The Platform Group AG

Investor Presentation • Oct 19, 2023

INTRODUCING THE PLATFORM GROUP

19 October 2023

THE CAPITAL MARKET PRESENTATION TODAY

	SECTIONS	SPEAKER	TIME
1.	TPG OVERVIEW	Dr. Dominik Benner	11:00
2.	WHAT DO WE DO?	Dr. Dominik Benner	11:30
3.	SEGMENT OVERVIEW	Dr. Dominik Benner, Laura Vogelsang	12:30
Q&A Session
4.	MARKET OVERVIEW	Dr. Dominik Benner	13:00
5.	FINANCIALS	Reinhard Hetkamp	13:15
6.	STRATEGY & OUTLOOK	Dr. Dominik Benner	13:45
Q&A Session

THE PLATFORM GROUP OVERVIEW

OUR MANAGEMENT STRUCTURE

Segments

Consumer Goods Freight Goods Industrial Goods Service and Retail Goods

Dr. Dominik Benner CEO

• TPG since 2012
• 5th generation family business

• 15 years eCommerce

Laura Vogelsang Mgmt. Board

• fashionette since 2018

• 10 years eCommerce & payment

• Responsibilities: Risk, Payment, HR

Reinhard Hetkamp CFO

▪ >20 years experience in various finance roles inc. various CFO positions

Management Board

Stefan Schütze (Chairman)

• Supervisory Board
• Rolf Sigmund
• Jens Wasel
• Dominik Barton
• Florian Müller

CFO fashionette AG

TPG PRO-FORMA CONSOLIDATED GUIDANCE

We are highly confident of achieving our targets

WHAT WE DO

1 We check and produce content at products place

2

We check quality and optimize pricing

3

We use our software and take it on our platform → Selling it worldwide

4

We make the full logistic, tax, customs and installation

WHAT WE DO

We check and produce content at products place

We make pricing (marginbased)

We use our software and take it on our platform → Selling EUwide to local dentists

We make the full logistic, tax, customs and installation

PRO FORMA SHAREHOLDER STRUCTURE

The Benner Holding as a single family office operates in a diversified range of sectors including Real Estate, Trade, Investments, e-Commerce, Agriculture and Energy and was founded in 1882

The Management Board of TPG is exploring options to substantially increase liquidity in The Platform Group in order to facilitate the daily trading of shares

fashionette shares	6,200,000
Capital increase vs TPG contribution in kind	11,073,852
Total TPG AG outstanding shares	17,273,852
Current authorised share capital	8,636,926

THE PLATFORM GROUP'S HISTORY

MISSION-STATEMENT

To be Europe's leading, profitable Platform Group

Bringing together the best characteristics of Software & e-Commerce companies

• Typically low profit margin
• Significant logistics costs
• Typically one sector focus

Marketing & sales costs

Typically high profit margin

PLATFORM GROUP

• Higher margin / less costs
• Diversified / pan sector
• Sustainable revenue base
• Limited logistics &
• marketing costs

INVESTMENT HIGHLIGHTS

Track record of successful platform acquisitions

Scalable software solution driving massive customer growth

Market tailwinds from Post-COVID recovery and online penetration trends

Leading profitability

Exciting future growth opportunities including acquisitions

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6

2

3

4

5

5,262 Partners (CAGR +36% from 2019-2023)
21 Acquisitions since 2018
2.87 million Customers (CAGR +53% from 2019-2022)
Double digit Growth in online retail
€20m Adj. EBITDA Guidance for 2023, 7-10% margin Guidance mid-term
3-8 Acquisitions per year

WHAT DO WE DO?

WE ARE A SOFTWARE SPECIALIST THAT OFFERS FULL E-COMMERCE ACCESS TO SMALL & MEDIUM BUSINESS PARTNERS

Technology and marketing enables TPG to accompany their partners along the entire journey

OUR PARTNERS HAVE CONSISTENTLY GROWN

LOCAL PARTNERS GET ACCESS TO NEW GLOBAL CUSTOMER BASE VIA MULTIPLE PLATFORMS AND ALL PROCESSES MANAGED BY TPG

OUR PARTNERS GAIN ACCESS TO A LARGE AND GROWING CUSTOMER BASE WHICH DRIVES GMV

TRACK RECORD OF NEW PLATFORMS & ACQUISITIONS

SCALABILITY: INTERACTION OF GROWTH DRIVERS

WE SEAMLESSLY INTEGRATE OUR CUSTOM PROPRIETARY SOFTWARE WITH A MULTITUDE OF ERP INTERFACES

Technology and marketing enables TPG to accompany their partners along the entire journey

Segment Overview

THE PLATFORM GROUP: SEGMENT OVERVIEW

Industrial Goods Service & Retail

Consumer Goods		Freight Goods
Products with simple logistics and focus on consumer goods Shoes Fashion Accessories Jewelry and Watches		Products with complex transport, logistics and delivery processes in the area of freight logistics Furniture Bicycles E-Scooters Cars

B2B focus on industrial goods and industrial solutions

Dental equipment

• Hairdressing supplies
• Car/truck parts trade
• Industrial supplies

Products and services that are remunerated on the basis of performances

• • Platform for local pharmacies Platform for pharmaceutical manufacturers
  • Online learning platforms
  • Factoring and real estate platform
  • Local Stores

PLATFORM DEMONSTRATION

FASHIONETTE (CONSUMER GOODS SEGMENT)

FACTS & FIGURES*

• 350 Brands

• 1 Mio. active customers

• 14 European Countries

• 15 Years of e-Commerce expertise

• ~ EUR 165 Mio. revenue
• EUR 347 Mio. GMV

The ambition is to make fashionette a platform company for luxury

Facilitate strategic collaboration in platform strategy, marketing and sales, technology and software development

TPG's existing B2B software can be used to connect partners across Europe with their ERP systems

FASHIONETTE (CONSUMER GOODS SEGMENT)

Reason for the merger of fashionette and The Platform Group

STRATEGIC DEVELOPMENT

CAPITAL MARKET PROFILE

Focus on strengthening the capital market profile

Enable a profitable equity story

CONSIDERABLE SYNERGY POTENTIAL

Sales synergies and cross-selling potential

Network effects in the TPG platform network

Cost synergies

Synergies in the area of software, ERP interfaces and AI

STRATEGIC PRIORITIES AND ACHIEVEMENTS

Building a leaner and more efficient organization

Product categories beauty and smartwatches discontinued

Cost reduction and efficiency program launched

Entering the luxury fashion market

Implementation of the necessary technology and processes

Onboarding of merchants started

Consistent focus of the fashionette group on luxury products

fashionette will constantly integrate new luxury products on its platforms

Operating result increased (adjusted EBITDA) to EUR 1.5 Mio. (1H22: EUR 0,5 Mio.)

Outlook increased (adjusted EBITDA) to EUR 5 to EUR 6 Mio. (before: EUR 2 - EUR 3 Mio.)

Start of Platform Business on the 21. September 2023

150 Shops connected

700€ average order value

Low-priced products removed

Consistent de-listing of lowmargin brands and items

Facelift of the webshop

Market Overview

GERMAN DIGITAL STRATEGY DRIVING THOUSANDS OF SME BUSINESSES ONLINE

MARKET TAILWINDS: ONLINE PENETRATION

Source: HDE Online Monitor 2023 Noe: Numbers relate to German retail market

Still plenty of room for online growth with significant differences amongst sectors

Share of online sales within sub-markets (% of total German market size in 2022) = sub-markets TPG is involved in

MARKET TAILWINDS: E-COMMERCE AND TECHNOLOGY

Source: HDE Online Monitor 2023 Noe: Numbers relate to German retail market

Financials

AT A GLANCE – KEY PRO-FORMA NUMBERS

STRONG REVENUE GROWTH

LEADING PROFITABILITY

TERM

CURRENT DEBT SITUATION + OUTLOOK

TPG is exploring all options to simplify its financing structure including possible debt and / or equity refinancing

	30.08.2023	31.12.2023E
Cash + Cash equivalents	€ 17.9m	€ 7.1m
Long term Debt	€ 32.4m	€ 28.7m
Short term Debt	€ 52.4m	€ 30.2m
Net Debt	€ 66.9m	€ 51.8m
ViveLaCar Debt*	€ 29.9m	€ 23.4m
Net Debt excluding ViveLaCar	€ 37.0m	€ 28.4m
LTM EBITDA	€ 19.2m	€ 20m
Leverage	3.5x	2.6x

Strategy

OUR CORE STRATEGY

Source: Company

ESTABLISH EXCELLENT PLATFORMS

Our growth always results from a logical, interlocking cycle:

The higher number of customers generates more sales, both for us and for the partners

Due to the increasing income, we are developing further software solutions around our model

OUR FUTURE STRATEGY

LEADING POSITION

Becoming the No.1 Platform in Europe

Organic growth higher than market

POWER OF SCALE NEW MARKETS

CONTINUED M&A EXPANSION

GEOGRAPHICAL EXPANSION

Expanding into 30 industries by 2025

3-8 Acquisitions per year

Long-term goal of 50% organic / 50% inorganic growth

Increasing geographical footprint outside of Germany

Near-term France and Italy, long-term U.S. and India

ACQUISITION PIPELINE

Industry with proven platform potential

Sales track record (no early stage or seed investments)

Relevant sales (min. € 1m)

EBITDA positive

Min. 3 years commitment of executive directors

High IT competence / Software knowledge

Strong innovation culture

Acquisition Criteria

3-8 Acquisitions per year mid term guidance

21 Acquisitions since 2018 successfully completed and integrated

THANK YOU!

PRO-FORMA CONSOLIDATED INCOME STATEMENT

Pro-Forma Consolidated Income Statement
Tsd. EUR	31.12.2021	31.12.2022	30.06.2023
Sales	240.707,08	333.173,19	163.905,25
Other own work capitalized	1.956,54	3.459,64	5.258,72
Cost of materials	-160.097,37	-226.145,27	-105.290,50
Personnel expenses	-16.396,53	-24.041,15	-14.177,19
Other operation result	-58.793,83	-76.005,56	-39.985,00
Adj. EBITDA	7.375,89	10.440,85	9.711,70
D&A	-5.123,50	-9.370,22	-4.090,70
Earning before interest and taxes (EBIT)	2.252,39	1.070,63	5.621,00
Interest and similar income	209,17	422,74	150,00
Interest and similar expenses	-519,57	-566,02	-1.763,00
Earnings before taxes (EBT)	1.941,99	927,35	4.008,13
Income taxes	-102,57	966,85	-1.239,10
Consolidated earnings	1.839,42	1.894,20	2.769,03

PRO-FORMA CONSOLIDATED BALANCE SHEET

Pro-Forma Consolidated Balance Sheet				Pro-Forma Consolidated Balance Sheet
Tsd. EUR	31.12.2021	31.12.2022	30.06.2023	Tsd. EUR	31.12.2021	31.12.2022	30.06.2023
ASSETS				LIABILITIES
Goodwill	43.653,42	49.376,18	50.777,67	Liability capital	6.200,00	6.200,00	6.200,00
Other intangible assets	18.332,79	22.959,88	41.331,75	Capital reserves	139.038,26	139.545,26	139.545,26
Property, plant and equipment	5.217,62	5.514,69	9.025,86	Generated group equity	0,00	0,00	0,00
Assets from rights of use (depending on amount)	4.476,38	8.204,36	16.420,62	Accumulated other equity	-65.357,17	-45.763,39	-35.368,25
Financial assets	7,79	3.758,22	1.889,95	Equity attributable to shareholders of Platform Group GmbH & Co. KG	79.881,09	99.981,86	110.377,00
Companies accounted (using the equity method)	4,17	1,36	1,36	Non-controlling interests	1.469,37	1.801,25	4.723,12
Income tax	0,00	0,00	175,25	Equity	81.350,46	101.783,11	105.653,88
Deferred income tax assets	355,13	1.575,09	2.415,87	Other accrued liabilities	59,00	81,57	66,29
Non-current assets	72.047,30	91.389,78	122.038,33	Financial liabilities	33.291,38	26.318,24	40.433,09
Inventories	54.750,07	50.077,04	106.992,22	Other liabilities	1.330,94	1.158,63	11.621,03
Trade receivables	24.636,62	25.316,11	39.997,22	Deferred income tax liabilities	8.379,79	8.360,73	8.795,13
Other receivables	11.724,13	9.471,93	23.912,43	Non-current liabilities	43.061,11	35.919,17	60.915,54
Income tax receivables	279,29	1.188,00	1.011,00	Provisions	1.234,63	1.957,14	2.683,82
Cash and cash equivalents	7.532,51	9.236,39	8.184,08	Income tax liabilities	380,06	416,26	131,29
				Financial liabilities	7.794,88	12.954,55	57.380,88
				Trade accounts payable	34.106,78	29.209,63	52.151,84
				Other liabilities	3.042,00	4.439,39	18.495,20
Current assets	98.922,62	95.289,47	180.096,96	Current liabilities	46.558,35	48.976,97	130.843,04
Total assets	170.969,92	186.679,25	302.135,28	Total liability and shareholders' equity	170.969,92	186.679,25	302.135,58

Pro-Forma Consolidated Balance Sheet				Pro-Forma Consolidated Balance Sheet
Tsd. EUR	31.12.2021	31.12.2022	30.06.2023	Tsd. EUR	31.12.2021	31.12.2022	30.06.2023
ASSETS				LIABILITIES
Goodwill	43.653,42	49.376,18	50.777,67	Liability capital	6.200,00	6.200,00	6.200,00
Other intangible assets	18.332,79	22.959,88	41.331,75	Capital reserves	139.038,26	139.545,26	139.545,26
Property, plant and equipment	5.217,62	5.514,69	9.025,86	Generated group equity	0,00	0,00	0,00
Assets from rights of use (depending on amount)	4.476,38	8.204,36	16.420,62	Accumulated other equity	-65.357,17	-45.763,39	-35.368,25
Financial assets	7,79	3.758,22	1.889,95	Equity attributable to shareholders of Platform Group GmbH & Co. KG	79.881,09	99.981,86	110.377,00
Companies accounted (using the equity method)	4,17	1,36	1,36	Non-controlling interests	1.469,37	1.801,25	4.723,12
Income tax	0,00	0,00	175,25	Equity	81.350,46	101.783,11	105.653,88
Deferred income tax assets	355,13	1.575,09	2.415,87	Other accrued liabilities	59,00	81,57	66,29
Non-current assets	72.047,30	91.389,78	122.038,33	Financial liabilities	33.291,38	26.318,24	40.433,09
Inventories	54.750,07	50.077,04	106.992,22	Other liabilities	1.330,94	1.158,63	11.621,03
Trade receivables	24.636,62	25.316,11	39.997,22	Deferred income tax liabilities	8.379,79	8.360,73	8.795,13
Other receivables	11.724,13	9.471,93	23.912,43	Non-current liabilities	43.061,11	35.919,17	60.915,54
Income tax receivables	279,29	1.188,00	1.011,00	Provisions	1.234,63	1.957,14	2.683,82
Cash and cash equivalents	7.532,51	9.236,39	8.184,08	Income tax liabilities	380,06	416,26	131,29
				Financial liabilities	7.794,88	12.954,55	57.380,88
				Trade accounts payable	34.106,78	29.209,63	52.151,84
				Other liabilities	3.042,00	4.439,39	18.495,20
Current assets	98.922,62	95.289,47	180.096,96	Current liabilities	46.558,35	48.976,97	130.843,04
Total assets	170.969,92	186.679,25	302.135,28	Total liability and shareholders' equity	170.969,92	186.679,25	302.135,58

ORGANIZATIONAL STRUCTURE

DISCLAIMER

The Platform Group GmbH & Co. KG Adolfsallee 21 D – 65185 Wiesbaden

IMPORTANT NOTICE This document contains forward-looking statements. These statements reflect the current views, expectations and assumptions of the fashionette AG Management Board and are based on information currently available to the fashionette AG Management Board. Forward-looking statements do not guarantee the occurrence of future results and developments and are subject to known and unknown risks and uncertainties. Actual results and developments may therefore differ materially from the expectations and assumptions reflected in this document due to various factors. These factors include, in particular, changes in general economic conditions and the general competitive environment. In addition, developments on the financial markets and changes in exchange rates as well as changes in national and international laws, in particular with regard to tax regulations, as well as other factors influence the future results and developments of the company. fashionette AG assumes no responsibility, liability or guarantee whatsoever for the correctness of the forward-looking statements in this document or the assumptions on which they are based. fashionette AG undertakes no obligation to update the statements contained in this document.