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PostNL N.V.

Investor Presentation • Dec 3, 2009

3878_iss_2009-12-03_4038253e-d52b-4de0-8455-c636b1a072ba.pdf

Investor Presentation

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Marie-Christine Lombard

3 December 2009

The economic crisis made Express stronger Express

Limited customerloss

  • y Almost all customers stayed on board due to our broad product portfolio offering 'economic'alternatives
  • y Despite economic downturn growth in some verticals

Cost reductionfocus in 2009

  • y Aggressive operational cost reductions to adjust for lower volumes (already started in 2008)
  • y Structural cost reductions in operations and overhead

Further structural cost savings

  • y Continuation of existing and launch of new cost savings and efficiency programmes
  • y Improving cost competitiveness in domestic and crossborder parcels
  • y Establishing more road connections

Leverage new cost position

  • y Industry specific service propositions
  • y Rolling out Direct Express
  • y B2C proposition
  • high-end solutions
  • broker networks
  • y Inbound Europe flows

2

Unprecedented GDP decline

Development of Europe 2009 consensus forecasts GDP growth (%)

Airfreight market YTD Sept. 2009 down by 20% versus 2008

Express

Average EU unemployment up to 10%; other macroeconomic indicators also bad

Express volume decline versus 2008

Volume development 2009 versus 2008

Core kilos, year-on-year change, in %

4

Express

Express volume decline versus 2007

Core kilos, year-on-year change, in %

5

Express

Express results heavily impacted, however partially mitigated by cost reduction initiatives … Cost development Q3 YTD 2008 – Q3 YTD 2009 (€ million)

Express

Note: TNT Express excluding Hoau, Mercúrio, Araçatuba and LIT Cargo and restructuring costs; figures at constant fx

Quality and customer satisfaction have improved …Express

1 EU Parcels additional growth

Overview European Parcels market € billion 2008, percent

x%

2005-2015 CAGR (Indicative)

Optimised cost base main driver for further profitable growth in enlarged market

Drivers

15

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  • PUD optimisation
  • Procurement
  • Overhead reduction
  • Broker model

Focus on conveyable

Selected 7 relevant countriesMarket size 2015Relevant market € 10.5 billionTotal market € 21 billionDomestic International € 1.4 billion€ 3.8 billionB2C € 6.7 billion B2B€ 9.1 billion

Additional growth

Targeted standard parcels revenue in relevant markets€ 1.6 billion (15% market share)

Opportunity for 'high end' and medium B2C offer

Customer segmentation BtC1

High end proposition: what do customers want?

  • • Weekday evening and weekend delivery
  • • Tailored at home delivery slots or alternative delivery addresses
  • -At work
  • -Neighbours
  • •Pre-notification
  • •Secure
  • •Full track and trace

16

EU Parcels

Vertical approach to increase drop density with existing sales force

TNT customer segmentation

Direct Express launch on schedule

Direct in-feed concept Current status

  • y TNT's response to demand for efficient high-quality service
  • y Direct in-feed concept combines the flexibility of dedicated linehauls with the efficiency of existing domestic last mile delivery networks

  • Available to large volume parcel shippers only

  • y System development, testing of sample shipments, and internal road show completed

  • yFormal external launch in week 47
  • yAttractive pipeline build-up
  • yFirst customers won
  • y> € 300 million target by 2015

18

y

Day-sensitive freight 2

Intercontinental connections will drive freight development in Europe

19

Intra-European transportation revenues, B2B, € billion

Intercontinental focus on consolidated freight flows from China …

Freight

Top 5 air freight and express flows, million tons, percent growth

… our partnership with US Conway …

Freight

Top 5 air freight and express flows, million tons, percent growth

Expand in domestic market China

27

  • • Domestic volumes remain healthy and show good growth versus last year (higher than international)
  • • Chinese government investing heavily to expand domestic demand with large stimulus measures
  • • As economy matures, emerging need for day definite services

Market trends TNT position and initiatives

  • • As of December 2009, 1,500 depots covering 600 cities in 30 provinces
  • Hoau network connected to South-Asian road network covering over 5,000 km and 125 cities from South-West China down to Singapore
  • • Launch of day definite services in February 2009 between key economic areas

South American Road Network connects more than 4,000 Brazilian cities with Argentina and Chile

  • •Launched in June 2009
  • •Key facilities TAPA A certified
  • •All vehicles with GPS
  • •Expedited customs clearance

29

Trailert unles by an ineight and road height
Route and weight
band		 Average
transit time
by road
[days]		 Average
transit time
by air [days]		 SARN
Proposed
Working Day
TТ
enos Aires – Sao
ılo – Buenos Aires		 7.06 3.51
enos Aires –Santiago
uenos Aeros		 5.23 2.76 4
- Paulo – Santiago –
ı Paolo		 8.26 4.44

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In 2010 saving programmes to be continued

Further expansion and acceleration of current structural programs

New initiatives

Automation of current manual activities though further CIT (Customer Information Technology) penetration

  • yMarketing & Sales
  • yCustomer service
  • yAdministration

Also needed to compensate for autonomous cost increases due to wages and inflation

Focus and standardisation of conveyable parcels

Volumes invoiced in Europe, 2008 percent

2010 focus will be on cross-selling cross-border and intercontinental flows

33

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Vision 2015 – Day-definite delivery services

Day-sensitive delivery services

Warning about forward looking statements

36

Some statements in this presentation are "forward-looking statements". By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. These forward-looking statements involve known and unknown risks, uncertainties and other factors that are outside of our control and impossible to predict and may cause actual results to differ materially from any future results expressed or implied. These forward-looking statements are based on current expectations, estimates, forecasts, analyses and projections about the industries in which we operate and management's beliefs and assumptions about future events. You are cautioned not to put undue reliance on these forward-looking statements, which only speak as of the date of this press release and are neither predictions nor guarantees of future events or circumstances. We do not undertake any obligation to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.

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