Just Eat Takeaway.com N.V. — Earnings Release 2016

Nov 11, 2016

Amsterdam, 11 November 2016

3Q 2016 Trading Update

• 45% year-on-year total order growth in Q3 2016
• 30% year-on-year order growth in the Netherlands in Q3 2016
• 47% year-on-year order growth in Germany in Q3 2016
• On track to achieve medium term objectives

Takeaway.com N.V. (AMS: TKWY), hereinafter "Takeaway.com" or the "Company", the leading online food delivery marketplace in Continental Europe, hereby issues an order update for the third quarter of 2016 and year-to-date 2016.

Jitse Groen, CEO of Takeaway.com said: "We continued our growth in the period leading towards our initial public offering, which took place on 30 September 2016. Our team is excited about the progress made in Germany, Poland and Austria, in which countries we are rapidly expanding our market share. Furthermore, the acquisition of Just Eat Benelux strengthened Takeaway.com's position in the Benelux, a region of 28 million inhabitants in which the Company is already highly profitable. We are proud to have successfully completed the integration of the Just Eat Benelux brands in a short period of time and expect to see the benefits of this acquisition going forward."

Orders x 1,000		Third quarter			Year-to-date
		2016	2015	Growth	Sep-16	Sep-15	Growth
	Netherlands1	5,239	4,029	30%	15,112	11,606	30%
	Germany	4,205	2,851	47%	12,015	8,259	45%
	Other2,3,4	2,678	1,469	82%	7,337	4,199	75%
	Total	12,122	8,349	45%	34,464	24,064	43%

1) The acquisition of the Netherlands' activities of Just Eat Benelux has been included from August 2016

2) Other comprises Belgium, Austria, Poland, Switzerland, France, United Kingdom, Luxembourg and Portugal

3) The acquisition of the Belgian activities of Just Eat Benelux has been included from August 2016

4) The United Kingdom operations were discontinued in August 2016

Takeaway.com processed 12.1 million orders in Q3 2016, representing a 45% increase compared to Q3 2015.

• The Company acquired Just Eat Benelux B.V. and Just Eat Belgium BVBA, hereinafter jointly "Just Eat Benelux", from Just Eat Holding Limited on 2 August 2016. The integration of the Just Eat Benelux business was completed within one month after the acquisition, with the brands having been fully integrated into the Dutch and Belgian business of Takeaway.com from the beginning of September 2016.
• The number of orders in the Netherlands increased in Q3 2016 by 30% compared to Q3 2015. The Just Eat Benelux acquisition had no significant contribution to the growth in the Netherlands in Q3 2016, but that it will have a moderately positive impact on Q4 2016.
• Management also believes the Company gained further market share in Germany, with the number of orders in Q3 2016 growing by 47% compared to Q3 2015.

• The number of orders in the Other segment increased in Q3 2016 by 82% compared to Q3 2015, driven by continued growth in Belgium, Austria and Poland. The number of orders in Belgium was positively impacted by the Just Eat Benelux acquisition. As a result of the Company's growth as well as the Just Eat Benelux transaction, the Belgian business is expected to operate on an EBITDA positive basis for the full year 2016.

• The Company's UK operations were discontinued in August 2016. While the impact on orders is negligible, management estimates annual savings of approximately €1 million as a result of this decision.

• Takeaway.com's logistical service has to date been rolled out to 16 large European cities, across 5 countries.

Year-to-date orders of Takeaway.com grew by 43% to 34.4 million, with growth accelerating to 45% in Q3 2016.

The Just Eat Benelux acquisition further strengthens Takeaway.com's highly profitable growing business in the Benelux: a region of 28 million inhabitants. For this reason, the Company has decided to give further insight in its Benelux growth by providing alternative segmentation.

Orders x 1,000		Third quarter			Year-to-date
		2016	2015	Growth		Sep-16	Sep-15	Growth
	Benelux1,2	5,986	4,506	33%		17,063	13,007	31%
	Germany	4,205	2,851	47%		12,015	8,259	45%
	Other3,4	1,930	992	95%		5,386	2,798	93%
	Total	12,122	8,349	45%		34,464	24,064	43%

1) Benelux comprises Netherlands, Belgium and Luxembourg

2) The acquisition of Just Eat Benelux has been included from August 2016

3) Other comprises Austria, Poland, Switzerland, France, United Kindom and Portugal

4) The United Kingdom operations were discontinued in August 2016

• The number of orders in Benelux increased in Q3 2016 by 33% compared to Q3 2015. Quarterly growth was slightly higher than year-to-date growth, mainly because of the Just Eat Benelux acquisition. Without this acquisition, year-to-date order growth in the Benelux would have been in line with H1 2016.
• The number of orders in the Other segment (excluding Belgium and Luxembourg) increased in Q3 2016 by 95% compared to Q3 2015, predominantly due to the strong performance in Poland and Austria.

Management is confident the Company will achieve the medium term operational and financial performance objectives as set out in the prospectus issued in September 2016.

Takeaway.com

Jitse Groen, CEO Brent Wissink, CFO Joerg Gerbig, COO

Investors: Joris Wilton E: Joris.Wilton@takeaway.com T: +31 6 143 154 79

For more information please visit our corporate website: https://corporate.takeaway.com

About Takeaway.com

Takeaway.com is an online food delivery marketplace in nine European countries and Vietnam focused on connecting consumers and restaurants through its platform. With more than 30,500 restaurants connected to the platform, Takeaway.com offers consumers a wide variety of food choice. The company mainly collaborates with delivery restaurants. In addition, Takeaway.com also provides logistical services in 16 European cities for restaurants that do not deliver themselves.

Founded in 2000, the company has rapidly grown to become the leading online food delivery marketplace of Continental Europe with operations in the Netherlands, Belgium, Germany, Austria, Poland, Switzerland, France, Luxembourg and Portugal. In the twelve months ending June 2016, Takeaway.com processed more than 40.4 million orders from 7.6 million unique consumers.

With around 500 employees, the company recorded gross merchandise value of €651 million and a revenue of €77 million in 2015. Takeaway.com listed on Euronext Amsterdam (AMS: TKWY) on 30 September 2016. The prospectus and press releases are available on the Takeaway.com website (https://corporate.takeaway.com).

Disclaimer

The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed by any person for any purpose on the information contained in this announcement or its accuracy, fairness or completeness.

This announcement may include statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements may be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "plans", "projects", "anticipates", "expects", "intends", "may", "will" or "should" or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. Forward-looking statements may and often do differ materially from actual results. Any forward-looking statements reflect the Company's current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the Company's business, results of operations, financial position, liquidity, prospects, growth or strategies. Forward-looking statements speak only as of the date they are made.

The Company expressly disclaims any obligation or undertaking to update, review or revise any forward-looking statement contained in this announcement whether as a result of new information, future developments or otherwise.