Redcare Pharmacy N.V.

Investor Presentation • Oct 30, 2022

SEVENUM, 31 OCTOBER 2022

Q3 2022 EARNINGS CALL

LIVE FROM OUR HEADQUARTERS IN SEVENUM.

JASPER EENHORST, CFO. STEFAN FELTENS, CEO.

TODAY'S AGENDA.

FINANCIAL PERFORMANCE.

UPDATE ON BUSINESS AND STRATEGY.

FINANCIAL PERFORMANCE.

HIGHLIGHTS Q3 2022.

SOLID AND SUCCESSFUL QUARTER, FULLY IN LINE WITH THE GUIDANCE PROVIDED AT THE START OF THE YEAR:

• E-RX: HALF A MILLION REDEEMED E-SCRIPTS TO DATE PROSPECT OF NATIONWIDE ROLL-OUT NEXT YEAR.
• STRONG SALES GROWTH AGAIN, WITH CONTINUED MARKET SHARE GAINS ACROSS ALL GEOGRAPHIES. Q3 SALES UP 20% YOY (Q2: 15%, Q1: 7%), RESULTING IN 9M TOTAL SALES OF EUR 877M. NON-RX GREW BY 22% IN Q3 (9M 18%).

• POSITIVE ADJUSTED EBITDA IN Q3.

0.9% ADJ. EBITDA MARGIN FOR ONGOING BUSINESS, UP VS. H1 2.4PP.

• FAST, SUSTAINED CUSTOMER GROWTH AND HIGH CUSTOMER SATISFACTION.

ACTIVE CUSTOMER BASE CLOSE TO 9M: UP 1.0M YTD; NPS OF 73.

• SUSTAINABILITY: DRIVING DE-CARBONISATION.

COMMITTED TO BRINGING EMISSIONS ALONG THE ENTIRE VALUE CHAIN TO NET ZERO.

KEY FINANCIALS. DOUBLE-DIGIT TOTAL SALES GROWTH.

SHOP APOTHEKE EUROPE TODAY.

LEADING POSITIONS IN EUROPE.

• UNDISPUTED MARKET LEADER IN BELGIUM.
• UNDISPUTED MARKET LEADER IN AUSTRIA.
• LARGEST AND MOST VISITED PHARMACY WEBSHOP IN GERMANY.

GROWTH DRIVEN BY CUSTOMER SATISFACTION.

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SOURCES: SHOPPERWARE; GOOGLE TRENDS AND SIMILARWEB (SEPTEMBER 2022).

ACTIVE CUSTOMER BASE CLOSE TO 9M. CONTINUOUSLY STRONG NET PROMOTER SCORE.

UNIQUE DELIVERY OPTIONS FOR MORE CUSTOMER SATISFACTION.

DELIVERY IN 1 – 2 DAYS. SAME-DAY-DELIVERY. DELIVERY IN LESS THAN 1 HOUR.

VISITS TO OUR WEBSITES AND APPS. DOUBLE DIGIT TRAFFIC GROWTH CONTINUES.

WEB TRAFFIC. SHOP-APOTHEKE.COM MOST POPULAR HEALTH AND PHARMACY WEBSITE IN GERMANY.

SOURCE: SIMILARWEB, SEPTEMBER 2022.

SHOP-APOTHEKE.COM

N°1

SEARCH TERMS. SHOP-APOTHEKE.COM, MOST SEARCHED PHARMACY BRAND IN GERMANY – BY FAR.

SOURCE: GOOGLE ANALYTICS SEPTEMBER 2022.

5.4 MILLION ORDERS IN Q3, UP 1 MILLION FROM LAST YEAR'S Q3. CONTINUED HIGH SHARE FROM RETURNING CUSTOMERS.

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1 (14)

KEY FINANCIALS: PROFIT & LOSS. ADJ. EBITDA EUR 3M OR A MARGIN OF 0.9% IN Q3.

In millions of euros. Adjusted number for the ongoing business	Q3 2021	Q3 2022	Better / (Worse) than Q3 2021	Better / (Worse) than H1 2022	9M 2021	9M 2022
Sales	238	284	19.6%		772	876
Gross profit margin	25.0%	28.0%	3.0 pp	0.9 pp	25.4%	27.4%
Selling & distribution margin	(22.7)%	(23.8)%	(1.1) pp	1.7 pp	(21.7)%	(24.9)%
Administrative costs margin	(3.2)%	(3.3)%	(0.1) pp	(0.1) pp	(3.1)%	(3.2)%
Adj. EBITDA margin	(0.9)%	0.9%	1.8 pp	2.4 pp	0.6%	(0.7)%
Adj. EBITDA	(2)	3	5		5	(6)

(5) (6) (1)

(4) (1) 3 Adjustments in 2022 EUR 19.9M: EUR 13.0M (non-cash) from non IFRS 3 accounting of the 2021 business acquisitions. Remainder is employee stock options programme costs (non-cash) and one-off external costs related to projects and including acquisitions.

Total Group EBITDA

Operating result cash

KEY FINANCIALS: GROSS PROFIT MARGIN. UP 2.0 PP VS. LAST YEAR'S 9M.

KEY FINANCIALS: SELLING & DISTRIBUTION RATIO. COST EFFICIENCY IMPROVED IN Q3 VERSUS H1.

KEY FINANCIALS: CASH FLOW. INVESTMENTS OF EUR 44 M; SOLID CASH BALANCE.

UPDATE ON STRATEGY AND BUSINESS.

START OF ROLL-OUT ON 1 SEPTEMBER IN WESTFALEN-LIPPE.

UPDATE ON E-RX. HALF A MILLION REDEEMED E-SCRIPTS.

• TO DATE 504,560 E-PRESCRIPTIONS HAVE BEEN REDEEMED.
• DAILY NUMBER OF REDEEMED E-PRESCRIPTIONS ON 28 OCT: 8,655 (31 AUG: 3,895).
• DISCUSSIONS ON E-GK ONGOING.

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NATIONWIDE ROLL-OUT IN 2023.

SCIENCE-BASED.

INCLUDING SCOPE 3 EMISSIONS.

UPDATE ON SUSTAINABLE DEVELOPMENT. NET ZERO 2040: FIRMLY COMMITTED TO 1.5°.

• COLLABORATION ALONG THE ENTIRE VALUE CHAIN.
• DECOUPLING OUR EMISSIONS FROM OUR BUSINESS GROWTH. 1.5°C

SUSTAINABLE DEVELOPMENT: WE ALREADY STARTED IN 2020.

• 2025 TARGET TO REDUCE ABSOLUTE EMISSIONS IN SCOPE 1 AND 2 BY 80% ALREADY REACHED.
• LOGISTICS AND DISTRIBUTION FACILITIES SWITCHED TO 100% RENEWABLE ENERGY.
• FIRST EVER COMPREHENSIVE ECOLOGICAL FOOTPRINT ON HALF-YEAR BASIS FOR INTERNAL REPORTING AND STEERING (ALL LOCATIONS AND BEYOND CO2 REPORTING).

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OUTLOOK AND GUIDANCE.

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.

TIME TO ASK QUESTIONS.

THANK YOU FOR YOUR TIME.

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