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[ P R E S E N T A T I O N T I T L E ]

April 2015

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2014 Annual Results Presentation

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T th [ C L I E N T N A M E ] S May 5 , 2015 Disclaimer

This document is being presented solely for informational purposes and should not be treated as giving investment advice. It is not intended to be (and 56 – 153 - 236 should not be used as) the sole basis of any analysis or other evaluation. All and any evaluations or assessments stated herein represent our personal opinions. We advise you that some of the information is based on statements by third persons, and that no representation or warranty, expressed or implied, is made as to, and no reliance should be place on, the fairness, accuracy, completeness or correctness of this information or opinions 96 – 188 - 87 contained herein.

This presentation contains certain forward-looking statements relating to the business, financial performance and results of Rocket Internet SE, its 255 – 194 - 51 subsidiaries and its participations (collectively, “Rocket”) and/or the industry in which Rocket 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 170 – 77 - 200 in this presentation, including assumptions, opinions and views of Rocket 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 the markets in which Rocket operates, changes affecting 244 – 124 - 52 interest rate levels, changes in competition levels, changes in laws and regulations, environmental damages, the potential impact of legal proceedings and actions and Rocket’s ability to achieve operational synergies from acquisitions. Rocket 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 22 – 167 - 163 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 Rocket with any of the recipients thereof shall, under any circumstances, create any implication that there has been no change in the affairs of Rocket since such 174 – 218 - 241 date. Consequently, Rocket does not undertake any obligation to review, update or confirm recipients’ 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.

Neither Rocket Internet SE nor any other person shall assume any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or the statements contained herein as to unverified third person statements, any statements of future expectations and other forward-looking statements, or the fairness, accuracy, completeness or correctness of statements contained herein, or otherwise arising in connection with this presentation.

1 Agenda Topic Presenter

Introduction Rocket Internet CEO – Oliver Samwer

Taking Global Online Takeaway Group to the Next Rocket Internet CEO – Oliver Samwer 56 – 153 - 236 Level

Proven Winners Annual Results Rocket Internet CFO – Peter Kimpel 96 – 188 - 87

Update Emerging Stars Rocket Internet CFO – Peter Kimpel 255 – 194 - 51

Update Regional Internet Groups Rocket Internet CEO – Oliver Samwer 170 – 77 - 200

Highlights Strategic Participations Rocket Internet CEO – Oliver Samwer 244 – 124 - 52 Rocket Internet – Summary of 2014 Results Rocket Internet CFO – Peter Kimpel 22 – 167 - 163 Platform Update Rocket Internet CEO – Oliver Samwer 174 – 218 - 241 2015 Update and Outlook Rocket Internet CEO – Oliver Samwer

Lazada – Largest eCommerce Platform in South Lazada CEO – Maximilian Bittner East Asia

Q&A All

2 56 – 153 - 236

96 – 188 - 87

255 – 194 - 51

170 – 77 - 200

244 – 124 - 52 Introduction

22 – 167 - 163

174 – 218 - 241 Introduction – Key Achievements 2014

Key Achievements Strong Performance Average volume weighted net revenue growth of 82%(1) 56 – 153 - 236 of Proven Winners Average volume weighted GMV growth of General Merchandise companies of 205%(1) 96 – 188 - 87 Strongest revenue growth of 380% by HelloFresh (2) 255 – 194 - 51 Average adjusted EBITDA margin improvement of 21pp

170 – 77 - 200 Strong Performance Number of orders/transactions increased by 213%(3) of Emerging Stars Number of unique visitors increased by 200%(4) 244 – 124 - 52

22 – 167 - 163 Significant LPV Uplift €0.5bn LPV uplift between IPO and year-end; €2.0bn LPV uplift until end of April 2015 (including Group Online Takeaway Group 174 – 218 - 241 transactions)

Source: Unaudited company information Notes: (1) Growth shown is derived from the sum of the individual Proven Winners’ net revenue/GMV; net revenue/GMV that was originally reported in a currency other than € were converted to € using average exchange rates; 2013 numbers were translated using the same 2014 average exchange rates; (2) Excludes foodpanda margin, margin of General Merchandise companies included as % of GMV, adjusted for share based compensation expenses; (3) Growth shown is derived from the sum of total number of transactions for CupoNation and PAYMILL, total number of orders for FabFurnish, Zanui and TravelBird and total number of bookings for Wimdu; no data included for Helpling, Lendico, Zencap and Traveloka; (4) Growth shown is derived from the sum of unique visitors for CupoNation, FabFurnish and Zanui 4 Introduction – Key Achievements 2014 (cont’d) Key Achievements

56 – 153 - 236 Simplification of Creation of Global Fashion Group Portfolio Structure 96 – 188 - 87 Creation of Global Online Takeaway Group (“GOTG”)

255 – 194 - 51 Launch of 10 New 170 – 77 - 200 Companies

244 – 124 - 52

22 – 167 - 163 Continued Build-out 60+ new IT engineers hired in H2 2014

174 – 218 - 241 of Rocket Platform New headquarters providing basis for future growth

5 56 – 153 - 236

96 – 188 - 87

255 – 194 - 51

170 – 77 - 200

244 – 124 - 52 Taking Global Online

22 – 167 - 163

174 – 218 - 241 Takeaway Group to the Next Level Acquisition of Yemeksepeti and e-Food by Delivery Hero

56 – 153 - 236

100% 96 – 188 - 87 Global Online 255 – 194 - 51 Takeaway Group

170 – 77 - 200 50% 40%(1) 100% 100%

244 – 124 - 52

22 – 167 - 163

174 – 218 - 241 (Emerging (Various) (Spain) (Italy) Markets) 100% 100% 100%

Note: Recent transactions shown are subject to closing (1) On a fully diluted basis 7 The Acquisition of Yemeksepeti and e-Food Brings GOTG to the Next Level

56 – 153 - 236 Ann. orders(1) (m) 120 96 – 188 - 87 36

255 – 194 - 51 84

170 – 77 - 200

244 – 124 - 52

22 – 167 - 163

174 – 218 - 241 GOTG GOTG pre Yemeksepeti post Yemeksepeti and e-Food and e-Food

Source: Unaudited foodpanda, Delivery Hero, Pizzabo, Talabat, Yemeksepeti, e-Food and LaNeveraRoja information; Global Online Takeaway Group numbers include 100% of Delivery Hero, Yemeksepeti, e-Food, Talabat and foodpanda Notes: (1) December 2014 annualised

8 Building the Global Leader in Online Takeaway in less than 6 Months

January May 2015 2015 56 – 153 - 236

96 – 188 - 87

255 – 194 - 51 Acquisition of Yemeksepeti and 170 – 77 - 200 e-Food by Delivery

Hero Acquisition and Increased stake in 244 – 124 - 52 contribution of stake Delivery Hero to 40% in Talabat to increase 22 – 167 - 163 stake in Delivery Hero to c.39% (also Acquisition of c.30% secondary) 174 – 218 - 241 stake in Delivery Hero Yemeksepeti stake Acquired Pizzabo, (11%) becomes part leading player in Italy of Global Online Acquired LaNevera Takeaway Group Roja, leading player in Spain

9 Global Leader in the Online Takeaway Market

56 – 153 - 236 24 90k 5.8m 63m countries (2) (3) 39 countries(1) restaurants users in H2 14 ann. orders 96 – 188 - 87

8 9.2k+ 3.5m 33.8m 255 – 194 - 51 countries restaurants(2) users(4) ann. orders(3) #1 in 31 countries

170 – 77 - 200 1 2.2k+ 0.1m 2.2m country restaurants(2) users ann. orders(3) c.46k restaurants(2) 244 – 124 - 52 6 1.4k+ 0.5m+ 5.8m countries restaurants(2) users(4) ann. orders(3) 22 – 167 - 163 2.3m active users(2) 1 4k 560k 1.4m 174 – 218 - 241 country restaurants(2) users(4) ann. orders(3)

13m annualised orders(3) 1 0.3k+ 240k 1.1m country restaurants(2) users(4) ann. orders(3)

Source: Unaudited foodpanda, Delivery Hero, Pizzabo, Talabat, Yemeksepeti, e-Food and LaNeveraRoja information (management accounts) Notes: foodpanda figures are pro forma for acquisitions (1) Includes 10 African countries owned by Africa Internet Group; (2) As of December 2014; (3) Based on December 2014; (4) Based on December 2014 visits

10 Global Online Takeaway Group – Leader in Online Takeaway Globally

56 – 153 - 236

96 – 188 - 87

255 – 194 - 51

170 – 77 - 200 $

244 – 124 - 52 71 59 153k 120m >€1bn 22 – 167 - 163 countries(1) no. 1 countries Restaurants(2) ann. orders(3) GMV

174 – 218 - 241

Source: Unaudited foodpanda, Delivery Hero, Pizzabo, Talabat, Yemeksepeti, e-Food and LaNeveraRoja information (management accounts) Notes: foodpanda figures are pro forma for acquisitions, Global Online Takeaway Group numbers include 100% of Delivery Hero, Yemeksepeti, e-Food, Talabat and foodpanda (1) Includes 10 African countries owned by Africa Internet Group; excludes overlapping countries (2) As of December 2014 (3) Annualized based on December 2014 11

Present in 71 Countries and No.1 in 59

56 – 153 - 236

96 – 188 - 87

255 – 194 - 51

170 – 77 - 200

#1 #2 244 – 124 - 52 foodpanda(1) Delivery Hero(2) 22 – 167 - 163 Yemeksepeti

174 – 218 - 241 e-Food La Nevera Roja Pizzabo

Notes: Market position based on number of orders and web traffic; foodpanda figures are pro forma for acquisitions (1) 10 African countries (Ghana, Ivory Coast, Kenya, Morocco, Nigeria, Rwanda, Senegal, Algeria, Tanzania, Uganda) where the foodpanda model is owned by the Africa Internet Group (2) Market leader in China within professional / white collar segment; Denmark presence represents minority stake 12 Capturing the Largest and the Most Attractive Markets… Population Nominal GDP Internet penetration(1) (m) ($bn) (%) 56 – 153 - 236

96 – 188 - 87 5,453 44,496 80.9%

255 – 194 - 51 65.7%

170 – 77 - 200 20,377 35.2% 17,826 244 – 124 - 52

22 – 167 - 163 642 383

174 – 218 - 241 Global Global Global Online Online Online Takeaway Takeaway Takeaway Group Group Group

Source: IMF, BMI Notes: (1) Calculated as number of Internet users relative to population

13 ... as the Largest Company in the Sector Countries of Takeaway restaurants Orders operation(1) (‘000s) (m) 56 – 153 - 236 Pre Yemeksepeti / e-Food Post Yemeksepeti / e-Food

8% 96 – 188 - 87 4% 71 153(2) 68 120(3) 142(2) 43% 255 – 194 - 51 86(6) 84(3) (5) 170 – 77 - 200 67

46(4) 244 – 124 - 52 13 35 2 22 – 167 - 163 Global Global Global Online Online Online 174 – 218 - 241 Takeaway Takeaway Takeaway Group Group Group

Source: Unaudited foodpanda, Delivery Hero, Pizzabo, Talabat, Yemeksepeti, e-Food and LaNeveraRoja information Notes: foodpanda figures are pro forma for acquisitions; Global Online Takeaway Group numbers include 100% of Delivery Hero, Yemeksepeti, e-Food, Talabat and foodpanda (1) Excludes overlapping countries, includes 10 African countries owned by Africa Internet Group for foodpanda (2) As of December 2014 (3) December 2014 annualised (4) As of end of 2014 (5) Annualised based on H2 2014 (6) Annualised based on daily average grubs for Q1 2015 14 Rocket Only Shareholder to Protect and Increase Ownership Position

56 – 153 - 236 Rocket transaction overview

96 – 188 - 87 Contribution of Yemeksepeti 11.4% Shares in Delivery Hero shareholding 255 – 194 - 51

170 – 77 - 200

244 – 124 - 52

Cash €61.3m Shares in Delivery Hero 22 – 167 - 163

174 – 218 - 241 Fully diluted Rocket 40% ownership in Delivery Hero

15 Significant Value Creation in Online Takeaway

56 – 153 - 236 Valuation of Delivery Hero post Yemeksepeti & 96 – 188 - 87 e-Food transactions Valuation of Delivery Hero €2.4bn 255 – 194 - 51 pre Yemeksepeti & e-Food transactions

€1.9bn 170 – 77 - 200 LPV and LPV uplift of Rocket’s stake in 244 – 124 - 52 Delivery Hero

~€975m 22 – 167 - 163 ~€175m 40% Rocket Total investment 174 – 218 - 241 stake in Delivery Hero ~€800m

16 56 – 153 - 236

96 – 188 - 87

255 – 194 - 51

170 – 77 - 200

244 – 124 - 52 Yemeksepeti – Market

22 – 167 - 163

174 – 218 - 241 Leader in Turkey Yemeksepeti Leadership

56 – 153 - 236 Nevzat Aydin CEO/Founder 96 – 188 - 87 Pioneer in online delivery market

255 – 194 - 51

170 – 77 - 200 “Fortune’s 40 under 40, #1 Businessman of the year” (2013 Fortune Magazine Turkey) 244 – 124 - 52 “Most Successful Turkish Young Entrepreneur” (CNBC - eBusiness magazine in

22 – 167 - 163 2010) Born in 1976 in Istanbul, launched Yemeksepeti in 2001 174 – 218 - 241

Source: Yemeksepeti information, CrunchBase 18 Online Penetration in Europe and Developing Markets, in Particular Turkey, with Significant Upside eCommerce penetration(1)

56 – 153 - 236

96 – 188 - 87

14% Eastern Europe 3.3% 255 – 194 - 51 6.7% Western Europe

6% 2.3%(4) 170 – 77 - 200 3% 6.3%(2) 14.2% 2% 1.6%(1) 11.0% 6.1% 244 – 124 - 52 US Western Emerging Turkey 1.5% Europe(2) Markets 0.7% (ex China)(3) 22 – 167 - 163

3.2%

174 – 218 - 241 6.8%

2.3%

Source: Morgan Stanley Research Estimates, Euromonitor, eMarketer, Forrester, National Government Data Sources (1) 2014E online retail sales in relation to total retail sales; (2) Average based on UK, Germany, France, Spain, Italy, Netherlands and Sweden eCommerce penetration; (3) Emerging Markets defined as Argentina, Brazil, India, Russia, Chile, Mexico (excluding China); (4) Eastern Europe B2C eCommerce sales share 2014F (eMarketer), excluding Russia 19 Yemeksepeti – At a Glance

56 – 153 - 236

96 – 188 - 87

255 – 194 - 51

170 – 77 - 200

244 – 124 - 52 8 No.1 63 9.2k 3.5m 33.8m countries Leader cities restaurants(1) users(2) ann. orders(3) 22 – 167 - 163 in Turkey

174 – 218 - 241

Source: Unaudited Yemeksepeti information (management accounts) Notes: Includes international business (1) As of December 2014 (2) Based on December 2014 visits (3) December 2014 annualised 20 Best-in-Class Track Record

Turkey only 56 – 153 - 236 GMV (TLm) 729(1) 31.8(1)

96 – 188 - 87 Total orders (m) 565 25.1 2015 255 – 194 - 51 Finalized

401 18.7 2014 acquisition Launched of ifood.jo in

170 – 77 - 200 311 15.2 FOC in Jordan 2013 Saudi Launched Arabia 244 – 124 - 52 2012 FOC in Investment 2009 Qatar, from 22 – 167 - 163 Launched Oman and 2008 General 2001 FOC in Lebanon Investment Atlantic 1st order Dubai 174 – 218 - 241 from placed on European Yemeksepeti Founders .com Fund

Source: Unaudited Yemeksepeti information (management accounts) Note: GMV and orders are Turkey only (1) December 2014 annualised 21 Clear No.1 Position in Turkey with Growing Presence in Middle East

56 – 153 - 236 FocusTurkey on significant market opportunities Lebanon 96 – 188 - 87 BuildingOman global leaders 255 – 194 - 51 Saudi Arabia 170 – 77 - 200 Increasing ownership positions in Proven Winners by buying secondary shares andUAE participating in funding rounds 244 – 124 - 52 Qatar Continuously increase LPV of Rocket 22 – 167 - 163 Jordan

174 – 218 - 241 Launch new proven business models

Building out the Rocket platform

22 Turkey Has Highly Attractive Macro Fundamentals

56 – 153 - 236

96 – 188 - 87

255 – 194 - 51 $ $ 170 – 77 - 200 $

244 – 124 - 52 US$672bn 76m US$10,560 35m US$3.1bn GDP total population GDP per capita Internet users eCommerce (1) 22 – 167 - 163 (+3% real growth) (46% penetration) (+25% growth)

174 – 218 - 241

Source: EIU, Euromonitor, Internet Live Stats Notes: (1) Percentage of the population using the Internet

23 Turkey Offers Significant Growth Potential

56 – 153 - 236 Online Retail Yemeksepeti Footprint in Core Market Turkey (as % of total) (present in 63/81 cities)

96 – 188 - 87

USA 14% 255 – 194 - 51 UK 11% 170 – 77 - 200 Russia 3%

244 – 124 - 52 Brazil 3%

22 – 167 - 163 Turkey 2%

India 1% 174 – 218 - 241

Source: Morgan Stanley Research Estimates, Euromonitor, eMarketer, Forrester, National Government Data Sources, Yemeksepeti

24 Many Restaurant Chains Are Actively Expanding in Turkey

56 – 153 - 236 Domino’s aims to reach 600 restaurants by the end of 2016 96 – 188 - 87 Focus on significant market opportunities

255 – 194 - 51 Building global leaders Yum Brands has recently acquired Master Franchise of KFC / 170 – 77 - 200 Pizza Hut and intends to add 80 restaurants over the next 2-3 yearsIncreasing ownership positions in Proven Winners by buying secondary shares 244 – 124 - 52 and participating in funding rounds

22 – 167 - 163 LittleContinuously Caesars is adding increase 30 restaurants LPV of Rocketin Anatolia 174 – 218 - 241

Launch new proven business models

Building out the Rocket platform 25 Yemeksepeti Is by a Long Margin the Dominant Market Leader ...

56 – 153 - 236 Online Food Marketplaces March 15 Website Rank

96 – 188 - 87 Yemeksepeti.com 69

255 – 194 - 51 Acıkınca.com 13,709

170 – 77 - 200 Uniyemek.com 33,802 244 – 124 - 52

Bolbol.com 4,379 22 – 167 - 163

174 – 218 - 241 Adreseyemek.com 7,306

Neyiyelim.com 55,645 … commanding 95-100% of multi-restaurant marketplaces

Source: Euromonitor, Alexa

26 Yemeksepeti – a Valuable Brand

Turkey Interest over time (Last 18 months) 56 – 153 - 236 July 2013 – December 2014

Yemeksepeti + yemek sepeti + 96 – 188 - 87 yemeksepeti.com

Pizza 255 – 194 - 51 Burger

170 – 77 - 200 Average Oct-2013 Jan-2014 Apr-2014 Jul-2014 Oct-2014

244 – 124 - 52 UK (Last 18 months) US (Last 18 months) July 2013 – December 2014 July 2013 – December 2014

22 – 167 - 163 Pizza Pizza

justeat + 174 – 218 - 241 Just eat + Justeat.com Burger Burger GrubHub + seamless Average Oct-2013 Apr-2014 Oct-2014 Average Oct-2013 Apr-2014 Oct-2014

Source: Google Trends

27 Free Traffic Represents 94% of all Yemeksepeti Traffic

56 – 153 - 236 Source of orders

96 – 188 - 87 Paid traffic 6%

255 – 194 - 51

170 – 77 - 200

244 – 124 - 52 Free traffic 94%

22 – 167 - 163

174 – 218 - 241

2014

Source: Unaudited Yemeksepeti information (management accounts) 28 28 Outstanding Operating Performance in Turkey ...

Restaurants (‘000) Orders/active Users (m) Total orders (m) 56 – 153 - 236 restaurant Monthly(1) 96 – 188 - 87

9.2 3.2 255 – 194 - 51 +38% 306 +34% 25.1 +17% +15% 170 – 77 - 200 2.3 18.7 7.9 265 244 – 124 - 52

22 – 167 - 163

174 – 218 - 241

2013A 2014A 2013A 2014A 2013A 2014A 2013A 2014A >9,200 restaurants in 2014 >300 orders/restaurant in >3.2m users in 2014 >25m total orders in 2014 2014

Source: Unaudited Yemeksepeti information (management accounts) Note: Metrics are for Turkey only (1) December of each year 29 … Combined with Strong Growth of Financial KPIs

56 – 153 - 236 GMV Revenues EBITDA (TLm) (TLm) (TLm) 96 – 188 - 87

565 / €195 53 / €18 255 – 194 - 51 +41% 26 / €9 +47% +69% 170 – 77 - 200

244 – 124 - 52

22 – 167 - 163

174 – 218 - 241 2013A 2014A 2013A 2014A 2013A 2014A

>TL560m GMV in 2014 ~TL53m revenues in 2014 ~TL26m EBITDA in 2014

Source: Unaudited Yemeksepeti information (management accounts) Note: Metrics are for Turkey only Note: Exchange rate used for EUR/TL = 2.9014 (2014 average) 30 Highly Attractive Margins

EBITDA margin 56 – 153 - 236 Turkey

48% 96 – 188 - 87

255 – 194 - 51

170 – 77 - 200

42% 244 – 124 - 52

22 – 167 - 163

174 – 218 - 241 2013A 2014A

Source: Unaudited Yemeksepeti information (management accounts)

31 Yemeksepeti Shows Superior Profitability ...

EBITDA Margin 56 – 153 - 236

96 – 188 - 87 48% 40% 255 – 194 - 51 32%

170 – 77 - 200

244 – 124 - 52

22 – 167 - 163 2014A 2014A Q1 2015 (Turkey)

174 – 218 - 241

(UK)

Source: Unaudited Yemeksepeti information (management accounts), JustEat and GrubHub company filings (JustEat: based on “Underlying EBITDA”; GrubHub: based on “Adjusted EBITDA”) 32 ... and Growth in Line with Peers

56 – 153 - 236

96 – 188 - 87 Revenues CAGR 2012-14

255 – 194 - 51 56% 62% 46% 170 – 77 - 200

244 – 124 - 52

22 – 167 - 163

174 – 218 - 241 (All Countries) (Consolidated)

Source: Unaudited Yemeksepeti information, JustEat and GrubHub company filings

33 Turkey Key KPIs for Jan and Feb Show Continued Strong Growth

56 – 153 - 236 Orders GMV Core commission (m) (TLm) revenue (TLm) 96 – 188 - 87

255 – 194 - 51

4.4 36% 4.9 45% 118.0 48% 170 – 77 - 200 3.6 81.5 2.9

244 – 124 - 52

22 – 167 - 163

174 – 218 - 241 Jan-Feb Jan-Feb Jan-Feb Jan-Feb Jan Jan 2014 2015 2014 2015 2014 2015

Source: Unaudited Yemeksepeti information (management accounts)

34 Multiple, Growing Revenue Streams

56 – 153 - 236 72% of revenue generated through consumer orders

96 – 188 - 87 PartnershipsFocus on significant market opportunities Joker • Special discounts and ad • Customer acquisition tool for 7% 1% 255 – 194 - 51 Buildingspace global leaders restaurants 9%

Increasing ownership positions in Proven 2%Winners by buying secondary shares 170 – 77 - 200 Listingand participating fees in funding rounds • Fees charged to restaurants Other fees 244 – 124 - 52 Continuouslyfor listing increase LPV of Rocket 9% €18m 72% AdvertisingLaunch new proven business models 22 – 167 - 163 Commission • Promotion e-mailing, Building out the Rocket platform 174 – 218 - 241 remarketing packages etc Turkey revenues 2014A

Significant upselling opportunity Preferred listing model active from 93% of all restaurant revenue is through advertising services April 2015 onwards recurring(1)

Source: Unaudited Yemeksepeti information (management accounts) Note: EUR/TL exchange rate used = 2.901 (2014 average) (1) December 2014 35 56 – 153 - 236

96 – 188 - 87

255 – 194 - 51

170 – 77 - 200

244 – 124 - 52 Creation of the Market

22 – 167 - 163

174 – 218 - 241 Leader in the Middle East Middle East – Highly Attractive Market

56 – 153 - 236

96 – 188 - 87

255 – 194 - 51

170 – 77 - 200 €3.4tn+ 5% 370m+ €9,170+ 151m+ GDP(1) Annual GDP Population GDP per Internet users (1) 244 – 124 - 52 growth ‘13-18 Capita

22 – 167 - 163

174 – 218 - 241

Source: IMF, Business Monitor International Notes: Excluding Syria and Cyprus; GDP, Population and Internet users as of 2014E (1) Converted at EUR/USD = 1.12 as of April 30, 2015 37 Middle East – Creating the Market Leader through Organic Growth and M&A

56 – 153 - 236

96 – 188 - 87 Middle East(1) Middle East(2) 255 – 194 - 51

3 countries 6 countries 6 countries 170 – 77 - 200 Focus on significant market opportunities

1,560+ restaurants 1,400+ restaurants 1,800+ restaurants 244 – 124 - 52 Building global leaders #1 0.6m annualised orders 5.8m annualised orders 1.0m annualised orders 22 – 167 - 163 based on December based on December based on December Increasing2014 ownership positions2014 in Proven Winners by buying secondary2014 shares and participating in funding rounds 174 – 218 - 241

Continuously increase LPV of Rocket

Source: Unaudited foodpanda, Talabat and Yemeksepeti information (management accounts) Notes: (1) IncludesLaunch Jordan, new Saudi proven Arabia and UAEbusiness models (2) Includes Jordan, Saudi Arabia, UAE, Qatar, Oman and Lebanon

Building out the Rocket platform 38 Creation of Market Leader in the Middle East

56 – 153 - 236

96 – 188 - 87

255 – 194 - 51

170 – 77 - 200

(1) (2) 244 – 124 - 52 4,700+ 1m 7.4m restaurants registered ann. orders 22 – 167 - 163 users

174 – 218 - 241

Source: Unaudited foodpanda, Talabat and Yemeksepeti information (management accounts) (1) As of December 2014; (2) Based on December 2014

39 Creation of the Leader in the Regional Food Takeaway Market

56 – 153 - 236 FocusStrong, on complementary significant market opportunities 96 – 188 - 87 presence in the Middle East Particularly strong position in 255 – 194 - 51 Buildingattractive globalmarkets leaders with high expatriate populations and high 170 – 77 - 200 Internet penetration IncreasingSignificant synergy ownership potential positions in Proven Winners by buying secondary shares 244 – 124 - 52 and participating in funding rounds Addition of 7 “new markets”

22 – 167 - 163 Increase leadership position in Continuouslyexisting markets increase LPV of Rocket

174 – 218 - 241 foodpanda YemeksepetiLaunch new proven business models Talabat

e-Buildingfood out the Rocket platform

40 Global Online Takeaway Group

56 – 153 - 236 FocusOnline on takeaway significant market market – opportunities one of the biggest online opportunities 96 – 188 - 87 Building global leaders 255 – 194 - 51 Building out the global market leader with acquisitions of Yemeksepeti and e-Food by Delivery Hero 170 – 77 - 200 Increasing ownership positions in Proven Winners by buying secondary shares and participating in funding rounds Rocket increase of ownership in Delivery Hero 244 – 124 - 52

22 – 167 - 163 Continuously increase LPV of Rocket Significant uplift in LPV 174 – 218 - 241 Launch new proven business models

Building out the Rocket platform

41 56 – 153 - 236

96 – 188 - 87

255 – 194 - 51

170 – 77 - 200

244 – 124 - 52 Proven Winners Annual

22 – 167 - 163

174 – 218 - 241 Results Proven Winners with Significant Increase in Revenue/GMV Generation

56 – 153 - 236

96 – 188 - 87 €140m €1,559m(1) €343m 255 – 194 - 51 €270m 170 – 77 - 200 €61m €744m(1) 244 – 124 - 52

22 – 167 - 163

174 – 218 - 241 2013A Food & Grocery Fashion General Merchandise Home & Living 2014A

Source: Respective company’s unaudited consolidated financial statements based on IFRS and management reports Notes: Based on net revenue for Fashion, Home & Living and Food & Grocery and GMV for General Merchandise (1) Converted to EUR using 1-Jan-14 – 31-Dec-14 average FX rate: EUR/BRL = 3.12, EUR/RUB = 51.01, EUR/INR = 81.07, EUR/AED = 4.88, EUR/USD = 1.33; 2013 numbers were translated using the same 2014 average exchange rates

43 Continued Strong Growth Across All Proven Winners Net revenue / GMV Growth 2013-2014 56 – 153 - 236 839% 380% 96 – 188 - 87 215% 305%

172% 255 – 194 - 51

136%

170 – 77 - 200 107% 110%

(1) 84% 82% 76% 70% 73% 244 – 124 - 52 66% 41%

22 – 167 - 163

Overall Overall Pro-forma Weighted weighted 174 – 218 - 241 combined average(1) average(2) General Food & Grocery Fashion Home & Living Merchandise

Source: Respective company’s unaudited consolidated financial statements based on IFRS and management reports Notes: Above growth rates are derived from reporting currency financials and KPIs; Figures depict 2013-14 YoY net revenue growth except for General Merchandise which is 2013-14 YoY GMV growth (1) Growth shown is derived from the sum of the individual Proven Winners’ net revenue; net revenue that was originally reported in a currency other than € were converted to € using average exchange rates; 2013 numbers were translated using the same 2014 average exchange rates (2) Same as note (1), but General Merchandise companies are included with their GMV growth 44 Strong EBITDA Margin Improvement as Proven Winners Scale Average Average (56%) (34%) 56 – 153 - 236 Adj. EBITDA Margin FY 2014 n/m Adj. EBITDA Margin FY 2013

(17%) 96 – 188 - 87 (36%)

(1) (35%) Adj. EBITDA Margin (48%) 255 – 194 - 51 Percentage Point (23%) Improvement (37%)

21pp (56%) 170 – 77 - 200 FY2014 / FY2013 (68%)

(3%) (70%) 244 – 124 - 52 (58%) (90%) (1) 22 – 167 - 163 (38%) (62%)

(41%) (1) (48%) 174 – 218 - 241 (50%) (1) (88%)

(31%) (34%)

(26%) (33%)

Source: Respective company’s unaudited consolidated financial statements based on IFRS and management reports Notes: Based on adjusted EBITDA margins (adjusted for share based compensation) (1) Adjusted EBITDA as a percentage of GMV for Lazada, Linio and Jumia 45 LPV Update as of End of April 2015

€bn 1.4 6.0 +€2.0bn 56 – 153 - 236 Since IPO +€2.0bn 96 – 188 - 87 0.2 4.6 +€1.1bn 0.2 +€0.1bn 0.6 DH, NR, (1) 255 – 194 - 51 PB 0.3 0.1 3.2 170 – 77 - 200

244 – 124 - 52

22 – 167 - 163

174 – 218 - 241

Proven Emerging Concepts Regional Strategic Other Total LPV Cash Total LPV Winners Stars Internet Groups Participations Investments (April 15) + cash

Notes: (1) Delivery Hero, LaNeveraRoja, Pizzabo

46 LPV Distribution by Geography

LPV split

Russia & CIS Middle-East 4% 2% 56 – 153 - 236 Africa 4% Global Online Europe 96 – 188 - 87 Takeaway Group 6% 30%

255 – 194 - 51 Others 9%

170 – 77 - 200

244 – 124 - 52 LatAm 10%

22 – 167 - 163 International 21% Asia-Pacific 174 – 218 - 241 14%

Source: Company information Notes: International includes Westwing, Home24, HelloFresh, CupoNation, Wimdu, Helpling; Global Online Takeaway Group includes foodpanda, Delivery Hero, Pizzabo, LaNeveraRoja; LatAm includes Dafiti, LIG, Linio, Tripda; Africa includes Jumia (non-AIG stake), AIG; Middle-East includes Namshi, MEIG; Russia & CIS includes Lamoda; Asia-Pacific includes Jabong, Lazada, Zalora, APACIG, Traveloka; Europe includes PAYMILL, Lendico, Zencap, Travelbird, EatFirst, Bonativo, Shopwings, Spaceway, Zipjet, Spotcap 47 LPV Distribution by Sector LPV €bn

1.8 2% 2% 56 – 153 - 236 4% 8% 38% 96 – 188 - 87 9% Total 255 – 194 - 51 LPV 12% 170 – 77 - 200 13% 13% 0.6 244 – 124 - 52 0.6 0.6 0.4 0.4 22 – 167 - 163 0.2 0.1 0.1 174 – 218 - 241

Travel Marketplace Financial General Others Home & Living Regional Fashion Food & Grocery Technology Merchandise Internet Groups Source: Company information Note: Fashion includes Dafiti, Lamoda, Zalora, Jabong, Namshi; General Merchandise includes Jumia (non-AIG stake), Linio, Lazada; Home & Living includes Home24, Westwing; Food & Grocery includes HelloFresh, foodpanda, Delivery Hero, Pizzabo, LaNeveraRoja, Shopwings, Bonativo, Eatfirst; Marketplace includes Helpling, CupoNation, Tripda, Spaceway, ZipJet; Financial Technology includes Lendico, Zencap, PAYMILL, Spotcap; Travel includes Traveloka, Travelbird, Wimdu; Regional Groups includes AIG, APACIG, MEIG, LIG

48 Delivery Hero Maintains Strong Growth Trajectory in 2015

Orders GMV (m) (€m) 56 – 153 - 236

Quarterly Quarterly 96 – 188 - 87 39 657 Already 65% of Already 69% of 255 – 194 - 51 H2 2014 H2 2014

17 295 170 – 77 - 200 304 +201% 16 +240%

244 – 124 - 52 98 5 22 – 167 - 163

174 – 218 - 241 2013A 2014A Q1 2014A Q1 2015A 2013A 2014A Q1 2014A Q1 2015A

Source: Unaudited Delivery Hero information (management accounts)

49 foodpanda

Key Financials and KPIs Pro Forma Key Highlights 2014 56 – 153 - 236 FY FY €m Increasing importance of mobile with 8m mobile 2013 2014 96 – 188 - 87 app downloads and 39% of all orders coming from GMV (€m) 6.5 116.7 mobile devices % YoY growth n/m 255 – 194 - 51 Key partnerships: Agreements with leading Net Revenues 0.7 6.7 messaging apps such as WeChat, Viber and Talk % growth 838.9% 170 – 77 - 200 Gross profit 0.7 6.5 Complementary acquisitions in key countries like Russia, Hungary, Croatia, Serbia and Bosnia % margin 93.0% 97.4% 244 – 124 - 52 Adj. EBITDA(1) (12.0) (34.0) Asset swap with Delivery Hero complementing % margin n/m n/m each others strength with foodpanda receiving the Mexican and Indian businesses of Delivery Hero 22 – 167 - 163 Cash position 8.7 44.5 Total orders (m) 0.4 8.7 Operational Update 2015 174 – 218 - 241 % YoY growth n/m Available restaurants (k) 6.9 46.1 Acquisition of Just Eat’s India business as well % YoY growth n/m as various other businesses in South East Asia such as Food by Phone in Thailand and Koziness in Hong Kong

Source: Company’s unaudited consolidated financial statements based on IFRS and management reports Notes: 2014 KPIs are pro forma for acquisitions (1) Adjusted for share based compensation expenses 50 HelloFresh

Key Financials and KPIs Key Highlights 2014 56 – 153 - 236 FY FY H2 H2 €m Nationwide coverage in US since September 2013 2014 2013 2014 96 – 188 - 87 Net revenues 14.6 70.1 n/a 47.8 Opening of two additional fulfillment facilities in San Francisco (CA) and Fort Worth 255 – 194 - 51 % growth 379.9% (TX)

Adj. EBITDA(1) (5.2) (11.9) n/a (9.6) Launch of TV advertising 170 – 77 - 200 % margin (35.8%) (17.0%) (20.0%)

244 – 124 - 52 Cash position 3.8 19.8 n/a 19.8 Operational Update 2015 Servings delivered (m) 2.4 12.5 1.5 8.6 Continued strong growth trajectory across all 22 – 167 - 163 % YoY growth 427.3% 459.7% geographies

33.5 171.7 33.5 171.7 Entry into Belgian market in January 2015 174 – 218 - 241 Active subscribers (k)

% YoY growth 413.4% 413.4% Additional €110m primary investment from Rocket Internet and Insight Venture Partners closed in February 2015

Source: Company’s unaudited consolidated financial statements based on IFRS and management reports (1) Adjusted for share based compensation expenses 51 Global Fashion Group

56 – 153 - 236

96 – 188 - 87

255 – 194 - 51

170 – 77 - 200 $

244 – 124 - 52 27 >€1bn >9m 19m markets GMV customers orders 22 – 167 - 163

174 – 218 - 241

Source: Unaudited company information Note: All KPIs are for FY 2014; total customers excluding Jabong

52 Global Fashion Group

2014 Net revenue 56 – 153 - 236 €m 628 96 – 188 - 87 (1) (1) 190 186

255 – 194 - 51

117 (1) 100 170 – 77 - 200

(1) 244 – 124 - 52 34

22 – 167 - 163 Pro-forma combined 174 – 218 - 241 (2) (2) (2) (2) BRL 592m RUB 9,496m INR 8,114m AED 168m

Source: Respective company’s unaudited consolidated financial statements based on IFRS and management reports Notes: (1) Converted to EUR using 1-Jan-14 – 31-Dec-14 average FX rate: EUR/BRL = 3.12, EUR/RUB = 51.01, EUR/INR = 81.07, EUR/AED = 4.88 (2) FY 2014 Net revenue in respective reporting currency

53 Dafiti

Key Financials and KPIs Key Highlights 2014 56 – 153 - 236 FY FY H2 H2 BRLm Continued investment in logistics 2013 2014 2013 2014 96 – 188 - 87 infrastructure and fulfillment Net revenues 419.3 592.2 230.5 331.2 % growth 41.2% 43.7% Successful implementation of SAP 255 – 194 - 51 Gross profit 143.0 222.4 74.4 120.0 Significant diversification and expansion of % margin 34.1% 37.6% 32.3% 36.2% brand portfolio including high street brands 170 – 77 - 200 Adj. EBITDA(1) (201.2) (208.2) (99.6) (114.0) such as Dorothy Perkins and Benetton % margin (48.0%) (35.2%) (43.2%) (34.4%) Introduction of a fitting technology and a Cash position 193.8 41.7 193.8 41.7 244 – 124 - 52 new recommendation engine GMV (BRLm) 456.7 625.9 248.9 354.3 % YoY growth 37.1% 42.4% Operational Update 2015 22 – 167 - 163 Total orders (m) 3.3 4.4 1.8 2.5 % YoY growth 34.3% 41.6% Expansion into new warehouses in certain 174 – 218 - 241 Total customers (m) 2.4 3.7 2.4 3.7 countries ongoing and on track % YoY growth 57.4% 57.4%

Active customers (LTM, m) 1.6 2.1 1.6 2.1

% YoY growth 28.9% 28.9%

Source: Company’s unaudited consolidated financial statements based on IFRS and management reports (1) Adjusted for share based compensation expenses 54 Lamoda

Key Financials and KPIs Key Highlights 2014 56 – 153 - 236 FY FY H2 H2 RUBm Expansion of brands portfolio by adding key 2013 2014 2013 2014 96 – 188 - 87 high street brands such as Lacoste, Adidas and Net revenues 5,150.0 9,496.2 3,354.8 5,693.7 Dorothy Perkins % growth 84.4% 69.7% 255 – 194 - 51 Gross profit 2,038.2 3,879.1 1,265.8 2,320.2 Successful introduction of first London based % margin 39.6% 40.8% 37.7% 40.7% private label “Lost Ink”

170 – 77 - 200 Adj. EBITDA(1) (1,883.0) (2,158.1) (958.4) (922.1) Launch of a 3rd party eCommerce service solution % margin (36.6%) (22.7%) (28.6%) (16.2%) 244 – 124 - 52 Cash position 2,607.9 681.3 2,607.9 681.3 Operational Update 2015 GMV (RUBm) 11,772.6 23,527.2 7,893.7 14,855.4 22 – 167 - 163 % YoY growth 99.8% 88.2% Expanded SKU count to >100,000, adding Total orders (m) 2.3 3.9 1.5 2.2 additional key brands to the portfolio 174 – 218 - 241 % YoY growth 70.3% 51.9% Total customers (m) 1.4 2.7 1.4 2.7 Continue to benefit from economies of scale and processes improvements % YoY growth 88.2% 88.2%

Active customers (LTM, m) 1.1 1.7 1.1 1.7

% YoY growth 52.1% 52.1%

Source: Company’s unaudited consolidated financial statements based on IFRS and management reports (1) Adjusted for share based compensation expenses 55 Jabong

Key Financials and KPIs Key Highlights 2014 56 – 153 - 236 CY CY H2 H2 INRm Significant expansion of brand portfolio 2013 2014 2013 2014 96 – 188 - 87 including Mango, G-star Raw, Dorothy Perkins Net revenues 3,442.9 8,114.1 2,309.8 4,867.7 and others as well as product lines designed by % growth 135.7% 110.7% leading Bollywood actors 255 – 194 - 51 Gross profit (321.0) (1,595.8) (165.6) (1,027.7) Introduction of “Shop the look”, giving % margin (9.3%) (19.7%) (7.2%) (21.1%) customers the possibility to purchase an entire 170 – 77 - 200 Adj. EBITDA(1) (2,357.0) (4,540.1) (1,153.2) (2,990.7) outfit % margin (68.5%) (56.0%) (49.9%) (61.4%) Successful extension of the delivery service 244 – 124 - 52 Cash position 8,532.1 2,894.1 8,532.1 2,894.1 to “next door delivery”, enabling customers to pick up packages at nearby shops GMV (INRm) 5,113.7 13,206.4 3,387.5 8,111.6 22 – 167 - 163 % YoY growth 158.3% 139.5% Operational Update 2015 Total orders (m) 2.6 5.9 1.6 3.7 174 – 218 - 241 Implemented real time order tracking feature % YoY growth 131.7% 125.1% for customers 3.4 8.7 2.2 5.5 Total transactions (m) Continued development of marketplace % YoY growth 158.7% 152.2% platform

Source: Company’s unaudited consolidated financial statements based on IFRS and management reports (1) Adjusted for share based compensation expenses 56 Namshi

Key Financials and KPIs Key Highlights 2014 56 – 153 - 236 FY FY H2 H2 AEDm Expansion of warehouse facility and own last 2013 2014 2013 2014 96 – 188 - 87 mile delivery service Net revenues 53.2 167.7 33.9 107.8 % growth 215.2% 218.1% Rebranding of the Namshi site 255 – 194 - 51 Gross profit 24.3 91.0 14.4 59.7 Relaunch of mobile apps for iOS and Android % margin 45.7% 54.3% 42.6% 55.3% improving user experience 170 – 77 - 200 Adj. EBITDA(1) (37.1) (4.5) (18.3) 7.4 % margin (69.7%) (2.7%) (53.9%) 6.8% Extension of marketing into offline channels such as TV advertising Cash position 17.9 31.9 17.9 31.9 244 – 124 - 52 GMV (AEDm) 62.9 200.4 38.9 128.0 Operational Update 2015 % YoY growth 218.8% 229.3% 22 – 167 - 163 Total orders (m) 0.2 0.5 0.1 0.3 Moved to new facility in Dubai to % YoY growth 206.6% 219.0% accommodate growth 174 – 218 - 241 Total customers (m) 0.1 0.3 0.1 0.3 Improving brand offering with introduction of % YoY growth 195.5% 195.5% multiple global fashion brands Active customers (LTM, m) 0.1 0.2 0.1 0.2

% YoY growth 207.8% 207.8%

Source: Company’s unaudited consolidated financial statements based on IFRS and management reports (1) Adjusted for share based compensation expenses 57 Zalora

Key Financials and KPIs Key Highlights 2014 56 – 153 - 236 FY FY H2 H2 €m Expansion of brand portfolio, in particular 2013 2014 2013 2014 96 – 188 - 87 introduction of private labels Zalora and Zalia Net revenues 68.8 117.3 n/a 73.5 % growth 70.5% Scaling up of the marketplace model, offering 255 – 194 - 51 Gross profit 26.3 40.0 n/a 25.8 a broader set of products % margin 38.2% 34.1% 35.1% Adj. EBITDA(1) (61.7) (68.1) n/a (39.3) Introduction of pop-up stores across its 170 – 77 - 200 % margin (89.7%) (58.0%) (53.5%) region significantly increasing the appeal to Cash position 90.9 86.4 90.9 86.4 people not having used Zalora GMV (€m) 84.0 151.6 45.5 96.0 244 – 124 - 52 % YoY growth 80.3% 111.0% Total orders (m) 2.0 3.8 1.1 2.3 Operational Update 2015 22 – 167 - 163 % YoY growth 89.5% 114.0% Total transactions (m) 2.0 3.9 1.1 2.4 Successfully introduced ZALORA Chinese % YoY growth 91.4% 116.4% New Year collection, with great feedback from 174 – 218 - 241 Total customers (m) 1.3 2.7 1.3 2.7 customers % YoY growth 102.2% 102.2% Moved to a larger warehouse in Singapore Active customers (LTM, m) 1.0 1.8 1.0 1.8 % YoY growth 72.9% 72.9%

Source: Company’s unaudited consolidated financial statements based on IFRS and management reports (1) Adjusted for share based compensation expenses

58 Lazada

Key Financials and KPIs Key Highlights 2014 56 – 153 - 236 FY FY H2 H2 $m Active marketplace merchants increasing 2013 2014 2013 2014 96 – 188 - 87 significantly to approximately 10,000 in GMV 94.8 383.8 59.5 274.2 December 2014 as key driver of growth % growth 304.8% 361.0% 255 – 194 - 51 Net revenues 75.5 154.3 n/a 89.7 Expansion of the fulfillment network to 8 % growth 104.2% warehouses and a dedicated last mile delivery Gross profit 5.2 22.4 n/a 16.4 fleet with 50 hubs 170 – 77 - 200 % margin 6.9% 14.5% 18.3% Adj. EBITDA(1) (58.5) (146.7) n/a (95.4) Secured a €200m funding round from Temasek and existing investors 244 – 124 - 52 % margin (77.4%) (95.1%) (106.3%) Cash position 251.8 198.0 251.8 198.0 Operational Update 2015 22 – 167 - 163 Total orders (m) 1.2 3.4 0.8 2.1 % YoY growth 176.1% 158.9% Continued rapid growth with annualized GMV Total transactions (m) 1.3 6.9 0.8 5.0 reaching $1bn in March 174 – 218 - 241 % YoY growth 432.3% 495.5% Assortment expansion is key growth driver Total customers (m) 0.9 3.9 0.9 3.9 with active SKUs increasing >50% since % YoY growth 352.2% 352.2% December Active customers (LTM, m) 0.8 3.3 0.8 3.3 Mobile continues to grow as share of total % YoY growth 331.7% 331.7% orders reaches approximately 45%, supported by more than 3m app downloads in the quarter Source: Company’s unaudited consolidated financial statements based on IFRS and management reports (1) Adjusted for share based compensation expenses 59 Linio Key Financials and KPIs Key Highlights 2014

FY FY H2 H2 €m Expansion of fulfillment by last mile delivery 2013 2014 2013 2014 56 – 153 - 236 and partnering with local logistics carriers GMV 61.5 127.4 39.7 88.2 % growth 107.2% 122.5% Introduction of 3rd party fulfillment program 96 – 188 - 87 Net revenues 47.9 61.9 n/a 40.5 “Fulfillment by Linio” % growth 29.3% Launch of proprietary mobile apps for iOS Gross profit 4.7 4.9 n/a 3.6 255 – 194 - 51 and Android % margin 9.7% 8.0% 8.9% Adj. EBITDA(1) (29.6) (51.7) n/a (34.3) Launch of Linio Chile, Argentina, Panama 170 – 77 - 200 % margin (61.7%) (83.5%) (84.6%) and Ecuador Cash position 21.1 58.0 21.1 58.0 Total orders (m) 0.6 1.0 0.4 0.6 244 – 124 - 52 % YoY growth 77.7% 55.8% Operational Update 2015 Total transactions (m) 0.6 1.5 0.4 1.0 22 – 167 - 163 % YoY growth 164.9% 162.8% More then 100% assortment ramp-up Total customers (m) 0.3 1.0 0.3 1.0 % YoY growth 193.8% 193.8% SKUs offered by multiple sellers (including Linio 174 – 218 - 241 Active customers (LTM, m) 0.3 0.8 0.3 0.8 retail) grouped on the same product page

% YoY growth 144.1% 144.1% Automation of processes, such as seller sign- up, pricing and content creation First Linio store recently launched for pick-up and sales Source: Company’s unaudited consolidated financial statements based on IFRS and management reports (1) Adjusted for share based compensation expenses 60 Jumia Key Financials and KPIs Key Highlights 2014

FY FY H2 H2 €m Triple-digit growth rate driven by: 2013 2014 2013 2014 Expansion into four new countries (Cameroon, GMV 34.7 94.5 23.4 64.3 56 – 153 - 236 Ghana, Tanzania and Uganda) % growth 172.0% 174.6% Net revenues 29.0 61.8 n/a 41.0 Massive effort for Black Friday 96 – 188 - 87 % growth 113.2% Expansion of product assortment and Gross profit 4.2 11.0 n/a 8.3 introduction of new brands % margin 14.6% 17.8% 20.1% 255 – 194 - 51 Adj. EBITDA(1) (30.5) (47.7) n/a (10.5) Improvement of profitability driven by: % margin (105.4%) (77.1%) (25.6%) Economies of scale 170 – 77 - 200 Cash position 11.2 21.3 11.2 21.3 Development of marketplace Total orders (m) 0.5 0.9 0.3 0.5 Increase of share of orders from mobile % YoY growth 94.0% 81.3% 244 – 124 - 52 (introduction of iOS app) Total transactions (m) 0.5 1.2 0.3 0.8 % YoY growth 159.0% 164.6% Acceleration of synergy implementation with its 22 – 167 - 163 Total customers (m) 0.2 0.6 0.2 0.6 telecom partners (MTN and Tigo) % YoY growth 156.7% 156.7% Introduction of express delivery in Lagos (Nigeria) Active customers (LTM, m) 0.2 0.5 0.2 0.5 174 – 218 - 241 Operational Update 2015 % YoY growth 132.3% 132.3% Pursuit of geographic expansion with the launch of Jumia in Algeria and Angola Strong focus on mobile and marketplace expansion Source: Company’s unaudited consolidated financial statements based on IFRS and management reports (1) Adjusted for share based compensation expenses 61 Home24

Key Financials and KPIs Key Highlights 2014 56 – 153 - 236 FY FY H2 H2 €m Geographic expansion into Italy 2013 2014 2013 2014 96 – 188 - 87 Net revenues 92.8 160.1 n/a 100.7 Launch of a new online shop in Q2 % growth 72.5% Expansion of logistics infrastructure by 255 – 194 - 51 Gross profit 36.2 58.9 n/a 34.2 opening new warehouses in Germany and 39.0% 36.8% 34.0% % margin Poland to shorten delivery times Adj. EBITDA(1) (31.6) (49.4) n/a (37.2) 170 – 77 - 200 % margin (34.0%) (30.8%) (37.0%) Cash position 34.0 29.7 34.0 29.7 244 – 124 - 52 GMV (€m) 97.8 189.2 49.3 120.1 % YoY growth 93.4% 143.3% Operational Update 2015 22 – 167 - 163 Total orders (m) 0.5 1.0 0.3 0.6 % YoY growth 79.6% 121.7% Further expansion of logistics infrastructure in Total customers (m) 0.7 1.4 0.7 1.4 Germany, Poland and Brazil 174 – 218 - 241 % YoY growth 100.5% 100.5% Launch of new Mobile App 0.4 0.8 0.4 0.8 Active customers (LTM, m) Launch of signature product KINX % YoY growth 75.7% 75.7%

Source: Company’s unaudited consolidated financial statements based on IFRS and management reports (1) Adjusted for share based compensation expenses Westwing

Key Financials and KPIs Key Highlights 2014

56 – 153 - 236 High level of customer loyalty FY FY H2 H2 €m 2013 2014 2013 2014 96 – 188 - 87 Scaling of marketing and successful Net revenues 110.4 183.3 n/a 107.2 introduction of TV advertising % growth 66.1% 255 – 194 - 51 Gross profit 44.9 79.3 n/a 46.6 Investment in fulfillment capacity to further % margin 40.7% 43.3% 43.4% improve efficiency and customer satisfaction Adj. EBITDA(1) (36.7) (46.9) n/a (24.4) 170 – 77 - 200 Continued focus on inspiration and curation % margin (33.3%) (25.6%) (22.7%) Cash position 29.7 20.7 29.7 20.7 Expansion into five new countries 244 – 124 - 52 GMV (€m) 118.2 193.8 62.1 108.8 % YoY growth 63.9% 75.3% Operational Update 2015 22 – 167 - 163 Total orders (m) 1.2 2.2 0.6 1.2 % YoY growth 85.2% 94.6% Opening of WestwingNow online shop leveraging brand and customer base Total customers (m) 0.6 1.2 0.6 1.2 174 – 218 - 241 % YoY growth 98.5% 98.5% Increasing offline marketing, including TV Active customers (LTM, m) 0.4 0.8 0.4 0.8 advertising rolled out in additional geographies

% YoY growth 76.2% 76.2% Technology push, especially mobile platforms, warehouse management system and supply chain software

Source: Company’s unaudited consolidated financial statements based on IFRS and management reports (1) Adjusted for share based compensation expenses 63 56 – 153 - 236

96 – 188 - 87

255 – 194 - 51

170 – 77 - 200

244 – 124 - 52 Update Emerging

22 – 167 - 163

174 – 218 - 241 Stars Emerging Stars – Marketplace Helpling

78 143 248 days days days 56 – 153 - 236

From idea To launch in additional To go global to launch 4 EU countries 96 – 188 - 87

Sep -Dec 2014

255 – 194 - 51 Goes global with launch in Sao 170 – 77 - 200 July-August 2014 Paulo, Brazil

10,000th apartment Go live achieved in 244 – 124 - 52 May-June 2014 cleaned Spain and Canada

Expands outside Moves to new Raised Series A 22 – 167 - 163 funding of $17m March-April 2014 Germany with Go headquarters in live achieved in Berlin Mitte Website goes live in multiple countries 174 – 218 - 241 Go live achieved in January 2014 Germany including: Italy Austria Decision to launch First apartment • App with one-touch Helpling cleaned • Sweden booking goes live 10 programmers • Netherlands Live in 10 biggest from Rocket Internet France First TV spot aired cities in Germany • start developing the throughout Europe

website 65 Emerging Stars – Marketplace Helpling

56 – 153 - 236 Key metrics Key Highlights 2014

96 – 188 - 87 (’000s) H1 2014 H2 2014 Successful launch within less than 3 months Gross Transaction Volume (€) 184 2,947 International expansion to Austria, Sweden, 255 – 194 - 51 Netherlands, France, Spain, Canada and Brazil Total hours booked 14 213 Introduction of mobile app 170 – 77 - 200

Total Unique visitors 139 1,619 244 – 124 - 52 Operational Update 2015

22 – 167 - 163 Successful financing round subscribed by Lakestar among others 174 – 218 - 241

Source: Unaudited company information

66 Emerging Stars – Travel

Description Key Metrics

56 – 153 - 236 FY FY Leading European travel inspiration platform (‘000) 2013 2014 Offers curated travel packages including 96 – 188 - 87 daily deals, short trips, city trips and family GTV (€m) 37.3 95.6 holidays for the mid market % growth 156.3% 255 – 194 - 51 Founded in 2010; now present in 17 countries Total orders 215 491 170 – 77 - 200 Over 25% Rocket Internet ownership since late April 2015 Active customers 164 380

244 – 124 - 52 120 (1) (1) Leading flight and hotel booking platform in “Traveloka” “Travel” Indonesia 100 22 – 167 - 163 80 c.130 employees 60 174 – 218 - 241 Traveloka Founded in 2012 40 20 0 Jan-2013 Dec-2013 Dec-2014

Source: Unaudited company information; Google Trends Notes: (1) Compares search terms “Traveloka” and “Travel” in Indonesia between January 2013 and December 2014 67 Emerging Stars – Fintech

Description Key Metrics

56 – 153 - 236 H1 H2 Connects private borrowers and investors by 2014 2014 creating a transparent marketplace for loans Number of loans newly 252 874 96 – 188 - 87 issued Founded in 2013 Total loan applications 29,053 55,131 received 255 – 194 - 51 Total unique visitors (k) 717 778

H1 H2 170 – 77 - 200 Online lending marketplace for small and mid- 2014 2014 sized enterprises Number of newly issued loans 10 87 244 – 124 - 52 Connects entrepreneurs seeking funding with Volume of newly issued loans (€k) 433 4,472 investors Total loan applications received 115 682 Founded in 2013 22 – 167 - 163 Total unique visitors (k) 53 118 FY FY Online payment solution for small and 2013 2014 174 – 218 - 241 medium-sized merchants GTV (€m) 19.8 69.2 Partnership with Comvation % growth 249.5% Total transactions (k) 345 981 Now part of payment JV with PLDT Active retailers 1,165 2,318

Source: Unaudited company information

68 Emerging Stars – eCommerce

Description Key Metrics

56 – 153 - 236 CY CY (‘000) Leading online shopping platform for home & 2013 2014 living goods in India 96 – 188 - 87 GMV (INRm) 369.1 828.8 65k products from 500 brands across 50 % growth 124.5% categories 255 – 194 - 51 Total orders 187 434 3rd party delivery and after-sales network, serving over 3,500 cities across India Number of unique visitors 10,005 22,751 170 – 77 - 200 FY FY (‘000) A leading online shopping platform for home 2013 2014 244 – 124 - 52 & living products in Australia GMV (AUDm) 4.0 9.1 Offers a variety of top brands with more than % growth 129.9% 22 – 167 - 163 35,000 products on its platform Total orders 29 57 Moved to new warehouse in Sep 2014 174 – 218 - 241 Number of unique visitors 1,537 2,150

Source: Unaudited company information

69 Emerging Stars – Marketplaces

Description Key Metrics

56 – 153 - 236 FY FY Offers coupons and vouchers from leading 2013 2014 online retailers 96 – 188 - 87 Gross transaction volume (€m) 7.3 80.4 Operates in 15 countries across Europe, CIS, Total transactions (k) 248 1,569 Latin America and Asia-Pacific

255 – 194 - 51 Active retailers 2,036 16,218 Partnership with Coupon Voodoo Commission (€k) 545 4,190 Number of unique visitors (k) 3,107 19,094 170 – 77 - 200 FY FY (‘000) Online platform offering short-term rentals 2013 2014 and private accommodation Gross transaction volume 244 – 124 - 52 70.3 92.5 (€m) Apartments in more than 140 countries on six Number of bookings 176 230 continents 22 – 167 - 163 Number of room nights 1,190 1,607 Number of customer room Inventory of 300,000 listings 3,602 5,138 nights

174 – 218 - 241

Source: Unaudited company information

70 Rocket Financial Performance on Track

Significant growth of Proven Winners on average of 82%(1) up to c.400% 56 – 153 - 236

96 – 188 - 87 Significant adjusted EBITDA margin improvement on average of 21pp(2)

255 – 194 - 51 Significant LPV uplift 170 – 77 - 200

244 – 124 - 52 Continued diversification of LPV both by:

22 – 167 - 163 Geography

174 – 218 - 241 Sectors

Source: Unaudited company information Notes: (1) Growth shown is derived from the sum of the individual Proven Winners’ net revenue; net revenue that was originally reported in a currency other than € were converted to € using average exchange rates; 2013 numbers were translated using the same 2014 average exchange rates; (2) Excludes foodpanda margin, adjusted EBITDA as a percentage of GMV for Lazada, Linio and Jumia; EBITDA is adjusted for share based compensation expenses 71 56 – 153 - 236

96 – 188 - 87

255 – 194 - 51

170 – 77 - 200

244 – 124 - 52 Update Regional

22 – 167 - 163

174 – 218 - 241 Internet Groups AIG – At a Glance

23 822 90% 7 44 78 of total African operations countries population (in m) companies operations in total GDP launched in 2014 56 – 153 - 236 Morocco Algeria Tunisia Egypt

Senegal Leading commerce platform 12 96 – 188 - 87 countries

255 – 194 - 51 Leading C2C marketplace 17 countries

170 – 77 - 200 Ethiopia Leading online takeaway 10 Uganda countries Kenya 244 – 124 - 52 Rwanda 6 Tanzania Leading hotel booking platform countries Ivory Coast 22 – 167 - 163 Ghana Mozambique Nigeria Leading taxi hailing platform 3 countries 174 – 218 - 241 Cameroon Gabon Congo Mauritius Leading real estate classifieds 21 countries Angola Madagascar Zambia Leading vehicle classifieds 9 South Africa Zimbabwe countries Source: IMF, The Economist, AIG

73 AIG has Significantly Expanded Its Footprint

56 – 153 - 236 78

96 – 188 - 87

255 – 194 - 51 34 23 170 – 77 - 200 14 6 7 7 2 4

244 – 124 - 52 2012 2013 2014 # of companies # of countries # of operations 22 – 167 - 163

Number of (2) (1) >570 >1,300 >2,700 174 – 218 - 241 employees

Population in live >300m >600m >800m countries

Note: Company logo represents the launch (1) Total number of full time employees across all companies (2) Excluding Jumia 74 AIG is Present in the Most Promising African Countries

23% AIG countries: 77% 16/20 56 – 153 - 236 Target Population 822 million AIG is present in 16 out of the top 20 most African populous countries

96 – 188 - 87 8% AIG countries: 92% 17/20 Target Internet Users 252 million AIG is present in 17 out of the top 20 African countries by Internet users 255 – 194 - 51 25% AIG countries: Target Mobile 75% 17/20 170 – 77 - 200 616 million AIG is present in 17 out of the top 20 Subscribers African countries by mobile subs

244 – 124 - 52 10% AIG countries: 90% 16/20 Target GDP $2.2 trillion AIG is present in 16 our of the top 20 22 – 167 - 163 most African populous countries

10% AIG countries: 90% 17/20 174 – 218 - 241 Target Retail Value $421 billion AIG is present in 17 out of the top 20 countries by retail value

3% AIG countries: 97% 16/20 Target Travel Value $10.9 billion AIG is present in 16 out of the top 20 countries by travel value Source: IMF, Euromonitor, World Bank data Note: All data is for 2014 except mobile subscribers (2013)

75 Market Leadership in All Key African Countries Population GDP (m) (USD m) Nigeria 179 546 #1 #1 #1 #1 #1 #1 #1 56 – 153 - 236 South Africa 53 411 #1 96 – 188 - 87 Egypt 86 269 #2 #1

255 – 194 - 51 Algeria 38 212 #1 #1 #1 #1

145 170 – 77 - 200 Angola 22 #1 #1

Morocco 33 114 #1 #1 #1 #1 244 – 124 - 52 Kenya 46 58 #1 #1 #1 #1 #1 #1 22 – 167 - 163 Ethiopia 93 54 #1 #1 #1

174 – 218 - 241 Ghana 27 53 #1 #1 #1 #1 #1

Tunisia 11 51 #1 #1

Tanzania 50 37 #1 #1 #1 #1 #1 #1 Ivory Coast 26 34 #1 #1 #1 #1 #1 #1

76 Market Leadership in All Key African Countries Population GDP (m) (USD m)

Cameroon 23 32 #1 #1 #1 #1 #1 56 – 153 - 236

Zambia 15 28 #1 #1 96 – 188 - 87 Uganda 39 25 #1 #1 #1 #1 #1

255 – 194 - 51 Gabon 2 21 #1 #1

170 – 77 - 200 Mozambique 24 19 #1 #1 Congo- 4 17 #1 #1 244 – 124 - 52 Brazzaville

Senegal 14 16 #1 #1 #1 #1 22 – 167 - 163 Zimbabwe 13 14 #2 174 – 218 - 241 Mauritius 1 14 #2

Madagascar 24 12 #1

Rwanda 11 9 #1 #1 #1 #1

77 APACIG – At a Glance

15 1,049 4.6tn 12 15 43 operations countries population (in m) addressable GDP companies operations in total launched in 2014 56 – 153 - 236 Countries Leading C2C marketplace 6 96 – 188 - 87 Pakistan Leading consumer goods retailer 3

255 – 194 - 51 Leading vehicle classifieds 7

Leading real estate classifieds 6 170 – 77 - 200 Nepal Myanmar Leading household service platform 2 Bangladesh 244 – 124 - 52 Laos Philippines Leading hotel booking platform 1 Sri Lanka Vietnam Thailand Cambodia Leading taxi hailing platform 6 22 – 167 - 163 Malaysia Leading price comparison site 6 Singapore 174 – 218 - 241 Indonesia Leading career portal 2

Leading online supermarket 1 Australia Leading printing services platform 2

Leading bus booking platform 1 New Zealand

Source: IMF, company information 78 Asia Pacific Internet Group – Carmudi Car Classifieds

56 – 153 - 236

96 – 188 - 87

255 – 194 - 51

170 – 77 - 200 $

244 – 124 - 52 7 $1,933bn 3 150k 2m markets addressable no.1 market positions listings online visits/month 22 – 167 - 163 GDP

174 – 218 - 241

Source: Unaudited Carmudi information, IMF Note: Markets include Indonesia, Philippines, Pakistan, Vietnam, Bangladesh, Sri Lanka and Myanmar

79 Asia Pacific Internet Group – Lamudi Property Classifieds

56 – 153 - 236

96 – 188 - 87

255 – 194 - 51

170 – 77 - 200 $

244 – 124 - 52 6 $1,747bn 3 300k 850k markets addressable no.1 market positions listings online visits/month 22 – 167 - 163 GDP

174 – 218 - 241

Source: Unaudited Lamudi information, IMF Note: Markets include Indonesia, Philippines, Pakistan, Bangladesh, Sri Lanka and Myanmar

80 Latin America Internet Group – At a Glance

13 538 5.5tn 6 21 56 – 153 - 236 countries population (in m) addressable GDP companies operations in total

96 – 188 - 87 Mexico Leading taxi hailing platform 13

255 – 194 - 51 Costa Rica Colombia Venezuela Leading vehicle classifieds 1 170 – 77 - 200 Panama

Ecuador Brazil 244 – 124 - 52 Leading real estate classifieds 2 Peru

22 – 167 - 163 Bolivia Leading bus booking platform 3

174 – 218 - 241 Paraguay Leading eRetailer for outdoor 1 Uruguay sports Chile Leading eRetailer for toys & kids 1 products Argentina

Source: IMF, company information 81 Easy Taxi is the Leading Taxi App in Latin America

56 – 153 - 236

96 – 188 - 87

255 – 194 - 51

170 – 77 - 200

244 – 124 - 52 c.6m 18m 317k rides per month user base registered drivers

22 – 167 - 163

174 – 218 - 241

Source: Unaudited Easy Taxi information

82 MEIG – At a Glance

6 54 1.6tn 6 7 12 operations countries population (in m) addressable GDP companies operations in total 56 – 153 - 236 launched in 2014

96 – 188 - 87 Leading taxi hailing platform 3

255 – 194 - 51

Jordan Leading vehicle classifieds 3 170 – 77 - 200

244 – 124 - 52 Leading real estate classifieds 3

22 – 167 - 163 Leading commerce platform 1

Kuwait 174 – 218 - 241 Leading household service 1 United Arab Emirates platform

Bahrain Leading C2C marketplace 1 Saudi Arabia Qatar

Source: IMF, company information 83 56 – 153 - 236

96 – 188 - 87

255 – 194 - 51

170 – 77 - 200

244 – 124 - 52 Highlights

22 – 167 - 163

174 – 218 - 241 Strategic Participations Highlights – Strategic Participations

Description

56 – 153 - 236 Online platform for asset-backed lending

96 – 188 - 87 Offers fast and efficient loans against assets including fine art, antiques, jewelry, luxury watches etc.

255 – 194 - 51 Founded in 2009

170 – 77 - 200

244 – 124 - 52 Delivery of carefully sourced and nutritionist-approved snacks

22 – 167 - 163 Subscription model 5 pre-selected random snacks per month 174 – 218 - 241 Founded in early 2012 Active in the US

85 56 – 153 - 236

96 – 188 - 87

255 – 194 - 51

170 – 77 - 200

244 – 124 - 52 Rocket Internet –

22 – 167 - 163

174 – 218 - 241 Summary of 2014 Results Annual Results Rocket Internet – Consolidated Financials

56 – 153 - 236 Key Financials Key Highlights 2014

FY FY €m 96 – 188 - 87 2013 2014 Increase in sales driven by higher service revenues and topline growth of fully consolidated Sales 72.5 104.0 eCommerce companies Tricae and Kanui 255 – 194 - 51 EBIT significantly lower due to absence of big % growth 43.4% sale effects (Zalando in 2013) 170 – 77 - 200 EBIT 187.2 17.4 Net income significantly impacted by IPO expenses 174.2 (20.2) 244 – 124 - 52 Net Income / (Loss) Increase in cash & cash equivalents as a result Net Income / (Loss) before 174.2 14.2 of IPO proceeds and pre IPO capital increases extraordinary items(1) 22 – 167 - 163 subscribed by PLDT and United Internet Cash and Cash equivalents 437.4 2,053.5 174 – 218 - 241

Source: Audited consolidated financial statements 2014 Notes: (1) Net income / (loss) plus extraordinary expenses of €34.4m in 2014 (none in 2013)

87 56 – 153 - 236

96 – 188 - 87

255 – 194 - 51

170 – 77 - 200

244 – 124 - 52 Platform Update

22 – 167 - 163

174 – 218 - 241 Platform Update

New Headquarters in 2016 Platform 56 – 153 - 236

96 – 188 - 87

255 – 194 - 51

170 – 77 - 200

244 – 124 - 52 New building to offer office space of 22,000 square 60+ additional IT experts in H2 2014 22 – 167 - 163 metres Key focus on mobile development

Will host all Rocket Internet departments as well as Set up of new payment platform “MePay” 174 – 218 - 241 companies from Rocket’s global network Technology: Move expected to begin early next year and to be Creation of new efficient marketplace platform completed by the end of 2016 “SkyRocket”

89 MePay – Full Payment Ecosystem Solution

56 – 153 - 236 Payment Networks

96 – 188 - 87 Card & 255 – 194 - 51 eWallet Acquirer Issuer

170 – 77 - 200 Tech 244 – 124 - 52 Platform Merchant Licenses Customers Service 22 – 167 - 163 IP Patents Provider

174 – 218 - 241

Money In Money Out Merchants (cash)

90 MePay – Wallet Solution for the Unbanked and Uncarded Customers

56 – 153 - 236 Online Offline 96 – 188 - 87 Online Purchases Debit Card Purchases 255 – 194 - 51 Domestic Remittance 170 – 77 - 200 Bills Payment/Presentment International Remittance

244 – 124 - 52 ATM Capabilities Consumer Credit/Instalment Pay 22 – 167 - 163 Exclusive Loyalty Global P2P Transfers Promotions Programs 174 – 218 - 241

91 MePay – Superior Value Proposition for Merchants

56 – 153 - 236

Access to the Rocket-PLDT Best-in-class 96 – 188 - 87 un-banked/un-carded ecosystem of tested proprietary platform consumers customer base

255 – 194 - 51

170 – 77 - 200

244 – 124 - 52

22 – 167 - 163 $

174 – 218 - 241 Acquiring Payment processing Escrow services Merchant financing Corporate services

92 MePay – Significant Global Partnerships

56 – 153 - 236 Issuing & Acquiring Messaging Financial Services (in progress) 96 – 188 - 87

255 – 194 - 51

170 – 77 - 200

244 – 124 - 52

22 – 167 - 163 International Remittance Corporate Backing

174 – 218 - 241

93 56 – 153 - 236

96 – 188 - 87

255 – 194 - 51

170 – 77 - 200

244 – 124 - 52 2015 Update and

22 – 167 - 163

174 – 218 - 241 Outlook Update 2015 – We Continue the Pace

Key Achievements

Consolidation as global leader 56 – 153 - 236 Build-out of Global 40% stake in Delivery Hero (on a fully diluted basis) Online Takeaway Group Build-out of direct ownership stake in foodpanda 96 – 188 - 87 Already significant LPV uplift achieved

255 – 194 - 51 Roll-up complete Global Fashion Group CEO and CFO announcement 170 – 77 - 200

244 – 124 - 52 Achieving Majority foodpanda – >50% ownership 22 – 167 - 163 Ownership in Proven HelloFresh – 52% ownership Winners Home24 – 49% ownership

174 – 218 - 241 foodpanda round led by Goldman Sachs with €50m investment Successful Funding of (total funding round of €79m) Key Companies

95 Update 2015 – We Continue the Pace (Cont’d)

56 – 153 - 236 Key Achievements

Change of legal form to Societas Europaea to reflect 96 – 188 - 87 Change of Legal Form international nature of Rocket Internet 255 – 194 - 51 to SE

170 – 77 - 200 Secure infrastructure for continued build-out

244 – 124 - 52 Creation of emerging market payment company with PLDT Rocket Platform Strategic partnership in Philippines with PLDT 22 – 167 - 163

174 – 218 - 241 All Proven Winners report under IFRS IFRS conversion of Rocket Internet on track Conversion to IFRS

96 56 – 153 - 236

96 – 188 - 87

255 – 194 - 51

170 – 77 - 200

244 – 124 - 52 Lazada – Largest

22 – 167 - 163

174 – 218 - 241 eCommerce Platform in South East Asia Our mission

THE ONLINE DESTINATION SITE across South East Asia for customers & brands

Nov 21, 2014 “ECommerce startup Lazada is moving quickly in its quest to become South East Asia’s Amazon.”

Dec 30, 2014 “Lazada is a company that is expanding so fast in the region it is hard to keep up.” The Economist Mar 7, 2015 “Lazada’s rapid growth has started to rouse competitors, including the big conglomerates whose shopping centres dominate the region's retail markets.”

98 Lazada at-a-glance

COMPANY OVERVIEW LAZADA PRESENCE1

Lazada B2C eCommerce China • The online destination site in South East Asia market position

– Launched in Indonesia, Malaysia, Philippines, Thailand & HK / Shenzhen Vietnam in March 2012 Sourcing hub ~40 FTEs (15 operations) – Launched Singapore in May 2014 #1 #1 End-to-end ecosystem driving synergies & network effects Vietnam Philippines • Pop: 93m Pop: 108m #1 Thailand ~1000 FTEs ~1600 FTEs – Launched as pure retail operation to control supply chain & (550 operations) (1350 operations) Pop: 68m customer satisfaction ~700 FTEs (400 operations) – Transitioned to marketplace model to expand assortment at #1 Malaysia low risk & drive improved economics Pop: 30m Singapore ~550 FTEs Pop: 6m (350 operations) – Best-in-class logistics and payments capabilities to ~200 FTEs address key structural challenges (25 operations) #1 Indonesia Pop: 254m ~800 FTEs • Backed by Rocket Internet, Tesco, Temasek, Kinnevik, Summit (550 operations) Partners & J.P. Morgan Asset Management • HQ in Singapore with local offices Undisputed pan-South East Asia market leader addressing a ~550m population

Source: IMF database 1 Rounded numbers as of end of 2014; Variations in ‘operations' share of employees are due to differences in WH/FBL share, LEX share and customer services outsourcing 99 South East Asia eCommerce presents a massive, underpenetrated market opportunity…

COMPELLING MACRO SECULAR TRENDS 1 OUTSIZED GROWTH IN SE ASIA ECOMMERCE 5

Young population SE Asia eCommerce market (% of total) (US$ bn) Substantial 34% additional upside ~550 m 32% +18 Total population in SE Asia 2.5x 28% 8.0 % 7 GDP growth rate ’14 – ‘17 SEA China U.S. 2014 2017

NASCENT MARKET OPPORTUNITY INCREASING INCOME WILL DRIVE GROWTH 6

Smartphone 2014 Non-food eCommerce 3 Households > 10k disposable income 2 penetration (% of retail) (% of total population) 50% 75% US 13%

47% China 11% 29%

23% ASEANSEA < 1.7%

Indonesia is expected to surpass 100m smartphone users 4 and become the 4th largest smartphone population worldwide by 2018 2014 2019

Note: Refers to Indonesia, Malaysia, Thailand, Philippines and Vietnam; Young population defined as people between 15 – 34 1 IMF; Business Monitor International Database; 2 Ystats SE Asia eCommerce report; 3 Euromonitor; 4 eMarketer; 5 Frost & Sullivan and Euromonitor database; 6 EIU 100

…with structural challenges creating significant barriers to entry

Payments Logistics • Low credit card penetration • Undeveloped infrastructure • Local alternatives preferred • Scattered logistics networks • Cash on delivery needed • Geographic diversity

Supply chain Regulatory Culture & talent • Fragmented local merchant networks • Licensing different across 6 markets • User behavior varies across and within • Inexperienced local merchants • Licenses needed for eCommerce, 6 markets • Inefficient supply chain payments, logistics • Limited and inexperienced local talent • Challenging import / customs pool environment across markets • Language differences

Lazada is the ONLY eCommerce platform addressing the challenges of operating across 6 distinct markets in South East Asia, and has created a HARD-TO-REPLICATE PLATFORM

101 Lazada has achieved significant traction and scale across three key pillars

1

~$1billion ~5 million ~5 million

Annual GMV1 Total customers Daily visits PLATFORM

2

% ~75 ~15 ,000 ~1.6 million

Marketplace GMV Active seller partners2 Active SKUs ASSORTMENT

3

~85 % 58 61 Of our orders are shipped Last mile distribution hubs Logistics partners

within 48 hours LOGISTICS

Source: Company data (March 2015) 1 Based on March 2015 annualized GMV 102 2 Seller partners include marketplace sellers and retail suppliers 1 Lazada is the undisputed pan-South East Asia market leader…

LAZADA IS #1 ACROSS MAJOR LAUNCH COUNTRIES

Estimated monthly visits (m)1

Indonesia Malaysia Philippines Thailand Vietnam

LazadaLazada 41 LazadaLazada 14 LazadaLazada 25 LazadaLazada 18 Lazada 17

Tokopedia 10 Lelong 6 Metrodeal 4 Tarad 5 Amazon 4

Bukalapak 7 Amazon 1 Amazon 3 Amazon 2 Tiki.vn 4

Bhinneka 5 Qoo10 1 Villman 0 Cdiscount 1 Sendo 3

Elevenia 4 Rakuten 1 Goods 0 Ensogo 1 Yes24 0

BRAND AWARENESS and traffic has rapidly outgrown competition creating a lasting COMPETITIVE ADVANTAGE

Source: Similarweb (March 2015) 1 Based on data for desktop only 103 1 ...with early success in mobile massively extending Lazada’s leadership

MARKET LEADING MOBILE PLATFORM… ~50% TRAFFIC COMES FROM MOBILE • Best-in-class Android and iOS applications • Mobile optimized site for all major browsers 13% 25% • Innovative mobile marketing leveraging chat apps 40% 49% …WITH STRONG TRACTION

~7 million Android downloads 87% 75% 60% 51% iOS downloads ~3 million

1H13 2H13 1H14 2H14

million LINE followers ~7 Desktop Mobile

SEA is an upcoming MOBILE-FIRST market with only 23% smartphone penetration

Source: Google Analytics, Adjust, Ad-X and Line (March 2015) 104 1 Lazada is experiencing outsized growth

GROSS MERCHANDISE VALUE (US$ MILLION)

384

~4x 209

95 ~5x 45

2013 2014 Q1 2014 Q1 2015

Source: Company data 105 1 Lazada is experiencing outsized growth (cont’d)

KEY FINANCIALS AND KPIS HIGHLIGHTS

$m FY 2013 FY 2014  Rapid GMV growth – with 2014 4x of 2013 – has GMV 94.8 383.8 continued into the new year with annualized GMV % growth 304.8% reaching $1 billion in March 2015 Net revenues 75.5 154.3 % growth 104.2%  Adj. EBITDA loss more than doubled reflecting heavy expansion of own fulfillment fleet and investment Gross profit 5.2 22.4 into IT capabilities as well as increasing marketing % margin 6.9% 14.5% Adj. EBITDA (58.5) (146.7)  As a percentage of GMV adj. EBITDA margin % of GMV (61.7%) (38.2%) improved from 62% to 38% % of net revenues (77.4%) (95.1%) Cash position 251.8 198.0  Solid cash position with $198 million in the bank Total orders (m) 1.2 3.4 supported by cash generative working capital % growth 176.1% Total transactions (m) 1.3 6.9  Secured a €200m funding round from Temasek % growth 432.3% and existing investors - majority of cash only received in January 2015 Total customers (m) 0.9 3.9 % growth 352.2%  Customer base continuing to grow rapidly from 3.9 0.8 3.3 Active customers (LTM, m) million at the end of 2014 to 5.3 million end of Q1 2015 % growth 331.7%

Source: Company data 106 2 Lazada is building an ecosystem that generates network effects as the platform continues to scale

More transactions MORE MORE CUSTOMERS SELLER PARTNERS “One-stop shop” “Gateway to SEA”

6x 5.3m 4x 15k 3.9m 12k

0.9m 4k 8x 2013 2014 Q1 15 1.6m 2013 2014 Q1 15 1.0m • Across 6 countries • Local & international 0.2m • Rural and suburban • Across 13 categories 2013 2014 Q1 15

Growing assortment

Broader product assortment bring MORE CUSTOMERS, attracting MORE MERCHANTS: Creates a virtuous cycle driving FREE TRAFFIC, IMPROVED CURATION and PRICE LEVERAGE

Source: Company data 107 2 Marketplace has been engine for SKU growth with recent contribution from cross-border sourcing

MARKETPLACE HAS BEEN ENGINE ...RECENT SKU GROWTH ALSO OF SKU GROWTH... FROM CROSS BORDER SOURCING Total assortment #SKUs Total cross-border #SKUs live (Retail vs. marketplace) 415k 1.6m

285k 1.0m

0.7m 190k 0.4m

Q2 14 Q3 14 Q4 14 Q1 15 Feb-15 Mar-15 Apr-15

Retail Marketplace

Source: Company data 108 2 Lazada is the online destination site for SEA brands and shoppers to buy anything, anytime and anywhere

WIDE ASSORTMENT… …WITH STRONG BRAND & RETAIL PARTNERSHIPS IN PLACE

Main category Units sold1 (Sample) partnerships Recent partner and press quotes

Electronics “Rather than selling via our own site, as in China and few other places - we sell via Lazada because we want to offer a variety of payment options 35% to consumers including cash on delivery” (Xiaomi VP)

Home “With Robinson’s & Lazada partnership more & more Filipinos will enjoy Robinson’s Appliances through effortless + risk-free e-com” 2 28%

“Unicharm sees e-com as key driver for growth in SEA for Mamy Poko. Lazada is our key partner as they provide nationwide free FMCG delivery & access to variety of payment options” (Unicharm CEO TH) 23% “E-commerce is changing the retail landscape, giving consumers unprecedented access to quality premium brands. In SEA, Lazada is our strategic partner to jointly unlock the potential” (L’Oreal) Fashion & Accessories 14% “…while we continue to expand our b&m stores, Lazada will help us reach out to more consumers so they can enjoy hassle-free Penshoppe shopping wherever, whenever” (Penshoppe CEO)

Source: Company data 1 As of Q1 2015 109 2 Manila Bulletin 3 Lazada is solving the region logistics and supply chain challenges

South East Asia region is a Lazada is developing solutions for challenging environment these challenges

• Shallow, unsophisticated and inefficient • Ramp up of own fleet last mile capability Transport transport networks (3PLs) • Granular management multiple 3PLs network • Long & variable lead-times • Full technology integration with 3PLs

• Poor warehouse infrastructure • Ramp up of fulfillment network (main metro Fulfillment • Limited 3rd party offering fulfillment center & short tail fulfillment centers) • Build of own fulfillment centers (build to suit)

• High variability of supplier sophistication • Training & coaching of merchants, simple & Supply Chain • Low penetration of technology & online intuitive online platforms • Integration & control of supply chain with direct pick-up at merchant

• Low credit card penetration & high costs • Biggest & first network of cash on delivery Payment • Low trust & fraud aversion • Credit card on delivery • Online wallet

110 3 Lazada network continued expansion

LEX REACH 3PL LOGISTICS NETWORK

# of LEX hubs in South East Asia # of 3PL-Lazada partnership

58 61

45 46 36 39 34 24 20 29

Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015

• LEX network includes today 58 hubs across South • Continuously improving transport network East Asia from which we deliver to our customers – Additional capacity to handle growing • LEX current footprint has a reach of >70% of volumes & peaks / single days Lazada customers and covers close to 100 cities – Value added services (e.g., express) • Organization acts as a service provider for Lazada – Special freight handling (e.g., bulky) – Reverse logistics / pick-ups Lazada continues to ramp up last mile Transport network is deepening with increasing capability (LEX – Lazada Express) number of integrated 3PL partnerships

Source: Company data 111 56 – 153 - 236

96 – 188 - 87

255 – 194 - 51

170 – 77 - 200

244 – 124 - 52 Q&A

22 – 167 - 163

174 – 218 - 241 56 – 153 - 236

96 – 188 - 87

255 – 194 - 51

170 – 77 - 200

244 – 124 - 52 Appendix

22 – 167 - 163

174 – 218 - 241 Funding Transactions Since the Rocket Internet IPO

56 – 153 - 236 Proven Winners

96 – 188 - 87 (€m)

255 – 194 - 51 Funding received 110.0 233.7 23.9(5)

170 – 77 - 200 Rocket investment 130.2(2) 116.5(4) 10.4(6)

244 – 124 - 52 Total LPV 623.8(3) 559.3 822.8 22 – 167 - 163 Rocket LPV impact(1) +273.8 +199.6 +160.1 174 – 218 - 241 Rocket stake at IPO vs now (%) 37.1 / 51.7 44.9 / 50.0 49.5 / 49.4 Notes: (1) Impact on Rocket Share of LPV compared to Rocket Internet IPO on 2nd October 2014 (2) Includes €30.1m and €0.1m acquisition of secondary shares (3) On a pre additional management participation basis (4) Includes €8.0m and €6.4m of secondary shares (5) Includes €1.1m purchase of treasury shares (6) Includes €1.1m purchase of treasury shares and €0.4m acquisition of secondary shares 114 Funding Transactions Since the Rocket Internet IPO

Proven Winners 56 – 153 - 236 (€m) 96 – 188 - 87

255 – 194 - 51 Funding received 200.0 120.0 55.5

170 – 77 - 200 Rocket investment 15.3 0.5(3) 10.0(5)

244 – 124 - 52 Total LPV 957.8(2) 445.0 479.5

22 – 167 - 163 Rocket LPV impact(1) +93.3 +15.3(4) +33.9

174 – 218 - 241 Rocket stake at IPO vs now (%) 26.7 / 23.8 26.8 / 28.7 33.7 / 31.8(5)

Notes (1) Impact on Rocket Share of LPV compared to Rocket Internet IPO on 2nd October 2014 (2) Equivalent to €1bn considering 100% of the Lazada business (3) Acquisition of secondary shares (amount paid for together Jumia and Zanui shares) (4) Represents only the increase in the share-weighted LPV for Jumia held via AEH New Africa eCommerce I (formerly BGN Brillant Services Bigfoot II). The additional stake of Rocket Internet of 20.6% held via Africa Internet Group is not included (5) Includes €9.6m Rocket Internet secondary purchase of shares in Westwing SPV. Post transaction, Westwing SPV is 100% owned by Rocket Internet (pre transaction: 92.0%) 115 Funding Transactions Since the Rocket Internet IPO

56 – 153 - 236 Emerging Stars

96 – 188 - 87 (€m)

255 – 194 - 51 Funding received 41.4(2) 26.5 6.0

170 – 77 - 200 Rocket investment 5.0 26.5 1.0

244 – 124 - 52 Total LPV 107.9 156.5 39.0 22 – 167 - 163 Rocket LPV impact(1) +24.5 +33.9 +1.0 174 – 218 - 241 Rocket stake at IPO vs now (%) 59.8 / 33.8 10.0 / 25.2 44.7 / 40.4

Notes: (1) Impact on Rocket Share of LPV compared to Rocket Internet IPO on 2nd October 2014 (2) An additional €10.0m investment has been committed 116 Funding Transactions Since the Rocket Internet IPO

56 – 153 - 236 Emerging Stars

96 – 188 - 87 (€m)

255 – 194 - 51 Funding received 6.0 3.2

170 – 77 - 200 Rocket investment N/A N/A

244 – 124 - 52 Total LPV 100.6 36.8 22 – 167 - 163 Rocket LPV impact(1) +0.1 +1.2 174 – 218 - 241 Rocket stake at IPO vs now (%) 52.3 / 49.3 49.6 / 48.6(2)

Notes: (1) Impact on Rocket Share of LPV compared to Rocket Internet IPO on 2nd October 2014 (2) Post completion of the 50/50 payment joint venture with PLDT, Rocket’s ownership and LPV is halved (ie 24.3% and EUR 8.9 million) as the ownership stake in PAYMILL was contributed (same for payleven). The agreement values both sides’ contributions equally, which means that there is no overall LPV effect 117 Funding Transactions Since the Rocket Internet IPO

56 – 153 - 236 Concepts

96 – 188 - 87 (€m)

255 – 194 - 51 Funding received 5.0 1.0 5.7

170 – 77 - 200 Rocket investment 0.5 N/A 0.8

244 – 124 - 52 Total LPV 20.0 21.0 20.7 22 – 167 - 163 Rocket LPV impact(1) 15.5 +20.0 +15.8 174 – 218 - 241 Rocket stake at IPO vs now (%) 100.0 / 77.5 100.0 / 95.2 100.0 / 75.9

Notes: (1) Impact on Rocket Share of LPV compared to Rocket Internet IPO on 2nd October 2014

118 Funding Transactions Since the Rocket Internet IPO

56 – 153 - 236 Concepts

96 – 188 - 87 (€m)

255 – 194 - 51 Funding received 1.5 5.0 14.5

170 – 77 - 200 Rocket investment N/A N/A N/A

244 – 124 - 52 Total LPV 16.5 14.6 32.5 22 – 167 - 163 Rocket LPV impact(1) +15.0 +9.6 +18.0 174 – 218 - 241 Rocket stake at IPO vs now (%) 100.0 / 90.9 100.0 / 65.9 100.0 / 55.4

Notes: (1) Impact on Rocket Share of LPV compared to Rocket Internet IPO on 2nd October 2014

119 56 – 153 - 236

96 – 188 - 87

255 – 194 - 51 170 – 77 - 200 The Leading Global 244 – 124 - 52

22 – 167 - 163 Internet Platform Outside 174 – 218 - 241 the US and China