Zalando SE — AGM Information 2016

May 31, 2016

S T A Y I N G A H E A D O F T H E G A M E

A N N U A L G E N E R A L M E E T I N G 2016

Z A L A N D O S E

3 1 - 0 5 - 2016

WELCOM E TO OUR ANNU AL GENERAL M EETI NG 2016

D A V I D S C H N E I D E R

F a s h i o n & B r a n d R e l a t i o n s , B r a n d Ma r k e t i n g

R O B E R T G E N T Z

T e c h n o l o g y , S t r a t e g y & B u s i n e s s D e v e l o p m e n t

R U B I N R I T T E R

C o m m e r c ia l B u s i n e s s , O p e r a t i o n s & F i n a n c e

W E H A V E A C H I E V E D S T R O N G B U S I N E S S R E S U L T S I N 2 0 1 5

M AD E O U R C U S T O M E R S H AP P I E R T H AN E V E R

NPS¹ +10 Points

AD V AN C E D O U R B R AN D R E L AT I O N S T O T H E N E X T L E V E L

S C AL E D LOGISTICS FOOTPRINT

E X I S T I N G F O O T P R I N T L O G I S T I C S B U I L T -O U T

S C AL E D TECHNOLOGY T E AM

1 , 0 0 0 t e c h e m p l o y e e s ( > 5 0 % g r o wt h )

O p e n e d 2 i n t e r n a t i o n a l t e c h h u b s ( D u b l i n + H e l s i n k i )

M& A s u p p o r t i n g t h e p l a t f o r m ( Me t r i g o , A n a t wi n e , n u g g . a d )

T E C H N O L O G Y B U I L T -O U T 7 L O C A T I O N S A C R O S S E U R O P E

W E AR E A L AR G E AN D R E S P O N S I B L E E M P L O Y E R

W E H AV E B U I L T S U S T AI N AB L E C O M P E T I T I V E AD V AN T AG E S

(1) Annualized as per Q4 2015.

(2) Aided Brand Awareness for most markets Zalando is present in.

(3) Active Customers defined as the number of customers placing at least one order in the last twelve months in the measurement period irrespective of cancellations or returns.

9 (4) 4 fulfillment centers and 1 satellite warehouse in operation with 1 fulfillment center currently being under construction.

2 0 1 5 : A S U C C E S S F U L F I N A N C I A L Y E A R

2015 – A S U C C E S S F U L F I N AN C I AL Y E AR

O U R G O A L S B E G I N N I N G 2 0 1 5	R E S U L T S 2015
R E V E N U E G R O W T H 2 0 - 25% R e v e n u e & G r o w t h	€ 2 , 9 5 8 m 3 3 . 6 %	✓
E B I T M A R G I N A R O U N D 2 0 1 4 L E V E L EBIT ( 1 ) & M a r g i n ( 1 )	€ 107m 3 . 6 %	✓
U S E C A P I T A L E F F I C I E N T L Y F r e e C a s h F l o w ( 2 ) & % R e v e n u e ( 2 )	€ 43m 1 . 4 %	✓

S T R O N G P E R F O R M AN C E AC R O S S AL L S E G M E N T S

RESUL T S 2 0 1 5

	R E V E N U E & G R O W T H	( 1 ) E B I T & ( 1 ) M A R G I N
D A C H	€ 1 , 5 8 0 m + 2 8 %	€ 1 0 2 m 6 . 4 %
R E S T O F E U R O P E	€ 1 , 2 1 2 m + 4 1 %	- € 3 m - 0 . 3 %
( 2 ) O T H E R S	€ 167m + 4 2 %	€ 9 m 5 . 3 %

2 0 1 5 S H AR E P R I C E D E V E L O P M E N T

2 0 1 6 A N D B E Y O N D : C O N T I N U E T O G R O W A T F A S T P A C E

THERE IS SIGNIFICANT ROOM TO GROW

15 Source: Euromonitor International, January 2016, 2015 values based on actuals and estimates; fixed exchange rates. Data for Europe (excl. Russia) incl. apparel and footwear, bags and luggage, jewelry and watches. All market figures inclusive of sales tax. Company information.

M U L T I-Y E AR AN D 2 0 1 6 O U T L O O K

O U R M U L T I-Y E A R G O A L S	O U R 2 0 1 6 G O A L S
R E V E N U E G R O W T H 2 0 - 25%	R E V E N U E G R O W T H A T U P P E R E N D O F T A R G E T C O R R I D O R O F 2 0 - 2 5 %
S O L I D P R O F I T A B I L I T Y	(1) A D J . E B I T - M A R G I N ~ 3 . 0 - 4 . 5 %
F R E E C A S H F L O W : N E U T R A L W O R K I N G C A P I T A L + S T R A T E G I C C A P E X S P E N D	N E U T R A L W O R K I N G C A P I T A L + ~ € 2 0 0 M C A P E X(2)

F I N AN C I AL U P D AT E Q 1 2 0 1 6

T H E P L A T F O R M S T R A T E G Y

THE P L AT F O R M S T R AT E G Y : CONNECTING PEOPLE WITH FASHION

B R A N D S O L U T I O N S

A i m s a t c o n n e c t i n g e v e r y f a s h i o n i t e m t o a n y c u s t o m e r .

Z A L A N D O M E D I A S O L U T I O N S

B r i n g s t o g e t h e r b r a n d s a n d c o n s u m e r s t h r o u g h t a i l o r e d m a r k e t i n g p r o d u c t s .

C O N S U M E R P R O D U C T S

T H E F A S H I O N S T O R E

i s a t t h e h e a r t o f e v e r y t h i n g we d o i n f a s h i o n a n d l i f e s t y l e

Z A L A N D O L O U N G E

i s wh e r e b r a n d a n d p r i c e - c o n s c i o u s c u s t o m e r s m e e t

Z A L O N

l e t s p e o p l e d i s c o v e r a n d d e v e l o p t h e i r o wn s t y l e wi t h o n e o f o u r 2 0 0 + s t y l i s t s

M O V M N T

i s a f a c t o r y -t o - c o n s u m e r s m o d e l f e a t u r i n g g r e a t v a l u e f o r m o n e y f a s h i o n

O t h e r c o n s u m e r f a c i n g p r o d u c t s ( e . g . F L E E K a p p , d i s t r i b u t e d c o m m e r c e )

T H E E N AB L E R S

B E C O M E T H E E U R O P E A N T E C H C O M P A N Y

T e c h a n d s m a r t d a t a c a p a b i l i t i e s a r e t h e c o r e o f o u r p l a t f o r m .

B E T H E B E S T F U L F I L L M E N T P A R T N E R F O R F A S H I O N I N E U R O P E

O p e r a t i o n s u n d e r l i e a l l o f o u r p h y s i c a l p r o c e s s e s a n d i s a n i n t e g r a l p a r t o f o u r c o r e c a p a b i l i t i e s .

P L AT F O R M S T R AT E G Y I S M U L T I -Y E AR

• L a y f o u n d a t i o n f o r p l a t f o r m
• C o m m e n c e wo r k o n f i r s t s e l e c t p r o j e c t s

2015 2 0 1 6 + 2 0 1 7 2018

• D e v e l o p " s p e e d b o a t " i n i t i a t i v e s i n p a r a l l e l
• S o m e wi l l wi n t h e r a c e

• P l a t f o r m i n i t i a t i v e s b e c o m e m o r e m a t e r i a l t o b u s i n e s s m i x

D I S C L AI M E R

These materials do not constitute an offer of securities for sale or a solicitation of an offer to purchase securities of Zalando SE (together with its subsidiaries, the "Company") in any jurisdiction. The distribution of this presentation may be restricted by law in certain jurisdictions and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

This presentation contains certain forward-looking statements relating to the business, financial performance and results of the Company and/or the industry in which the Company operates. Forward-looking statements concern future circumstances and results and other statements that are not historical facts, sometimes identified by the words "believes," "expects," "predicts," "intends," "projects," "plans," "estimates," "aims," "foresees," "anticipates," "targets," and similar expressions. The forward-looking statements contained in this presentation, including assumptions, opinions and views of the Company or cited from third party sources, are solely opinions and forecasts which are uncertain and subject to risks. Actual events may differ significantly from any anticipated development due to a number of factors, including without limitation, changes in general economic conditions, in particular economic conditions in Germany, changes affecting interest rate levels, changes in competition levels, changes in laws and regulations, environmental damages, the potential impact of legal proceedings and actions and the Group's ability to achieve operational synergies from past or future acquisitions. The Company does not guarantee that the assumptions underlying the forward-looking statements in this presentation are free from errors nor does it accept any responsibility for the future accuracy of the opinions expressed in this presentation or any obligation to update the statements in this presentation to reflect subsequent events. The forward-looking statements in this presentation are made only as of the date hereof. Neither the delivery of this presentation nor any further discussions of the Company with any of the recipients thereof shall, under any circumstances, create any implication that there has been no change in the affairs of the Company since such date. Consequently, the Company does not undertake any obligation to review, update or confirm investors' expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of the presentation.

This presentation contains summary information only and does not purport to be comprehensive and is not intended to be (and should not be used as) the basis of any analysis or other evaluation. In addition, the information in this presentation is subject to change. No representation or warranty (express or implied) is made as to, and no reliance should be placed on, any information, including projections, estimates, targets and opinions, contained herein, and no liability whatsoever is accepted as to any errors, omissions or misstatements contained herein.

A N N U A L G E N E R A L M E E T I N G

2016

Z A L A N D O S E

3 1 - 0 5 - 2016