2 Zag mobile traffic fees suspended Za Exits _ Decrease SEAS
Slide 7: But we remained committed to our purpose
But we remained committed to our purpose
Slide 8: We supported our people and community more than ever
We supported our people and community more than ever Bonuses to reward exceptional work in the frontline No layoff schemes in our fully controlled businesses in Portugal Community support grew 24% to €14 M Donation of thousands of goods, especially food and electronics products Financial support to
Slide 9: Important progress on the environmental front
And we made important progress in t ©) 29% co, emissions reductions* 1e environmental front (a) 73% plastic packaging recyclability OQ \ 36% women in leadership positions 39% by 2023 CLIMATE MSCI ESG RATINGS [ece| 8 | ee | soe MEN AA [Aan LEADING TOGETHER rata ade, Oe GRESB - a REAL ESTATE Tad * ok
Slide 10: We accelerated digitisation across the portfolio
We accelerated digitisation across the portfolio
Slide 11: Strong digital readiness of our businesses
Strong digital readiness of our businesses (_1 e-commerce last-mile payment = platforms delivery options 9] solutions Pick up in store Launched © Swim S00 FASHION Continente Pay Click and collect @ Pay M6 | worten | Universo Salsa dott ‘ H t hi ith 4 Drive in (shop. centres) partnership wi G Pay ——
Slide 12: Leading to more than double online sales
Leading to more than double online sales € 480M Leaders in the Portuguese online market © +120% online sales growth 12
Slide 13: We achieved important milestones in portfolio management
We achieved important milestones in portfolio management
Slide 14: Reinforced shareholding positions
Reinforced om Shareholding positions NS 2S Salsa SEES IM €136M | €63M 4
Slide 15: Active portfolio management
Active Portfolio management Sierra Prime €188M (net of dividends paid to Grosvenor) Towers sale €375M (potential to reach €550M)) S&LB transactions €50M
Slide 16: Financial performance
Financial performance 16
Slide 17: Sonae MC
Sonae MC Turnover Underlying EBITDA FCF €M €M €M HO i53 4,702 480 526 10.2% 10.2% _ dg 91 2019 2020 2019 2020 2019 2020 FY20 RESULTS 1
Slide 18: Worten
Worten Turnover Online Sales Underlying EBITDA €M €M €M pm _ at, 37 6.4% 5.2% 2019 2020 2019 2020 2019 2020 FY20 RESULTS 18
Slide 19: Sonae Fashion
Sonae Fashion Turnover Online sales Underlying EBITDA €M €M €M 392 2% _, 34h iu cS 11.4% C71% 13 Sy 3.8% 2019 2020 2019 2020 2019 2020 FY20 RESULTS 19
Slide 20: ISRG
ISRG Turnover Online sales EBITDA €M €M 660 €M 70 S_ 10.4% 48 73% 11219 L12M 20 L12M19 L12M 20 L12M19 L12M 20 FY20 RESULTS Note: Due to calendar reporting dates of JO Sports (the main shareholder of the JV), ISRG figures for the L12M ended last October 31% 20
Slide 21: Sonae Sierra
Sonae Sierra Rent Discounts | Europe Net Results NAV % €M €M 54 1384 902 -€90M from April to December Dec 19 Dec 20 “42 Portugal Average Europe 2019 2020 FY20 RESULTS
Slide 22: Sonae FS
Sonae FS Turnover Underlying EBITDA Universo card €M 3 €M Market share in credit Portugal — Cp LF ay, 5 12.8% 10 ae >400k 8 26.5% digital 23.8% clients 2019 2020 2019 2020 2019 2020 FY20 RESULTS 22
Slide 23: Sonae IM
Sonae IM Turnover Capex NAV* €M €M €M 314 271 116 115 =a 24 2019 2020 2019 2020 2019 2020 FY20 RESULTS *NAV of the active portfolio: Fair value and cash invested for AVP funds and minority stakes + consolidated stakes by market references 23
Slide 24: NOS
NOS Turnover EBITDA FCF before dividends €M €M €M 1458 — gun 603 43.9% 1% «as 147 2019 2020 2019 2020 2019 2020 FY20 RESULTS
Slide 25: Consolidated operational performance
CONSOLIDATED OPERATIONAL PERFOMANCE Turnover Underlying EBITDA Net results (Group share) €M €M €M —©F0 6,433 601 SED 593 166 ® | 71 2019 2020 2019 2020 2019 2020 FY20 RESULTS 25
Slide 26: Free cash flow
FREE CASH FLOW FCF bridge €M 220 237 Operational Cash Flow — Financial activity M&A capex Sale of assets Dividends received FCF before dividends paid FY20 RESULTS 26
Slide 27: Group leverage
GROUP LEVERAGE NET DEBT HOLDING €M LTV 1,150 47 13% 12% 2019 var 2020 2019 2020 FY20 RESULTS 21
Slide 28: Leverage of each business unit
LEVERAGE OF EACH BUSINESS UNIT SONAE MC NOS SONAE SIERRA Total Net Debt / und. EBITDA Net Financial Debt /EBITDA LTV (NET) 26% 26% ; - ie 2019 2020 2019 = 2019 2020 FY20 RESULTS 28
Slide 29: Dividend growth
DIVIDEND GROWTH Dividend per share Payout ratio € cent a 60% 54% 2015 2016 2017 2018 2019 2020 2015 2016 proposed FY20 RESULTS NAV: Payout is calculated with the consolidated direct income attributable to equity holders of Sonae. 85% 43% 2019 2020 proposed 29
Slide 30: The world will likely see structural changes
® Revolution in at New spatial and igitalisation G @ ygiene The World ee will likely see STRUCTURAL CHANGES 1 From Increased [a= efficiency to relevance and $803 resiliency in awareness of supply chains ESG issues &
Slide 31: Going forward: stronger, faster, better
STRONGER Growth and benchmark profitability Going forward FASTER Agility Digital Innovation BETTER Social and environmental value 31
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Slide 33: Contacts
7 Fa a at Ed fo} I CONTACTS Patricia Vieira Pinto Head of Investor Relations pavpinto@sonae.pt Tel: + 351220104794 PROPERTY Sonae Lugar do Espido Via Norte 4471-909 Maia, Portugal Tel. + 35122 948 7522 swww.sonae.pt March 18", 2021