home24 SE

Earnings Release • Jan 25, 2022

home24 FY 2021 Trading Update

January 25th 2022

Highlights of our preliminary FY 2021 results

home24 reports 2021 revenue of EUR 615m, 79% above 2019, having grown by EUR 223m in revenue in Europe alone within two years.

2021 growth of 27% on Group level and 29% in Europe, on top of strong 2020, in a difficult home & living market (retail in DE down YoY).

Proving the profitable growth strategy to take market share, 2021 ends with positive adj. EBITDA as planned, and 8%-points above 2019.

Year end cash position of EUR 131m, ample room for further growth, Butlers acquisition structured accordingly, closing 1.4.2022.

home24 group incl. the Butlers acquisition would result in combined pro forma 2021 revenues of > EUR 700m and adj. EBITDA of > 20m¹ , even before synergies. Acquisition improving profitability profile and accelerating major growth levers.

home24 now with 2.3m active customers, having added c. 800k in the last two years. The 40m Butlers visitors p.a. will add to that base we will actively pursue.

home24 at a glance

3

Our mission:

to be the online destination in Home & Living for everyday people

Global Home & Living market1	> €560bn
home24 footprint2 Home & Living market	> €110bn
home24 footprint2 Online Home & Living market	> €11bn

€0.5bn3 (~4-5% mkt. share)

Huge addressable

online penetration

market with low

All figures preliminary and unaudited Source: Euromonitor International 1. Home & Living market defined as Euromonitor Passport: Home and Garden categories "homewares" and "home furnishings" (2019).

1. home24 markets consist of Germany, France, Italy, the Netherlands, Belgium, Austria, Switzerland and Brazil

2. home24 revenue 2020

Demographics, changes in consumer habits and technology boost online penetration further

Source: Euromonitor International (2019); Management Estimates

1. Consists of home24's target markets Germany, France, Italy, the Netherlands, Austria, Belgium, Switzerland and Brazil.

We are a leading pure-play Home & Living e-commerce platform in continental Europe and Brazil

All figures preliminary and unaudited 1 . Including VAT, for Europe only. 2 Share of Group revenue.

Home & Living mass market has category specific challenges which we have mastered, creating significant barriers to entry

• Products with high basket size / AOV and without established consumer brands in mass market
• 2
• Identify and source relevant assortment in a market with no brands and abundant product variety
• Inventory management: make bulky and high value items available at short delivery times and still remain working capital neutral 3 has cracked the code
• 4
• Scalable online demand largely in short tail generic search without brands

Extremely complex logistics and delivery for multi-component and heavy/bulky products

We have built the best-in-class platform to drive profitable growth

behaviour

Against a negative growth in the retail market in DE, continued high double digit growth on back of strong 2020 comparables

home24 has multi-dimensional drivers for sustainable long-term growth

STRUCTURAL GROW	+	MARKET PENETRATION	+	PLATFORM DEVELOPMENT			+	MARKET EXPANSION
Benefit from increasing online penetration in mass market		Accelerate through further international roll-out of "go-to-market" approach		Enhance product offering in existing categories	Introduce new categories e.g. to drive purchase frequency	Enhance shopping journey to increase brand loyalty	Adopt new technologies to foster competitive advantage		Expand into new geographies and capitalize on high market fragmentation

We are uniquely positioned to explore the massive growth opportunity in Home & Living e-commerce

FY 2021 Financial Update

home24 ends 2021 79% above 2019, proving profitable growth strategy and taking massive market share

All figures preliminary and unaudited.

Group & LatAm growth numbers displayed in constant currency

¹EBITDA adjustments contain next to share based payments and Mobly IPO costs ~EUR 0.6m transaction costs from the Butlers acquisition

home24 shows strong long term growth trajectory with continuous market share gains

While the overall retail home furnishings market was broadly flat in recent years and showed YTD Nov 2021 in DE a negative development…

home24 continues to gain market share, and in FY 2021 grows on top of strong comparables

All figures preliminary and unaudited. home24 revenue indexed to Q4 2017.

1 Retail home furnishings revenue indexed to Q4 2017. Federal Statistical Office of Germany data for economic sector "Retail sale of home furniture" ("Einzelhandel mit Wohnmöbeln"). Dec 2021 not yet published, therefore AVG YoY growth as of Oct & Nov 2021 assumed for Dec 2021

Further GOV growth of 18% like for like in 2021 signals robust online demand even in normalizing market environment

GOV in EURm, Active customers and Total gross orders in k, Average order value in EUR

Group	FY-21	Europe	FY-21	LatAm
GOV	861	GOV	706	GOV
GOV Growth CC	15% (18% LfL)1	GOV Growth	17% (21% LfL)1	GOV Growth CC
Total Gross Orders	3,298	Total Gross Orders	2,002	Total Gross Orders
Total Gross Orders Growth	2%	Total Gross Orders Growth	14%	Total Gross Orders Growth
Average Order Value	261	Average Order Value	353	Average Order Value
Average Order Value Growth	11%	Average Order Value Growth	3%	Average Order Value Growth
Active Customers	2,276	Active Customers	1,383	Active Customers
Active Customers Growth	5%	Active Customers Growth	16%	Active Customers Growth

All figures preliminary and unaudited

Growth of +27% brings FY 2021 revenue to EUR 615m, a 79% or EUR 244m increase compared to FY 2019 pre covid level

Revenue in EURm and Growth YoY in %

Group

Q4 group revenues kept on previous year record level despite normalized/non-Covid supported market environment

Europe

EU alone with FY 2021 revenues > EUR 0.5bn and FY growth rate of +29% gaining significant market share compared to ~-7% retail market decline (in DE)¹

Latin America

Solid Q4 in weak market environment bringing FY growth rate to +21%, while overall market was growing around inflation levels2

All figures preliminary and unaudited. Group & LatAm growth numbers displayed in constant currency

1 Based on the Federal Statistical Office of Germany data for economic sector "Retail sale of home furniture" ("Einzelhandel mit Wohnmöbeln")

2 Based on the Brazilian Institute of Geography and Statistics data for furniture retail market

Adj. EBITDA margin remains positive and in line with guidance confirming strategy of profitable investments into sustained growth

Adj. EBITDA in EURm and in % of Revenue

Group

Overall broadly stable EBITDA margin throughout 2021 apart keeping FY adj. EBITDA margin in envisaged corridor of 0-2%

Europe

Structural profitability intact despite pressure on Gross Margin supported by low return rates, strong delivery performance and high customer satisfaction levels

Latin America

Profitability affected by post IPO investments, such as the new warehouse, but also due to pressure on Gross Margins

Group cash flow in EURm Cash position of EUR 131m significantly improved versus prior year

Including the Mobly IPO proceeds the Group cash position increased to EUR 131m in 2021.

On back of the strong cash position we discontinued the anticipation of receivables from installment purchases in the LatAm segment (but can re-initiate at any time), leading to a one time Working Capital increase.

Q4 increased the cash position slightly compared to Q3 mainly through a positive cash flow from operating activities of EUR 10m.

Introduction to Butlers

The Butlers acquisition adds massive strategic potential – on top of home24's core profitable 2021 EUR 615m revenue base

Online & furniture meets home accessories & retail expertise, portfolios complement each other perfectly to create inspirational home environments

Butlers is one of the most renowned branded retailers of home accessories in continental Europe

All figures preliminary and unaudited

1. Based on Local GAAP, not normalized for store closures and customer access restrictions in 2021 2. Including VAT, Retail and Online respectively

Butlers has uniquely positioned itself with distinctive and innovative products at affordable price levels

Products designed by Butlers

• household goods
• table decorations
• home accessories
• home textiles
• gifts
• etc.

Brand Values

Butlers develops more than 3000 new articles a year to continuously inspire & surprise their customers

1 2 3 4 5

Butlers operates four profitable sales channels, and sees a continuously increasing online share - with minimum marketing

home24 incl. the Butlers acquisition would result in combined 2021 revenues of > EUR 700m and adj. EBITDA of > 20m

Butlers results in 2021 not normalized due for store closures and access restrictions

FY 2021	Butlers Local GAAP (preliminary)1	h24 Group Pro forma combined IFRS adj. for rent (IFRS 16) (preliminary)
Revenue	93	615	708
Gross Profit Margin	63%	43%	46%
Fulfillment Expense Ratio	8%	17%	16%
Profit Contribution Margin	55%	26%	30%
Marketing Expense Ratio	2%	16%	14%
Adjusted EBITDA	5-6	1	>20
Adjusted EBITDA Margin	5%-6%	0%	>3%

Further sales and profitability stimulus expected in 2022 following the completion of the Butlers acquisition

Both Butlers and home24 Europe to benefit significantly from revenue and EBITDA synergies

Synergie potential	EBITDA	Revenue
Listing Butlers online assortment on home24	◑	◑
40m visitors in Butlers retail stores as customer acquisition channel	◑	◕
Listing selected home24 private label articles at Butlers	◑	◑
home24 private label push on smaller items	◔	◔
Online marketing boost for Butlers webshop	◔	◔
Joint CRM activities	◕	◕

The Butlers acquisition also fuels major home24 growth levers

home24 in strong position for future

• home24 delivered strong growth despite the market environment, while remaining adj. EBITDA profitable in line with guidance.
• We remain in a strong position to continue taking market share - even more so post Butlers acquisition with FY 2021 pro forma combined >EUR 700m revenue base. Higher relevance of EU segment with c. 85% of Group revenues after Butlers deal closing.
• Profitability profile strengthened through Butlers acquisition with clear path towards sustainably positive cash flows.
• The effects of the strong prior-year base and supply-chain headwinds will influence margins and growth rates well into the second quarter of 2022.
• FY2022 guidance including Butlers acquisition consolidation to be detailed with annual report on March 31st, with certainty of transaction closing on 1.4.
• Beyond 2022, we remain focused on best exploiting the decade+ growth opportunity without jeopardizing profitability.

Financial calendar

Upcoming events

DATE	EVENT
March 16th	Berenberg EU Opportunities Conference 2022
March 31st	Jefferies Pan-European Mid-Cap Conference
March 31st	Publication annual financial report
May 11th	Publication quarterly financial report (call-date Q1)
May 23rd	Equity Forum - German Spring Conference 2022
June 14h	Annual General Meeting

KPI definitions

KPI	DEFINITION
Gross order value [in EUR]	Defined as the aggregated gross order value of the orders placed in the respective period, including VAT and without factoring in cancellations and returns as well as subsequent discounts and vouchers
Number of active customers [#]	Defined as the number of customers that have placed at least one non-canceled order in the 12 months prior to the respective date, without factoring in returns
Total gross orders	Defined as the number of orders placed in the relevant period, regardless of cancellations or returns
Average order value [in EUR]	Defined as the aggregated gross order value of the orders placed in the respective period, including VAT, divided by the number of orders, without factoring in cancellations and returns as well as subsequent discounts and vouchers
Growth at constant currency (CC)	Defined as growth using constant BRL/EUR exchange rates from the previous year
Adjusted EBITDA [in EUR]	EBITDA defined as the sum of operating result (EBIT) and depreciation and amortization. Adjusted for share-based compensation expenses and costs incurred in connection with the listing of existing shares and other one-off expenses, mainly service fees for legal and other consulting services associated with the IPO

Disclaimer

This presentation has been prepared by home24 SE (the "Company"). All material contained in this document and the information presented is for information purposes only and does not purport to be a full or complete description of the Company and its affiliated entities. This presentation must not be relied on for any purpose.

This presentation contains forward-looking statements. These statements are based on the current views, expectations, assumptions and information of the management of the Company. Forward-looking statements should not be construed as a promise of future results and developments and involve known and unknown risks and uncertainties. Various factors could cause actual future results, performance or events to differ materially from those described in these statements, and neither the Company nor any other person accepts any responsibility for the accuracy of the opinions expressed in this presentation or the underlying assumptions. The Company does not assume any obligations to update any forward-looking statements.

This presentation contains certain financial measures that are not calculated in accordance with IFRS and are therefore considered "non-IFRS financial measures". The management of the Company believes that these non-IFRS financial measures used by the Company, when considered in conjunction with, but not in lieu of, other measures that are computed in accordance with IFRS, enhance an understanding of the Company's results of operations, financial position and cash flows. A number of these non-IFRS financial measures are also commonly used by securities analysts, credit rating agencies and investors to evaluate and compare the periodic and future operating performance and value of other companies with which the Company competes. These non-IFRS financial measures should not be considered in isolation as a measure of the Company's profitability or liquidity, and should be considered in addition to, rather than as a substitute for, income data or cash flow data prepared in accordance with IFRS. In particular, there are material limitations associated with the use of non-IFRS financial measures, including the limitations inherent in determination of each of the relevant adjustments. The non-IFRS financial measures used by the Company may differ from, and not be comparable to, similarly-titled measures used by other companies.

Certain numerical data, financial information and market data, including percentages, in this presentation have been rounded according to established commercial standards. Furthermore, in tables and charts, these rounded figures may not add up exactly to the totals contained in the respective tables and charts.