PostNL N.V.

Management Reports • Sep 17, 2025

PostNL announces new strategy

Capital Markets Day 2025

Breakthrough 2028

PostNL today announces its new strategy and vision. The company will present the new strategy and its 2028 financial ambition at today's Capital Markets Day. PostNL aims to grow its business, create sustainable value, lead through innovation and make an impact that truly matters. With this strategy, PostNL is entering a new chapter in its transformation. The company is confident that its strategic choices will not only strengthen its market position but also create sustainable value for customers, consumers, employees, shareholders and society at large.

Highlights

• 'Connected to deliver what drives us all forward': grow business, create sustainable value, lead through innovation and make impact that matters
• New business segmentation as of 1 Jan 2026: current segment Parcels to be split into E-commerce and Platforms
• E-commerce: from volume to value through differentiated approach and smart network utilisation
• Platforms: capture international growth through asset-light models
• Mail: transform to a future-proof postal service
• Strategic foundation built on three key enablers: ESG, Data & Tech and Innovation beyond delivery
• Financial ambition for 2028:
• Revenue > €4,000 million
• Normalised EBIT > €175 million
• Free cash flow > €75 million
• ROIC > 12%
• Capex of around €150 million per year as of 2026 for acceleration of roll-out Out-of-Home (OoH) network at E-commerce and strengthening of the tech & data foundation with AI-driven innovations
• Pay a dividend that develops in line with business performance

Statement Board of Management PostNL

Pim Berendsen, CEO: "We are excited to announce our new strategy, which aims to drive PostNL towards a future of sustainable growth and innovation. We are building on our heritage, trusted brand, consumer-focused platforms, and leverage our digital capabilities, culture, and transformational mindset. Led by our purpose and connected to deliver what drives us all forward, we are committed to grow our business, create sustainable value, lead through innovation and make impact that matters, while taking care of our people and environment.

"Our new strategic ambitions will ensure our position as the leading player in our markets. To enable more effective management of competences and capital, we are splitting the current segment Parcels into E-commerce and Platforms. In E-commerce we will transition from a volume to a value strategy through a more segmented customer approach, differentiated propositions and by intelligently steering volumes, shifting from 'next day' to 'best day' delivery. We also plan to better leverage our strategic assets and reduce network costs. By expanding our OoH network to 3,600 parcel lockers by end 2028, we are making delivery more efficient and enhancing consumer satisfaction.

"At Platforms, operating globally with a strong network of distribution hubs and partner carriers, we want to accelerate international growth by expanding our successful asset-light platforms Spring and MyParcel into new markets.

"At Mail, the current proposal of the government is insufficient and results in a structurally loss-making USO. Therefore, on 5 September, we requested to withdraw the designation for the USO. It is now up to the government to come up with a proposal to secure a future-proof USO. We have always tried to find an acceptable solution via a constructive dialogue and will continue to do so. If that does not lead to the necessary changes in time, we will then take all necessary steps and mitigating measures for an economically viable USO, whilst safeguarding employment for thousands of people.

"PostNL is continuously innovating and moving towards an AI-first strategy. This is already implemented in crucial business domains and we are further scaling up AI usage and capabilities to optimise processes and personalise the consumer experience. Embracing AI will bring new opportunities to leverage on our strong data and tech foundation. While caring for our people, our communities and the environment, we remain a reliable and responsible partner in a rapidly changing world.

As such, we are exploring new opportunities by stretching our core. For example, moving beyond delivery to the home where we can bring new energy and sustainability services directly to consumers or new products with AI at the core, all powered by our extensive data foundation.

"To secure a disciplined execution of our strategy, we are seeking improvements in a performance-driven organisation with a transformational mindset. We have identified, among other initiatives, ten strategic portfolio priorities that will enable us to achieve our four clear goals: strong financial performance, improved customer and consumer experience, reduced CO² emissions, and greater employee engagement."

Linde Jansen, CFO, adds: "Our 2028 financial ambition reflects the strength and scalability of our new strategy. We are focused on disciplined execution, margin improvement and capital efficiency. By investing in smart automation, digital capabilities and network optimisation at E-commerce and Platforms, we are building a resilient foundation for long-term value creation. By aligning structure and processes to our strategic priorities and embedding these in a strong performance management culture, we become more adaptive and move forward, delivering not just parcels and mail, but also sustainable returns for our shareholders and value for customers, employees and society as a whole."

Ambition 2028, changes to the reporting cycle and a revised dividend policy

PostNL presents its financial ambition for FY 2028:

In € million	2024	2028 ambition
Revenue	3,252	>4,000
Normalised EBIT	53	>175
Free cash flow	12	>75
ROIC1	3.4%	>12%

¹ Invested capital does not include excess cash above minimum operational cash

PostNL is confident to accelerate its financial performance towards 2028, whilst recognising relevance of macroeconomic trends and evolving consumer behaviour on delivering on our ambition. Its FY 2025 outlook is unchanged.

Segments towards 2028

E-commerce: From volume to value through differentiated approach and smart network utilisation

Mid single digit revenue growth (2024: €1,953 million), with normalised EBIT margin improving to around 6.5% (2024: 2.5%) and a gradual increase towards double digit ROIC. PostNL assumes market growth of ~5% per year driven by growth in household consumption and increasing online penetration, and a limited loss in market share.

Platforms: Capture international growth through asset-light models

Double digit revenue growth (2024: €724 million), with normalised EBIT margin improving to around 3% (2024: 2.6%), following targeted investments in capabilities during 2025-26. Platforms will be the segment with the highest ROIC.

Mail: Transform to future-proof postal service

Low single digit revenue decline (2024: €1,313 million), with normalised EBIT margin returning towards break-even when reducing net cost of USO (2024: 0.2%), with an ROIC of around 0%.

People and Sustainability

Sustainability remains a core focus area. The company continues to invest in clean kilometres, climate-neutral buildings, and improving network efficiency. Initiatives include circularity, inclusiveness, diversity, and social security. PostNL aims to improve employee engagement by 5 percentage points by 2028 and is committed to transparent and reliable corporate governance. PostNL will further invest in innovation to reduce manual labour, enhance workplace safety and unlock cost efficiencies, for instance by implementing tilters to reduce manual lifting.

Simplifications in reporting cycle and dividend policy

As of 1 January 2026 PostNL will adjust its reporting cycle, with full reporting at HY and FY and trading updates for Q1 and Q3. Dividend will be paid in line with business performance, with a 70–90% pay-out ratio of normalised profit, while holding on to our aim to be properly financed. Dividend will be distributed in a single annual dividend payment in May, post AGM.

Contact information

Published by PostNL N.V.

Waldorpstraat 3 2521 CA The Hague T: +31 88 86 86 161

Investor Relations Inge Laudy

M: +31 610 51 96 70 E: inge.laudy@postnl.nl

Media Relations Stijn Wesselink

M: +31 625 07 49 71 E: stijn.wesselink@postnl.nl

Live webcast PostNL Capital Markets Day

The Capital Markets Day will be held on 17 September 2025 and will start at 14.00 pm CET. It can be followed live via a webcast at https://www.postnl.nl/en/about-postnl/investors/.

Additional information

Additional information is available at www.postnl.nl. Elements of this press release contain or may contain inside information within the meaning of article 7(1) of the EU Market Abuse Regulation.

Note that the numbers presented in this press release (tables and explanations of results) may not sum precisely to the totals provided and percentages may not precisely reflect the absolute figures due to rounding.

Caution on forward-looking statements

Some statements in this press release are "forward-looking statements". By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that may 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 that 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 possible future events. You are cautioned not to put undue reliance on these forward-looking statements, which only apply as of the date of this press release and are neither predictions nor guarantees of possible 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 law.

Use of non-GAAP information

In presenting and discussing the PostNL Group operating results, management uses certain non-GAAP financial measures. These non-GAAP financial measures should not be viewed in isolation as alternatives to the equivalent IFRS measures and should be used in conjunction with the most directly comparable IFRS measures. Non-GAAP financial measures do not have a standardised meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers. The main non-GAAP key financial performance indicator is normalised EBIT. Normalised EBIT is derived from the IFRS-based performance measure operating income adjusted for the impact of project costs and incidentals.