Annual Financial Statement and Combined Management Report 5 I ^ ! 5 Ε

Annual financial statement and combined management report 5 I ^ ! 5 ϵ

1 ȃȿȷȁȢȹȎȉȷǶȹǶȚȎȷȎȹəɎȎɊȿɎə

ǶȚɎȿɟɊɊɎȿȘȢȱȎ ͨͩȁɟɒȢȹȎɒɒȷȿȉȎȱ ȃȿȷȁȢȹȎȉ ͨͪȚɎȿɟɊɒəɎɟȃəɟɎȎ ͨͫɒȎȚȷȎȹəɒ ͨͬȷǶȹǶȚȎȷȎȹəɒɱɒəȎȷ ͨͭɎȎɒȎǶɎȃȟǶȹȉȉȎɪȎȱȿɊȷȎȹə ȷǶȹǶȚȎȷȎȹə ȁȎȃȿȹȿȷȢȃɎȎɊȿɎə ͨͩȷǶɎȯȎəǶȹȉȢȹȉɟɒəɎɱȎȹɪȢɎȿȹȷȎȹə ͨͪȁɟɒȢȹȎɒɒɊȎɎȘȿɎȷǶȹȃȎ ͨͫȹȎəǶɒɒȎəɒȘȢȹǶȹȃȢǶȱɊȿɒȢəȢȿȹǶȹȉɎȎɒɟȱəɒȿȘȿɊȎɎǶəȢȿȹɒ ɎȎɊȿɎə ͨͬȎȷɊȱȿɱȎȎɒ ȃɎȢɒȯǶȹȉȿɊɊȿɎəɟȹȢəɱɎȎɊȿɎə ͨͩɎȢɒȯɊȿȱȢȃɱɊɎȢȹȃȢɊȱȎɒǶȹȉɎȢɒȯɒəɎǶəȎȚɱ ͨͪȚɎȿɟɊ̪ɫȢȉȎɎȢɒȯȷǶȹǶȚȎȷȎȹəɒɱɒəȎȷ̭̤Ɏȷɒ̥̯ ͨͫɒɱɒəȎȷȿȘȢȹəȎɎȹǶȱȘȢȹǶȹȃȢǶȱɎȎɊȿɎəȢȹȚȃȿȹəɎȿȱɒ ͨͬȢȹəȎɎȹǶȱǶɟȉȢəɒɱɒəȎȷ ͨͭɎȢɒȯɎȎɊȿɎəǶɒȿȘȉȎȃȎȷȁȎɎͫͩͪͨͩͲ ͨͮȿɊɊȿɎəɟȹȢəɱɎȎɊȿɎə

ȉȿɟəȱȿȿȯ ͨͩȷǶȃɎȿȎȃȿȹȿȷȢȃǶȹȉȢȹȉɟɒəɎɱȿɟəȱȿȿȯ ͨͪȃȿȷɊǶȹɱȎɰɊȎȃəǶəȢȿȹɒ

ȎȿəȟȎɎȉȢɒȃȱȿɒɟɎȎɒ ͨͩəǶȯȎȿɪȎɎ̪ɎȎȱǶəȎȉȢȹȘȿɎȷǶəȢȿȹɊɟɎɒɟǶȹəəȿɒȎȃəȢȿȹɒͪͱͲa ǶȹȉͫͩͭaȿȘəȟȎȚȎɎȷǶȹȃȿȷȷȎɎȃȢǶȱȃȿȉȎ̭ȟȚȁ̯ ͨͪȃȿȷɊȎȹɒǶəȢȿȹɎȎɊȿɎəɊɟɎɒɟǶȹəəȿɒȎȃəȢȿȹͩͮͪ ȿȘȚȎɎȷǶȹɒəȿȃȯȃȿɎɊȿɎǶəȢȿȹǶȃə̭ǶȯəȚ̯ ͨͫȃȿɎɊȿɎǶəȎȚȿɪȎɎȹǶȹȃȎȃȿȉȎ ͨͬȹȿȹ̪ȘȢȹǶȹȃȢǶȱɎȎɊȿɎə ͨͭəɎȎǶɒɟɎɱɒȟǶɎȎɒ

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ΞΞΝΙ ΝΟΚΝ ΡΞΙ ʕ˹˒ʕˁ˚ʕ˚ʟˇ˖ Αʗʿˎ˒ʍʙʷʍʹ˚ˎʍˊʿˎ˚ʡʹʙˊˠˎˊʿ˒ʍ˒ˎʍ˫ʍʹˠʍ˒ʗˎʿʷʿ˚ʞʍˎʿʹʈʍʷɵʹʈʡ˚ʍʷ˒ ˚ʦɽ˖ʕʈɽ˚ʕʐ ˬʞʍˎʍʈʍʱʡ˫ʍˎ˲ʞʍˎʿɵʂ˚˒ɵ˒ˊˎʡʹʂʡˊɵʱɵˎʍˊˎʍ˒ʍʹ˚ʍʈʹʍ˚ʿʗʷʍˎʂʞɵʹʈʡ˒ʍ ʊˇʿ˒ʕˁ˚ɽˢʩˇˁ –ΔΔ.Ι –ΑΗ.Β –ΒΗ.Ζ "Αΐΐ ˫ɵʱˠʍ̦ʙˎʿ˒˒ˊˎʿʗʡ˚ˊˎʍ˒ʍʹ˚ɵ˚ʡʿʹ̨ Βˎʍʂʿʹʂʡʱʡɵ˚ʡʿʹʍʗʗʍʂ˚˒ʡʹΒΐΑΙʡʹʂʱˠʈʍʙˎʿ˒˒ˎʍ˫ʍʹˠʍ̦ʀʍʗʿˎʍ˫ʿˠʂʞʍˎ ˇˢʦʕ˖ ʈʍʈˠʂ˚ʡʿʹ̨ʿʗʿˊʍˎɵ˚ʡʿʹ˒ɵʀɵʹʈʿʹʍʈʿˎ˒ʿʱʈʈˠˎʡʹʙ˚ʞʍˎʍˊʿˎ˚ʡʹʙˊʍˎʡʿʈ ˖ʕʊˇˁʊʩʹʩɽˢʩˇˁ ˚ʞɵ˚ɵˎʍʹʿ˚ʡʹ˚ʞʍ˒ʂʿˊʍʿʗʡʗˎ˒ΕʡʹΒΐΑΙ˚ʞʍ˒ʍʈʡ˫ʍ˒˚ʷʍʹ˚˒ʡʹʂʱˠʈʍʈ ˚ʕʡʿʕˁˢ˖ʕ˳ʕˁ˨ʕΦΤΥέɽʐʵ˨˚ˢʕʐ ʩˢʕʿ˚ Β.Γ –ΐ.ΒΒ .Ε "Αΐΐ ɵˠ˒˚ˎɵʱʡɵʗˎɵʹʂʍʡ˚ɵʱ˲ɵʹʈʹʍ˚ʞʍˎʱɵʹʈ˒ ʕ˨˖ʿʩʹʹʩˇˁ ɽʿˇ˖ˢʩ˿ɽˢʩˇˁɽˁʐ ʐʕ˒˖ʕʊʩɽˢʩˇˁ –ΚΗ.Β ŬΔΗΗ –ΔΚ.Ε "Αΐΐ ʟʩˁɽˁʊʩɽʹ˖ʕ˚˨ʹˢ –ΑΕ.Ε –ΑΗ.ΑΑ .Ζ –Κ.Γ 62.1 ʕɽ˖ˁʩˁʡ˚ʈʕʟˇ˖ʕ ǶȷȎɎȢȃǶɒ ʩˁʊˇʿʕˢɽ˹ʕ˚ ŭΞΞΛΜ ŭΚΝΡΡ ŭΜΘΜΞ "ΙΘΘ

192.5 115.9 ǶɒȢǶ ȎɟɎȿɊȎ

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Identification -HIRXMǍGEXMSR 1SRMXSVMRK 6MWOWEVIMHIRXMǍIHERHPMWXIHXLVSYKLHEXEVIWIEVGL %PPMHIRXMǍIHVMWOWERHXLIVIPEXIHVIWTSRWIWXVEXIKMIW MRXIVZMI[WVIZMI[SJTVSGIWWIWERHJSPPS[YTMRGMHIRXW EVIGPSWIP]ERHVIKYPEVP]QSRMXSVIH/I]6MWO-RHMGEXSVWEVI Reporting XLIQEMRXSSPWYWIHJSVQSRMXSVMRK %WWIWWQIRX Risk Assessment -HIRXMǍIHVMWOWEVIEWWIWWIHEGGSVHMRKXSXLIMVPMOIPMLSSH 6ITSVXMRK Management ERHMQTEGXW[LMGLHIXIVQMRIWXLIVMWOVEXMRK 1SRMXSVIHVMWOWEVITIVMSHMGEPP]VITSVXIHXSQEREKIQIRX Cycle 8VIEXQIRX %WWIWWIHVMWOWEVIXVIEXIHEGGSVHMRKXSSRISJXLIWIPIGXIH Monitoring VMWOVIWTSRWIWEZSMHVIHYGIQMXMKEXIXVERWJIVSVEGGITX

Treatment 6MWOWEVIEWWIWWIH[MXLVIWTIGXXSX[SHMQIRWMSRW *SVEWWIWWMRKXLITSXIRXMEPMQTEGXSJEVMWOHMǊIV IRX ---1IHMYQ1IHMYQMRXIVVYTXMSRWSJHEMP]FYWMRIWW TIVWTIGXMZIWEVIGSRWMHIVIH6MWOWGERFIIZEPYEXIHIMXLIV QIHMGEPGEVIRIIHIHMRGEWISJMRNYVMIWQIHMYQ — -QTEGXMWXLII\XIRXXS[LMGLXLIVMWOMJVIEPM^IH JVSQEUYERXMXEXMZI ǍRERGMEP TIVWTIGXMZIERHSVJ VSQ ǍRERGMEPPSWWIWHEQEKIMWPMQMXIHF]I\XIVREP [SYPHEǊIGX(IPMZIV],IVSERHMXWSFNIGXMZIW UYEPMXEXMZITIVWTIGXMZIWWYGLEWFYWMRIWWSFNIGXMZIWFVERH EWWMWXERGI — 0MOIPMLSSHMWHIǍRIHEWXLITVSFEFMPMX]SJEVMWO MQEKISTIVEXMSRWLIEPXLPIKEPERHIRZMVSRQIRX SGGYVVMRKSZIVETVIHIǍRIHTIVMSH -:,MKL8IQTSVEV]PSWWSJFYWMRIWWJYRGXMSREPMX]ERH 8LIMQTEGXWGEPIVERKIWJVSQMRWMKRMǍGERX WGSVISJSRI GETEGMX]QENSVZMSPEXMSRHEQEKIXSVITYXEXMSRFYX 8LIGSQFMREXMSRSJPMOIPMLSSHSJSGGYVVIRGIERHMQTEGX XSGVMXMGEP WGSVISJǍZI [MXLSYXPSRKXIVQERHWYFWIUYIRXIǊIGXWSVPEVKI VIWYPXWMRXLIVMWOEWWIWWQIRX ǍRERGMEPPSWWIW - -RWMKRMǍGERX8LIVMWOHSIWRSXEǊIGXXLIHEMP] -HIRXMJMIHVMWOWMRXLIVIHEVIESJXLIQEXVM\VIUY MVI TIVJSVQERGIMRWMKRMǍGERXǍRERGMEPPSWWIWRSMRNYVMIW : 'VMXMGEP1EWWMZIǍRERGMEPPSWWIWFEROVYTXGMIWHIEXL MQQIHMEXIEGXMSRJVSQQEREKIQIRX[MXLLMKLTVMSVMX]SV VITYXEXMSREPHEQEKISVHEQEKISJXLIVIPEXMSRWLMT RIIHXSFIQSRMXSVIHGPSWIP]6MWOWMRXLIEQFIVEVIEEVI -- 0S[1MRMQEPMQTEMVQIRXSJHEMP]FYWMRIWWǍVWXEMH [MXLXLIWXEOILSPHIVW GEXIKSVM^IHEWQIHMYQVMWOW[LMGLVIUYMVIQMHXIVQ JSVMRNYVMIWVIUYMVIHWMXYEXMSRMQQIHMEXIP]YRHIV EGXMSRERHSVVIKYPEVQSRMXSVMRK6MWOWMRXLIKVIIREVIE GSRXVSPPS[ǍRERGMEPPSWWIW 8LIǍRERGMEPMQTEGXMWYWYEPP]XLITVMQEV]WGEPIJS VXLI EVIRSXI\GPYHIHJVSQEGXMSRWFYXLEZIEPS[IVTVMSVMX] MQTEGXEWWIWWQIRX

ɎȢɒȯȷǶəɎȢɰǶȹȉȘȢȹǶȹȃȢǶȱȢȷɊǶȃəɒȃǶȱȎȿȘȉȎȱȢɪȎɎɱȟȎɎȿ

Likelihood

ŭ "ŭ "ŭ "ŭ "

Critical Ɩ"QMPPMSR 1IHMYQ 1IHMYQ ,MKL ,MKL ,MKL

High ƖŭQMPPMSR 1IHMYQ 1IHMYQ 1IHMYQ ,MKL ,MKL

Impact Medium ƖŭQMPPMSR 0S[ 1IHMYQ 1IHMYQ 1IHMYQ ,MKL

Low ƖŭQMPPMSR 0S[ 0S[ 1IHMYQ 1IHMYQ 1IHMYQ

-RWMKRMǍGERX Ɩ QMPPMSR 0S[ 0S[ 0S[ 1IHMYQ 1IHMYQ +VSWWZIVWYWRIXVMWO G 6MWOXVIEXQIRX -:6MWOEGGITXERGI8EOMRKRSEGXMSRGERFIJEZSVIH -REǍVWXWXIT[IIZEPYEXIEVMWO[MXLSYXGSRWMHIVMRKXLI 8LIXVIEXQIRXSJVMWOWIRGSQTEWWIWEGXMSRWSVWXVEXIKMIW GSRWMHIVMRKEGSWXFIRIǍXEREP]WMW IǊIGXSJXLIVMWOXVIEXQIRXWXVEXIK]ERHXLIVMWOQ MXMKE- XSQEREKIMHIRXMǍIHERHEWWIWWIHVMWOW3RISJXLI ǍZI XMSRQIEWYVIW XLIKVSWWVMWO -RXLIWIGSRHWXIT[IXLIR JSPPS[MRKSTXMSRWRIIHWXSFIGLSWIRF]XLIVMWOS[RIVMR : 6MWOHMZIVWMǍGEXMSRIKWTVIEHMRKVMWOXLVSYKL HIǍRIXLIVIQEMRMRKRIXVMWOXEOMRKMRXSEGGSYRXXLIVMWO EPMKRQIRX[MXLQEREKIQIRX WIVZMRKSJQYPXMTPIQEVOIXW XVIEXQIRXEW[IPPEWXLIMQTPIQIRXEXMSRSJER]VMWOQMXM- KEXMSRQIEWYVIW - 6MWOEZSMHERGI6MWOGERFIEZSMHIHF]WXSTTMRKE H 6MWOQSRMXSVMRK GIVXEMREGXMZMX]XLEXMWTSWMRKXLIVMWO 6MWOQSRMXSVMRKVIJIVWXSXLIGSRXMRYSYWJSPPS[YT SJ 8LIGLEVXFIPS[TVIWIRXWXLIHMǊIVIRGIWFIX[IIRKVS WW MHIRXMǍIHEWWIWWIHERHXVIEXIHVMWOW[MXLXLIVIWTIGXMZI ERHRIXVMWO -- 6MWOVIHYGXMSRQMXMKEXMSR6MWOGERFIVIHYGIHF] VMWOGSRXVSPPIVERHSVPSGEPVMWOERHGSQTPMERGIQEREKIV XEOMRKRIGIWWEV]QIEWYVIW [MXLXLITYVTSWISJIZEPYEXMRKXLIPEXIWXPMOIPMLSSHWERH MQTEGXWEW[IPPEWXSQSRMXSVERHVIIZEPYEXIXLIHIǍRIH --- 6MWOXVERWJIV8LIVMWOGERFIXVERWJIVVIHXSEXLMVH EGXMSRWERHXLITVSKVIWWSJMQTPIQIRXEXMSR'SRXMRYSYW TEVX]MRWYVERGISVGSRWYPXMRKGSQTER] VMWOQSRMXSVMRKMWEGSPPIGXMZIVIWTSRWMFMPMX]FIX[IIRXLI ȚPSFEPɎMWOȷEREKIVPSGEPVMWOQEREKIVWEW[IPPEW[MXL XLIVIWTIGXMZIVMWOS[RIVW'SRXMRYIHVMWOQSRMXSVMRKMW GEVVMIHSREVIKYPEVFEWMW

I 6MWOVITSVXMRK ;ILEZIIWXEFPMWLIHXLIJSPPS[MRKVITSVXMRKWXVYGXYVIJSV ȉȢȘȘȎɎȎȹȃȎɒȁȎəɫȎȎȹȚɎȿɒɒǶȹȉȹȎəɎȢɒȯ XLIOI]VMWOWMHIRXMǍIH

- 5YEVXIVP]6MWOc 'SQTPMERGI'SQQMXXII1IIXMRK -HIRXMǍIHVMWOW -- 6IKYPEVYTHEXIWXSXLI%YHMX'SQQMXXII

Inherent risk (= gross) 6MWOWXLEXI\MWX[MXLSYXGSRWMHIVEXMSRSJGSRXVSPW ICS --- 3RHIQERHYTHEXIWXSXLI7YTIVZMWSV]&SEVH SVSXLIVQEREKIQIRXEGXMZMXMIW

-:%HLSGYTHEXIWJSVGVMXMGEPVMWOWXSXLI1EREKIQIRX

Risk treatment/mitigation measures: &SEVHERHSV7YTIVZMWSV]&SEVH

6IWTSRWMFMPMXMIW 4VSGIWWIWTSPMGMIW-'7 8VEMRMRKGSQQYRMGEXMSR 1SRMXSVMRKMQTVSZIQIRX -RWYVERGI

Actual Plan

Residual risk (= net) 6MWOWXLEXI\MWX[MXL Acceptable residual risk GSRWMHIVEXMSRSJGSRXVSPW (= target) SVSXLIVQEREKIQIRXEGXMZMXMIW ʹͷɒɱɒəȎȷȿȘȢȹəȎɎȹǶȱȘȢȹǶȹȃȢǶȱ EWWIWWQIRXSJGSQTPI\MX]ERHXLIMRZSPZIQIRXSJNYHKQIRX VITSVXSRMXWEGXMZMXMIWSREUYEVXIVP]FEWMWERH XLI ɎȎɊȿɎəȢȹȚȃȿȹəɎȿȱɒ [MXLMRXLIETTPMGEXMSRSJEGGSYRXMRKTSPMGMIWXLIEGGSYRX- 7YTIVZMWSV]&SEVH[MXLEVITSVXEXPIEWXSRGIE]IEV8LIWI MRKJSVWIPIGXIHGSQTPI\VITSVXMRKXSTMGWIKFY WMRIWW VITSVXWGSRXEMRMRXIVEPMEEREGGSYRXSJXLIGYVVIRXWXEXYW (IPMZIV],IVSLEWMQTPIQIRXIHEHIXEMPIHW]WXIQSJ GSQFMREXMSRWERHWLEVIFEWIHGSQTIRWEXMSREVVERKI - SJXLIZEVMSYWEYHMXWGSRHYGXIHYRHIVXLIǐI\MFPIEYHMX MRXIVREPǍRERGMEPVITSVXMRKGSRXVSPW8LMWW]WXIQEMQWXS QIRXWMWGIRXVEPP]EHQMRMWXIVIHXSGSQTP][MXLXLI+VSYTŰW TPERWMKRMǍGERXǍRHMRKWSJGSQTPIXIHEYHMXWERHER]SYX- MHIRXMJ]IZEPYEXIERHGSRXVSPEPPVMWOWXLEXGSYP HLEZIE VITSVXMRKVIUYMVIQIRXW6MWOWEVIJYVXLIVQMXMKEXIHF]XLI WXERHMRKMWWYIWVIPEXMRKXSMQTPIQIRXEXMSRSJQEREK I- WMKRMJMGERXMQTEGXSRXLITVSTIVTVITEVEXMSRSJXLI GVSWWJYRGXMSREPI\GLERKIEQSRKGIRXVEPJYRGXMSRWMRTEV- QIRXEGXMSRTPERW GSRWSPMHEXIHǍRERGMEPWXEXIQIRXWMRGSQTPMERGI[MXLXLI XMGYPEVFIX[IIR0IKEP7XVEXIK]+VSYT%GGSYRXMRKE RH VIPIZERXEGGSYRXMRKWXERHEVHWERHETTPMGEFPIPE[W %WE +VSYT'SRXVSPPMRK-HIRXMǍIHVMWOWEVIGSRXMRYSYWP]QSR- ʹ͹ɎȢɒȯɎȎɊȿɎəǶɒȿȘȉȎȃȎȷȁȎɎͷ͵Ͷʹ͵; OI]GSQTSRIRXSJXLIEGGSYRXMRKERHVITSVXMRKTVSGIWW MXSVIHERHVIEWWIWWIH&EWIHSRXLMWEWWIWWQIRXERH MR XLIW]WXIQSJMRXIVREPǍRERGMEPVITSVXMRKGSRXVSPW GSQ- EGGSVHERGI[MXLXLIVIUYMVIQIRXWSJXLIVIWTIGXMZI-RXIV- -RΎΌ΍ΖXLI(IPMZIV],IVS+VSYTvWVMWOERHSTTSVXYRMX]TVS- TVMWIWTVIZIRXMZIQSRMXSVMRKERHMRZIWXMKEXMZIGS RXVSP REXMSREP*MRERGMEP6ITSVXMRK7XERHEVHWXLIVMWOWE VI ǍPIHMHRSXWYFWXERXMEPP]GLERKIGSQTEVIHXSXLITVSǍPI QIEWYVIWMREGGSYRXMRKERHSTIVEXMSREPJYRGXMSRW[LMGL VIǐIGXIHERHHMWGPSWIHMRXLI+VSYTŰWGSRWSPMHEXIHǍRER- EWHIWGVMFIHMRXLIVMWOERHSTTSVXYRMX]VITSVXSJ XLI IRWYVIEQIXLSHMGEPERHGSRWMWXIRXTVSGIWWJSVTVITEVMRK GMEPWXEXIQIRXW8LIW]WXIQSJMRXIVREPGSRXVSPWMWWYFNIGX ERRYEPVITSVXΎΌ΍Ε XLIǍRERGMEPWXEXIQIRXW8LIGSRXVSPW]WXIQMWFEW IHSR XSVIKYPEVVIZMI[WF]XLI+6'HITEVXQIRXERHSVVMW O XLIZEVMSYW+VSYTTVSGIWWIWXLEXLEZIEWMKRMǍGERXMQTEGX FEWIHEWWIWWQIRXWTIVJSVQIHF]MRXIVREPEYHMX -RHMZMHYEPVMWOWEVIKIRIVEPP]EWWIWWIHJSVI\MWXIRGIJSVE SRǍRERGMEPVITSVXMRK X[IPZIQSRXLTIVMSHJVSQXLIVITSVXMRKHEXI8LIOI ] ʹ͸ȢȹəȎɎȹǶȱǶɟȉȢəɒɱɒəȎȷ VMWOWMRIEGLVMWOEVIEEVIHIWGVMFIHFIPS[8LIWIVMWOWEVI 8LIWITVSGIWWIWERHXLIVIPIZERXVMWOJSVXLIǍRERG MEP ETTPMGEFPIXSEPPSYVWIKQIRXW YRPIWWI\TPMGMXVIJIVIRGIXS VITSVXMRKEVIEREP]ÎHERHHSGYQIRXIH%GSRXVSPQEXVM\ -RHITIRHIRGIMWXLIGSVRIVWXSRISJ(IPMZIV],IVSŰWMRXIVREP MRHMZMHYEPWIKQIRXWMWQEHI ERHFEWIHSRXLIKVSWWVMWO GSRXEMRWEPPGSRXVSPWMRGPYHMRKEHIWGVMTXMSRSJX LIGSR- EYHMXJYRGXMSR-RXIVREP%YHMXTVSZMHIWMRHITIRHIRXERH EWWIWWQIRX8LIEGXMSRWXEOIREWHIWGVMFIHFIPS[E VIcŭ XVSPX]TISJGSRXVSPERHXLIJVIUYIRG][MXL[LMGLMXMWGEV- SFNIGXMZIEWWYVERGIXSXLI1EREKIQIRX&SEVH%YHMX YRPIWWSXLIV[MWIWXEXIHŭGSRWMHIVIHEHIUYEXIXSQMXMKEXI VMIHSYX;ILEZIMQTPIQIRXIHWXERHEVHMÎHQSRXLP] 'SQQMXXIIERH7YTIVZMWSV]&SEVHVIKEVHMRKXLIEHIUYEG] XLIVIWTIGXMZIVMWOW VITSVXMRKERHVIZMI[TVSGIHYVIWJSVWYFWMHMEV]ǍRERGMEP ERHIJJIGXMZIRIWWSJXLI+VSYTŰ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ǍRER GMEP 8LIMRHYWXV]GSRXMRYIWXSFILMKLP]GSQTIXMXMZI-RZEVMSYW WXEXIQIRXWXSXLI+VSYTŰWǍRERGIXIEQW8LIMHIRXMǍ GE- -RXIVREP%YHMXWIVZIWXSTVSQSXIVIWTSRWMFPIGSVTSV EXI GSYRXVMIW(IPMZIV],IVSMWWYFNIGXXSTVIWWYVIJVSQSXLIV XMSRSJVMWOWJSVXLIGSRWSPMHEXIHǍRERGMEPWXEXIQIRXWJYV- KSZIVRERGIMREGGSVHERGI[MXLXLIWXERHEVHWERHGSHISJ 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ΑʡʹΒΐΑΙʷʍʷʀʍˎ˒ʿʗ˚ʞʍʍ˱ʍʂˠ˚ʡ˫ʍʀʿɵˎʈˬʍˎʍʙˎɵʹ˚ʍʈ˒˚ʿʂʯʿˊ˚ʡʿʹ˒ˬʿˎ˚ʞ̿cΑ,Εΐΐcʯʗʿˎ˚ʞʍʹʍ˱˚ʗʿˠˎ˲ʍɵˎ˒ ̦ʿʗˬʞʡʂʞ̿cΑ,ΐΐΐcʯʍɵʂʞ˲ʍɵˎʡ˒˚ʿʹʡʯʱɵ˒ˆ˒˚ʀʍˎʙɵʹʈ̿cΕΐΐcʯʍɵʂʞ˲ʍɵˎʡ˒˚ʿʍʷʷɵʹˠʍʱ˚ʞʿʷɵ˒˒ʡʹ̨ Βʹˠʷʀʍˎʿʗʿˊ˚ʡʿʹ˒ʙˎɵʹ˚ʍʈ˒ˠʀʭʍʂ˚˚ʿ˚ʞʍɵʂʞʡʍ˫ʍʷʍʹ˚ʿʗ˚ʞʍˊʍˎʗʿˎʷɵʹʂʍ˚ɵˎʙʍ˚ʡʹʗʿˎʷɵ˚ʡʿʹˎʍʱɵ˚ʍ˒˚ʿ˚ʞʍʂʿʷʷʡ˚ʷʍʹ˚ʗʿˎΒΐΑΙ ̦̿cΑ,ΐΐΐcʯʹʡʯʱɵ˒ˆ˒˚ʀʍˎʙɵʹʈ̿cΕΐΐcʯʍʷʷɵʹˠʍʱ˚ʞʿʷɵ˒˒ʡʹ̨˚ʞʍʹˠʷʀʍˎʿʗʗˠ˚ˠˎʍʿˊ˚ʡʿʹ˒ʂɵʹʿʹʱ˲ʀʍʷɵʈʍʈˠˎʡʹʙ˚ʞʍˎʍ˒ˊʍʂ˚ʡ˫ʍɵʱʱʿʂɵ˚ʡʿʹ˲ʍɵˎ˒ ɵ˒˚ʞʍ˒ʍɵˎʍʈʍˊʍʹʈʍʹ˚ʿʹʗˠ˚ˠˎʍ˒ʞɵˎʍˊˎʡʂʍ˒ Γʗɵʡˎ˫ɵʱˠʍɵ˚˚ʞʍʙˎɵʹ˚ʈɵ˚ʍ̦ʈɵ˚ʍʿʗ˚ʞʍʱʍʙɵʱʱ˲ʀʡʹʈʡʹʙʂʿʷʷʡ˚ʷʍʹ˚̨ʡʹʗʿˎʷɵ˚ʡʿʹʿʹ˚ʞʍ˫ɵʱˠɵ˚ʡʿʹʷʿʈʍʱʂɵʹʀʍʗʿˠʹʈʡʹ˚ʞʍʹʿ˚ʍ˒˚ʿ˚ʞʍ ʂʿʹ˒ʿʱʡʈɵ˚ʍʈʗʡʹɵʹʂʡɵʱ˒˚ɵ˚ʍʷʍʹ˚˒ 8LII\TIRWIJVSQWLEVIFEWIHGSQTIRWEXMSRVIGSKRM^IH ˚ˢˇʊʷˇ˒ˢʩˇˁ˚˚ˇ˒ΦΤΥέ MRΎΌ΍ΖEQSYRXIHXS͆Α΍QMPPMSR TVIZMSYW]IEV ˁʩʷʹɽ˚ˎ˚ˢʈʕ˖ʡ ʕʿʿɽˁ˨ʕʹˢʦˇʿɽ˚˚ʩˁ ͆c΍ΎQMPPMSR JSV1VWXFIVKERH͆ΎΐQMPPMSR T VIZMSYW ˴ʕʩʡʦˢʕʐɽ˳ʕ˖ɽʡʕ ˁ˨ʿʈʕ˖ˇʟ ˴ʕʩʡʦˢʕʐɽ˳ʕ˖ɽʡʕ ˁ˨ʿʈʕ˖ˇʟ ]IEV͆ΌΒQMPPMSR JSV1V8LSQEWWMR ʕ˹ʕ˖ʊʩ˚ʕ˒˖ʩʊʕʩˁʕ˨˖ ˇ˒ˢʩˇˁ˚ ʕ˹ʕ˖ʊʩ˚ʕ˒˖ʩʊʕʩˁʕ˨˖ ˇ˒ˢʩˇˁ˚ ˇ˨ˢ˚ˢɽˁʐʩˁʡ˚ˢˇʊʷˇ˒ˢʩˇˁ˚ -RΎΌ΍ΖEXSXEPSJΎΎ΍ΒΒΖRI[WXSGOSTXMSRWMRXLIEQSYRX ɽ˚ˇʟʵɽˁΙΚΘΙΡ ΝΟΙ ΡΜΞΞΘΘ ΙΙΞΟ Λ΢ΘΘΘΘ SJ͆ΎΎQMPPMSR[IVIKVERXIHYRHIVXLI08-4XS1VWXFIVK ʡ˖ɽˁˢʕʐʩˁˢʦʕ˖ʕ˒ˇ˖ˢʩˁʡ˒ʕ˖ʩˇʐ ʹ̲ɵ – ʹ̲ɵ – 1V8LSQEWWMR[EWKVERXIHEXSXEPSJ΍΍ΌΕΏΏRI[WX SGO ʟˇ˖ʟʕʩˢʕʐʩˁˢʦʕ˖ʕ˒ˇ˖ˢʩˁʡ˒ʕ˖ʩˇʐ ʹ̲ɵ – ʹ̲ɵ – STXMSRWMRXLIEQSYRXSJ͆΍΍QMPPMSRMRΎΌ΍Ζ8LISTXMSR ʕ˹ʕ˖ʊʩ˚ʕʐʩˁˢʦʕ˖ʕ˒ˇ˖ˢʩˁʡ˒ʕ˖ʩˇʐ ʹ̲ɵ – ʹ̲ɵ – VMKLXWGERFII\IVGMWIHMRǍRERGMEP]IEVΎΌΎΏEXXL IIEV ʕ˹˒ʩ˖ʕʐʩˁˢʦʕ˖ʕ˒ˇ˖ˢʩˁʡ˒ʕ˖ʩˇʐ ʹ̲ɵ – ʹ̲ɵ – PMIWX-RXLITVIZMSYW]IEVEXSXEPSJ΍ΌΏ΍ΑΒRI[ WXSGO ˇ˨ˢ˚ˢɽˁʐʩˁʡ˚ˢˇʊʷˇ˒ˢʩˇˁ˚ STXMSRWMRXLIEQSYRXSJ͆΍ΌQMPPMSR[IVIKVERXIHYRHIV ɽ˚ˇʟʵɽˁΙΚΘΙ΢ ΝΟΙ ΡΜΞΞΘΘ ΙΙΞΟ Λ΢ΘΘΘΘ XLI08-4XS1VWXFIVK1V8LSQEWWMR[EWKVERXIHEXSXEP ʡ˖ɽˁˢʕʐʩˁˢʦʕ˖ʕ˒ˇ˖ˢʩˁʡ˒ʕ˖ʩˇʐ ʹ̲ɵ – ʹ̲ɵ – SJΑ΍ΑΓΕRI[WXSGOSTXMSRWMRXLIEQSYRXSJ͆ΌΑQMPPMSR MRΎΌ΍Ε8LISTXMSRVMKLXWKVERXIHXSXLI1EREKIQIR X ʟˇ˖ʟʕʩˢʕʐʩˁˢʦʕ˖ʕ˒ˇ˖ˢʩˁʡ˒ʕ˖ʩˇʐ ʹ̲ɵ – ʹ̲ɵ – &SEVHQIQFIVWERHSYXWXERHMRKEVIWLS[RFIPS[ ʕ˹ʕ˖ʊʩ˚ʕʐʩˁˢʦʕ˖ʕ˒ˇ˖ˢʩˁʡ˒ʕ˖ʩˇʐ ʹ̲ɵ – Ε.ΐΐ Δΐ,ΐΐΐ ʕ˹˒ʩ˖ʕʐʩˁˢʦʕ˖ʕ˒ˇ˖ˢʩˁʡ˒ʕ˖ʩˇʐ ʹ̲ɵ – ʹ̲ɵ – ˇ˨ˢ˚ˢɽˁʐʩˁʡ˚ˢˇʊʷˇ˒ˢʩˇˁ˚ ɽ˚ˇʟʐʕʊΛΙΚΘΙ΢ ΝΟΙΡΜΞ ΞΘΘ ΙΚΜΛ ΛΝΘΘΘΘ ʕ˹ʕ˖ʊʩ˚ɽʈʹʕˇˁʐʕʊΛΙ ΚΘΙ΢ ʹ̲ɵ – ʹ̲ɵ – ˚ˢˇʊʷˇ˒ˢʩˇˁ˚ʹˢʩ˒ 4E]QIRXWEXXLIIRHSJ1EREKIQIRX&SEVHWIVZMGI ˁʩʷʹɽ˚ˎ˚ˢʈʕ˖ʡ ʕʿʿɽˁ˨ʕʹˢʦˇʿɽ˚˚ʩˁ -RXLIIZIRXSJIEVP]XIVQMREXMSRSJ1EREKIQIRX&SE VH ˴ʕʩʡʦˢʕʐɽ˳ʕ˖ɽʡʕ ˁ˨ʿʈʕ˖ˇʟ ˴ʕʩʡʦˢʕʐɽ˳ʕ˖ɽʡʕ ˁ˨ʿʈʕ˖ˇʟ WIVZMGIWFIJSVIXLIETTPMGEFPITIVJSVQERGITIVMSHS JE ʕ˹ʕ˖ʊʩ˚ʕ˒˖ʩʊʕ ˇ˒ˢʩˇˁ˚ ʕ˹ʕ˖ʊʩ˚ʕ˒˖ʩʊʕ ˇ˒ˢʩˇˁ˚ GYVVIRX734XVERGLIIRHWXLI734WI\TMVI[MXLSYXWYFWXM- ʩˁʕ˨˖ ʩˁʕ˨˖ XYXISVGSQTIRWEXMSRMRXLIJSPPS[MRKGEWIW ˇ˨ˢ˚ˢɽˁʐʩˁʡ˚ˢˇʊʷˇ˒ˢʩˇˁ˚ ɽ˚ˇʟʵɽˁΙΚΘΙΡ ʹ̲ɵ – ʹ̲ɵ – — 6IZSGEXMSRSJXLIETTSMRXQIRXJSVKSSHGEYWI ʡ˖ɽˁˢʕʐʩˁˢʦʕ˖ʕ˒ˇ˖ˢʩˁʡ˒ʕ˖ʩˇʐ ΓΙ.Γΐ ΑΐΓ,ΑΕΖ ΓΙ.Γΐ ΕΑ,ΕΗΙ — 6IZSGEXMSRSJXLIETTSMRXQIRX[MXLSYXKSSHGEYWI ʟˇ˖ʟʕʩˢʕʐʩˁˢʦʕ˖ʕ˒ˇ˖ˢʩˁʡ˒ʕ˖ʩˇʐ ʹ̲ɵ – ʹ̲ɵ – MRXLIǍVWX]IEVSJXLIǍVWXGSRXVEGXYEPJSYV]IEV ʕ˹ʕ˖ʊʩ˚ʕʐʩˁˢʦʕ˖ʕ˒ˇ˖ˢʩˁʡ˒ʕ˖ʩˇʐ ʹ̲ɵ – ʹ̲ɵ – GSQQMXQIRX ʕ˹˒ʩ˖ʕʐʩˁˢʦʕ˖ʕ˒ˇ˖ˢʩˁʡ˒ʕ˖ʩˇʐ ʹ̲ɵ – ʹ̲ɵ – — 8LI1EREKIQIRX&SEVHQIQFIVŰWVIWMKREXMSR JVSQSǓGIMRXLIǍVWXX[S]IEVWSJER]GSRXVEGXYEP ˇ˨ˢ˚ˢɽˁʐʩˁʡ˚ˢˇʊʷˇ˒ˢʩˇˁ˚ GSQQMXQIRX ɽ˚ˇʟʵɽˁΙΚΘΙ΢ ΛΡΛΘ ΙΘΛΙΝΞ ΛΡΛΘ ΝΙΝΟΡ ʡ˖ɽˁˢʕʐʩˁˢʦʕ˖ʕ˒ˇ˖ˢʩˁʡ˒ʕ˖ʩˇʐ ΓΖ.ΙΚ ΒΒΑ,ΖΖΚ ΓΖ.ΙΚ ΑΑΐ,ΙΓΓ 3XLIV[MWIXLI1EREKIQIRX&SEVHQIQFIVWEVIIRXMXPIH ʟˇ˖ʟʕʩˢʕʐʩˁˢʦʕ˖ʕ˒ˇ˖ˢʩˁʡ˒ʕ˖ʩˇʐ ʹ̲ɵ – ʹ̲ɵ – XSXLIEPVIEH]RSRJSVJIMXEFPI734EXXLIRSVQEPIR HSJ ʕ˹ʕ˖ʊʩ˚ʕʐʩˁˢʦʕ˖ʕ˒ˇ˖ˢʩˁʡ˒ʕ˖ʩˇʐ ʹ̲ɵ – ʹ̲ɵ – XLIFPSGOMRKTIVMSH ʕ˹˒ʩ˖ʕʐʩˁˢʦʕ˖ʕ˒ˇ˖ˢʩˁʡ˒ʕ˖ʩˇʐ ʹ̲ɵ – ʹ̲ɵ – ˇ˨ˢ˚ˢɽˁʐʩˁʡ˚ˢˇʊʷˇ˒ˢʩˇˁ˚ ȃȿȷɊȎȹɒǶəȢȿȹȿȘȷȎȷȁȎɎɒȿȘəȟȎ ɽ˚ˇʟʐʕʊΛΙΚΘΙ΢ ΛΟΛΜ ΛΚΜΡΚΝ ΛΟΛΜ ΙΞΚΜΙΙ ɒɟɊȎɎɪȢɒȿɎɱȁȿǶɎȉȿȘȉȎȱȢɪȎɎɱȟȎɎȿɒȎ ʕ˹ʕ˖ʊʩ˚ɽʈʹʕˇˁʐʕʊΛΙ ΚΘΙ΢ ʹ̲ɵ – ʹ̲ɵ – 8LIGSQTIRWEXMSRVIGIMZIHF]XLIQIQFIVWSJXLI7YTIV- ZMWSV]&SEVHMWWTIGMǍIHMRj΍ΑSJXLI%VXMGPIWSJ%WWSGMEXMSR SJ(IPMZIV],IVS7)8LIQIQFIVWSJXLI7YTIVZMWSV]&SEVH ȘȿɎȷȎɎȷǶȹǶȚȎȷȎȹəȁȿǶɎȉȷȎȷȁȎɎɒ̣ VIGIMZIMXWYRVIHYGIHVIQYRIVEXMSRJSVWM\QSRXLWFYXRS VIGIMZIEǍ\IHERRYEPWEPEV]SJ͆c΍ΑΌΌΌ8LIGLEMV QERSJ ȃȿȷɊȎȹɒǶəȢȿȹ PSRKIVXLERXLIXIVQSJMXWIQTPS]QIRX1V8LSQEWWMRMW XLI7YTIVZMWSV]&SEVHVIGIMZIWERERRYEPǍ\IHWEPEV]MRXLI %WSJXLIFEPERGIWLIIXHEXI(IPMZIV],IVS7)LEWRSTIR- IRXMXPIHXSVIGIMZIJSVERSXLIVWM\QSRXLWFYXRS PSRKIV EQSYRXSJ͆c΍ΑΌΌΌΌ TVIZMSYW]IEV͆cΓΑΌΌΌ [LMP IXLI WMSRVIGMTMIRXWSVSXLIVFIRIǍGMEVMIWEQSRKMXWJSV QIV XLERXLIXIVQSJLMWIQTPS]QIRXETE]QIRXSJΕΌ SJLMW HITYX]GLEMVQERVIGIMZIWEǍ\IHWEPEV]MRXLIEQSYR XSJ )\IGYXMZI&SEVHQIQFIVWSV1EREKIQIRX&SEVHQIQ - 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8LIMRHMZMHYEPZEPYIWJSVXLIǍRERGMEP]IEVEVIWLS[RMRXLI JSPPS[MRKXEFPI

ʟʩ˹ʕʐ˚ɽʹɽ˖˺ ʊˇʿʿʩˢˢʕʕʊˇʿ˒ʕˁ˚ɽˢʩˇˁ ˢˇˢɽʹʊˇʿ˒ʕˁ˚ɽˢʩˇˁ )96 ΚΘΙ΢ ΚΘΙΡ ΚΘΙ΢ ΚΘΙΡ ΚΘΙ΢ ΚΘΙΡ

ʐ˖ʿɽ˖ˢʩˁʕˁʐʕ˖ʹʕ ΑΕΐ,ΐΐΐ ΗΕ,ΐΐΐ ΑΔ,ΐΐΐ Κ,ΐΕΙ ΑΖΔ,ΐΐΐ ΙΔ,ΐΕΙ ˒ɽˢ˖ʩʊʷʷˇʹʕʷ Βΐ,ΐΐΐ Κ,ΐΒΗ ΒΑ,ΐΐΐ ΑΕ,ΐΚΐ ΔΑ,ΐΐΐ ΒΔ,ΑΑΙ ʦʩʹɽ˖˺ʡˇ˚ʦʕ˖̮ʟ˖ˇʿΙΛΘΟΚΘΙΡ̰ ΑΕ,ΐΐΐ Η,ΐΖΙ Η,ΐΐΐ Α,ΖΗΗ ΒΒ,ΐΐΐ Ι,ΗΔΕ ˳ʕ˖ɽ˚ˢɽʊʦˇ˴ʩɽʷ̮ʟ˖ˇʿΙΛΘΟΚΘΙΡ̰ ΑΕ,ΐΐΐ Η,ΐΖΙ Β,ΐΐΐ ΙΓΙ ΑΗ,ΐΐΐ Η,ΚΐΗ ʈʵˎ˖ˁʹʵ˨ˁʡʈʕ˖ʡ̮ʟ˖ˇʿΙΛΘΟΚΘΙΡ̰ ΑΕ,ΐΐΐ Η,ΐΖΙ Β,ΐΐΐ ΙΓΙ ΑΗ,ΐΐΐ Η,ΚΐΗ ʊʦ˖ʩ˚ˢʩɽˁʡ˖ɽʟ˳ˇˁʦɽ˖ʐʕˁʈʕ˖ʡ̮ʟ˖ˇʿΘΙΘΜΚΘΙ΢̰ ΑΑ,ΓΐΑ – – – ΑΑ,ΓΐΑ – ˚ʕʿʩʦ˺ɽʹʊʩˁ̮ʟ˖ˇʿΙΛΘΟΚΘΙΡ˨ˁˢʩʹΘΙΘΜΚΘΙ΢̰ Γ,ΗΔΐ – – Η,ΐΖΙ Γ,ΗΔΐ Η,ΐΖΙ ʡʕˇ˖ʡʡ˖ɽʟ˳ˇˁ˴ɽʹʐʕ˖˚ʕʕ̮˨ˁˢʩʹΙΛΘΟΚΘΙΡ̰ – – – ΑΕ,ΚΔΕ – ΑΕ,ΚΔΕ ʵʕʟʟʹʩʕʈʕ˖ʿɽˁˁ̮˨ˁˢʩʹΙΛΘΟΚΘΙΡ̰ – Αΐ,ΖΓΐ – Β,ΑΒΖ – ΑΒ,ΗΕΖ ʵˇˁɽˢʦɽˁʡ˖ʕʕˁ̮˨ˁˢʩʹΙΛΘΟΚΘΙΡ̰ – Η,ΚΗΓ – – – Η,ΚΗΓ ʵɽˁʩ˚˿ʕʊʦ̮ʟ˖ˇʿΘΞΘΞΚΘΙΡ˨ˁˢʩʹΙΛΘΟΚΘΙΡ̰ – Α,ΕΖΒ – – – Α,ΕΖΒ ˢˇˢɽʹ ΚΛΘΘΜΙ ΙΚΝΛ΢Ο ΜΞΘΘΘ ΝΚΞΜΙ ΚΟΞΘΜΙ ΙΟΡΘΛΡ

-RΎΌ΍ΖEXSXEPSJ͆ΒΑΎΑ TVIZMSYW]IEVc͆ΎΕΌΑΏ LEWFIIR &IVPMR%TVMPΎΎΎΌΎΌ VIMQFYVWIHJSVI\TIRWIW

-RΎΌ΍ΖEXSXEPSJΓΏΕ΍RI[WXSGOSTXMSRWMRXLIEQSYRXSJ ͆ΓΑΌΌΌ[IVIKVERXIHYRHIVXLI08-4XS'LVMWXMER+VEJZSR ,EVHIRFIVKQIQFIVSJXLI7YTIVZMWSV]&SEVH-REHHMXMSR EXSXEPSJΒΒΏWLEVIWMRXLIJSVQSJ679WMRXLIEQSYRXSJ 2MOPEWWXFIVK )QQERYIP8LSQEWWMR ͆ΎΑΌΌΌ[IVIKVERXIH 'LMIJ)\IGYXMZI3ǓGIV 'LMIJ*MRERGMEP3ǓGIV Delivery Hero SE, Berlin Balance sheet as of December 31, 2019 A s s e t s 31.12.2019 31.12.2018 EUR EUR EUR EUR A. Fixed assets

I. Intangible assets

1. Internally generated intangible assets 4.210.624,54 1.491.439,92 2. Purchased trademarks and software 11.453.356,33 12.942.771,61 3. Advance payments and Investments in development 2.383.836,40 18.047.817,27 715.548,05 15.149.759,58

II. Property, plant and equipment

1. Plant and machinery 315.875,73 221.554,76 2. Office and other operating equipment 6.290.456,90 5.587.415,53 3. Advance payments and assets under construction 1.323.216,96 7.929.549,59 210.737,28 6.019.707,57

III. Financial assets 1. Shares in affiliated companies 1.479.002.121,16 1.686.319.991,85 2. Loans to affiliated companies 766.856.064,01 500.379.379,32 3. Investments 225.674.437,76 205.937.859,83 4. Securities held as fixed assets. 464.275.334,11 7.309.142,96 5. Shares in other investments 43.661.696,00 2.979.469.653,04 276.663,44 2.400.223.037,40 3.005.447.019,90 2.421.392.504,55

B. Current assets

I. Inventories 1. Unfinished goods and unfinished service 955.500,00 1.892.106,23 2. Finished goods and merchandise 1.627.670,65 1.882.596,26 3. Advance payments 2.174.514,78 4.757.685,43 1.470.467,55 5.245.170,04

II. Receivables and other assets

1. Trade receivables 4.658.315,93 859.965,68 2. Receivables from affiliated companies 102.202.971,07 77.029.358,85 3. Other assets 57.374.973,61 164.236.260,61 28.276.374,95 106.165.699,48

III. Cash on hands and bank balances 252.069.430,24 111.379.269,19 421.063.376,28 222.790.138,71

C. Deferred expenses 10.253.281,16 4.414.052,24

3.436.763.677,34 2.648.596.695,50 Shareholder's e q u i t y a n d l i a b i l i t i e s 31.12.2019 31.12.2018 EUR EUR EUR EUR A. Shareholder's Equity

I. Issued capital

1. Subscribed capital 188.775.039,00 185.930.494,00 2. Own shares (nominal value) -78.230,02 188.696.808,98 -78.230,02 185.852.263,98

II. Capital reserve 2.785.105.143,10 2.723.479.566,21

III. Loss carryforward -346.045.872,26 -339.030.839,23

IV. Net profit/loss for the year 446.490.782,70 -7.015.033,03 3.074.246.862,52 2.563.285.957,93

B. Provisions 1. Tax provisions 8.285.712,91 3.173.288,91 2. Other provisions 131.228.928,83 18.783.997,49 139.514.641,74 21.957.286,40

C. Liabilities

1. Liabilities to banks 208.000.000,00 0,00 1. Trade payables 437.682,47 466.391,74 2. Liabilities to affiliated companies 2.683.112,27 54.172.932,19 3. Other liabilities 10.862.123,71 7.574.675,83 – thereof for taxes EUR 1.646.674,80 (PY: EUR 1.143.492,44 ) – – thereof for social security EUR 268.136,95 (PY: EUR 172.108,27 ) – 221.982.918,45 62.213.999,76

D. Deferred income 1.019.254,63 1.139.451,41

3.436.763.677,34 2.648.596.695,50 Delivery Hero SE, Berlin Income statement for the period from January 1 to December 31, 2019 2019 2018 EUR EUR EUR EUR 1. Revenue 91.531.469,33 55.640.501,92 2. Increase or decrease in finished and unfinished goods and services -598.606,23 3. Other own work capitalized 3.821.302,44 1.517.269,70 4. Other operating income 874.572.018,86 281.916.986,08 5. Cost of materials a) Cost of raw materials, supplies and purchased goods -7.758.293,42 -5.895.149,14 6. Personnel expenses a) Wages and salaries -120.897.475,64 -70.388.669,88 b) Social security and other benefits -11.808.544,46 -132.706.020,10 -8.603.531,98 -78.992.201,86 œ thereof for pensions: EUR -110.318,21 (PY: EUR -46.559,74) Þ 7. Amortization of a) intangible assets and depreciation of property, plant and equipment -7.309.169,02 -5.088.513,51 b) Write-downs on current assets exceeding ordinary write-downs usual for the Company -829.539,38 -8.138.708,40 -18.585.166,90 -23.673.680,41 8. Other operating expenses -307.452.649,06 -168.696.061,27 9. Income from investments 57.198.361,90 3.317.813,55 œ thereof from affiliated companies: EUR 57.198.361,90 (PY: EUR 3.317.813,55) œ 10. Income from the lending of financial assets 44.199.694,47 19.845.975,08 œ thereof from affiliated companies: EUR 44.199.694,47 (PY: EUR 19.845.975,08) œ 11. Interest and similar income 843.045,41 872.778,16 12. Write-downs of financial assets -149.207.609,32 -87.047.053,21 13. Interest and similar expenses -6.616.718,75 -3.817.135,38 œ thereof to affiliated companies: EUR -2.647.442,31 (PY: EUR -2.864.189,24) œ 14. Income taxes -13.118.621,88 -1.551.307,02 œ thereof for deferred taxes: EUR -105.837,40 (PY: EUR -971.632,73) œ 15. Earnings after taxes 446.568.665,25 -6.561.263,80 16. Other taxes -77.882,55 -453.769,23 17. Net profit/loss for the year 446.490.782,70 -7.015.033,03 4IPMZIV](8IVS(@5"(2IVPMR( (

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ALIVI(EVI(MRXIVIWXW(MR(4IPMZIV](8IVS(@5(XLEX(LEZI(FIIR(VITSVXIH(MR(EGGSVHERGI([MXL( CT87(_())(SV(CT87(_(). '!(

Notifying Entity Date Reached, Notification Notification Interest in Interest in Exceeded, or Threshold Requirements under % Voting Rights Fell Under WpHG § 333/WpHG § 38(1) No. (1)4/WpHG § 38(1) No. (2)5 or Attributions Under WpHG § 346

Citi Group Inc, June 28, 2017 5% WpHG § 34 5.51% 9,475,000 Wilmington, Over Delaware, United States7

Naspers Limited, June 28, 2017 10% WpHG § 34 10.65% 18,310,002 Cape Town, South Over Africa8

Citi Group Inc, June 29, 2017 3% WpHG § 34 0.00% 0 Wilmington,

"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""

% formerly WpHG § 21 (until December 31, 2017) & formerly WpHG § 25(1)(1) (until December 31, 2017) ' formerly WpHG § 25(1)(2) (until December 31, 2017) ( formerly WpHG § 22 (until December 31, 2017) ) cf. publication by Delivery Hero SE from July 4, 2017 * cf. publication by Delivery Hero SE from July 6, 2017

#)" Delaware, United Under States9

Lukasz Gadowski10 June 28, 2017 5% WpHG §§ 34, 38(1) No. 6.47% 11,119,800 (1) Over

Goldman Sachs June 28, 2017 5% WpHG § 34 5.51% 9,475,000 Group, Inc., Over Wilmington, Delaware, United States11

Jeff Horning12 June 28, 2017 5% WpHG § 34 7.51% 12,912,900

Over

Christian Leone13 June 28, 2017 5% WpHG § 34 8.92% 15,340,500

Over

Luxor Capital June 28, 2017 5% WpHG § 34 7.15% 12,292,200 Partners Offshore, Over Ltd., George Town, Cayman Islands14

Rocket Internet SE, June 28, 2017 30% WpHG §§ 34, 38(1) No. 31.76% 54,633,219 Berlin, Germany15 (1) Over

Rocket Internet SE, July 4, 2017 30% WpHG §§ 34, 38(1) No. 28.64% 49,266,522 Berlin, Germany16 (1) Under

Goldman Sachs July 4, 2017 3% WpHG §§ 34, 38(1) No. 1.74% 2,993,889 Group, Inc, (1), 38(1) No. (2) Under Wilmington, Delaware, United States17

""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""" + cf. publication by Delivery Hero SE from July 6, 2017 #" cf. publication by Delivery Hero SE from July 6, 2017 ## cf. publication by Delivery Hero SE from July 6, 2017 #$ cf. publication by Delivery Hero SE from July 6, 2017 and correction by Delivery Hero SE from July 7, 2017 #% cf. publication by Delivery Hero SE from July 6, 2017 and correction by Delivery Hero SE from July 7, 2017 #& cf. publication by Delivery Hero SE from July 6, 2017 #' cf. publication by Delivery Hero SE from July 7, 2017 #( cf. publication by Delivery Hero SE from July 11, 2017 #) cf. publication by Delivery Hero SE from July 12, 2017

#*" Naspers Limited, September 28, 20% WpHG §§ 34, 38(1) No. 23.65% 40,669,859 Cape Town, South 2017 (2) Over Africa18

Rocket Internet SE, December 6, 25% WpHG §§ 34, 38(1) No. 24,35% 44,432,114 Berlin, Germany19 2017 (1) Under

Lukasz Gadowski20 December 6, 5% WpHG §§ 34, 38(1) No. 4.95% 9,035,003 2017 (1) Under

Christian Leone21 January 5, 2018 5% WpHG § 34 4.76% 8,691,075

Under

Luxor Capital January 5, 2018 3% WpHG § 34 3.30% 6,020,786 Partners Offshore, Over Ltd., George Town, Cayman Islands22

Christian Leone23 March 2, 2018 5% WpHG § 34 5.003% 9,130,879

Over

Naspers Limited, March 22, 2018 20% WpHG §§ 34, 38(1) No. 22.75% 41,849,859 Cape Town, South (2) Over Africa24

Naspers Limited, March 26, 2018 20% WpHG §§ 34, 38(1) No. 22.75% 41,849,859 Cape Town, South (2) Over Africa25

Naspers Limited, March 28, 2018 20% WpHG §§ 34, 38(1) No. 22.75% 41,849,859 Cape Town, South (2) Over Africa26

Rocket Internet SE, March 28, 2018 10% WpHG §§ 34, 38(1) No. 8.39% 15,439,412 Berlin, Germany27 (1)

""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""" #* cf. publication by Delivery Hero SE from October 2, 2017 #+ cf. publication by Delivery Hero SE from December 13, 2017 $" cf. publication by Delivery Hero SE from December 15, 2017" $# cf. publication by Delivery Hero SE from January 15, 2018 $$ cf. publication by Delivery Hero SE from January 15, 2018 $% cf. publication by Delivery Hero SE from March 12, 2018 $& cf. publication by Delivery Hero SE from March 27, 2018 $' cf. publication by Delivery Hero SE from March 29, 2018 $( cf. publication by Delivery Hero SE from March 29, 2018 $) cf. publication by Delivery Hero SE from April 5, 2018

#+" Under

Lukasz Gadowski28 April 27, 2018 3% WpHG § 34 2.55% 4,684,634

Under

Vanguard World May 3, 2018 3% WpHG § 33 3.07% 5,651,813 Funds, Over Wilmington, Delaware, United States29

BlackRock, Inc., June 15, 2018 3% WpHG §§ 34, 38(1) No. 3.39% 6,251,043 Wilmington, (1), 38(1) No. (2) Over Delaware, United States30

BlackRock, Inc., June 19, 2018 3% WpHG §§ 34, 38(1) No. 3.33% 6,139,565 Wilmington, (1), 38(1) No. (2) Over Delaware, United States31

BlackRock, Inc., June 20, 2018 3% WpHG §§ 34, 38(1) No. 3.34% 6,157,882 Wilmington, (1), 38(1) No. (2) Over Delaware, United States32

Baillie Gifford & June 25, 2018 3% WpHG § 34 3.21% 5,915,414 Co., Edinburgh, Over Scotland, United Kingdom33

BlackRock, Inc., July 3, 2018 3% WpHG §§ 34, 38(1) No. 3.30% 6,080,206 Wilmington, (1), 38(1) No. (2) Over Delaware, United States34

BlackRock, Inc., July 4, 2018 3% WpHG §§ 34, 38(1) No. 3.26% 6,015,245 Wilmington, (1), 38(1) No. (2) Over

""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""" $* cf. publication by Delivery Hero SE from May 7, 2018 $+ cf. publication by Delivery Hero SE from May 11, 2018 %" cf. publication by Delivery Hero SE from June 22, 2018 %# cf. publication by Delivery Hero SE from June 22, 2018 %$ cf. publication by Delivery Hero SE from June 25, 2018 %% cf. publication by Delivery Hero SE from June 29, 2018 %& cf. publication by Delivery Hero SE from July 10, 2018

$"" Delaware, United States35

BlackRock, Inc., July 5, 2018 3% WpHG §§ 34, 38(1) No. 3.37% 6,208,458 Wilmington, (1), 38(1) No. (2) Over Delaware, United States36

BlackRock, Inc., July 6, 2018 3% WpHG §§ 34, 38(1) No. 3.28% 6,051,749 Wilmington, (1), 38(1) No. (2) Over Delaware, United States37

BlackRock, Inc., July 9, 2018 3% WpHG §§ 34, 38(1) No. 3.28% 6,043,515 Wilmington, (1), 38(1) No. (2) Over Delaware, United States38

BlackRock, Inc., July 16, 2018 3% WpHG §§ 34, 38(1) No. 3.27% 6,032,134 Wilmington, (1), 38(1) No. (2) Over Delaware, United States39

BlackRock, Inc., July 17, 2018 3% WpHG §§ 34, 38(1) No. 3.27% 6,034,233 Wilmington, (1), 38(1) No. (2) Over Delaware, United States40

Baillie Gifford & July 24, 2018 5% WpHG § 34 5.01% 9,236,540 Co., Edinburgh, Over Scotland, United Kingdom41

BlackRock, Inc., July 25, 2018 3% WpHG §§ 34, 38(1) No. 3.26% 6,014,762 Wilmington, (1), 38(1) No. (2) Over Delaware, United States42

BlackRock, Inc., August 3, 2018 3% WpHG §§ 34, 38(1) No. 3.28% 6,053,350 Wilmington, (1), 38(1) No. (2) Over

""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""" %' cf. publication by Delivery Hero SE from July 10, 2018" %( cf. publication by Delivery Hero SE from July 10, 2018 %) cf. publication by Delivery Hero SE from July 16, 2018 %* cf. publication by Delivery Hero SE from July 16, 2018 %+ cf. publication by Delivery Hero SE from July 19, 2018 &" cf. publication by Delivery Hero SE from July 24, 2018 &# cf. publication by Delivery Hero SE from July 30, 2018 &$ cf. publication by Delivery Hero SE from August 2, 2018

$#" Delaware, United States43

BlackRock, Inc., August 15, 2018 3% WpHG §§ 34, 38(1) No. 3.20% 5,953,516 Wilmington, (1), 38(1) No. (2) Over Delaware, United States44

Ruane, Cunniff & September 14, 3% WpHG § 34 3.01% 5,604,465 Goldfarb L.P., 2018 Over Wilmington, Delaware, United States45

Caledonia (Private) October 11, 2018 3% WpHG § 33 3.09% 5,752,875 Investments Pty Over Limited, Sydney, Australia46

Rocket Internet SE, January 17, 2019 5% WpHG §§ 34, 38(1) No. 5.25% 9,755,504 Berlin, Germany47 (1) Over

Rocket Internet SE, January 25, 2019 5% WpHG §§ 34, 38(1) No. 4.95% 9,205,215 Berlin, Germany48 (1) Under

Rocket Internet SE, April 5, 2019 5% WpHG §§ 34, 38(1) No. 3.28% 6,148,215 Berlin, Germany49 (1) Under

Rocket Internet SE, April 18, 2019 3% WpHG §§ 34, 38(1) No. 2.93% 5,498,504 Berlin, Germany50 (1) Under

BlackRock, Inc., May 17, 2019 3% WpHG §§ 34, 38(1) No. 3.19% 5,984,661 Wilmington, (1) Over Delaware, United States51

""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""" &% cf. publication by Delivery Hero SE from August 8, 2018 && cf. publication by Delivery Hero SE from August 20, 2018 and correction by Delivery Hero SE from November 6, 2018 &' cf. publication by Delivery Hero SE from September 24, 2018 &( cf. publication by Delivery Hero SE from October 15, 2018 &) cf. publication by Delivery Hero SE from January 25, 2019 &* cf. publication by Delivery Hero SE from January 31, 2019 &+ cf. publication by Delivery Hero SE from April 10, 2019" '" cf. publication by Delivery Hero SE from April 25, 2019 '# cf. publication by Delivery Hero SE from May 23, 2019

$$" BlackRock, Inc., May 20, 2019 3% WpHG §§ 34, 38(1) No. 3.17% 5,937,342 Wilmington, (1) Over Delaware, United States52

BlackRock, Inc., May 22, 2019 3% WpHG §§ 34, 38(1) No. 3.24% 6,109,240 Wilmington, (1) Over Delaware, United States53

BlackRock, Inc., May 27, 2019 3% WpHG §§ 34, 38(1) No. 3.15% 5,948,850 Wilmington, (1) Over Delaware, United States54

BlackRock, Inc., May 28, 2019 3% WpHG §§ 34, 38(1) No. 3.45% 6,515,001 Wilmington, Over (1) Delaware, United States55

Baillie Gifford & August 20, 2019 5% WpHG § 34 6.88% 12,981,413 Co., Edinburgh, Over Scotland, United Kingdom56

BlackRock, Inc., September 6, 3% WpHG §§ 34, 38(1) No. 3.54% 6,675,133 Wilmington, 2019 (1) Over Delaware, United States57

BlackRock, Inc., September 10, 3% WpHG §§ 34, 38(1) No. 3.53% 6,671,303 Wilmington, 2019 (1), 38(1) No. (2) Over Delaware, United States58

Baillie Gifford & October 1, 2019 10% WpHG § 34 10.57% 19,952,248 Co., Edinburgh, Over Scotland, United Kingdom59

""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""" '$ cf. publication by Delivery Hero SE from May 27, 2019 '% cf. publication by Delivery Hero SE from May 28, 2019 '& cf. publication by Delivery Hero SE from June 3, 2019 '' cf. publication by Delivery Hero SE from June 3, 2019 '( cf. publication by Delivery Hero SE from August 26, 2019 ') cf. publication by Delivery Hero SE from September 12, 2019 '* cf. publication by Delivery Hero SE from September 16, 2019 '+ cf. publication and correction by Delivery Hero SE from October 8, 2019

$%" BlackRock, Inc., November 6, 3% WpHG §§ 34, 38(1) No. 3.48% 6,574,448 Wilmington, 2019 (1), 38(1) No. (2) Over Delaware, United States60

Naspers Limited, March 20, 2019 20% WpHG § 34 22.32% 41,849,859 Cape Town, South Over Africa61

Naspers Limited, May 16, 2019 20% WpHG § 34 22.32% 41,849,859 Cape Town, South Over Africa62

Naspers Limited, September 14, 20% WpHG § 34 22.17% 41,849,859 Cape Town, South 2019 Over Africa63

Gregory November 6, 5% WpHG § 34 5.38% 10,163,854 Alexander64 2019 Over

Ruane, Cunniff & November 6, 3% WpHG § 34 0.02% 28,464 Goldfarb L.P., 2019 Under Wilmington, Delaware, United States65

BlackRock, Inc., November 13, 3% WpHG §§ 34, 38(1) No. 3.50% 6,607,334 Wilmington, 2019 (1), 38(1) No. (2) Over Delaware, United States66

The Capital Group January 10, 2020 3% WpHG § 34 3.13% 5,908,196 Companies, Inc., Over Los Angeles, California, United States67

""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""" (" cf. publication by Delivery Hero SE from November 12, 2019 (# cf. publication by Delivery Hero SE from November 12, 2019 ($ cf. publication by Delivery Hero SE from November 12, 2019 (% cf. publication by Delivery Hero SE from November 12, 2019 (& cf. publication by Delivery Hero SE from November 13, 2019 (' cf. publication by Delivery Hero SE from November 13, 2019 (( cf. publication by Delivery Hero SE from November 19, 2019" () cf. publication and correction by Delivery Hero SE from January 16, 2020

$&" Naspers Limited, January 15, 2020 20% WpHG § 34 22.17% 41,849,859 Cape Town, South Over Africa68

The Capital Group January 16, 2020 5% WpHG § 34 5.82% 10,984,331 Companies, Inc., Over Los Angeles, California, United States69

BlackRock, Inc., January 16, 2020 3% WpHG §§ 34, 38(1) No. 3.64% 6,866,113& Wilmington, (1), 38(1) No. (2) Over Delaware, United States70

BlackRock, Inc., January 17, 2020 3% WpHG §§ 34, 38(1) No. 3.48% 6,847,893 Wilmington, (1), 38(1) No. (2) Over Delaware, United States71

BlackRock, Inc., January 20, 2020 3% WpHG §§ 34, 38(1) No. 3.48% 6,848,127 Wilmington, (1), 38(1) No. (2) Over Delaware, United States72

BlackRock, Inc., January 21, 2020 3% WpHG §§ 34, 38(1) No. 3.46% 6,821,120 Wilmington, (1), 38(1) No. (2) Over Delaware, United States73

Gregory January 17, 2020 3% WpHG § 34 4.87% 9,600,000 Alexander74 Over

BlackRock, Inc., January 22, 2020 3% WpHG §§ 34, 38(1) No. 3.46% 6,814,532 Wilmington, Over (1), 38(1) No. (2) Delaware, United States75

""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""" (* cf. publication by Delivery Hero SE from January 17, 2020 (+ cf. publication by Delivery Hero SE from January 22, 2020 )" cf. publication by Delivery Hero SE from January 23, 2020" )# cf. publication by Delivery Hero SE from January 24, 2020" )$ "cf. publication by Delivery Hero SE from January 24, 2020" )% "cf. publication by Delivery Hero SE from January 24, 2020" )& "cf. publication by Delivery Hero SE from January 27, 2020" )' "cf. publication by Delivery Hero SE from January 27, 2020"

$'" BlackRock, Inc., January 30, 2020 3% WpHG §§ 34, 38(1) No. 3,46% 6,808,447 Wilmington, Over (1), 38(1) No. (2) Delaware, Vereinigte Staaten von Amerika76

BlackRock, Inc., February 04, 2020 3% WpHG §§ 34, 38(1) No. 3,44% 6,780,412 Wilmington, Over (1), 38(1) No. (2) Delaware, Vereinigte Staaten von Amerika77

BlackRock, Inc., 24.02.2020 3% WpHG §§ 34, 38(1) No. 3,48% 6.856.219 Wilmington, (1), 38(1) No. (2) Delaware, Over Vereinigte Staaten von Amerika78

BlackRock, Inc., 25.02.2020 3% WpHG §§ 34, 38(1) No. 3,46% 6.808.005 Wilmington, (1), 38(1) No. (2) Delaware, Over Vereinigte Staaten von Amerika79

BlackRock, Inc., 28.02.2020 3% WpHG §§ 34, 38(1) No. 3,46% 6.821.710 Wilmington, (1), 38(1) No. (2) Delaware, Over Vereinigte Staaten von Amerika80

BlackRock, Inc., 05.03.2020 3% WpHG §§ 34, 38(1) No. 3,45% 6.808.059 Wilmington, (1), 38(1) No. (2) Delaware, Over Vereinigte Staaten von Amerika81

BlackRock, Inc., 10.03.2020 3% WpHG §§ 34, 38(1) No. 3,45% 6.820.611 Wilmington, (1), 38(1) No. (2) Delaware, Over Vereinigte Staaten von Amerika82

BlackRock, Inc., 12.03.2020 3% WpHG §§ 34, 38(1) No. 3,43% 6.774.776 Wilmington, (1), 38(1) No. (2) Delaware, Over Vereinigte Staaten von Amerika83

""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""" )( "vgl. Veröffentlichung durch die Delivery Hero SE vom 05.02.2020" )) "vgl. Veröffentlichung durch die Delivery Hero SE vom 10.02.2020" )* "vgl. Veröffentlichung durch die Delivery Hero SE vom 03.03.2020" )+ "vgl. Veröffentlichung durch die Delivery Hero SE vom 03.03.2020" *" "vgl. Veröffentlichung durch die Delivery Hero SE vom 05.03.2020" *# "vgl. Veröffentlichung durch die Delivery Hero SE vom 11.03.2020" *$ "vgl. Veröffentlichung durch die Delivery Hero SE vom 17.03.2020" *% "vgl. Veröffentlichung durch die Delivery Hero SE vom 18.03.2020"

$(" BlackRock, Inc., 20.03.2020 3% WpHG §§ 34, 38(1) No. 3,46% 6.852.688 Wilmington, (1), 38(1) No. (2) Delaware, Over Vereinigte Staaten von Amerika84

BlackRock, Inc., 23.03.2020 3% WpHG §§ 34, 38(1) No. 3,47% 6.872.103 Wilmington, (1), 38(1) No. (2) Delaware, Over Vereinigte Staaten von Amerika85

BlackRock, Inc., 26.03.2020 3% WpHG §§ 34, 38(1) No. 3,59% 7.110.022 Wilmington, (1), 38(1) No. (2) Delaware, Over Vereinigte Staaten von Amerika86

BlackRock, Inc., 27.03.2020 3% WpHG §§ 34, 38(1) No. 3,50% 6.929.682 Wilmington, (1), 38(1) No. (2) Delaware, Over Vereinigte Staaten von Amerika87

BlackRock, Inc., 31.03.2020 3% WpHG §§ 34, 38(1) No. 3,65% 7.211.360 Wilmington, (1), 38(1) No. (2) Delaware, Over Vereinigte Staaten von Amerika88

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""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""" *& "vgl. Veröffentlichung durch die Delivery Hero SE vom 27.03.2020" *' "vgl. Veröffentlichung durch die Delivery Hero SE vom 27.03.2020" *( "vgl. Veröffentlichung durch die Delivery Hero SE vom 01.04.2020" *) "vgl. Veröffentlichung durch die Delivery Hero SE vom 02.04.2020" ** "vgl. Veröffentlichung durch die Delivery Hero SE vom 06.04.2020"

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%'" Delivery Hero SE, Berlin Annex I Statement of movements in fixed assets during the 2019 financial year (gross presentation) Costs

Carried Additions from Status after mergers forward Additions Reclassifications Disposals 31.12.2019 mergers 01.01.2019 01.01.2019 01.01.2019

EUR Mio. EUR Mio. EUR Mio. EUR Mio. EUR Mio. EUR Mio. EUR Mio.

I. Intangible assets

1. Internally generated intangible assets 2,0 0,0 0,0 3,6 0,5 -0,2 5,9 2. Purchased trademarks and software 17,9 0,0 0,0 2,1 -0,2 0,0 19,9 3. Advance payments and assets under development 0,7 0,0 0,0 2,0 -0,3 0,0 2,4 20,6 0,0 0,0 7,7 0,0 -0,2 28,2

II. Property, plant and equipment

1. Plant and machinery 0,3 0,0 0,0 0,2 0,0 0,0 0,4 2. Office and other operating equipment 9,9 0,0 0,0 3,3 0,0 -0,1 13,1 3. Advance payments and construction in progress 0,2 0,0 0,0 1,1 0,0 0,0 1,3 10,4 0,0 0,0 4,5 0,0 -0,1 14,8

III. Financial assets 1. Shares in affiliated companies 1.795,2 800,4 2.595,6 253,7 0,0 -1.149,3 1.700,1 2. Loans to afilliated companies 607,5 89,5 697,0 624,1 0,0 -367,0 954,0 3. Investments 205,9 0,0 0,0 24,2 0,0 -2,9 227,2 4. Securities classified as fixed assets 7,3 0,0 0,0 504,7 0,0 -47,7 464,3 5. Other Investments 5,6 0,0 0,0 43,4 0,0 0,0 49,0 2.621,6 889,9 3.292,6 1.450,0 0,0 -1.566,9 3.394,5 2.652,6 889,9 3.292,6 1.462,2 0,0 -1.567,2 3.437,5 Accumulated amortization, depreciation and write-downs Net book value

Amotization, Carried Amotization, depreciation Status after depreciation and write- forward and write-downs from mergers Reclassifications Disposals 31.12.2019 31.12.2019 31.12.2018 downs during the fiscal 01.01.2019 mergers 01.01.2019 01.01.2019 year EUR Mio. EUR Mio. EUR Mio. EUR Mio. EUR Mio. EUR Mio. EUR Mio. EUR Mio. EUR Mio.

0,5 0,0 0,0 1,3 0,0 -0,1 1,7 4,2 1,5 5,0 0,0 0,0 3,5 0,0 0,0 8,4 11,5 12,9

0,0 0,0 0,0 0,0 0,0 0,0 0,0 2,4 0,7 5,5 0,0 0,0 4,8 0,0 -0,1 10,1 18,0 15,1

0,0 0,0 0,0 0,1 0,0 0,0 0,1 0,3 0,2

4,3 0,0 0,0 2,5 0,0 -0,1 6,8 6,3 5,6

0,0 0,0 0,0 0,0 0,0 0,0 0,0 1,3 0,2 4,4 0,0 0,0 2,6 0,0 -0,1 6,9 7,9 6,0

108,9 106,9 215,8 67,7 0,0 -62,4 221,1 1.479,0 1.686,3

107,1 0,0 0,0 80,0 0,0 0,0 187,1 766,9 500,4 0,0 0,0 0,0 1,5 0,0 0,0 1,5 225,7 205,9 0,0 0,0 0,0 0,0 0,0 0,0 0,0 464,3 7,3 5,3 0,0 0,0 0,0 0,0 0,0 5,3 43,7 0,3 221,3 106,9 215,8 149,2 0,0 -62,4 415,0 2.979,5 2.400,2 231,2 106,9 215,8 156,5 0,0 -62,6 432,0 3.005,4 2.421,4 Appendix II List of Shareholdings persuant to Section 313 of the German Commercial Code (HGB)

Amount of Net income (loss) Share of Capital 2019 Functional equity in EUR for the year in EUR Name and registered office of the affiliated company (%) Currency million million Germany: Brillant 1421. GmbH, Berlin 100,00 EUR 7,68 0,07 Delivery Hero (Hong Kong) UG (haftungsbeschränkt) & Co. KG (ehem. Jade 1343 GmbH & Co. 15. Verwaltungs KG), Berlin 100,00 EUR -6,78 -0,42 Delivery Hero (India) UG (haftungsbeschränkt) & Co. KG (ehem. Jade 1343 GmbH & Co. Siebte Verwaltungs KG), Berlin 100,00 EUR -9,68 -0,98 Delivery Hero (Pakistan) UG (haftungsbeschränkt) & Co. KG (ehem. Jade 1343 GmbH & Co. Neunte Verwaltungs KG), Berlin 100,00 EUR 2,68 0,08 Delivery Hero (Philippines) UG (haftungsbeschränkt) & Co. KG (ehem.Jade 1343 GmbH & Co. 13. Verwaltungs KG), Berlin 100,00 EUR 3,78 0,10 Delivery Hero Austria GmbH, Berlin 100,00 EUR 0,54 0,03 Delivery Hero Kitchens Holding GmbH, Berlin 100,00 EUR 0,03 0,00 Delivery Hero Local Verwaltungs GmbH, Berlin 100,00 EUR 0,02 0,00 Delivery Hero Stores Holding GmbH (ehem. Foodora Services Germany GmbH), Berlin 100,00 EUR 0,53 -0,02 DH Financial Services Holding GmbH (ehem. Delivery Hero Payments GmbH), Berlin 100,00 EUR 0,12 -0,02 Foodpanda GmbH, Berlin 100,00 EUR 132,67 -0,76 Foodpanda GP UG (haftungsbeschränkt), Berlin 100,00 EUR 0,02 0,00 Jade 1343 GmbH & Co. Vierte Verwaltungs KG, Berlin 100,00 EUR 2,22 0,08 Juwel 220. VV UG (haftungsbeschränkt), Berlin 100,00 EUR 0,56 0,00 RGP Trust GmbH, Berlin 100,00 EUR 0,00 0,00 Sweetheart Kitchen Operations GmbH, Berlin 60,00 EUR -4,99 -5,32 Valk Fleet Deutschland GmbH (ehem. Rushy Logistik), Berlin 100,00 EUR -0,78 -0,04 Valk Fleet Holding GmbH & Co. KG, Berlin 100,00 EUR -9,66 -0,36 Valk Fleet Verwaltungs GmbH, Berlin 100,00 EUR 0,02 0,00

International: Appetito Veinticuatro Ltda., San Jose (CR) 100,00 CRC -0,16 0,01 Aravo S.A., Montevideo (UY) 100,00 UYU 17,08 -39,79 Baedaltong Co. LLC (ehem. Baedaltong Co. Ltd.), Seoul (KR) 100,00 KRW -14,76 1,09 Carriage Delivery Services LLC, Abu Dhabi (UAE) 100,00 AED -4,68 -0,80 Carriage Holding Company Ltd., Abu Dhabi (UAE) 100,00 AED 85,06 131,74 Carriage KSA LLC, (ehem. Establishment of Abdullah Al Mutawa), Kuwait (KW) 100,00 SAR -24,30 -15,43 Carriage Logistics SPC, Manama (BH) 100,00 BHD -9,44 -5,22 Carriage Trading & Services Co. WLL, Doha (QA) 100,00 QAR 9,95 6,28 ClickDelivery S.A.C, Lima (PE) 100,00 PEN -3,44 -1,69 ClickDelivery S.A.S., Bogota (CO) 100,00 COP 0,00 0,00 Cloud Treats Romania SA, Cluj-Napoca (ROU) 100,00 RON -1,14 -0,74 Damejidlo cz. s.r.o. (ehem. Pizzatime s.r.o.), Prag (CZ) 100,00 CZK -8,57 -2,08 Dámejídlo.cz. Logistiks s.r.o. (ehem. Valk Fleet s.r.o.), Prag (CZ) 100,00 CZK -1,99 -1,09 Dark Stores MENA Holding Ltd., Abu Dhabi (UAE) 100,00 AED 0,00 0,00 Delivery Hero (Cyprus) Ltd. (ehem. AA Foody Cyprus Ltd.), Nikosia (CYP) 100,00 EUR 0,99 0,34 Delivery Hero (Singapore) Pte. Ltd. (ehem. Foodpanda Singapore Pte. Ltd.), Singapur (SGP) 100,00 SGD -88,42 -55,02 Delivery Hero (WanTea Singapore) Pte Ltd., Singapur (SGP) 100,00 SGD -0,03 -0,03 Delivery Hero APAC PTE. Ltd., Singapur (SGP) 100,00 SGD -0,95 -0,95 Delivery Hero Bulgaria EOOD (ehem. Foodpanda Bulgaria EOOD), Sofia (BRG) 100,00 BGN -11,38 -6,56 Delivery Hero Cambodia Co. Ltd. , Phnom Penh (KHM) 100,00 USD 1,97 -0,11 Delivery Hero Carriage DB LLC (ehem. Carriage Food Delivery Services LLC), Dubai (UAE) 100,00 AED -7,73 -4,23 Delivery Hero Carriage Egypt LLC, Kairo (EGY) 100,00 EGP -2,22 -2,09 Delivery Hero Carriage Kuwait for Delivery of Consumables LLC (ehem. Carriage Logistics General Trading Company LLC), Kuwait (KW) 100,00 KWD 16,49 -0,93 Delivery Hero Finland Oy (ehem. SLM Finland Oy), Helsinki (FI) 100,00 EUR -0,01 -0,01 Delivery Hero FZ-LLC, Dubai (UAE) 100,00 AED -3,38 0,00 Delivery Hero Hungary Kft (ehem. Viala Kf), Budapest (HU) 100,00 HUF 0,79 -2,00 Delivery Hero India Holding S.a.r.L. , Luxembourg (LU) 100,00 EUR -0,02 -0,02 Delivery Hero Korea LLC (ehem. RGP Korea Ltd.), Seoul (KR) 100,00 KRW 44,95 -43,91 Delivery Hero Lao Sole Co. Ltd. , Lao (LA) 100,00 LAK -0,41 -0,41 Delivery Hero Lebanon Sarl, Beirut (LBN) 100,00 LBP 0,00 0,00 Delivery Hero Myanmar Co. Ltd., Yangon (MMR) 100,00 MMK 1,39 -0,17 Delivery Hero Stores (Singapore) Pte. Ltd., Singapur (SGP) 100,00 SGD 0,08 -0,12 Delivery Hero Stores APAC Holding PTE. LTD., Sinagur (SGP) 100,00 SGD 0,52 0,00 Delivery Hero Stores DB LLC, Dubai (UAE) 100,00 AED 0,07 0,00 Delivery Hero Sweden AB (ehem. Online Pizza Norden AB), Stockholm (SE) 100,00 SEK 19,39 4,05 Delivery Hero Talabat DB LLC (ehem. Talabat Services Company L.L.C.), Dubai (UAE) 100,00 BHD 9,67 4,05 Delivery Hero Thailand Co. Ltd. (ehem. Foodpanda Co. Ltd.), Bangkok (THA) 100,00 THB -47,21 -36,73 DH SSC Malaysia Sdn. Bhd, Kuala Lumpur (MYS) 100,00 MYR 0,11 0,00 DH Stores (Taiwan) Co. Ltd., Daan Dist Taipei (TWN) 100,00 TWD 0,18 -0,11 DHE Logistics Malaysia Sdn. Bhd, Kuala Lumpur (MYS) 80,00 MYR -0,98 -0,98 DHH I SPC (DIFC) Ltd., Dubai (UAE) 100,00 AED -0,04 -0,03 DHH II SPC (DIFC) Ltd., Dubai (UAE) 100,00 AED 0,00 0,00 Donesi d.o.o., Banja Luka (BIH) 100,00 BAM -0,04 -0,03 Donesi d.o.o., Podgorica (MNE) 100,00 EUR 0,02 0,02 Eatoye (PVT) Limited, Karachi (PK) 100,00 PKR -1,24 -0,13 Ecommerce Business 10 S.à. r.l., Luxemburg (LU) 100,00 EUR -7,68 -1,99 Emerging Markets Online Food Delivery Holding S.à.r.l., Luxemburg (LU) 100,00 EUR 345,26 -0,33 Fly&Company LLC (ehem. Fly & Company Inc.), Seoul (KR) 100,00 KRW -13,35 -10,44 Food Basket Elektronik İletişim Gıda Ticaret Ltd. Şti, Nikosia (CYP) 100,00 TRY 0,42 0,38 Food Delivery Holding 12. S.à r.l., Luxemburg (LU) 100,00 EUR -6,37 -5,76 Food Delivery Holding 15. S.à.r.l., Luxemburg (LU) 100,00 EUR 0,02 29,64 Food Delivery Holding 20. S.à r.l., Luxemburg (LU) 100,00 EUR 0,00 -0,01 Food Delivery Holding 21. S.à r.l., Luxemburg (LU) 100,00 EUR 0,00 -0,01 Food Delivery Holding 5. S.à r.l., Luxemburg (LU) 100,00 EUR 6,18 -0,01 Food Panda Philippines Inc., Makati (PHL) 100,00 PHP -30,87 -19,82 Foodonclick.com / Jordan Private Shareholding Company, Amman (JR) 100,00 JOD -3,30 -2,66 Foodonclick-com FZ-LLC, Dubai (UAE) 100,00 AED 1,45 0,01 Foodora AB, Stockholm (SE) 100,00 SEK 1,16 -3,19 Foodora Finland Oy (ehem. R-SC Internet Services Finland OY) Helsinki, (FI) 100,00 EUR -5,29 -1,28 Foodora France SAS, Paris (FRA) 100,00 EUR -27,17 0,00 Foodora Inc. (Canada), Toronto (CAN) 100,00 CAD -25,26 -10,51 Foodora Norway AS, Oslo (NOR) 100,00 NOK -1,05 -5,50 Foodpanda (B) SDN BHD, Bandar Seri Begawan (BRN) 100,00 BND -0,64 0,01 Foodpanda Bangladesh Ltd., Dhaka (BGD) 100,00 BDT -8,29 -6,73 Foodpanda Malaysia Sdn. Bhd., Kuala Lumpur (MYS) 100,00 MYR -40,51 -30,73 Foodpanda RO SRL, Bucharest (RO) 100,00 RON -16,72 -10,52 Foodpanda Taiwan Co. Ltd., Daan Dist Taipei (TWN) 100,00 TWD -67,19 -50,40 Appendix II List of Shareholdings persuant to Section 313 of the German Commercial Code (HGB)

Amount of Net income (loss) Share of Capital 2019 Functional equity in EUR for the year in EUR Name and registered office of the affiliated company (%) Currency million million Go Delivery SA, Attica (GR) 100,00 EUR 0,31 0,01 Hungerstation LLC, Dammam (KSA) 63,00 SAR -5,09 8,65 Hungerstation SPC Ltd., Dubai (UAE) 63,00 AED -0,37 -0,81 Hungry Delivery AB, Lund (SWE) 100,00 SEK 0,10 -0,24 Inversiones CMR S.A.S, Bogota (CO) 100,00 COP -21,57 -23,81 Inversiones Delivery Hero CMR S.A. (ehem. Hellofood Hallo Essen Hollesen S.A.), Quito (EC) 100,00 USD 0,29 -3,42 Lokanta Net Elektronik İletişim Gıda Ticaret A.Ş., Istanbul (TR) 100,00 TRY 0,01 0,00 Maidan Limited, Hong Kong (HK) 100,00 HKD -1,30 -0,04 Mjam GmbH, Wien (AT) 100,00 EUR 9,69 -0,86 Mobile Venture Latin America Inc., Panama (PA) 100,00 USD -5,59 -4,33 Motwer S.A., Montevideo (URY) 100,00 UYU 0,03 -0,15 Movil Media S.R.L.,Santo Domingo (DOM) 100,00 DOP -1,41 -1,25 OFD Online Food Delivery Services Ltd., Nicosia (CYP) 100,00 EUR 4,01 3,93 Online Delivery Promotion of Internet Services Société Anonyme, Attica (GR) 100,00 EUR 19,70 11,14 Otlob for Restaurants Reservations Services S.A.E, Kairo (EGY) 100,00 EGP -20,34 -10,19 OZON MEDIA d.o.o., Zagreb (HR) 100,00 HRK -1,13 -1,28 Pagos Ya S.A., Buenos Aires (AR) 100,00 ARS 0,64 -0,08 Pedidos Ya Paraguay S.A., Asunción (PY) 100,00 PYG -0,85 -0,68 PedidosYa S.A. (ehem. Kinboy S.A.), Montevideo (UY) 100,00 USD -78,96 -60,28 PedidosYa S.A., Buenos Aires (AR) 100,00 ARS 20,46 -17,29 PedidosYa Servicios S.A. , Santa Cruz de la Sierra (BOL) 100,00 BOB -4,73 -3,97 PedidosYa SPA, Santiago (CL) 100,00 CLP -44,66 -41,33 Plotun d.o.o., Belgrad (SRB) 100,00 RSD 0,78 0,07 Ranila Online Services Limited, New Delhi (IND) 100,00 INR 0,06 -0,07 Repartos Ya S.A, Buenos Aires (AR) 100,00 ARS 0,61 -1,35 Repartos Ya S.A, Montevideo, (UY) 100,00 UYU -1,32 -1,33 RestaurangOnline Sverige AB, Lund (SWE) 100,00 SEK 0,66 -1,39 Rocket Food Limited, Sheung Wan (HK) 100,00 HKD -56,32 -36,20 R-SC Internet Services Pakistan (PVT) Limited, Karachi (PK) 100,00 PKR -29,01 -20,95 Stores Services Kuwait S.P.C., Kuwait (KW) 100,00 KWD 1,90 -0,87 Sweetheart Kitchen Holding (DIFC), Dubai (UAE) 60,00 AED -0,62 -0,62 Sweetheart Kitchen Kuwait Company, Kuwait (KW) 60,00 KWD -0,22 -0,23 Sweetheart Kitchen LLC , Dubai (UAE) 60,00 AED 1,30 1,28 Sweetheart Kitchen Operations Singapore PTE Ltd., Singapur (SGP) 60,00 SGD 0,00 0,00 Sweetheart Kitchen Saudi Arabia Limited, Kuwait (KW) 100,00 SAR -0,10 -0,10 Talabat Electronic and Delivery Services LLC. (ehem. Talabat Electronic Services Company L.L.C.), Al Khuwair (OM) 100,00 OMR -7,28 -3,34 Talabat General Trading & Contracting Company W.L.L, Sharq (KW) 100,00 KWD 86,76 32,52 Talabat Logistics & Online Management LLC, Amman, (JR) 100,00 JOD 0,04 0,07 Talabat Ltd., Kuwait (KW) 100,00 KWD 1,45 0,00 Talabat Middle East Internet Services Company L.L.C, Dubai (UAE) 100,00 AED -3,04 -7,58 Talabat QFC LLC, Doha (QA) 100,00 QAR 6,93 6,98 Talabat Restaurants Company L.L.C. Riyadh (KSA) 100,00 SAR -8,51 0,42 Talabat Services Company L.L.C. Doha (QA) 100,00 QAR 1,82 -0,13 Volo Netherlands B.V., Amsterdam (NL) 100,00 EUR -2,45 -0,85 Yemek Sepeti (Dubai) B.V., Amsterdam (NL) 100,00 EUR 147,94 -138,96 Yemek Sepeti Elektronik İletişim Tanıtım Pazarlama Gıda Sanayi ve Ticaret A.Ş., Istanbul 100,00 TRY 32,66 22,13 Yogiyo Media Company Ltd., Seoul (KR) 100,00 KRW 0,00 0,00 non-consolidated companies (at equity): Hungry Holding ApS, Lystrup (DK) 24,50 DKK 0,40 1,32 Rappi Inc., San Francisco (USA) 13,97 USD -413,07 453,55 GlovoApp23 S.L., Madrid (ES) 12,70 EUR -136,72 -177,87 BIO-LUTIONS International AG (DE) 20,16 EUR 8,63 1,61 Nosh - TZCJ Co. Ltd. (HK) 21,80 HKD -1,20 -0,06 Reproduction of the independent auditor's report

Based on the results of our audit, we have issued the following unqualified audit opinion:

Independent Auditor's Report

To Delivery Hero SE, Berlin

Report on the Audit of the Annual Financial Statements and of the Combined Management Report

Opinion

We have audited the annual financial statements of Delivery Hero SE, Berlin, which comprise the balance sheet as of December 31, 2019, and the income statement for the financial year from January 1 to December 31, 2019, and notes to the financial statements, including the recognition and measurement policies presented therein. In addition, we have audited the combined management report of Delivery Hero SE, Berlin, for the financial year from January 1 to December 31, 2019. In accordance with German legal requirements, we have not audited the content of the components of the combined management report mentioned in the section "Other information" of our audit opinion.

In our opinion, on the basis of the knowledge obtained in the audit,

– the accompanying annual financial statements comply, in all material respects, with the requirements of German commercial law applicable to corporations and give a true and fair view of the assets, liabilities and financial position of the Company as of December 31, 2019, and of its financial performance for the financial year from January 1 to December 31, 2019, in accordance with German legally required accounting principles, and

– the accompanying combined management report as a whole provides an appropriate view of the Company's position. In all material respects, this combined management report is consistent with the annual financial statements, complies with German legal requirements and appropriately presents the opportunities and risks of future development.

Our opinion on the combined management report do not cover the section “Other infor-mation”.

Pursuant to Section 322 (3) sentence 1 HGB [Handelsgesetzbuch: German Commercial Code], we declare that our audit has not led to any reservations relating to the legal compliance of the annual financial statements and of the combined management report.

Basis for the Opinion

We conducted our audit of the annual financial statements and of the combined management report in accordance with Section 317 HGB and EU Audit Regulation No. 537/2014 (referred to subsequently as "EU Audit Regulation") and in compliance with German Generally Accepted Standards for Financial Statement Audits promulgated by the Institut der Wirtschaftsprüfer [Institute of Public Auditors in Germany] (IDW). Our responsibilities under those requirements and principles are further described in the "Auditor's Responsibilities for the Audit of the Annual Financial Statements and of the Combined Management Report" section of our auditor's report. We are independent of the Company in accordance with the requirements of European law and German commercial and professional law, and we have fulfilled our other German professional responsibilities in accordance with these requirements. In addition, in accordance with Article 10 (2)(f) of the EU Audit Regulation, we declare that we have not provided non-audit services prohibited under Article 5 (1) of the EU Audit Regulation. We believe that the evidence we have obtained is sufficient and appropriate to provide a basis for our opinions on the annual financial statements and on the combined management report.

Key Audit Matters in the Audit of the Annual Financial Statements

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the annual financial statements for the financial year from January 1 to December 31, 2019. These matters were addressed in the context of our audit of the annual financial statements as a whole, and in forming our opinion thereon, we do not provide a separate opinion on these matters.

Impairment of shares in and loans made to affiliated companies

For information on the accounting policies applied, please see item II.2 in the notes to the financial statements.

THE FINANCIAL STATEMENT RISK

In the annual financial statements of Delivery Hero SE as of December 31, 2019, financial assets included shares in affiliated companies of EUR 1,479 million and loans to affiliated companies of EUR 767 million. This amounts to 65 % of total assets and thus has a material influence on the Company's assets and liabilities.

Shares in and loans to affiliated companies are recognized at cost or nominal value or, if they are expected to be permanently impaired, at their lower fair value. The Company calculates the fair value of the shares in affiliated companies using the discounted cash flow method. The discounted cash flow method is also used for loans in accordance with the remaining term. If the fair value is lower than the carrying amount, qualitative and quantitative criteria are used to determine whether the impairment is considered to be permanent. There is a risk for the financial statements that shares in and loans to affiliated companies are impaired.

Calculation of the fair value according to the discounted cash flow method is complex and, as regards the assumptions made, based largely on estimates and assessments of the Company. This applies particularly to estimates of future cash flows and long-term growth rates used for valuation, determination of the capitalization rate and, where applicable, the assessment of whether impairment is permanent.

Based on the results of the impairment testing, the Company recognized impairment losses of EUR 147.7 million on shares in and loans to affiliated companies in financial year 2019.

OUR AUDIT APPROACH

For the purposes of impairment testing of shares in and loans to affiliated companies, we calculated our own estimates for the Company's individual investments with the involvement of our valuation experts and based on general as well as sector-specific market expectations and compared these estimates with the Company's measurements.

In the event of significant deviations between our estimates and the Company's measurements, we assessed the appropriateness of the Company's key assumptions. For this purpose, we discussed with those responsible for planning the expected business and earnings development and the assumed long-term growth rates as well as the modeling of the estimated sustainable surplus cash flow. We also reconciled this information with the budget prepared by the Management Board at the group level and approved by the Supervisory Board. We also assessed the calculation method used by the Company.

We evaluated the accuracy of the previous forecasts by comparing the budgets of previous financial years with actual results and by analyzing deviations.

We compared the assumptions and parameters underlying the discount rate, in particular the risk-free rate, the market risk premium and the beta factor, with our own assumptions and publicly available data.

To ensure the computational accuracy of the valuation model used, we verified the Company's calculations on the basis of selected risk-based elements.

OUR OBSERVATIONS

The approach used for impairment testing of shares in and loans to affiliated companies is appropriate and in line with the accounting policies. The Company's assumptions and parameters are reasonable overall.

Other Information

Management is responsible for the other information. The other information comprises:

– the non-financial statement and the corporate governance statement,

– the corporate governance report and

– the remaining parts of the annual report, with the exception of the audited annual financial statements, the combined management report information audited for content and our auditor's report. Our opinion on the annual financial statements and on the combined management report do not cover the other information, and consequently we do not express an opinion or any other form of assurance conclusion thereon.

In connection with our audit, our responsibility is to read the other information and, in so doing, to consider whether the other information

– is materially inconsistent with the annual financial statements, with the management report information audited for content or our knowledge obtained in the audit, or

– otherwise appears to be materially misstated.

Responsibilities of Management and the Supervisory Board for the Annual Financial Statements and the Combined Management Report

Management is responsible for the preparation of annual financial statements that comply, in all material respects, with the requirements of German commercial law applicable to business corporations, and that the annual financial statements give a true and fair view of the assets, liabilities, financial position and financial performance of the Company in compliance with German legally required accounting principles. In addition, management is responsible for such internal control as they, in accordance with German legally required accounting principles, have determined necessary to enable the preparation of annual financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the annual financial statements, management is responsible for assessing the Company's ability to continue as a going concern. They also have the responsibility for disclosing, as applicable, matters related to going concern. In addition, they are responsible for financial reporting based on the going concern basis of accounting, provided no actual or legal circumstances conflict therewith.

Furthermore, management is responsible for the preparation of the combined management report that as a whole provides an appropriate view of the Company's position and is, in all material respects, consistent with the annual financial statements, complies with German legal requirements, and appropriately presents the opportunities and risks of future development. In addition, management is responsible for such arrangements and measures (systems) as they have considered necessary to enable the preparation of a combined management report that is in accordance with the applicable German legal requirements, and to be able to provide sufficient appropriate evidence for the assertions in the combined management report.

The Supervisory Board is responsible for overseeing the Company's financial reporting process for the preparation of the annual financial statements and of the combined management report.

Auditor's Responsibilities for the Audit of the Annual Financial Statements and of the Combined Management Report

Our objectives are to obtain reasonable assurance about whether the annual financial statements as a whole are free from material misstatement, whether due to fraud or error, and whether the combined management report as a whole provides an appropriate view of the Company's position and, in all material respects, is consistent with the annual financial statements and the knowledge obtained in the audit, complies with the German legal requirements and appropriately presents the opportunities and risks of future development, as well as to issue an auditor's report that includes our opinion on the annual financial statements and on the combined management report. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with Section 317 HGB and the EU Audit Regulation and in compliance with German Generally Accepted Standards for Financial Statement Audits promulgated by the Institut der Wirtschaftsprüfer (IDW) will always detect a material misstatement. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these annual financial statements and this combined management report.

We exercise professional judgment and maintain professional skepticism throughout the audit. We also:

– Identify and assess the risks of material misstatement of the annual financial statements and of the combined management report, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal controls.

– Obtain an understanding of internal control relevant to the audit of the annual financial statements and of arrangements and measures (systems) relevant to the audit of the combined management report in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of these systems.

– Evaluate the appropriateness of accounting policies used by management and the reasonableness of estimates made by management and related disclosures.

– Conclude on the appropriateness of management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in the auditor's report to the related disclosures in the annual financial statements and in the combined management report or, if such disclosures are inadequate, to modify our respective opinions. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to be able to continue as a going concern.

– Evaluate the overall presentation, structure and content of the annual financial statements, including the disclosures, and whether the annual financial statements present the underlying transactions and events in a manner that the annual financial statements give a true and fair view of the assets, liabilities, financial position and financial performance of the Company in compliance with German legally required accounting principles.

– Evaluate the consistency of the combined management report with the annual financial statements, its conformity with [German] law, and the view of the Company's position it provides.

– Perform audit procedures on the prospective information presented by management in the combined management report. On the basis of sufficient appropriate audit evidence we evaluate, in particular, the significant assumptions used by management as a basis for the prospective information, and evaluate the proper derivation of the prospective information from these assumptions. We do not express a separate opinion on the prospective information and on the assumptions used as a basis. There is a substantial unavoidable risk that future events will differ materially from the prospective information.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. We also provide those charged with governance with a statement that we have complied with the relevant independence requirements, and communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, the related safeguards.

From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the annual financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditor's report unless law or regulation precludes public disclosure about the matter.

Other Legal and Regulatory Requirements

Further Information pursuant to Article 10 of the EU Audit Regulation

We were elected as group auditor at the annual general meeting on June 12, 2019. We were engaged by the Supervisory Board on November 18, 2019. We have been the group auditor of Delivery Hero SE without interruption since financial year 2017.

We declare that the opinions expressed in this auditor's report are consistent with the additional report to the Audit Committee pursuant to Article 11 of the EU Audit Regulation (long-form audit report).

German Public Auditor Responsible for the Engagement

The German Public Auditor responsible for the engagement is Björn Knorr.

Berlin, April 22, 2020

KPMG AG Wirtschaftsprüfungsgesellschaft [Original German version signed by:]

[signature] Knorr [signature] Heidgen Wirtschaftsprüfer Wirtschaftsprüfer [German Public Auditor] [German Public Auditor]

Annual Financial Statement and Combined Management Report 5 I ^ !  5  Ε

Annual Financial Statement and Combined Management Report 5 I ^ ! 5 Ε