Redcare Pharmacy N.V.

Earnings Release • May 4, 2022

SEVENUM, 05 MAY 2022

LIVE FROM OUR HEADQUARTERS IN SEVENUM.

STEFAN FELTENS, CEO. JASPER EENHORST, CFO.

2

TODAY'S AGENDA.

FINANCIAL PERFORMANCE.

UPDATE ON BUSINESS AND STRATEGY.

FINANCIAL PERFORMANCE.

HIGHLIGHTS.

KEY FACTS

Q2

2022

• DOUBLE-DIGIT GROWTH IN EVERYTHING-BUT-RX CONTINUES.

UP 15%, ON TRACK FOR FULL-YEAR GUIDANCE WITH SIGNIFICANT MARKET SHARE GAINS. RX SALES STABLE QUARTER-OVER-QUARTER.

• ADJ. EBITDA EUR -4M.

MARGIN AT -1.4%, 2.1PP BETTER THAN PRIOR Q4. ON TRACK FOR FULL YEAR GUIDANCE –OFFSETTING IMPACT OF A MORE CHALLENGING ENVIRONMENT.

• OPERATING CASH FLOW EUR +24M.

CONTINUED FAVOURABLE WORKING CAPITAL MOVEMENTS.

• RECORD CUSTOMER SATISFACTION AND HIGH GROWTH OF NEW CUSTOMERS CONTINUED.

NPS 73, DRIVEN BY SUCCESSES FROM OUR NEW FACILITY. ACTIVE CUSTOMER BASE 8.3M: UP 0.4M IN Q1 AND 1.5M YOY.

• E-RX GEMATIK TEST ACCELERATES.

APPROACHING 50% OF THE REQUIRED 30,000 SUCCESSFUL ORDERS.

• ACQUISITION OF QUICK-COMMERCE FIRST A.

DELIVERY WITHIN 30 MINUTES IN COOPERATION WITH LOCAL PHARMACIES.

KEY FINANCIALS. DACH / EVERYTHING-BUT-RX +10%, INTERNATIONAL UP +30%.

ACTIVE CUSTOMER BASE: FAST GROWTH WITH HAPPY CUSTOMERS CONTINUES. RECORD LEVEL OF NET PROMOTER SCORE.

EVERY WEEK, 7 TO 8 MILLION VISITS TO OUR WEBSITES AND APPS. FAST GROWTH OF TRAFFIC CONTINUES AT AROUND 30%.

STRONG ORDER GROWTH. MORE THAN 6M ORDERS IN ONE QUARTER FOR THE FIRST TIME.

KEY FINANCIALS. SALES EUR 305M, ADJ. EBITDA MARGIN -1.4%. WITHIN FULL YEAR GUIDANCE.

Adjusted numbers in million of euros	Q1 2021	Q1 2022	Better/(Worse)	Q4 2021	Q1 2022	Better/(Worse)
Sales	284	305	7.3%	288	305	5.8%
Gross profit margin	25.6%	26.6%	1.0 pp	24.6%	26.6%	2.0 pp
Selling & distribution margin	-20.7%	-25.0%	(4.3) pp	-25.1%	-25.0%	0.1 pp
Administrative costs margin	-2.9%	-2.9%	0.0 pp	-3.0%	-2.9%	0.1 pp
Adj. EBITDA	6	-4	(10)	-10	-4	6
Adj. EBITDA margin	2.0%	-1.4%	(3.4) pp	-3.5%	-1.4%	2.1 pp
EBITDA	3	-11	(14)	-35	-11	25

Adjustments in 2022 EUR 6.2M: non-cash employee stock options costs, one-off external costs related to projects and acquisitions, EUR 4.3M from IFRS3 accounting of the business acquisitions in 2021.

KEY FINANCIALS. GROSS MARGIN IMPROVEMENTS CONTINUE, UP 1.0 PP.

KEY FINANCIALS. S&D 25% OF SALES CYCLING LAST YEAR'S FULL LOCK-DOWN QUARTER.

KEY FINANCIALS. ROBUST CASH POSITION.

UPDATE ON STRATEGY AND BUSINESS.

E-RX IN GERMANY FURTHER PROGRESSING.

• CONCLUSION OF GEMATIK TEST PHASE WHEN PREDEFINED QUALITY CRITERIA ARE MET.
• 13,167 OF 30,000 E-PRESCRIPTIONS ISSUED*.
• TEST PHASE PROBABLY FINISHED IN Q3.

*) As per 24 April 2022.

ENTRY INTO THE GROWING QUICK-COMMERCE MARKET.

ACQUISITION OF FIRST A.

• INSTANT DELIVERY OF ORDERS WITHIN 30 MINUTES IN CO-OPERATION WITH LOCAL BRICK-AND MORTAR PHARMACIES.
• COVERING ALL RELEVANT USE-CASES IN THE ONLINE-PHARMACY SPACE.
• OPTIMISING OUR E-RX PROPOSITION.

COMPLEMENTING SHOP APOTHEKE EUROPE'S CUSTOMER-CENTRIC PLATFORM STRATEGY.

GUIDANCE CONFIRMED.

FULL YEAR 2022 FOR OUR ONGOING BUSINESS.

• 15 25% GROWTH OF NON-RX.
• RX SALES NO GUIDANCE FOR 2022, BUT PAPER-RX DECLINE BOTTOMED-OUT.
• ADJ. EBITDA MARGIN -1.5% TO +1.5%.

MID- TO LONG-TERM:

• ADJ. EBITDA MARGIN IN EXCESS OF 8%.

* Ongoing business: as at the time of issuing the guidance in March 2022.

* Rx concerns the German prescription medications; Rx sales of other countries are in Non-Rx.

THANK YOU FOR YOUR TIME.