Delivery Hero SE — Investor Presentation 2021

Dec 6, 2021

Company Presentation

December 2021

Overview

Q3 2021 Highlights Business Model Outlook Case Study Asia Snapshot ESG

Our Clear Vision

Always delivering an amazing experience

Fast, easy and to your door

40% in short/mid-term (2017 IPO target) >30% in the long-term

Further strengthen our position across the most attractive regions

Invest in innovation to build a third generation ondemand platform

Drive profitability through scale and automation Long term adj. EBITDA margin

target of 5-8% of GMV

Please Note: All Following Slides Show Pro Forma Financials Incl. Woowa and Excl. Delivery Hero Korea

• As a reminder:
• Woowa transaction closed 4 March 2021
• Divestment of Delivery Hero Korea closed on 29 October 2021
• In order to give a better picture of the Group profile going forward and in line with our reporting in our previous Trading Updates, we will be presenting pro forma numbers that are:
• Including Woowa from 1 January 2021 onwards
• Excluding Delivery Hero Korea from 1 January 2021 onwards
• For better comparison, historic data is also restated

Delivery Hero at a Glance

All values including Woowa and excluding Delivery Hero Korea. For further details please view slide 5.

Total Segment Revenue is defined as revenue in accordance with IFRS 15, excluding the effect of vouchers and other discounts. Difference between group revenues and the sum of segment revenues is mainly due to inter company eliminations for services charged by the Platform Businesses to the Integrated Verticals Businesses (FY 2020 Pro Forma: €-18.2m).

Full Year 2020 Financial Results Pro Forma

1. Total Segment Revenue is defined as revenue in accordance with IFRS 15, excluding the effect of vouchers and other discounts. Difference between total segment revenue and the sum of segment revenues is mainly due to inter company eliminations for services charged by the Platform Businesses to the Integrated Verticals Businesses (FY 2020: €-18.2m; FY 2020 Pro Forma: €-18.2m).

Leading Countries Generating >95%¹ of GMV

As of November 2021.

1. Management estimates based on publicly available data.

Highly Predictable Customer Behavior With Accelerating Growth

Cohort refers to customers grouped by the calendar year in which they first placed an order with Delivery Hero. Cohort is reflective of the Delivery Hero's current footprint. 1.

COVID-19 declared global pandemic. $2.$

Leadership in Innovation and Technology

PERSONALIZATION SEARCH & DISCOVERY

Discovery based on inspirational content and next generation browsing experience

Personalization based on consumer preferences and machine learning

Recommendation to customers with targeted messages and tailored product experience

Our goal is for the customer to ultimately have the best journey

PARTNER SOLUTIONS

TEDA Service
$-1$ STATISTICS			interesting in At Little
$\frac{1}{2} \left( \frac{1}{2} \right) \left( \frac{1}{2} \right) \left( \frac{1}{2} \right) \left( \frac{1}{2} \right) \left( \frac{1}{2} \right) \left( \frac{1}{2} \right) \left( \frac{1}{2} \right) \left( \frac{1}{2} \right) \left( \frac{1}{2} \right) \left( \frac{1}{2} \right) \left( \frac{1}{2} \right) \left( \frac{1}{2} \right) \left( \frac{1}{2} \right) \left( \frac{1}{2} \right) \left( \frac{1}{2} \right) \left( \frac{1}{2} \right) \left( \frac$				٠
Astronometricans \$2. percentage ALCOHOL:	$-11$	Total	$-1$
٠		٠ March	NEW L.		٠
To Please Secretary Process Sales Process	$\frac{1}{2} \left( \frac{1}{2} \right) \left( \frac{1}{2} \right) \left( \frac{1}{2} \right)$	and the company from
The River Associations (Primary) To Francisco	1000
Tachette Street	$\frac{1}{2} \left( \frac{1}{2} \right) \left( \frac{1}{2} \right)$
Hardwarless Homes Shower	15.00 $\frac{1}{2} \left( \frac{1}{2} \right) \left( \frac{1}{2} \right) \left( \frac{1}{2} \right)$
Senat Earth	and and

Technology to deepen our relationship with our restaurant and vendor partners

Tools for partners:

• Order transmission
• Order processing
• Partner integration $\bullet$
• Order tracking
• Performance reports
• Business Intelligence to enable better product and operational decisions
• Wallet functionalities

LOGISTICS SERVICES

Improvements in logistics efficiency via central services, enabling to reduce the cost of delivery

Our technology provides smart and efficient delivery processes:

• Rider scheduling
• Rider staffing $\bullet$
• Fleet management
• Route optimization
• Real-time delivery estimates
• Dynamic pricing (i.e. distance)

PI ATFORM

	$\overline{\phantom{a}}$ ٠		4 level 1 dramati Manauk
٠ ä ٠
		$-$ m. __	$\cdots$ $\overline{\phantom{a}}$ $\blacksquare$ ٠

Localization challenge solved with:

• 1. Central services
• Personalization and Search & Discovery
• Partner solutions $\bullet$
• Logistics services
• Data warehouse & analytics
• performance marketing
• Restaurant CRM
• Finance systems
• Customer reviews

2. Regional platforms

• Cultural specifics
• Address systems
• Integrated payment systems

Overview

Q3 2021 Highlights Business Model Outlook Case Study Asia Snapshot ESG

Q3 2021 Key Highlights

Total Segment Revenue growth of 89% YoY

Acceleration of Dmart launches: +174 new stores in Q3 2021 vs. +84 stores in Q2 2021 (861 stores at end of Sep)

Strong profitability improvement in South Korea in 9M 2021 while rapidly rolling out own delivery logistics

Further increase of contribution margin in own-delivery – Asia OD business¹ at break-even after vouchers

Continued extension of footprint and service offering through strategic M&A and investments

Divestment of Delivery Hero Korea (Yogiyo) completed²

This excludes Delivery Hero Korea and is not yet including Woowa.

Transaction was closed in October 2021.

Q3 2021 Financials Overview

Group Financial Highlights

GMV growth of 14% QoQ significantly faster than listed industry peers (4%)

Further increase of contribution margin in own-delivery - Asia OD business at break-even after vouchers (excl. DHK and Woowa)

Strong profitability improvement in South Korea in 9M 2021 while rapidly rolling out own delivery logistics

All values including Woowa and excluding Delivery Hero Korea.

• Orders and GMV are accounted for in the respective Platform segments and shown in the Integrated Verticals segment for illustrative purposes only. $1.$
• 1. Total Segment Revenue is defined as revenue in accordance with IFRS 15, excluding the effect of vouchers and other discounts. Difference between total segment revenue and the sum of segment revenues is mainly due to inter company eliminations for services charged by the Platform Businesses to the Integrated Verticals Businesses (Q3 2021: €-38.0m).

Overview Q3 2021 Highlights Business Model Outlook Case Study Asia Snapshot ESG

Illustration of the Platform Business

Pioneering in Quick Commerce

The Age of Q-Commerce

Untapping a Large and Underpenetrated Market

1. Footprint as of 30 September 2021.

Delivery Hero management estimate (reflective of Delivery Hero Footprint as of 28 April 2020). $2.$

Delivery Hero management estimate assuming q-commerce will be 25% of all groceries E-Commerce and 5% of Other Commerce (reflective of Delivery Hero Footprint as of 28 April 2020). $3.$

Two Pillars of Quick Commerce

	Q-commerce
	3rd Party Vendors
Financial Reporting	Delivery Hero acts as Agent Revenues reported in Platform business (regional segments)	Delivery Hero acts as Principal Revenues reported in Integrated Verticals
Coverage	48 countries with multi-vertical offering 1	$>1,000$ Dmarts across 43 countries 2
Choice	Large number of vendors across groceries, pharmacy, flowers, electronics, etc	Customer-focused assortment of up to $~5,000$ products
Shopping Occasion	Weekly and monthly shopping needs or specialty purchases	Convenience products and impulse purchases ordered at any time
Speed	30-60 minutes	<20 minutes

Illustration of the Dmart Concept

Dmarts Use Delivery Hero's Proprietary Technology Adapted for the Retail Environment

For more information refer to the following video: https://www.youtube.com/watch?v=vmAVqNoAdKw

The Dmarts Offering is Getting Strong Traction

Comparison of Average Basket Value (ABV) Dmarts vs. Food Delivery

Values for all Dmarts active in Jan 2021 vs Jun 2021

(weighted average ratio of ABV Dmarts relative to ABV Food)

Average Daily Orders per Store by Store Operating Month Values for cohort of stores active since June 2020 or before

B

Currently re-investing efficiency gains to expand our footprint – focusing on faster delivery times, customer acquisitions, competitive pricing, etc. in order to grab more market share.

Overview Q3 2021 Highlights Business Model Outlook Case Study Asia Snapshot ESG

Updated 2021 Outlook (Pro Forma for Woowa and DHK)

The below outlook includes Woowa on a pro forma basis as of 1 January 2021 and excludes Delivery Hero Korea from the same date onwards.

GMV	Upper end of €33bn to €35bn Previously: €33bn to €35bn
Total Segment Revenue	Upper end of €6.4bn to €6.7bn Previously: €6.4bn to €6.7bn
Adjusted EBITDA margin	Confirmed: around -2% of GMV Including negative EBITDA investments of ~€550m	The 2021 adjusted EBITDA margin target already includes negative ~€550m EBITDA investments for: . Integrated Verticals (mostly Dmarts) . New Markets (Japan, Vietnam, Germany, Peru, Ecuador, etc.)

Uniquely Positioned to Drive Long-Term Value

Large and expanding TAM opportunity

Food, groceries and other g-commerce areas offer a massive market opportunity in Delivery Hero's current country footprint covering a total population of 1.7bn

Leadership¹

95% of GMV generated in sectors where we are #1 75% of GMV generated in sectors in which DH is 4x the size of the #2 competitor

Forefront of product innovation

Built superior technology stack and constantly ahead of the curve in driving innovations around logistics, g-commerce, subscription, kitchen concepts, supplier systems and other core areas

Multiple levers driving highly attractive economics

Increasing frequency and average order value drive further improvement of unit economics

Clear path to 5-8% long-term EBITDA/GMV margin

Multiple profitability drivers, including scale, automation and commercial levers

Strong track record of value accretive acquisitions

Successful M&A to accelerate growth and expand our leadership

Overview Q3 2021 Highlights Business Model Outlook Case Study Asia

Snapshot ESG

Strong Competitive Position in South Korea with Large Lead in Active Users and User Frequency

2.3x more active users with 1.7x higher frequency => resulting in c. 3.9x expected order basis

Source: App Annie. 1. Average Sessions per User.

Strong Progress in Own-Delivery Rollout and Significant Profitability Improvement in South Korea Platform¹

Strong Competitive Position in Core APAC Countries

Overview includes all Asian countries where Delivery Hero is active through its foodpanda brand (Bangladesh, Cambodia, Hong Kong, Laos, Malaysia, Myanmar, Pakistan, Philippines, Singapore, Taiwan, Thailand) and excludes Japan and Korea. Source: App Annie.

Profitability in APAC Platform Business ramping-up fast

Adjusted EBITDA/GMV margin

Asia segment excl. South Korea, Japan and Integrated Verticals incl. all group costs

Overview Q2 2021 Highlights Business Model Outlook Case Study Asia

Snapshot ESG

Riders Are Our Brand Ambassadors and We Aim for Beneficial Relationships Across all Regions

Heterogeneous landscape of regulatory environment today	and different local rider engagement models
• APAC and MENA: Freelance status of platform workers not widely disputed • Europe and Americas: Freelance status of platform workers disputed in several countries. Legislative initiatives to regulate worker status at a	• Freelance only: most APAC markets incl. Singapore, Thailand • 3PL only: most MENA markets incl. UAE • Employment only: Greece, Turkey • Mixed models: more than one model co-existing in Austria, Argentina,
country level and at EU level	Norway (status choice via collective bargaining agreement).

Case Study Norway^'

1. When riders apply to be a courier in Norway, they get the option to choose what vehicle type they want to deliver with

2. 1. Then they can choose how they want to be affiliated Either as an employee or an independent contractor
3. ₩ Riders prefer flexibility: 70% of riders applied for a freelancer model

Special Initiative

COVID-19 - Rider Support Initiative

• Financial fund with a volume of EUR 3 million
• To allow Delivery Hero subsidiaries supporting those riders who are engaged as freelancers and directly affected by COVID-19 for a duration of up to 15 days

Summary

• Scope: All markets Delivery Hero is operating in
• Duration: The program consolidates ongoing rider initiatives since June 2019
• Senior Management Involvement: Delivery Hero CFO, CPO and management functions for every country
• Purpose: The Global Rider Program strives to further improve the experience of riders while also contributing to the business objectives of Delivery Hero. The program currently consists of 8 projects that have been initiated to tackle key critical rider areas ensuring a compliant, safe & effective work environment for both riders and Delivery Hero.

Climate Action and Diversity & Inclusion (D&I)

Climate Action Achievements & Outlook

At Delivery Hero, carbon neutrality is an important part of our sustainability ambition.

In January 2021, we achieved carbon neutrality for our 2020 operations in Europe and Latin America by offsetting 278,822 tCO₂e through certified climate protection projects.

By extending the carbon neutrality program to MENA and Asia, we aim to be carbon neutral globally by end of 2021.

Launch of the Sustainable Packaging Program in Q2 2021 will contribute to reduce our carbon footprint.

First submission to CDP on climate change topics will take place in 2021. As a next step, we will set targets to actively reduce our CO₂ emissions going forward.

D&I Strategy at Delivery Hero

Our D&I strategy is focused on equal opportunity, equitable structures, and inclusive behavior.

Introduction of the D&I Advisory Board in the summer of 2021 - supporting our D&I commitment.

Following the launch of the community of Inclusion Champions, the women in leadership program will be launched by the end of 2021.

Supporting the #StayOnBoard initiative - promoting the representation of women in boards and leadership positions.

Strengthening our HeroCommunities - ERGs including FemaleHeroes, MuslimHeroes, PrideHeroes and more.

Appendix

Total Segment Orders (m) $GMV$ ( $\epsilon$ m) Revenue $(\epsilon m)^1$ YoY growth rates in red are constant currency and in black are reported currency $+65%2$ $+65%$ 9.563 Strong order growth of 52% YoY, despite a gradual easing of COVID restrictions $+90\%$ ² +89% 1.789 GMV growth of 65% YoY in Q3 2021 driven by 5.804 several initiatives to increase the average order $+52%$ value (AOV), especially in APAC and Americas 791 Fast growing Integrated Verticals segment 946 520 $\boldsymbol{\mathcal{L}}$ supports over-proportionate revenue growth on group level of 89% YoY in Q3 2021 $Q3'20$ $Q3'21$ $Q3'20$ $Q3'21$ $Q3'20$ $Q3'21$ Total Segment Revenue is defined as revenue in accordance with IFRS 15, excluding the effect of vouchers and other discounts. Difference between total segment revenue and the sum of segment revenues is mainly due to $1.$

Q3 2021 Group

intersegment consolidation adjustments for services charged by the Platform Businesses to the Integrated Verticals Businesses (Q3 2021: €-38.0m). All values including Woowa and excluding Delivery Hero Korea.

1. Includes reported current growth rates for Argentina and Lebanon in the constant currency calculation due to the effects of hyperinflation in Argentina and Lebanon.

Q3 2021 Asia Platform Business

Growing Asia segment is now contributing 48% to Total Segment Revenues

Contribution margin in own-delivery has significantly improved YoY and is at break-even in Asia¹ after vouchers for the first time

Increasing basket sizes across all major APAC Ð countries with steady development in South Korea

Break-even of a second large Asian market on adjusted EBITDA level including group costs. Further improvement in profitability to be expected in the near-term

Q3 2021 MENA Platform Business

MENA revenues, adjusted EBITDA, Gross Merchandise Value (GMV) as well as the respective growth rates are impacted by the Lebanese operations qualifying as hyperinflationary economy according to IAS 29 beginning October 202 In Q3 2021, GMV & revenues have been retrospectively adjusted with a total impact of +€2.2m and +€0.8m, respectively.

1. Includes reported current growth rates for Lebanon in the constant currency calculation due to the effects of hyperinflation in Lebanon.

Q3 2021 Europe Platform Business

Strong GMV growth of 54% YoY in Q3 2021 (on a like-for-like basis) despite reopening and gradual easing of COVID restrictions

Revenue growth of 74% on a like-for-like basis. Own-delivery share increased to 32% in Q3 2021 $(Q3 2020: 24%)$

Divestment of the Balkan businesses in Serbia, Bosnia, Montenegro and Bulgaria was closed in June. Romania expected to close in Q1 2022

1. On 26 May 2021, Delivery Hero announced the divestment of certain operations in the Balkan region. During the course of 2020, this perimeter had GMV of € 195 million, net revenues of € 37 million and a negative adjuste million. The transaction in Romania is expected to close in Q1 2022, subject to the fulfillment of certain conditions precedent and relevant required regulatory approvals.

Q3 2021 Americas Platform Business

Americas revenues, adjusted EBITDA, Gross Merchandise Value (GMV) as well as the respective growth rates are impacted by the Argentinian operations qualifying as hyperinflationary economy according to IAS 29 beginning 1 Se Q3 2021 GMV & revenues have been retrospectively adjusted with a total impact of +€36.5m and +€6.3m, respectively.

1. Includes reported current growth rates for Argentina in the constant currency calculation due to the effects of hyperinflation in Argentina.

Q3 2021 Integrated Verticals

Segment Orders (m) $GMV$ ( $\epsilon$ m) Revenue (€m) YoY growth rates in red are constant currency and in black are reported currency

Integrated Verticals revenues, adjusted EBITDA, Gross Merchandise Value (GMV) as well as the respective growth rates are impacted by the Argentinian operations qualifying as hyperinflationary economy according to IAS 29 be 1 September 2018. In Q3 2021 GMV & revenues have been retrospectively adjusted with a total impact of +€0.9m and +€0.8m, respectively.

1. The agent business with local vendors is captured in the platform business segments. DH Kitchens is capturing various types of kitchen models.

Rising Contribution Margin on Group Level

Contribution Margin¹ of Own-Delivery (Before Voucher Costs²) as a % of GMV Values excluding Delivery Hero Korea and not yet including Woowa

Contribution margin relates to Platform business and includes the costs of the physical delivery of the order as well as the transmission and support costs of the order (i.e. payment costs, dispatching costs, customer supp

The contribution margin shown above differs from IFRS gross profit, because the former excludes certain non-commission revenue like advertising revenues, whereas the latter excludes i.e. customer support costs, bad debt ex

1. Voucher costs correspond to marketing initiatives to incentivize the acquisition of new users or the retention of existing users.

Almost all 4 Segments with Positive Margin After Vouchers 20

Contribution Margin¹ of Own-Delivery (After Voucher Costs²) as a % of GMV Values excluding Delivery Hero Korea and not yet including Woowa

Contribution margin relates to Platform business and includes the costs of the physical delivery of the order as well as the transmission and support costs of the order (i.e. payment costs, dispatching costs, customer supp

The contribution margin shown above differs from IFRS gross profit, because the former excludes certain non-commission revenue like advertising revenues, whereas the latter excludes i.e. customer support costs and bad debt

1. Voucher costs correspond to marketing initiatives to incentivize the acquisition of new users or the retention of existing users.

Investment Portfolio Creates Long-Term Optionality

Portfolio supports in building a network to peer companies and to explore ways to collaborate, extend our know-how or drive consolidation

Already generated very attractive returns in the double-digit and sometimes even in the tripledigit percentages

		2020							2021
in €m	Q 1	Q 2	H 1	Q 3	Q 4	F Y	Q 1	Q 2	H 1	Q 3
Delivery Hero Group
Orders	352.2	408.1	760.3	520.5	610.1	1,890.8	662.8	730.3	1,393.1	791.4
% YoY Growth	85.8%	88.0%	87.0%	98.6%	96.3%	93.0%	88.2%	78.9%	83.2%	52.0%
% OD Orders	38.1%	45.9%	42.3%	46.6%	47.3%	45.1%	47.9%	49.9%	48.9%	49.8%
GMV1,2	4,240.0	4,815.3	9,055.3	5,804.0	6,946.4	21,805.8	7,769.7	8,388.8	16,158.5	9,562.6
% YoY Growth (RC)3	61.4%	66.7%	64.2%	75.9%	81.3%	72.4%	83.2%	74.2%	78.4%	64.8%
% YoY Growth (CC)4	63.9%	69.6%	66.9%	85.5%	91.0%	79.0%	92.2%	80.8%	86.1%	64.6%
Revenue1,2	631.3	757.5	1,388.8	946.3	1,152.6	3,487.7	1,351.6	1,549.9	2,901.6	1,788.7
% YoY Growth (RC)3	96.7%	102.7%	99.9%	107.8%	101.5%	102.5%	114.1%	104.6%	108.9%	89.0%
% YoY Growth (CC)4	97.2%	105.0%	101.4%	119.4%	114.8%	110.6%	127.0%	115.1%	120.5%	89.9%
Intersegment consolidation5	(1.0)	(2.7)	(3.8)	(4.9)	(9.5)	(18.2)	(19.2)	(35.2)	(54.5)	(38.0)
Adj. EBITDA1,2			(323.5)			(590.2)			(332.3)
EBITDA Margin % (GMV)			-3.6%			-2.7%			-2.1%
Asia
Orders	223.3	284.4	507.7	347.8	399.1	1,254.5	430.6	485.5	916.1	540.0
% YoY Growth	134.0%	151.5%	143.5%	133.6%	117.9%	132.1%	92.9%	70.7%	80.5%	55.3%
% OD Orders	39.3%	46.8%	43.5%	47.6%	47.5%	45.9%	47.4%	49.9%	48.7%	48.2%
GMV	2,800.6	3,323.5	6,124.1	3,870.1	4,661.9	14,656.0	5,129.4	5,588.6	10,718.0	6,659.9
% YoY Growth (RC)3	82.4%	97.5%	90.3%	95.2%	96.8%	93.6%	83.2%	68.2%	75.0%	72.1%
% YoY Growth (CC)4	86.0%	100.2%	93.5%	103.3%	102.5%	98.8%	88.3%	71.0%	78.9%	70.0%
Revenue	290.8	391.0	681.8	450.1	541.7	1,673.6	620.1	720.2	1,340.4	853.7
% YoY Growth (RC)3	141.5%	175.0%	159.6%	135.2%	102.1%	131.8%	113.2%	84.2%	96.6%	89.7%
% YoY Growth (CC)4	141.4%	174.8%	159.5%	143.6%	109.6%	136.8%	121.5%	90.2%	103.5%	88.4%
Adj. EBITDA			(205.8)			(406.2)			(202.2)
EBITDA Margin % (GMV)			-3.4%			-2.8%			-1.9%
MENA
Orders	84.7	66.5	151.2	107.7	127.4	386.3	140.0	147.9	287.9	159.2
% YoY Growth	31.3%	-5.9%	11.9%	40.0%	47.3%	29.4%	65.2%	122.4%	90.4%	47.8%
% OD Orders	35.1%	41.6%	38.0%	40.6%	41.3%	39.8%	43.9%	43.7%	43.8%	48.4%
GMV1,2	956.8	822.1	1,778.9	1,206.3	1,350.4	4,335.6	1,537.7	1,617.3	3,155.0	1,763.4
% YoY Growth (RC)3	28.5%	1.0%	14.1%	30.0%	36.3%	24.7%	60.7%	96.7%	77.4%	46.2%
% YoY Growth (CC)4	28.1%	2.4%	14.7%	43.8%	57.1%	34.5%	83.2%	123.8%	102.0%	52.0%
Revenue1,2	202.3	165.9	368.1	246.2	279.9	894.3	325.5	359.3	684.9	418.5
% YoY Growth (RC)3	40.6%	1.0%	19.5%	27.5%	30.3%	24.9%	60.9%	116.6%	86.0%	70.0%
% YoY Growth (CC)4	38.4%	1.0%	18.5%	37.7%	45.3%	31.7%	79.4%	142.4%	107.8%	74.2%
Adj. EBITDA1,2			18.8			98.6			65.0
EBITDA Margin % (GMV)			1.1%			2.3%			2.1%

1. Americas and MENA revenues, adjusted EBITDA, Gross Merchandise Value (GMV) as well as the respective growth rates are impacted by the Argentinian and Lebanese operations qualifying as hyperinflationary economies according to IAS 29 beginning 1 September 2018 and October 2020 respectively.

2. Includes Reported Currency growth rates for Argentina and Lebanon in the Constant Currency calculations due to the effects of hyperinflation in the respective countries.

3. RC = Reported Currency Growth / CC = Constant Currency Growth.

4. Difference between total segment revenue and the sum of segment revenues is mainly due to intersegment consolidation adjustments for services charged by the Platform Businesses to the Integrated Verticals Businesses.

	2020							2021
in €m	Q 1	Q 2	H 1	Q 3	Q 4	F Y	Q 1	Q 2	H 1	Q 3
Europe
Orders	25.4	30.6	56.0	32.0	40.6	128.7	47.0	49.8	96.8	43.3
% YoY Growth	32.9%	47.4%	40.4%	54.8%	66.4%	51.4%	84.7%	62.8%	72.7%	35.1%
% OD Orders	19.0%	26.3%	23.0%	25.8%	28.3%	25.4%	31.4%	33.4%	32.4%	31.7%
GMV	320.5	420.3	740.8	426.4	570.3	1,737.5	682.4	718.7	1,401.1	625.9
% YoY Growth (RC)3	38.1%	69.1%	54.1%	65.0%	84.9%	65.9%	112.9%	71.0%	89.1%	46.8%
% YoY Growth (CC)4	40.0%	72.8%	57.0%	66.9%	86.8%	68.2%	112.6%	68.3%	87.5%	45.8%
Revenue	57.5	76.1	133.6	80.4	109.1	323.1	136.6	149.3	285.9	132.7
% YoY Growth (RC)3	55.6%	84.4%	70.8%	88.1%	108.5%	86.4%	137.5%	96.3%	114.0%	65.2%
% YoY Growth (CC)4	58.3%	89.7%	74.9%	90.8%	111.0%	89.7%	136.5%	92.0%	111.2%	63.6%
Adj. EBITDA			(7.9)			(2.2)			1.0
EBITDA Margin % (GMV)			-1.1%			-0.1%			0.1%
Americas
Orders	18.7	26.6	45.3	33.0	43.0	121.3	45.2	47.1	92.3	48.9
% YoY Growth	79.2%	111.2%	96.7%	112.0%	156.4%	119.1%	141.4%	77.1%	103.6%	48.2%
% OD Orders	62.5%	70.8%	67.3%	76.2%	81.9%	74.9%	83.4%	86.3%	84.9%	88.4%
GMV1,2	162.1	249.4	411.5	301.3	363.8	1,076.6	420.1	464.3	884.4	513.4
% YoY Growth (RC)3	41.5%	74.8%	60.0%	129.6%	120.2%	94.5%	159.2%	86.1%	114.9%	70.4%
% YoY Growth (CC)4	48.3%	85.4%	68.9%	148.7%	136.4%	108.0%	172.6%	90.9%	123.0%	71.8%
Revenue1,2	37.8	57.2	95.0	72.5	89.9	257.4	107.0	119.9	226.9	131.9
% YoY Growth (RC)3	93.0%	119.5%	108.1%	157.4%	145.6%	133.1%	182.8%	109.6%	138.8%	82.1%
% YoY Growth (CC)4	102.8%	132.5%	119.7%	178.0%	163.5%	149.1%	196.7%	114.7%	147.4%	83.4%
Adj. EBITDA1,2			(79.1)			(143.1)			(80.2)
EBITDA Margin % (GMV)			-19.2%			-13.3%			-9.1%
Integrated Verticals
Orders	4.3	6.1	10.4	10.1	14.2	34.7	17.0	21.5	38.4	25.4
% YoY Growth							296.1%	249.4%	268.6%	151.0%
GMV	45.7	72.3	118.0	103.8	148.9	370.7	190.7	250.3	440.9	310.9
% YoY Growth (RC)3							317.4%	246.2%	273.8%	199.6%
% YoY Growth (CC)4							354.8%	271.2%	303.6%	204.1%
Revenue	43.8	70.1	113.9	102.1	141.4	357.4	181.6	236.4	418.0	289.8
% YoY Growth (RC)3							314.6%	237.3%	267.0%	183.8%
% YoY Growth (CC)4							351.7%	263.3%	297.3%	187.6%
Adj. EBITDA			(49.4)			(137.2)			(115.8)
EBITDA Margin % (GMV)			-41.9%			-37.0%			-26.3%

Orders and GMV are accounted for in the respective Platform segments and shown in the Integrated Verticals segment for illustrative purposes only

1. Americas and MENA revenues, adjusted EBITDA, Gross Merchandise Value (GMV) as well as the respective growth rates are impacted by the Argentinian and Lebanese operations qualifying as hyperinflationary economies according to IAS 29 beginning 1 September 2018 and October 2020 respectively.

2. Includes Reported Currency growth rates for Argentina and Lebanon in the Constant Currency calculations due to the effects of hyperinflation in the respective countries.

3. RC = Reported Currency Growth / CC = Constant Currency Growth.

Definitions

• Gross Merchandise Value (GMV) is the total value paid by customers (including VAT, delivery fees, other fees and subsidies).
• Total Segment Revenue is defined as revenue in accordance with IFRS 15, excluding the effect of vouchers and other discounts.
• Constant currency provides an indication of the business performance by removing the impact of foreign exchange rate movements. Due to hyperinflation in Argentina and Lebanon we have included reported current growth rates for Argentina and Lebanon in the constant currency calculation to provide a more accurate picture of the underlying business.
• MENA revenues, adjusted EBITDA, GMV as well as the respective growth rates are impacted by the Lebanese operations qualifying $\bullet$ as hyperinflationary economy according to IAS 29 beginning October 2020.
• Americas revenues, adjusted EBITDA, GMV as well as the respective growth rates are impacted by the Argentinian operations qualifying as hyperinflationary economy according to IAS 29 beginning 1 September 2018.
• Contribution margin relates to Platform business and includes the costs of the physical delivery of the order as well as the transmission and support costs of the order (i.e. payment costs, dispatching costs, customer support).

Investor Relations Contact

Important Notice

• For the purposes of this notice, "presentation" means this document, its contents or any part of it. This presentation 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 part of it form the basis of or be relied upon in connection with or act as any inducement to enter into any contract or commitment or investment decision whatsoever.
• This presentation is neither an advertisement nor a prospectus and should not be relied upon in making any investment decision to purchase, subscribe for or otherwise acquire any securities. The information and opinions contained in this presentation are provided as at the date of this presentation, are subject to change without notice and do not purport to contain all information that may be required to evaluate Delivery Hero SE. Delivery Hero SE undertakes no obligation to update or revise this presentation. No reliance may or should be placed for any purpose whatsoever on the information contained in this presentation, or any other information discussed verbally, or on its completeness, accuracy or fairness.
• 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. Neither Delivery Hero SE nor any of its directors, officers, employees, agents or affiliates 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 any additional information.
• The presentation and discussion contain forward looking statements, other estimates, opinions and projections with respect to anticipated future performance of Delivery Hero SE ("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", "aims", "plans", "predicts", "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 Delivery Hero SE's intentions, beliefs or current expectations concerning, among other things, Delivery Hero SE's prospects, growth, strategies, the industry in which it operates and potential or ongoing acquisitions. By their nature, Forward-looking Statements involve significant risks and uncertainties, because they relate to events and depend on circumstances that may or may not occur in the future. Forward-looking Statements should not be read as quarantees of future performance or results and will not necessarily be accurate indications of whether or not such results will be achieved. Similarly, past performance should not be taken as an indication of future results, and nor representation or warranty, express or implied, is made regarding future performance. The development of Delivery Hero SE's prospects, growth, strategies, the industry in which it operates, and the effect of acquisitions on Delivery Hero SE may differ materially from those made in or suggested by the Forward-looking Statements contained in this presentation or past performance. In addition, even if the development of Delivery Hero SE's prospects, growth, strategies and the industry in which it operates are consistent with the Forward-looking Statements contained in this presentation or past performance, those developments may not be indicative of Delivery Hero SE's results, liquidity or financial position or of results or developments in subsequent periods not covered by this presentation. Any Forward-Looking Statements only speak as at the date of this presentation is provided to the recipient and it is up to the recipient to make its own assessment of the validity of any Forward-looking Statements and assumptions. No liability whatsoever is accepted by Delivery Hero SE in respect of the achievement of such Forward-looking Statements and assumptions.