Inpost S.A.

Earnings Release • Jan 7, 2025

PRESS RELEASE 7 January 2025

InPost Group delivers over 1 billion parcels in 2024

Europe's leading e-commerce logistics enabler InPost Group achieved record-high volumes in Q4 2024 and for the full year 2024. This performance was driven: in Poland mainly by fashion segment and SME merchants as well as marketplaces; in Mondial Relay by growth in the B2C segment; and in the UK by rapid network expansion, coupled with improvement in logistics.

Q4 2024: Peak season hit new highs

InPost Group has once again successfully performed the peak season, handling a total of 322.1 million parcels in Q4 2024, marking a 20% YoY increase. On the record peak day, the Group served almost 14 million parcels in Europe.

In Poland, InPost experienced a continued increase in demand for both APM and to-door services, resulting in record-high volumes of 209.9 million parcels, 20% YoY increase in Q4 2024. InPost outperformed prior Q4 2024 volume estimates thanks to very strong SME merchants and the fashion industry, while domestic and international marketplaces also contributed positively. Volumes were further boosted by guaranteed pre-Christmas delivery and superior logistics quality KPIs.

In Q4 2024, Mondial Relay delivered 77.7 million parcels, marking a 10% YoY increase. This growth was primarily driven by the B2C segment, which saw a 28% YoY rise. This strategically important sector allows us to further diversify from C2C volume. Additionally, a growing portion of Mondial Relay volumes is being handled through lockers; in Q4 2024, APM volume increased by over 80% YoY.

In the UK, InPost delivered 27.2 million parcels in Q4 2024, marking a significant 58% YoY increase. This strong quarterly volume growth was enabled by our materially enhanced logistics operations and significant network expansion. Our network in the UK is currently operating at over 100% capacity on average, indicating substantial room for growth in the number of APMs going forward.

FY 2024: Surpassing 1 billion parcels per year

During 2024, the Group's parcel volume exceeded the 1 billion mark for the first time ever, reaching 1,091.6 million parcels, which represents a 22% increase compared to FY 2023. In every market, including the key geographies of Poland, France and the UK, we significantly outpaced the overall growth of the e-commerce market.

In Poland, InPost delivered 709.3 million parcels in 2024, a 20% YoY increase, mainly driven by SME merchants, the fashion segment, as well as domestic and international

marketplaces. Mondial Relay contributed significantly with a volume of 266.6 million parcels, marking an 11% YoY increase, driven primarily by 26% growth in the B2C sector. Mondial Relay volume delivered to APMs increased by 103% YoY. In the UK, InPost delivered 93.2 million parcels in 2024, doubling 2023 volumes.

Network: New milestone, more than 11k APMs deployed

The Group's out-of-home network continued to expand to over 82,000 locations, with APMs accounting for 57% of these points. In 2024, we deployed a record number of APMs, adding over 11,500 machines, and ending the year with 46,977 APM locations (+33% YoY). We have maintained our #1 position in terms of the locker network in Poland, France and the UK. In Spain, Portugal, and Italy, we doubled the number of APMs, significantly increasing our visibility and market presence.

In Poland, InPost's APM network expanded by 15% YoY to over 25,000 machines. The density of InPost APMs within a 7-minute walking distance reached 64% overall and almost 90% in cities. InPost remains the favourite brand for users in Poland, with 93% of them pointing at InPost APM as their most preferred delivery option.

At Mondial Relay, we expanded our out-of-home network by 18%, reaching over 31,000 locations. We grew our network of lockers by adding nearly 4,000 APMs; concluding the year with a total of over 9,200 machines.

In the UK, InPost strengthened its leadership position by ending 2024 with over 13,000 OOH points. In 2024, we expanded our network of lockers by almost 3,000 machines to over 9,200. In the UK we remain focused on building density of network and improving user experience by adding new services and features for merchants and customers.

Rafał Brzoska, CEO, commented:

"2024 has been another milestone for InPost Group, exceeding our expectations from the beginning of the year across all our markets. We set new records in both volumes delivered and network expansion. For the first time ever, our total volume surpassed 1 billion parcels and APM deployment exceeded 11,000 machines.

We concluded the year with another successfully managed peak season, handling a record almost 14 million parcels on our busiest pre-Christmas day. In Poland, our benchmark market, InPost was again the only logistics provider that guaranteed delivery of parcels until the very last moment on the Christmas Eve.

Last year, we strengthened our market leadership in Poland with exceptional performance. We have further expanded our network to over 25,000 APMs, and our volume growth significantly surpassed the market. InPost's newly launched services, including Pay and loyalty program, have already begun contributing to incremental parcel volumes.

In the UK, we completed the acquisition of Menzies, giving us full ownership of the entire UK logistics process. Last year, we doubled our volume YoY and recently we launched B2C offering in that market, with over 20 merchants already using the InPost 'collect' service.

Mondial Relay markets are growing in line with our strategy in B2C and APM volume. In all markets we continue to focus on UX improvements and network expansion.

Based on strong Q4 trading results, we feel comfortable with our full-year outlook communicated in November and we are excited about the opportunities that lie ahead."

Q4 and FY 2024 Operational Highlights 1

	Q4 2024	Q4 2023	YoY growth
Parcel volumes (million)	322.1	268.2	20%
Poland	209.9	175.4	20%
APM	173.3	146.6	18%
To-door	36.5	28.8	27%
International	112.2	92.8	21%
Of which Mondial Relay	77.7	70.6	10%
Of which UK + Italy	34.6	22.1	56%

	FY 2024	FY 2023	YoY growth
Parcel volumes (million)	1,091.6	891.9	22%
Poland	709.3	589.5	20%
APM	577.6	493.3	17%
To-door	131.7	96.2	37%
International	382.4	302.4	26%
Of which Mondial Relay	266.6	239.9	11%
Of which UK + Italy	115.8	62.5	85%

	31 Dec 2024	31 Dec 2023	YoY growth
No. of APMs (#)	46,977	35,449	33%
Poland	25,269	21,969	15%
International	21,708	13,480	61%
Of which Mondial Relay	9,217	5,317	73%
Of which UK + Italy	12,491	8,163	53%
No. of lockers (000s)	5,536	4,412	25%
Poland	3,662	3,263	12%
International	1,875	1,149	63%
Of which Mondial Relay	1,016	622	63%
Of which UK + Italy	859	526	63%
No. of PUDOs (#)	35,119	30,615	15%

¹ All figures for 2024 are preliminary and final audited numbers will be presented in the annual report for 2024.

Q4 and full year 2024 operational update

Poland	3,984	3,714	7%
International	31,135	26,901	16%
Of which Mondial Relay	22,025	21,076	5%
Of which UK + Italy	9,110	5,825	56%

About InPost S.A.

InPost (Euronext Amsterdam: INPST) has revolutionised e-commerce parcel delivery in Poland and is now one of Europe's leading OOH e-commerce enablement platforms. Founded in 1999 by Rafał Brzoska, InPost provides delivery services through our network of almost 47,000 Automated Parcel Machines (APMs) and almost 35,000 pick-up drop-off points (PUDO) in nine countries across Europe, as well as to-door courier and fulfilment services to e-commerce merchants. InPost's locker machines provide consumers with a cheaper and more flexible, convenient, environmentally friendly and contactless delivery option.

Contact information

Gabriela Burdach, Director of Investor Relations

ir@inpost.eu

Wojciech Kądziołka, Spokesman

wkadziolka@inpost.pl

+48 725 25 09 85

Disclaimer

This press release contains inside information relating to the Company within the meaning of Article 7(1) of the EU Market Abuse Regulation.

This press release contains forward-looking statements. Other than the reported financial results and historical information, all the statements included in this press release, including, without limitation, those regarding our financial position, business strategy and management plans and objectives for future operations, are, or may be deemed to be, forward-looking statements that reflect the Company's current views for future events and financial and operational performance. These forward-looking statements may be identified using forward-looking terminology, including but not limited to the terms 'believes', 'estimates', 'plans', 'projects', 'anticipates', 'expects', 'intends', 'may', 'will', 'should' or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements are based on the Company's beliefs, assumptions and expectations regarding future events and trends that affect the Company's future performance, considering all the information currently available to the Company, and are not guarantees of future performance. By their nature, forwardlooking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future, and the Company cannot guarantee the accuracy or completeness of forward-looking statements. Several important factors, not all of which are known to the Company or are within the Company's control, could cause actual results or outcomes to differ materially from those expressed in any forward-looking statement because of the risks and uncertainties facing the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which relay information only as of the date of this press release and are subject to change without notice. Other than as required by applicable law or the applicable rules of any exchange on which our securities may be traded, we have no intention or obligation to update forward-looking statements.

All figures for 2024 are preliminary and final audited numbers will be presented in the annual report for 2024.