Q1 2023 EARNINGS CALL PRESENTATION

May 3, 2023

This document has been prepared by Bike24 Holding AG (the "Company" and, together with its subsidiaries, the "Group"). All material contained in this document and information presented is for information purposes only and must not be relied upon for any purpose. This document does not purport to be a full or complete description of the Company or the Group. This document does not, and is not intended to, constitute or form part of, and should not be construed as, an offer to sell, or a solicitation of an offer to purchase, subscribe for or otherwise acquire, any securities of the Company, nor shall it or any part of it form the basis of or be relied upon in connection with or act as any inducement or recommendation to enter into any contract or commitment or investment decision or other transaction whatsoever. This document is not directed at, or intended for distribution to or use by, any person or entity that is a citizen or resident or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would require any registration or licensing within such jurisdiction. Persons into whose possession this document comes should inform themselves about, and observe, any such restrictions.

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This document also contains certain financial measures that are not recognized under International Financial Reporting Standards ("IFRS"), including adjusted EBITDA. These non-IFRS measures are presented because the Company believes that they and similar measures are widely used in the markets in which it operates as a means of evaluating the Company's operating performance and financing structure. They may not be comparable to other similarly titled measures of other companies and are not measurements under IFRS or other generally accepted accounting principles. See [the appendix] for a reconciliation of certain of these non-lFRS measures to the most directly comparable IFRS measure.

Figures shown in this presentation are unaudited.

Financial Update

Business Update

ACTIVE CUSTOMER BASE ON NEW RECORD-HIGH

More than 970k active customers (+16% YoY, LTM) at the end of March 2023, driven by a successful new customer acquisition campaign

TOTAL SALES DOWN -11% BUT STRONG FULL-BIKE SALES (+20%)

Full-bike sales development indicating sustainability of cycling trend despite macroeconomic headwinds; total sales share now at 16%

OUTSTANDING SALES GROWTH OF +109% IN LOCALIZED MARKETS

France again outperforming with +165% sales growth driven by full-bike sales, Italy up +138% and Spain up +50%

ADJ. EBITDA MARGIN AT -4.7% AS EXPECTED

Adj. EBITDA margin mainly impacted by lower gross margins due to ongoing promotional activities across the industry

IMPROVED OPERATING CASH FLOW AS PROMISED

Clearing overcapacities and strategic inventory intake resulting in improved operating cash flow for the quarter

Financial Update

Business Update

DRIVEN BY SUCCESSFUL NEW CUSTOMER ACQUISITION CAMPAIGN IN LOCALIZED MARKETS

1) Active Customer: Customer who placed at least one order during the last twelve months (LTM)

HIGH NUMBER OF NEW CUSTOMERS IMPACTING ACTIVE CUSTOMER KPIs

1) Defined as revenue divided by number of active customers

2) Defined as revenue divided by the number of orders

FULL-BIKE SHARE OF TOTAL SALES NOW AT 16% DESPITE UNFAVORABLE WEATHER

Bikes PAC Bikes PAC

SALES GROWTH IN LOCALIZED MARKETS AGAIN >100%; NOW AT 16% OF TOTAL SALES

Q1 REVENUE BY GEOGRAPHY

(IN EUR M)

INVENTORY INCREASED ONLY MARGINALLY WITH NEW SEASONAL PRODUCTS REPLACING OVER-SUPPLY

Q1 AT A GLANCE

in % of Revenues	Q1 2023	Q1 2022	Change
Gross Margin	21.5%	28.3%	(6.8pp)	Ongoing overcapacities across the industry leading to intense promotional activities
Performance Marketing	(1.3%)	(1.0%)	(0.3pp)
Selling Costs	(9.5%)	(8.3%)	(1.2pp)	Higher share of international orders especially in localized markets
Contribution Margin	10.7%	19.0%	(8.3pp)
Personnel Expenses1	(11.6%)	(9.7%)	(1.9pp)	General wage increases and international hiring
Miscellaneous Expenses1	(3.8%)	(3.1%)	(0.7pp)	Operational investments into
Adj. EBITDA Margin1	(4.7%)	6.2%	(10.9pp)	localization and IT security

¹Adjustments of €1,054k for Q1 2023 (Q1 2022: €655k) are mainly share option-based bonuses and SAP implementation costs, of which €79k for Q1 2023 (Q1 2022: €599k) are adjusted for personnel expenses and €975k for Q1 2023 (Q1 2022: €56k) are adjusted for miscellaneous expenses. Rounding differences may apply.