Adevinta — Investor Presentation 2021

Jul 15, 2021

Q2 2021 Trading Update

Rolv Erik Ryssdal, CEO Uvashni Raman, CFO

IMPORTANT – You must read the following before continuing. The following applies to this document, the oral presentation of the information in this document by Adevinta ASA (the "Company") or any person on behalf of the Company, and any question-and-answer session that follows the oral presentation (collectively, the "Information"). In accessing the Information, you agree to be bound by the following terms and conditions.

The Information does not constitute or form part of, and should not be construed as an offer or the solicitation of an offer to subscribe for or purchase securities of the Company, and nothing contained therein shall form the basis of or be relied on in connection with any contract or commitment whatsoever, nor does it constitute a recommendation regarding such securities. Any securities of the Company may not be offered or sold in the United States or any other jurisdiction where such a registration would be required unless so registered, or an exemption from the registration requirements of the U.S. Securities Act of 1933, as amended, or other applicable laws and regulations is available. The Information is not directed to, or intended for distribution to or use by, any person or entity that is a citizen or resident of, or located in, any locality, state, country or other jurisdiction where such distribution or use would be contrary to law or regulation or which would require any registration or licensing within such jurisdiction. The Information is not for publication, release or distribution in any jurisdiction in which offers or sales would be prohibited by applicable law.

The Information has been prepared by the Company, and no other party accepts any responsibility whatsoever, or makes any representation or warranty, express or implied, for the contents of the Information, including its accuracy, completeness or verification or for any other statement made or purported to be made in connection with the Company and nothing in this document or at this presentation shall be relied upon as a promise or representation in this respect, whether as to the past or the future.

The Information contains forward-looking statements. All statements other than statements of historical fact included in the Information are forward-looking statements. Forward-looking statements give the Company's current expectations and projections relating to its financial condition, results of operations, plans, objectives, future performance and business.

These statements may include, without limitation, any statements preceded by, followed by or including words such as "target," "believe," "expect," "aim," "intend," "may," "anticipate," "estimate," "plan," "project," "will," "can have," "likely," "should," "would," "could" and other words and terms of similar meaning or the negative thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Company's control that could cause the Company's actual results, performance or achievements to be materially different from the expected results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Company's present and future business strategies and the environment in which it will operate in the future.

No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the Information or the opinions contained therein. The Information has not been independently verified and will not be updated. The Information, including but not limited to forward-looking statements, applies only as of the date of this document and is not intended to give any assurances as to future results. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to the Information, including any financial data or forward-looking statements, and will not publicly release any revisions it may make to the Information that may result from any change in the Company's expectations, any change in events, conditions or circumstances on which these forward-looking statements are based, or other events or circumstances arising after the date of this document.

This presentation contains statistics, data, statements and other information relating to the group's markets and the industry in which it operates. Where such information has been derived from third-party sources, such sources have been identified herein. In addition, the Company has been named as a source for certain market and industry statements included in this presentation. Such "Company information" reflects the Company's views based on one or more sources available to it (some of which are not publicly available, but can be obtained against payment), including data compiled by professional organisations, consultants and analysts and information otherwise obtained from other third party sources.

Highlights

Rolv Erik Ryssdal, CEO

Key highlights of the quarter

Market Environment Business Initiatives

Gradual easing of Covid-19 restrictions in the quarter

GDP expected to grow +5.75% in 2021 and +4% in 2022¹

Double digit growth in traffic, coming back to normal trend in second half of Q2 driven by the end of 3rd lockdown

Motors & Real Estate: weak supply but strong audience

Jobs: progressive recovery

Strong recovery in Holidays rental benefiting from the easing of mobility restrictions

Wide marketing and PR campaigns for the 15th anniversary of LBC with strong positive results

Marketing campaigns to promote transactional services

New features on transactional such as new scoring ranking test on listing, pricing strategy on shipping, user check (SMS), new design on Apps...

Continued verticalization in Real Estate (new listing, land surface indication, local information on maps…) and Motors (new listing, criterias…)

Market Environment Business Initiatives

The state of alarm ended on May 9th

GDP projections for 2021 revised upwards in Q2 (vs January forecast) to 6.4%

Spanish Covid recovery plan to allocate significant share of the funds to digitalization

Encouraging recovery signs with Real Estate Market very close to pre-covid level at the end of May

Jobs underlying market still weak

Increasing competitive landscape in Motors, Generalist and Jobs

Real estate: multiple improvements in user experience (Express Visit feature, Google one tap log-in, Geo advisor...)

Motors: migration of professional client to new responsive site and improved content sharing with Milanuncios

Jobs: launch of multi publishing product between InfoJobs and Milanuncios and improved user experience (salary calculator, curriculum vitae multi format upload enabled...)

Generalist: continued improvement on transactional (opened for big items) and use of machine learning

Investment to further increase in H2 to accelerate recovery and fence-off competition

Market Environment Business Initiatives

Flattening off of covid-related deaths after peak at beginning of Q2, though remaining higher than in most other countries due to slow vaccine roll-out

Gradual release of restrictions on social interactions and business during the quarter

Real Estate market: continued momentum due to low interest rates

Recovery in the Motor market, both in production and car sales, though not at full capacity yet

Strong momentum in Consumer Goods

Real estate: gradual roll-out of the triple bundle ZAP / VR / OLX

Motor: further digitalization of the car journey (vehicle history roll-out and improved car financing and insurance service)

Pay & Ship: Improved scalability, automation and fraud handling set stage for further growth

Significant cost reductions, capturing synergies from merging back-office processes, systems and sales forces

Italy	Willhaben	Ireland	Hungary	Shpock
Strong growth in traffic and content with slight deceleration in last part of the quarter Continued development of transactional services: shipping, one-click buy, user ratings Recovery in Motor and Jobs	Strong performance in all revenue streams Paylivery continued to gain traction and scale Encouraging developments in Jobs	Significant improvement in ARPD in Motors Good performance in Real Estate supported by our mortgage and Multi Unit Rental businesses Increasing traffic numbers in all categories in Advertising	Strong recovery in Jobs Mixed performance in Motors with continued growth in professionals while private still not recovering Positive P&T developments resulting in increased use and penetration of apps	Sold to Russmedia on June 2nd

Q2 financial performance Adevinta (excl. eCG)

Uvashni Raman, CFO

Group - Further recovery in Q2

Operational KPIs (100 indexed)

Leads

Revenues EBITDA

Revenues up 36% yoy to €213m

Organic revenues up 36% yoy, supported by a favorable comparison base

Online classifieds revenues up 39% yoy (of which 6% from transactional revenues)

Display advertising revenues up 35% yoy

EBITDA up 24% yoy to €52m

EBITDA margin at 24.7%, or 29.8% excl negative impact of ESOP costs in Brazil

Revenue growth and benefit from divested assets partially offset by ramp-up of marketing spending, increase in personnel costs and increase in transactional costs

All numbers on a proportionate basis incl JVs.

France | Strong performance and ramp-up of marketing investment

Revenues

EBITDA margin

Slight margin softening despite revenue growth, mainly attributable to:

• Strong marketing investment in Q2 (LBC 15th anniversary and delivery services promotion)
• Increasing share of transactional services
• Increasing personnel costs due to ramp-up in hiring

Revenues

Revenue up 45% yoy, and 4% vs Q2 2019

Strong growth in Motors led by higher ARPU and number of clients

Continued recovery in Real Estate

Significant recovery in Jobs benefitting from digitalisation of SMBs

Display advertising broadly in line with Q2 2019

EBITDA margin

Slight improvement in margin

Revenues increase partly offset by the reactivation of marketing spending and the increase in personnel costs in order to support and boost market positions

Brazil | Strong organic growth, margin impacted by one-off

Revenues

OLX Brasil up 148% including Grupo ZAP (+47% yoy on a comparable basis and +32% vs Q2 2019)

Strong performance in Motors, Real Estate and Consumer goods

Solid performance in indirect Advertising and continued momentum in transactional services

EBITDA margin

Negative margin due to the one-off impact of ESOP

On a comparable basis (excl. ESOP and Grupo Zap), EBITDA margin up 8pp yoy driven by increased revenues

Continued investment in talent and reactivation of marketing spending

Global Markets | Strong performance in main markets and improved margin

Revenues

Organic revenues up 34% yoy

Excluding disposals, revenues from Classifieds (including transactional revenues) up 29% yoy and Display Advertising up 44% yoy

Strong performance in Ireland, Italy and Willhaben

EBITDA margin

Margin up 0.9pp yoy, benefitting from divestments

Excluding disposals, margin down 6pp yoy, due to:

• Acceleration of marketing and Product & Tech investment in Italy
• Higher personnel costs at Willhaben
• Partly offset by increased margin in Ireland

New Adevinta

Rolv Erik Ryssdal, CEO

Successful closing of the eCG transaction

Acquisition completed on June 25, 2021 Final transaction highlights:

\$2.5bn cash consideration paid to eBay

342,474,251 ordinary shares ("Class A Shares") issued to eBay

€278m cash consideration received from Schibsted

197,520,228 shares of a new class of non-voting shares ("Class B Shares") issued to eBay

Sale process for eCG assets in the UK ongoing as per commitment to UK CMA

Funding of the cash settlement and refinancing of the debt: Adevinta has acceded to the Senior Secured Notes (€1.06bn) and Term Loan B (€900m and \$506m)

New Governance and Shareholding structure

Orla Noonan Board Chair

Fernando Abril-Martorell

Julia Jäkel Sophie

Michael Nilles

Marie Oh Huber

Aleksander Rosinski

Kristin Skogen Lund

Mark Solomons

Javary

NB: 1,367,750 treasury shares held as of July 14th are not excluded 17

Adevinta around the world

New organisational structure

Adevinta Executive Team

mobile.de is the #1 car portal in Germany with ~50% of used cars sold through the platform

mobile.de offers an attractive product suite for all buyer, seller and dealer needs

Attractive growth of ARPD* accelerated through more and differentiated packages

mobile.de operates in a highly attractive space and has 2 attractive growth levers

1

Large opportunity to capture more dealer marketing spend

² mobile.de already expanded along the value chain to serve unmet customer needs and tap into new revenue pools

C2B: With our partner dealers we offer an easy solution for consumer sellers to sell their car

Financing: attractive Financing Offering for Consumers and Dealers

550K

Online Car Valuations finished/m

90% of Users can select a dealership within 10km radius

400Klistings with dealer financing

9Kdealers in TRX model

130K/m total financing leads

2

Further opportunities as consumers embrace digital retail and new service models, we strive to extend our services and tap into new revenue pools

Digital Retail & Online Buying

Leasing & Car Subscription

Customers embrace online transactions

Online retail of cars have become a viable business model

16% of German car buyers are willing to buy their next car via click & collect or home delivery (27% in UK, 19% in France, 15% in Italy)*

Customer look for alternative financing and ownership models

Rising interest in leasing: 33% of new car buyers and 30% of used car buyers in Germany do not think that owning a car is better than leasing*

Rising interest in subscription models:

In 2020, c. 42K car subscriptions sold in Germany** For 2030, >500k subscriptions are projected

In conclusion,

we are well positioned and see strong opportunities for growth leveraging our brand and continuing our journey towards transactions

German vertical motors champion with strong brand, highest reach, and eBay Kleinanzeigen as partner

Leading position in largest European car market with continued underlying car market growth expected

Exciting continued growth opportunities in our core dealer business to capture more dealer marketing spend...

...focus on expanding along the value chain to serve unmet customer needs and tap into new revenue pools

Increased combined Adevinta scale and expertise in Motors with strong European position creating benefits in the mid-term

Paul Heimann, CEO eBay Kleinanzeigen

eBay Kleinanzeigen: The #1 generalist portal in Germany

Connecting German buyers & sellers at very large scale

Kleinanzeigen driving growth with a strong product culture

Kleinanzeigen with large monetization potential ahead

Kleinanzeigen with unique horizontal growth opportunities

• • out of these 52k live on Kleinanzeigen
• • out of these, ~20k active SMB subscribers

Kleinanzeigen with exciting momentum in key verticals

Further verticalize Real Estate	Evolve joint motors offering
Commission pool €6,5 Bn1	&
Real-estate advertising €750m1
Agent classifieds spend €480m2	leverage horizontal

Leveraging on our strong traffic and listings base...

Listings3	Agents3	Visits4
157k	1x	108m
327k	2.3x	110m
170k	1.7x	75m

J

leverage horizontal flywheel

Existing	Joint marketing activities
	Cross-listing of inventory
Planned	Cross-platform promotional activities
	Mobile.de C2B offering on Kleinanzeigen

1/2 USD estimates converted at fix exchange rate 1 EUR = 1.176806 USD Sources: 1OC&C Strategy Consultants 2019, 2Adevinta estimates, 3Autobiz May 2021, 4Similarweb, IVW 2021, IS24 & IW Company websites & reports

eBay Kleinanzeigen best positioned to create value

German champion with highest reach & engagement

Track-record of growth through innovating the product

Unique horizontal growth opportunity through e.g. SMB and Transactional

Exciting growth opportunity in key verticals Real-estate and Motors

Expected benefit from expertise in driving monetization from other Adevinta platforms like Leboncoin

Zac Candelario, EVP International Markets

Leveraging eCG's strengths – Advertising

Complementary revenue mix highlight eCG strengths

Advertising complements classifieds

Extends TAM beyond Classifieds Solutions for more advertisers and budgets

eCG offers a comprehensive suite of advertiser products

36%* of advertising revenues

55%* of advertising revenues 8%* of advertising revenues

eCG has expertise, proprietary capabilities and strong relations with key industry partners that can be leveraged

Outlook

Rolv Erik Ryssdal, CEO

Long-term value creation opportunity ahead of us

Acceleration of digital trends and emergence of new models

Uniquely positioned to benefit from ongoing transformation

Positive momentum expected to continue albeit that volumes remain soft and uncertain in some markets in the short term

Now entering execution phase following completion of the eCG transaction: key priority to deliver on synergy target (estimated €130-165m run-rate annual EBITDA impact in year 3* )

While keeping strong focus on operations

Further investment in the business to reinforce our positions and seize market opportunities in classifieds, acceleration in markets where we face increasing competition

*Based on initial portfolio

Next steps: more color to come in H2

August 30	Early November	November 25	November 30
Q2 Financial report	Historical quarterly information	Q3 Results	Capital Markets Day
	Release of historical like-for-like quarterly information for 2019, 2020 and 2021	Results to be published under the new reporting structure: ● France ● Mobile.de ● European Markets ● International Markets	Focus on combined group strategic and financial objectives
			45

Basic information

Ticker
Oslo Stock Exchange Reuters Bloomberg	ADE ADE.OL ADE:NO
Number of shares	1,224,942,981
Of which:
Class A shares	1,027,422,753
Class B shares (non-voting, not listed shares)	197,520,228
Treasury shares (July 14, 2021)	1,367,750
Number of shares outstanding	1,223,575,231
Free float*	22.7%
Share price (July 14, 2021)	NOK 185
Average daily trading volume (shares)**	540,504
Market Cap total (July 14, 2021)	NOK 226.4bn (USD 25.9bn)

* Total number of shares excluding treasury shares and shares owned by Schibsted ASA and eBay Inc

** Past hundred days on the Oslo Stock Exchange

Marie de Scorbiac, Head of Investor Relations | +33 6 1465 7740 Anne-Sophie Jugean, Investor Relations Manager | +33 6 7419 2281 ir@adevinta.com

Adevinta ASA, Akersgata 55, P.O. Box 490 Sentrum