The Platform Group AG

Earnings Release • Nov 16, 2021

fashionette AG

Q3 2021 RESULTS

16.11.2021

KEY HIGHLIGHTS

Improved customer experience with the new LSP1 leads to an accelerated growth at the end of Q3 and strong start into Q4 with +29% orders shipped in October2

Continuously strong order growth of +25% translates into net revenue growth of +10%3 in Q3 YoY

ಲ್ಲೂಕಿ

Strong active customers growth resulting in 426 thousand customers2 in Q3 2021 or +41% YoY and +92% compared to Q3 2019

Successful integration of Brandfield with accelerated YoY growth throughout Q3 and a 53% own brand revenue share (already 10% on group level in Q3)

Management reiterates 2021 guidance4:

€ 133 - 143m in net revenue and € 3.3 - 4.3m in adj. EBITDA

Numbers include Brandfield from July 1, 2021. In order to ensure the comparability of the results, the Pro Forma for Q3 2020 is provided.

1 LSP - Logistics service provider 2 fashionette only 3 Impacted by end of the month revenue recognition, in accordance with accounting standards. 4 Guidance includes consolidation of Brandfield as of July 1, 2021.

MIGRATION TO NEW LOGISTICS SERVICE PROVIDER (LSP) COMPLETED

IMPROVED CUSTOMER EXPERIENCE LEADS TO ACCELERATED GROWTH: OCTOBER WITH +29% ORDERS SHIPPED YOY

~2 days shipping promise for Germany was successfully reinstalled on September 28th

fashionette AG

BRANDFIELD - SUCCESFUL AND VALUE ACCRETIVE ACQUISITION

fashionette AG

OWN BRANDS - BIG SUCCESS WITH SIGNIFICANT OPPORTUNITIES

OWN BRANDS ALREADY GENERATE ~10% OF THE GROUP'S ORDER SALES

37% in jewelry order sales

42% of order sales, 8 brands, ~2,000 SKUs

• •
• · Control over brand, supply chain and distribution
• Isabel Bernard: Young, feminine designs in gold, following the latest trends active in 4 different categories

+10% NET REVENUE INCREASE DRIVEN BY BRANDFIELD AND ITS CORE REGION BENELUX

Note: All figures unaudited.

* DACH: Germany, Austria, Switzerland. | ** Benelux: Belgium, Netherlands and Luxemburg.

• Sequential improvement throughout the quarter driven by the improved shipping promise on fashionette
• · Strong performance of Brandfield's own brands with almost 3x revenue growth

NEW CUSTOMER GROWTH SIGNIFICANTLY ACCELARETED AT THE END OF Q3 THROUGH FASHIONETTE'S IMPROVED CUSTOMER EXPERIENCE

ACCELERATING GROWTH OF ORDERS FROM NEW CUSTOMERS THROUGHOUT THE QUARTER FOR BRANDFIELD STRONG REBOUND FOR FASHIONETTE AFTER LOGISTICS IMPACT IN JULY AND AUGUST, WITH +2% NEW CUSTOMERS IN SEPTEMBER

Note: All figures unaudited.

ACCELERATING ORDER GROWTH THROUGHOUT THE QUARTER FOR BOTH FASHIONETTE AND BRANDFIELD

BRANDFIELD'S ORDER GROWTH IS DRIVEN BY MAIN CATEGORY JEWELRY AS WELL AS HANDBAGS MARKETING COST PER ORDER DECREASED FOR FASHIONETTE QUARTER-ON-QUARTER

Note: All figures unaudited.

FINANCIAL PERFORMANCE

	Pro Forma
	Q3 2020	Q3 2021	YoY
Returns (in % of total revenue)	-35.7%	-37.7%	-197 bps
(in % of Net revenue)
Gross Margin	38.8%	39.6%	+78 bps
Distribution Cost Ratio	-10.8%	-13.0%	-225 bps
Profit Contribution I	28.0%	26.5%	-147 bps
Marketing Cost Ratio	-10.8%	-14.9%	-413 bps
G&A Ratio	-12.8%	-13.0%	-21 bps
Other Oper. Income Ratio	0.7%	0.6%	-18 bps
Adj. EBITDA Margin	5.1%	-0.9%	-600 bps

Quarterly Details

Q3

Returns

High share of returns for fashionette due to longer delivery times

Gross Margin

Growing share of Brandfield's own brands with significantly higher gross margin

Distribution Cost

Includes storage costs for the inventory build up ahead of Q4, the seasonally strongest quarter of the year

Marketing Cost

Increased marketing costs driven by decreasing efficiency because of the logistics challenges and investments in own brand marketing

Note: All figures unaudited.

GLIMPSE INTO Q4 - BEAUTY LAUNCH

Covering all beauty product categories, including fragrances, make-up as well as body, facial and hair and beauty accessories

fashionette AG

Note: All figures unaudited.

STRONG PERFORMANCE TO DATE IN Q4

AVERAGE DAILY ORDER VALUE

ACCELERATING GROWTH ON BOTH PLATFORMS DRIVEN BY ALL CATEGORIES

* Up to November 12

fashionette AG

RECONFIRMING OUR GUIDANCE FOR THE YEAR

Guidance view. Consolidation of Brandfield as of July 1, 2021.

CONCLUSION

STRONG MOMENTUM INTO Q4	· Strong top line momentum with acceleration towards the end of the quarter • Stellar growth in the number of new customers with +24% in Q3 and +37% in 9M • The first half of Q4 performs above internal expectations
STRATEGIC INITIATIVES SOLIDLY ON TRACK	· Brandfield is a value accretive acquisition, growing international footprint · · Selection expansion1 with +78% SKUs2 and +68% brands2 in October
CONFIDENCE IN OUR PROFITABLE GROWTH POTENTIAL	· Management reiterates the guidance for the full year 2021 • Growing of loyal customer base: +41% active customers' vs Q3 2020 · Strategic initiatives like beauty will play an important role in the tuture

DRIVING PROFITABLE GROWTH, LEVERAGING OUR PLATFORM TO FURTHER OUR STRATEGIC OBJECTIVES AND ENHANCE SHAREHOLDER VALUE

FINANCIAL CALENDAR AND EVENTS

FINANCIAL CALENDAR

Dec 2021	Black Friday Trading Update
Apr 2022	FY 2021 Results

UPCOMING EVENTS

22 - 23 Nov 2021	German Equity forum (virtual)
30 Nov - 1 Dec 2021	Roadshow with Berenberg (virtual)
10 Feb 2022	Hamburg Investor Day by Monteqa (Hamburg)
14 Mar 2022	EU Opportunities Conference - Berenberg (London

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Q&A

RECAPPING FIRST 12 MONTHS SINCE IPO: DRIVING OUR STRATEGIC PRIORITIES TO REALIZE PROFITABLE GROWTH

Note: All figures unaudited. 1 October YTD fashionette only. 2 Pro Forma 2020, including Brandfield.

CASH DEVELOPMENT IN 9M 2021 DRIVEN BY INVESTMENTS IN ORGANIC AND INORGANIC GROWTH

Note: All figures unaudited.

*Cash flow from financing activities is driven by interest payments for the installment plan financing.

1. Final tranche of € 3.3m for the acquisition of Brandfield will be done in Q4

BUILDING STRONG INVENTORY POSITION TO SUPPORT FUTURE GROWTH

Note: All figures unaudited.

Fashionette only

								Fashionette only
											3M 2020	6M 2020	9M 2020 12M 2020	3M 2021	6M 2021	9M 2021 12M 2021
	2019	Q1 2020	Q2 2020	Q3 2020	Q4 2020	2020	Q1 2021	Q2 2021	Q3 2021 Q4 2021	2021
Non-Financial Performance Indicators (unaudited) Unaudited Number of orders (in thousands)1	417	110	133	141	223	608	164	172			110	243	385 608	164	336
Average order value (in EUR)2	306	292	278	262	234	261	252	258			292	284	276 261	252	255
Active customers (in thousands, LTM)3	239	244	270	302	357	357	389	411			244	270	302 357	389	411
New customers (in thousands)5	147	36	50	53	102	240	61	64			36	85	138 240	61	125
Number of employees (average)	136						148

Non-Financial Performance Indicators (unaudited)

							Fashionette only
Non-Financial Performance Indicators (unaudited) Unaudited
Non-Financial Performance Indicators (unaudited) Unaudited			Pro forma Consolidate view			Pro forma Consolidate view
Number of orders (in thousands)1	Q1 2020	Q2 2020	Q3 2020	Q4 2020	2020	Q1 2021	Q2 2021	Q3 2021	Q4 2021	2021	3M 2020	6M 2020	9M 2020	12M 2020	3M 2021	6M 2021	9M 2021 12M 2021
Average order value (in EUR)2	183 207	239 190	226 196	415 163	1,063 184	309 175	311 183	283 179			183 207	422 198	648 197	1,063 184	309 175	619 179	902 179
Active customers (in thousands, LTM)3	244*	270*	302*	737	737	825	873	917			244*	270*	302*	737	825	873	917
New customers (in thousands)5	95	136	119	250	600	168	165	147			95	231	350	600	168	333	480
Number of employees (average)					254

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• 4

FULL YEAR 2020 FINANCIAL RESULTS PRO FORMA

KPI DEFINITIONS

ACTIVE CUSTOMERS	Defined as the number of customers placing at lead order in the last websites on one of the Group's websites or third party marketplaces in the measurement period, irrespective of returns.
ADJ. EBITDA	Defined as earnings before interest, taxes, depreciation excluding extraordinary income / expenses.
AVERAGE ORDER VALUE	Defined as the order value divided by the number of orders in the measurement period.
CUSTOMER ACQUISITON COST	Defined as total marketing costs during a specific period diving the number of new customers acquired during the same period. Customer acquisition cost is calculated at a high level of detail for each marketing activity.
EBITDA	Defined as earnings before interest, taxes, depreciation and amortization.
FREE CASH FLOW / CASH CONVERSION	Defined as hee cash flow divided by adjusted new consist of the cash flow from operating and the cash flow from investing activities. Adjusted net profit consist of net profit excluding extraordinary income / expenses.
MARKETING COST RATIO	Defined as total marketing costs divided by the measurement period. Total marketing costs consist of all marketing related costs including advertising expenses for all marketing channels, content in the diced license res as well as cost tor marketing related tools and all other marketing elated expenses. Total marketing costs do not include salaries.
NET REVENUE	Defined as gross revenue including dunning charges, marketing support less returns and credit notes.
NEW CUSTOMERS	Defined as the number of orders placed by customers which have placed order on one of the Group's websites or third party marketplaces in the measurement period, irrespective of returns.
NUMBER OF ORDERS	Defined as the number of customer orders placed on one of the party marketplaces in the measurement period after cancelations and irrespective of returns. An order is customer places the order. Orders placed and orders delived may offer due to orders that are in transit at the end of the measurement period.
ORDER VALUE	Defined as the total anount spent (excluding WAT) on one of third-party marketplaces by customers in the measurement period after cancelations and irrespective of return.
RETURN RATE (in % OF ORDER VALUE)	Defined as the total amount returned by customers on one of the Company's websites in the mesurement period divided by order value.

DISCLAIMER AND NOTES

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