Prosus N : FY2024 Results presentation

Financial Results

For the year ended

31 March 2024

Forward looking statements

This report contains forward-looking statements as defined in the United States Private Securities Litigation Reform Act of 1995 concerning our financial condition, results of operations and businesses.

These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond our control and all of which are based on our current beliefs and expectations about future events. Forward-looking statements are typically identified by the use of forward-looking terminology such as "believes", "expects", "may", "will", "could", should", "intends", "estimates", "plans", "assumes" or "anticipates", or the negative thereof, or other variations thereon or comparable terminology, or by discussions of strategy that involve risks and uncertainties.

These forward-looking statements and other statements contained in this report regarding matters that are not historical facts involve predictions. No assurance can be given that such future results will be achieved. Actual events or results may differ materially as a result of risks and uncertainties facing us and our subsidiaries. Such risks and uncertainties could cause actual results to vary materially from the future results indicated, expressed or implied in such forward-looking statements.

There are a number of factors that could affect our future operations and could cause those results to differ materially from those expressed in the forward-looking statements including (without limitation): (a) changes to IFRS and associated interpretations, applications and practices as they apply to past, present and future periods;

1. ongoing and future acquisitions, changes to domestic and international business and market conditions such as exchange rate and interest rate movements; (c) changes in domestic and international regulatory and legislative environments; (d) changes to domestic and international operational, social, economic and political conditions; (f) labour disruptions and industrial action; and (g) the effects of both current and future litigation.

The forward-looking statements contained in the report speak only as of the date of the report. We are not under any obligation to (and expressly disclaim any such obligation to) revise or update any forward-looking statements to reflect events or circumstances after the date of the report or to reflect the occurrence of unanticipated events. We cannot give any assurance that forward-looking statements will prove correct and investors are cautioned not to place undue reliance on any forward-looking statements.

2

Group Update

Ervin Tu

FY24 Was a Strong Year for Prosus

Accelerated and peer leading revenue growth

19% Ecommerce revenue growth accelerates 2 percentage points from FY23

Ecommerce achieved overall profitability

$451m improvement in Trading Profit

Share repurchase program continued to create value

22% ($26bn) of free float, $32bn of value created since inception

Artificial Intelligence embedded across the Group

Innovating across businesses and investing in AI-first companies

Sustainability prioritised

On-track to meet all commitments

4

Consistent progress culminated in a pivotal TP milestone …

Accelerated Revenue Growth

First Ecommerce Trading Profit

Positive Free Cash Flow

Ecommerce Revenue1 (US$'m)

Ecommerce Trading Profit / (Loss)2 (US$'m)

Free Cash Flow Inflow / (Outflow)3 (US$'m)

19%

19%YoY3

YoY Growth

$451m

Improvement

YoY

38

$773m

Improvement

YoY

4.3	4.5

3.8

2.6

5.5

(372)

(58)

(370)

(413)

524

268

(72)

(249)

(371)

FY20

FY21

FY22

FY23

FY24

FY20

FY21

FY22

FY23

FY24

FY20

FY21

FY22

FY23

FY24

1 Prior year Revenue is proforma to exclude OLX Autos, Avito and the change in revenue recognition for iFood to reflect a like-for-like comparison. Growth in local currency excluding M&A.

2 Prior year Trading Profit /Loss is proforma to exclude OLX Autos and Avito.

3 To report a more sustainable and relevant indicator of our FCF generation, in FY24 we excluded specific merchant cash-related working capital. Prior period numbers are proforma to reflect this change.

5

… with strong execution across our businesses

Strong revenue growth & profit improvement supported by growing ecosystems

Tradingimprovementmargin Revenue1 (US$'m)

Food

Delivery

22%

YoY Revenue

Growth

947	1 222

FY23

FY24

15 pp

Classifieds

27%

YoY Revenue

Growth2

519	707

FY23

FY24

13 pp2

Payments & Fintech

38%

YoY Revenue

Growth

903	1 106

FY23 FY24

6 pp

Edtech

9%

YoY Revenue

Growth

134 148

FY23 FY24

32 pp

Etail

8%

YoY Revenue

Growth

1 928	2 206

FY23 FY24

1 pp

Results from continuing operations of majority owned and managed businesses. Growth in local currency excluding M&A. pp = percentage points

1. Prior year numbers are proforma to exclude OLX Autos, Avito and the change in revenue recognition for iFood to reflect a like-for-like comparison. Growth in local currency excluding M&A.
2. Excluding Ukraine, revenue growth was 22% year-over-year and a 11-percentage point improvement in trading profit.

6

iFood's ecosystem has created multiple growth drivers

Innovation continues to extend the growth lifecycle

GMV Evolution

Revenue1 (US$'m)

22%

YoY

iFood

Hall

Food	Groceries
Delivery

25%

New

initiatives

190

491

644

947

1 222

32%

FY20 FY21

FY22 FY23 FY24

Full service

Orders (m)

Credit	Ads
B2B

18%

YoY

Meal

20%

Vouchers

						80%		Food Marketplace	43%
% GMV
2015	2016	2017	2018	2019	2020	2021	2022	2023	2024

276

533

733	832	981

FY20 FY21 FY22 FY23 FY24

1 Prior year revenue has been adjusted to reflect a like-for-like comparison with FY24 when we modified our revenue recognition approach from a principle to agency basis and began netting delivery subsidies against our revenue.

7

OLX's horizontal and verticals help grow adjacencies

Expanded from pure classifieds to adjacent services with valuable and significant TAM

Food

Delivery

FindCore	Core
Classifieds	Classifieds

Goods	Jobs	Motors	Real Estate
	Payments

New	Employer	Car history	Virtual tours
& inspections	& data services
Goods/B2C	Profiles
Adjacencies		Dealer ratings	Tenant
Groceries	verification
Pay & Ship	Candidate	Car financing &
profiles	Mortgages
	leasing

Ave. Monthly Revenue per Professional Dealer /Agent (US$)1

		12%
		YoY
		22%
		YoY
ARPA	17%	31%
(Real Estate)	YoY	YoY

27%

YoY

23%

ARPDYoY (Motors)

2020

2021

2022

2023

2024

1 Average Monthly Revenue per Professional Dealer (ARPD) and Average Monthly Revenue per Professional Agent (ARPA) for all EU and SA verticals businesses.	8

We are deploying our AI capabilities to optimise Prosus

AI is embedded across the Group ...

... at a Group level via AI assistant

... in our portfolio companies

... and in our investments

Number of Queries ('000)

				221
40
Apr-23	Jul-23	Oct-23	Jan-24	Apr-24

13k	5-10%	1.3m
Unique users
across 24 Prosus	Reported productivity	Questions answered
increase
portfolio companies

~$100m/year cost reductions

due to enhanced customer-support

automation and promotions predictions alone

15% increase in marketing

campaign effectiveness

~75% of fraudulent transactions

identified with fraud models and scores

9 investments in AI-native businesses More than 900 opportunities reviewed

9

9

IRR remains below target …

Unsatisfactory IRR

NAV (US$'bn) and IRR (%)1

Returns undermined by same underperformers, which are being addressed

iFood

32

of Ecommerce portfolio

18% IRR

4% IRR

$50

$28

H1 FY22

FY24

Food2

Classifieds

(FY24)	Edtech
by entity
Payments
IRR
	B2C
	Ventures
	Travel
	Tencent
	related

	Delivery Hero	-23
	OLX Europe	28
	OLX Brazil	20
	Dubizzle	-1
	letgo/Offerup	-37
	Eruditus	17
	Stack Overflow	-39
	Skillsoft	-59
	BYJU'S	-100
	iyzico	31
	PayU India	21
	Remitly	16
	eMAG	13
	Takealot	12
	ElasticRun	30
	Meesho	26
	PharmEasy	-35
	Trip.com	10
	Tencent3	51
	Meituan3	-14

-80

-60

-40

-20

0

20

40

60

Note: Selection of disclosed investments is primarily based on valuation, and secondarily on capital invested.

1 Valuation of the Ecommerce portfolio (excluding Tencent) is based on a combination of (i) prevailing share prices for listed assets as at 21 June 2024; (ii) consensus sell-side analysts' estimates for unlisted assets; (iii) most recent post-money transactions valuation where analyst consensus is unavailable; and (iv) internal valuation for any remaining assets. The IRR is calculated including exited assets.

2	Swiggy's IRR not disclosed due to the ongoing IPO process.	10
3	Tencent includes JD.com proceeds and the value of Meituan on the day of distribution, which is then assumed as the investment cost for Meituan's IRR calculation.