Bike24 Holding AG

Investor Presentation • Jun 30, 2021

COMPANY PRESENTATION

JUNE 2021

DISCLAIMER

This presentation (the "Presentation") contains information regarding Bike24 Holding AG, a German stock corporation (Aktiengesellschaft) (the "Company") and its direct or indirect subsidiaries (together "Bike24"). It is being provided for informational purposes only and should not be relied on for any purpose. The Presentation does not purport to be a full or complete description of the Company or Bike24. The information in this Presentation is of preliminary and abbreviated nature and may be subject to updating, revision and amendment, and such information may change materially. None of the Company nor any of its directors, officers, employees, agents, affiliates or advisers or any other person undertakes or is under any duty to update this presentation or to correct any inaccuracies in any such information which may become apparent or to provide you with any additional information.

The following Presentation and discussion may contain forward-looking statements. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes," "estimates," "anticipates," "expects," "intends," "may," "will" or "should" or, in each case, their negative, or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this Presentation and include statements regarding Bike24's intentions, beliefs or current expectations concerning, among other things, Bike24's prospects, growth, strategies, the industry in which Bike24 operates and potential or ongoing acquisitions. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Bike24 cautions you that forward-looking statements are not guarantees of future performance and that the development of Bike24's prospects, growth, strategies, the industry in which Bike24 operates, and the effect of acquisitions on Bike24 may differ materially from those made in or suggested by the forward-looking statements contained in this Presentation. In addition, even if the development of Bike24's prospects, growth, strategies and the industry in which Bike24 operates are consistent with the forward-looking statements contained in this Presentation, those developments may not be indicative of Bike24's results, liquidity or financial position or of results or developments in subsequent periods not covered by this Presentation.

The Presentation only speaks as of its date. Bike24 undertakes no obligation, and does not expect to publicly update, or publicly revise, any forward-looking statement, whether as a result of new information, future events or otherwise.

All subsequent written and oral forward-looking statements attributable to Bike24 or to persons acting on Bike24's behalf are expressly qualified in their entirety by the cautionary statements referred to above and contained elsewhere in this Presentation.

All statements in this Presentation attributable to third party industry experts represent the Company's interpretation of data, research opinion or viewpoints published by such industry experts, and have not been reviewed by them. Each publication of such industry experts speaks as of its original publication date and not as of the date of this document. Nothing that is contained in this Presentation constitutes or should be treated as an admission concerning the financial position of the Company and/or Bike24.

OUR MISSION:

Bike24 creates an ecosystem for the fast -growing community of bike enthusiasts and is an enabler of green mobility

ESG AT THE CORE

Note(s): (1) Internals and OC&C analysis; (2) Number of customers who have purchased at least one item in our web shop after cancellations in the twelve months immediately preceding the relevant period end date and who have ordered at least once before that in the past; (4) Refers to new customers + existing customers; (5) AOV = Average Order Value; Source(s): OC&C analysis, Company information

Significant growth

MARKET ENVIRONMENT

Note(s): ¹PAC refers to parts, accessories, and clothing

THE MARKET IS SPLIT INTO PAC AND BIKE SEGMENTS

German cycling market

Note(s): ¹ PAC refers to parts, accessories, and clothing Source(s): OC&C analysis; Projections based on company information

GERMANY IS THE KEY CONTRIBUTOR TO GROWTH…

Note(s): ¹ PAC refers to parts, accessories, and clothing Source(s): NPD, ZIV, OC&C Consumer Survey, OC&C analysis; Projections based on company information

…DRIVEN BY INCREASING WEIGHT OF ONLINE CHANNEL

The German bike market(1)

Growing market share in German online PAC

Note(s): Data shown relates to market share in Germany. (1) Includes traditional bikes, eBikes and PAC (parts, accessories and clothing); (2) Others includes longer tail online retailers as well as generalist stores Source(s): OC&C analysis, Company information

CONSISTENTLY INCREASED SHARE IN FRAGMENTED BIKE MARKET

Sustainability & CO² Reduction Health & Fitness

MEGATRENDS

Willingness to spend of target customers

Bike24 focus

Source(s): Company information

BIKE24 TARGETS THE HIGHER VALUE CUSTOMER GROUPS…

"THE DIE HARD" "THE GEAR HEAD"

"THE URBANIST" "THE EXPERIENCE SEEKER"

…WITH A FOCUS ON ENTHUSIASTS

OUR SECRET SAUCE

Note(s): Range Analysis – No. of Products and Brands (Size of Bubble = Total No. of Products); Figures relate to cycling products only; # of products includes product and colour SKUs, but doesn't include size SKU's Source(s): OC&C analysis (online store checks from April 2021)

BIKE24 HAS A BROAD AND DEEP PRODUCT RANGE

~92% of offered products in stock

55 multilingual in-house agents

>80% products availability for same day

shipping Bike advice from enthusiast to enthusiast

FOCUS ON SERVICE QUALITY AND AVAILABILITY

>120 robots >100,000 bins 81% of orders

Source(s): Company information

fully automated in Autostore

STATE-OF-THE-ART WAREHOUSING AND LOGISTICS

Note(s): (1) Other revenue includes shipping and store revenues Source(s): Company information

CONTINUOUS MONETIZATION

We are highly focused on PAC… …while optimizing our cross-selling abilities

Very trustworthy and excellent service. Will shop again!

Best German bike e-commerce shop

5 star customer experience

Note(s): NPS = Net promoter score Source(s): Company information, OC&C Analysis based on survey among existing/ previous Bike24 customers

HIGHE NPS OF 77%

Note(s): Full year audited financials, quarterly unaudited financials; 2018 and 2019 financials were prepared for the Peleton MidCo 2 GmbH; 2020 financials were prepared for the REF Bike Holding GmbH Source(s): Company information

CONTINUOUS TOP LINE GROWTH AND PROFITABILITY IMPROVEMENTS

CLEAR BUILDING BLOCKS FOR FUTURE GROWTH

OPERATIONAL EXCELLENCE IS KEY TO FURTHER IMPROVE CUSTOMER SATISFACTION AND UNIT ECONOMICS

EVENT-DRIVEN SALES INITIATIVES

Source(s): Company information

Excellence

STATE OF THE ART UX TO KEEP THE ENTHUSIAST SATISFIED AND ATTRACT AN EVEN BROADER AUDIENCE ²⁴

TRADITIONAL & EBIKES OFFER A UNIQUE GROWTH OPPORTUNITY FOR BIKE24

Bike24's traditional bike revenue Bike24's eBike revenue

Source(s): Company information

Traditional & eBikes

BIKE24 EXHIBITS SIGNIFICANT GROWTH MOMENTUM…

(in €m)

ONGOING LOCALIZATION OFFERS A SIGNIFICANT GROWTH LEVER FOR BIKE24

PROVEN PLAYBOOK TO BECOME THE CATEGORY LEADER IN NEW GEOGRAPHIES ²⁸

FIRST WAVE MARKETS:

€4.6BN(1) OPPORTUNITY