home24 SE

Investor Presentation • Feb 9, 2021

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home24 Q4 & FY 2020 Trading Update

9 February 2021

Management summary, FY 2020 preliminary unaudited figures

Order intake growth accelerated to 58% in Q4 2020, raising FY 2020 growth to 46% YoY. January trading with continued strong momentum in order intake of +70% YoY (all in CC).

Q4 revenue growth of 50% brings FY 2020 to 42% and thus upper end of guidance range (in CC, last upgraded Nov 11th). Q4 adj. EBITDA at 4% or EUR 6m, leading to FY adj. EBITDA of 3% or EUR 17m (significant improvement of 10pp or EUR 45m YoY).

Financial year 2020 cash flow positive, also excluding capital increase of EUR 46m. Cash and cash equivalents at the end of 2020 at EUR 103m (pre Mobly IPO).

Public listing of our Brazilian business Mobly on February 5, to make growth financing more independent from home24. Gross proceeds of c. EUR 121m to Mobly, and up to EUR 24m to home24. Pricing of BRL 21 per share at c. 4x LTM Q3 2020 Sales (in BRL).

Post capital measures, both EU and Latam segments of home24 have more than EUR 100m funds available to invest in accelerated growth, having reached core profitability in 2020.

FY 2021 guidance for revenue and adj. EBITDA will be communicated with the publication of audited financials on March 31st, to best reflect remaining pandemic related uncertainty and strategic growth initiatives initiated post capital measures in both, EU and Brazil.

Today's agenda

Business Update

• Q4 & FY Financials
• Outlook and Q&A

home24 set to continue growth path in favorable market environment: Now > EUR100m dedicated funds for each, EU and LatAm segment

Two successful capital market transactions in the last months:

	home24 SE (Group)	Mobly S.A. (LatAm)
Transaction Type	Capital Increase	IPO (ISIN BRMBLYACNOR5)
Date	Dec 9th 2020	Feb 5th 2021
Offering Price	EUR 17.58	EUR 3.331 (BRL 21.00)
Market Capitalization (Post)	EUR 511m c. 1.1x LTM Q3 2020 sales	EUR 347m1 (BRL 2.236m) c. 4x LTM Q3 2020 sales (in BRL)
Gross Proceeds	EUR 46.4m	EUR 121m Base Primary EUR 5m Base Secondary up to EUR 19m Greenshoe Secondary
Use of Proceeds 1 EUR/BRL exchange rate of 6.45 is applied	● Working capital investment ● Scaling esp. EU non-DACH customer acquisition ● Investments into technology solutions along customer journey ● Further roll-out of go-to-market approach (e.g. showroom concept)	● Strengthen working capital and financing structure ● Accelerate customer acquisition ● Further capex investments in brick and-mortar stores, distribution centers & in-house IT 4 4

EU and LatAm with same "home24" two pillar business model. Mobly uniquely adapted to local particularities

Mobly snapshot:
SOLID GROWTH IN A LARGE MARKET	~EUR 20m Total Addressable Market	~8% Online Penetration	>EUR 100m LTM Q3 2020 Revenues	+40% Revenue (in BRL) CAGR Q416 –Q320
STRONG UNIT ECONOMICS		>41% Gross Margin2	~3% adj. EBITDA Margin2	1.6x First Order Profitability1
	TRUE OMNICHANNEL PLATFORM	COMPLEMENTING MARKETPLACES	BROAD AND DIFFERENTIATED ASSORTMENT	OUTSTANDING LOGISTICS
SOPHISTICATED BUSINESS MODEL	90% of Revenue Through Online Channels2	73% of Total Revenues in own channels2	+200k SKUs4	39% Two Day Shipping3
	10% "Phygital" Stores2	27% of Total Revenues With External Marketplaces2	39% From Private Label 2	39% Own Last Mile 2

¹Initial CAC Recovery average in 2020 through Sep ²Realized figures for 9m 2020

³Considers only business days for 9m 2020

⁴As of Sep 30th, 2020

Meanwhile, we have gone CO2 neutral in Europe and committed to cut scope 1 & 2 emissions by 75% until 2024

home24 becomes a climate action pioneer for online furniture

• We have measured the CO2 footprint for all internal activities of home24 for scope 1, 2 & 3¹and external logistics, i.e. all emissions that occur between collection from factories and delivery to European customers
• The results will be used to enable the setup, implementation and tracking of specific reduction measures.
  • home24 EU is offsetting its footprint with five WWF gold standard carbon offsetting projects² ,located in Honduras, Peru, Borneo, Rwanda and India.
  • We commit to not only compensate but to reduce carbon emissions and have set the ambitious goal to cut scope 1 & 2 by 75% until 2024.
• Mobly S.A. is in parallel defining their own climate action strategy.

¹According to the GHG Protocol Corporate Value Chain Standard, excluding the activities of Mobly in Brazil. The calculation is also certified by TÜV Rheinland. ²All projects have been certified by the Gold Standard or the VCS Standard and contribute to different Sustainable Development Goals

Q4 2020 order intake growth accelerated to 58%, bringing FY 2020 growth to 46% (all CC)

GOV in EURm, Active customers and Total gross orders in k, Average order value in EUR

• home24 further accelerates growth at 58% YoY GOV in Q4 2020.
• Milestone of +2m active customers surpassed with now 2.2m active customers.
• Further FX impact due to decrease in BRL/EUR weighing on real currency basket size and growth rate.

All figures preliminary and unaudited

Q4 revenue growth of 50% (in CC) taking FY to 42%, adj. EBITDA at 4%, taking FY to EUR 17m, a YoY improvement of EUR 45m

Revenue in EURm and Growth YoY in %, preliminary unaudited financials

Adj. EBITDA in EURm and in % of Revenue, preliminary unaudited financials

Segment reporting of EU and LatA to follow with publication of annual report 2020 report due to regulatory requirements (silent period) post Mobly IPO

• Both segments broadly contributed in a similar way to FY growth of 42% in CC.
• Certain spillover of Q4 order intake into Q1 revenue due to significantly longer delivery times.
• Another strong quarter with adj. EBITDA margin of 4%.
• Strong >40% FY revenue growth paired with >10pp adj. EBITDA margin improvement lead to EUR 45m profitability increase.
• Improvements across all P&L line items to a similar extend (2-4pp each in COGS, Fulfillment Expenses, Marketing Expenses and SG&A).

Cash and cash equivalents ended 2020 at above EUR 100m. FY 2020 cash flow positive also excl. capital increase of EUR 46m

Cash flow FY 2020 in EURm

• Positive operating cash flow in all quarters 2020, with total +EUR 32m in 2020, solid basis for continuously improved cash position.
• Due to the 10% capital increase executed in Dec cash level of more than EUR 100m.
• 1 ▪ Cash inflows from Working Capital esp. in Europe significantly increased due to low stock levels. This is expected to partly reverse in 2021, once delivery times decrease again and growth trajectory stabilizes.

Outlook

• Home24 has laid the foundation of further growth with the capital increase and the Mobly IPO. With EUR >100m funds dedicated to both EU and Latam, we will step up deliberate investments into Working Capital, customer acquisition and Capex.
• While we see our terminal margin profile of low double digit adj. EBITDA margins confirmed by recent profitability improvements (>10pp YoY FY 2020), we believe the market opportunity is attractive to accelerate growth and take market share.
• January trading with continued strong momentum in order intake (>70% YoY). Yet, uncertainty around COVID-19 pandemic prevails both on demand and supply side.
• Backed by the active customer base of > 2.2 million and the ability to step up marketing expenses having reached core break-even, we are in a good position to deliver significant IFRS growth in 2021 despite strong YoY comparables.
• FY guidance ranges for 2021 Revenue and adj. EBITDA are to be set with the publication of audited financials on March 31st, to best reflect the strategic initiatives post capital measures and the COVID-related uncertainty.

home24 remains uniquely positioned to exploit the vast Home & Living opportunity, even more than before the COVID pandemic

Market

Huge market opportunity characterized by low online penetration with huge catchup potential, accelerated by consumer behaviour during the COVID pandemic

Value chain

Scalable and automated value chain that delivers sustainable scale effects

Customer value proposition

Best value offering and most relevant selection brought to life in a customer centric go-tomarket approach

Data & Technology

Pioneering technologies improve shopping experience and empower data-driven decisions

Financial calendar – upcoming events

KPI definitions

KPI	Definition
Gross order value [in EUR]	Defined as the aggregated gross order value of the orders placed in the respective period, including VAT and without factoring in cancellations and returns as well as subsequent discounts and vouchers
Number of active customers [#]	Defined as the number of customers that have placed at least one non-canceled order in the 12 months prior to the respective date, without factoring in returns
Total gross orders	Defined as the number of orders placed in the relevant period, regardless of cancellations or returns
Average order value [in EUR]	Defined as the aggregated gross order value of the orders placed in the respective period, including VAT, divided by the number of orders, without factoring in cancellations and returns as well as subsequent discounts and vouchers
Growth at constant currency (CC)	Defined as growth using constant BRL/EUR exchange rates from the previous year
Adjusted EBITDA [in EUR]	EBITDA defined as the sum of operating result (EBIT) and depreciation and amortization. Adjusted for share-based compensation expenses and costs incurred in connection with the listing of existing shares and other one-off expenses, mainly service fees for legal and other consulting services associated with the IPO

Disclaimer

This presentation has been prepared by home24 SE (the "Company"). All material contained in this document and the information presented is for information purposes only and does not purport to be a full or complete description of the Company and its affiliated entities. This presentation must not be relied on for any purpose.

This presentation contains forward-looking statements. These statements are based on the current views, expectations, assumptions and information of the management of the Company. Forward-looking statements should not be construed as a promise of future results and developments and involve known and unknown risks and uncertainties. Various factors could cause actual future results, performance or events to differ materially from those described in these statements, and neither the Company nor any other person accepts any responsibility for the accuracy of the opinions expressed in this presentation or the underlying assumptions. The Company does not assume any obligationsto update any forward-looking statements.

This presentation contains certain financial measures that are not calculated in accordance with IFRS and are therefore considered "non-IFRS financial measures". The management of the Company believes that these non-IFRS financial measures used by the Company, when considered in conjunction with, but not in lieu of, other measures that are computed in accordance with IFRS, enhance an understanding of the Company's results of operations, financial position and cash flows. A number of these non-IFRS financial measures are also commonly used by securities analysts, credit rating agencies and investors to evaluate and compare the periodic and future operating performance and value of other companies with which the Company competes. These non-IFRS financial measures should not be considered in isolation as a measure of the Company's profitability or liquidity, and should be considered in addition to, rather than as a substitute for, income data or cash flow data prepared in accordance with IFRS. In particular, there are material limitations associated with the use of non-IFRS financial measures, including the limitations inherent in determination of each of the relevant adjustments. The non-IFRS financial measures used by the Company may differ from, and not be comparable to, similarly-titled measures used by other companies.

Certain numerical data, financial information and market data, including percentages, in this presentation have been rounded according to established commercial standards. Furthermore, in tables and charts, these rounded figures may not add up exactly to the totals contained in the respective tables and charts.