Performance Review Sustainability Review Governance Financial Statements Further Information

Group overview Performance review Sustainability review Governance Financial statements Further information Performance review Contents 41 Our performance 42 Classifieds 46 Food Delivery 52 Payments and Fintech 56 Etail 59 Ventures 64 Naspers Foundry 65 Social and Internet Platforms 67 Managing risks and opportunities 69 Monitoring of key risks Prosus annual report 2021 40 Group overview Performance review Sustainability review Governance Financial statements Further information We are building leading global businesses across our core segments of Classifieds, Our performance Food Delivery, Payments and Fintech, and Etail. And we are looking to capitalise on the next wave of growth through our Ventures arm. This year, we made strong progress on all fronts – growing our core businesses, taking advantage of new opportunities and, as ever, focusing on improving everyday life for millions of people around the world. Highlights of the year Ecommerce Classifieds Food Delivery Payments and Fintech Etail Ventures Social and Internet We made considerable progress Our core food-delivery Payments and Fintech reached a eMAG continued to strengthen its Throughout the year, we Platforms in FY21, strengthening our businesses continued to grow new level, driven by the position as a leading etailer in continued to focus on our core Early in the development of our strategic and financial position. throughout the year. iFood pandemic-fuelled acceleration in Central and Eastern Europe – areas of investment, notably internet strategy we invested in Although the pandemic affected performed strongly, growing the adoption and use of digital growing revenues by 54% (in Edtech, which became a new leading social and internet our business at the start of the gross merchandise value (GMV) payments across our core local currency, excluding M&A) core segment for the group platforms in two of our key year, we innovated to continue by 148% and revenue 205% year markets. In Latin America, and becoming profitable in terms on 1 April 2021. In all, high-growth markets, China and enabling trade, and ended the on year (in local currency, volumes grew 69% year on year. of trading profit for the first time. we invested US$163m in Russia. Tencent’s fundamentals year stronger than expected on excluding M&A), strengthening its Poland and Romania were also 18 transactions, including remain strong with excellent both revenue and trading profit. position in Brazil. very strong. In our core market investments in Edtech and growth prospects in China, while of India, volumes grew 42% year in India, another key focus Mail.ru continues to be the Delivery Hero also had a strong on year (in local currency, area for Ventures. largest internet group in Russia. year, reporting €12.4bn in GMV excluding M&A). and €2 472m gross revenue from continuing operations for its year ended 31 December 2020. Iyzico Read more on page 42 Read more on page 46 Read more on page 52 Read more on page 56 Read more on page 59 Read more on page 65 Prosus annual report 2021 41 Group overview Performance review Sustainability review Governance Financial statements Further information The opportunity Shaping the future CAR AND REAL ESTATE REPRESENT KEY CATEGORIES IN Classifieds is a highly dynamic environment. Trends This year we sharpened OLX Group’s purpose to REVENUE (%) Classifieds are accelerating, offering many opportunities and better reflect our objectives and contribution to the challenges. We see four key trends and are world: We shape the future of trade to unlock Shaping the future of trade aligning OLX Group to capitalise on these. Firstly, the hidden value in everything. to unlock the hidden value user needs are evolving. Users are looking for more trust, more safety, more convenience, more In a future dominated by digital, we will create in everything. help. They are expecting, and getting, seamless customer journeys that are simple and seamless. online-to-offline experiences, with more support This will facilitate trade in many ways, thereby along the transaction chain. Secondly, the helping consumers unlock value in the items they 1 REVENUE (US$’m) competitive landscape is changing, with global own, the businesses they run, and the means they 2021 1 559 digital players entering classifieds trade. Thirdly, AI have to improve their lives. This means goods will is becoming increasingly critical. AI can radically have multiple lives, extending the value of the 2020 1 281 world’s limited resources. improve user experiences, automate or optimise Cars 55% tasks and enable new product features – it is truly Real estate 16% TRADING PROFIT1 (US$’m) In addition, we will unlock value in our people by transformative. Fourthly, sustainability is at the Goods 9% forefront now. Many believe that current global investing in their development. We will also unlock 2021 9 enterprise value for our shareholders by being Jobs and services 11% consumption patterns are unsustainable, with Advertising and other 9% 2020 34 natural resources being depleted and most items resourceful and identifying opportunities to solve only used once. We agree that the world needs a even more customer problems. smarter model of consumption, where products Performance highlights and materials are used more effectively. This Accelerating our growth OLX GROUP We made considerable progress during the requires changing consumer behaviour and In the year we accelerated our move into the year and strengthened our strategic and supporting circular business models and products. transaction space, and developed differentiated financial position. The Covid-19 pandemic At OLX Group, we want to lead this change, to propositions for consumers, supporting our affected our business at the start of the year. improve everyday life for people in a responsible, customers along their transaction journey. 322m 58m monthly active users net new listings However, we innovated to continue enabling sustainable way. trade and ended the year with strong Most car dealers and agents were facing little to no momentum, with both revenue and trading demand and inspection centres closed across Asia Present in profit exceeding initial expectations. and Latin America due to the Covid-19 pandemic. We innovated to continue enabling trade, and came m 1 Presented on an economic-interest basis. 116 out of the year stronger than expected. monthly active app users 41 ‘In a year dominated by the Covid-19 pandemic and markets, leading positions in 24 countries characterised by an accelerating shift to digital, the power of our purpose came to the fore.’ Users are requesting more support along the chain 4.1m Lydia Paterson paying listers CFO, Classifieds SOURCE AND LIST SEARCH AND CONNECT PAY AND TRANSACT SHIP AND RECEIVE OWN AND MAINTAIN Traditional classifieds Emerging user needs Partner Service the Facilitate Support with sellers: transaction: the transfer: maintenance • Tools and client • Inspections • Delivery • Parts and repairs relationship managers • Financing • Support title transfer • Moving and furnishing (CRMs) and insurance • Warrantees • Ecosystem • Instant cash offering and returns • 828 relations Prosus annual report 2021 42 Group overview Performance review Sustainability review Governance Financial statements Further information Lockdown restrictions accelerated the digitisation Classifieds continued journey, with consumers completing more The multiple layers of our ecosystems transaction steps online, and professionals using tools to facilitate more digital interactions. Digital car Offline inspections OLX GROUP Focusing on the customer experience buying journey Pay-and-ship To further help our customers in these Physical transactions of Car history reports unprecedented times, we focused even more Verticals intensely on the customer experience. We want to Transactional Financing > bring new experiences to customers to make it marketplace Goods Motors 100 000 easier, more intuitive and convenient to derive as vehicles in a year much as possible from their most valuable assets, C2C trade such as their car or their home. Price transparency For example, pandemic restrictions aside, we are Jobs and Real > making it possible for people to drive their car to services estate 520 000 one of our inspection centres, get a fair-value monthly pay-and-ship transactions in Europe Applicant tracking assessment on the spot and, within 30 minutes, Financing Wide network of receive a cash offer for their car. Super quick, safe and convenient – this is transforming the way cars CRM services have traditionally been traded. In response to pandemic lockdowns, we developed a remote 6 250 inspection process. From the comfort and safety dealers for vehicle transactions of their own homes, people can use their Building our full ecosystem Increasing our strengths through M&A smartphones to conduct a self-assessment using AI In Russia and Europe, we extended our full We merged our Middle East entities (Dubizzle in and other technologies to identify the vehicle, the ecosystem by evolving towards a marketplace the UAE, and OLX in Pakistan, Lebanon and Egypt) make, model, year, different specifications, proposition, a customised experience where new with Emerging Markets Property Group (EMPG), a condition and quality. This is just one way we are and used goods can easily be compared, bought leading property portal in the region, retaining a shaping the future of trade. or sold. We expanded pay-and-ship to Poland, minority stake of 39.07% in the combined entity. Romania and Brazil,

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