Slides
Page 1
02 2026 EARNINGS CALL PRESENTATION August 12 , 2026 BIKE24 BUILD YOUR RIDE
Page 2
DISCLAIMER This document has been prepared by Bike24 Holding AG (the “Company” and, together with its subsidiaries, the “Group”). All material contained in this document and information presented is for information purposes only and must not be relied upon for any purpose. This document does not purport to be a full or complete description of the Company or the Group. This document does not, and is not intended to, constitute or form part of, and should not be construed as, an offer to sell, or a solicitation of an offer to purchase, subscribe for or otherwise acquire, any securities of the Company, nor shall it or any part of it form the basis of or be relied upon in connection with or act as any inducement or recommendation to enter into any contract or commitment or investment decision or other transaction whatsoever. This document is not directed at, or intended for distribution to or use by, any person or entity that is a citizen or resident or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would require any registration or licensing within such jurisdiction. Persons into whose possession this document comes should inform themselves about, and observe, any such restrictions. No representation, warranty or undertaking, express or implied, is made by the Company or any other Group company as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained herein, for any purpose whatsoever. No responsibility, obligation or liability is or will be accepted by the Company, any other Group company or any of their officers, directors, employees, affiliates, agents or advisers in relation to any written or oral information provided in this document or in connection with the document. All information in this document is subject to verification, correction, completion, updating and change without notice. Neither the Company, nor any other Group company undertake any obligation to provide the recipient with access to any additional information or to update this document or any information or to correct any inaccuracies in any such information. A significant portion of the information contained in this document, including market data and trend information, is based on estimates or expectations of the Company, and there can be no assurance that these estimates or expectations are or will prove to be accurate. Where any information and statistics are quoted from any external source, such information or statistics should not be interpreted as having been adopted or endorsed by the Company or any other person as being accurate. All statements in this document attributable to third party industry experts represent the Company’s interpretation of data, research opinion or viewpoints published by such industry experts, and have not been reviewed by them. Each publication of such industry experts speaks as of its original publication date and not as of the date of this document. Certain statements contained in this document may constitute “forward - looking statements” that involve a number of risks and uncertainties. Forward - looking statements are generally identifiable by the use of the words “may”, “will”, “should”, “plan”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “project”, “goal” or “target” or the negative of these words or other variations on these words or comparable terminology. Forward - looking statements are based on assumptions, forecasts, estimates, projections, opinions or plans that are inherently subject to significant risks, as well as uncertainties and contingencies that are subject to change. No representation is made or will be made by the Company that any forward - looking statement will be achieved or will prove to be correct. The actual future business, financial position, results of operations and prospects may differ materially from those projected or forecast in the forward - looking statements. Neither the Company nor any of the underwriters nor any of their respective affiliates nor any other person assume any obligation to update, and do not expect to publicly update, or publicly revise, any forward - looking statements or other information contained in this release, whether as a result of new information, future events or otherwise, except as otherwise required by law. This document also contains certain financial measures that are not recognized under International Financial Reporting Standards (“IFRS”), including adjusted EBITDA. These non - IFRS measures are presented because the Company believes that they and similar measures are widely used in the markets in which it operates as a means of evaluating the Company’s operating performance and financing structure. They may not be comparable to other similarly titled measures of other companies and are not measurements under IFRS or other generally accepted accounting principles. Figures shown in this presentation can be unaudited. For audited financial information please refer to annual report presented on the Company ´ s website. 12.08.2026 2
Page 3
AGENDA • GENERAL UPDATE • BUSINESS UPDATE • OUTLOOK • QUESTIONS & ANSWERS
Page 4
GENERAL UPDATE
Page 5
Q2 AT A GLANCE Key highlights CONTINUED GROWTH MOMENTUM Revenue increased to €96.1M in Q2 ( +20% ) Adjusted EBITDA improved to €5.9M ( +16% ) LOCALIZATION DRIVES ABOVE-GROUP GROWTH Localized markets grew to €21.5M ( +30% ); Main markets continued growth to €66.4M ( +17% ) DK, SI, and IR newly localized FULL BIKES CONTINUES TO GROW Bike revenue at €17.2M ( +11% ) ~9,100 bikes (+16%) assembled and shipped in our workshop New ”Collect & Ride” with partners INVENTORY BUILD-UP SECURES AVAILABILITY Deliberate stock build - up ensures high availability (+27%); while inventory efficiency holds steady at 28.8% 12.08.2026 + 20% Revenue growth €5.9M Adjusted EBITDA + 11% Bike growth + 30% Localized Markets growth 5
Page 6
BUSINESS UPDATE
Page 7
BROAD-BASED GROWTH ACROSS THE GROUP Group revenue up 20%, with PAC as the primary growth engine GROUP REVENUE (in €M) 1 Parts, Accessories & Clothing REVENUE BY CATEGORY (in €M) BIKE PAC1 Q2 2025 Q2 2026 80.0 96.1 +20.1% Q2 2025 Q2 2026 15.5 17.2 +11.0% Q2 2025 Q2 2026 64.5 78.9 +22.3% 12.08.2026 7
Page 8
EUROPEAN EXPANSION DRIVES GROWTH GSA remains the growth backbone as Localized Markets gain momentum 1 France, Italy, Spain, BeNeLux and (since 03/2025) Poland & Finland. Due to comparability, the new localizations were included in the previous year's figures GSA LOCALIZED MARKETS1 56.6 66.4 + 17% 16.6 21.5 + 30% Q2 2025 Q2 2026 1.1 0.9 - 25% Q2 2025 Q2 2026 5.7 7.4 + 30% REVENUE BY GEOGRAPHY (in €M) REST OF EEA REST OF WORLD 12.08.2026 8
Page 9
CUSTOMER KPIS Quality growth across the customer base REPEAT PURCHASE RATE ORDERS PER EXISTING CUSTOMER AVERAGE ORDER VALUE 71.2% 70.6% 1.7 1.8 ACT LY €143 €144 ACT LY 1.022M 1.244M Active Customer LTM 12.08.2026 9
Page 10
DIFFERENTIATED GROWTH BY REGION Localized Markets drive acquisition, GSA drives value 1 Customers with at least one recorded sale during the year 2 Defined as revenue divided by the number of customers AVERAGE REVENUE PER CUSTOMER2 (in €) REVENUE (in €M) ACTIVE CUSTOMERS1 (in k#) GSA LOCALIZED MARKETS 56.6 66.4 + 17% Q2 2025 Q2 2026 16.6 21.5 + 30% 307 343 + 12% 102 134 Q2 2025 Q2 2026 + 31% 185 193 + 4% 163 161 Q2 2025 Q2 2026 - 1% 12.08.2026 10
Page 11
INVENTORY (in €m) BUILDING STOCK TO SECURE AVAILABILITY More stock, less aged inventory — scaling with quality AGED STOCK 1 (in €m) 53.2 19.0 06/25 66.2 25.5 06/26 72.2 91.6 +26.9% PAC Bike 06/25 06/26 14.0 6.3 - 55.0% 1 Stock older 12 Month 12.08.2026 11
Page 12
INCOME STATEMENT H1 & Q2 at a glance 1 Gross profit is defined as Revenue less cost of goods sold 2 Contribution profit is defined as gross profit less performance marketing and selling costs 3 H1 2025 adjustments primarily reflect finance - related costs (€0.6m) and minor SAP costs; H1 2026 adjustments (€0.1m) relate just the stock option program € in Mio H1 2026 YOY Q2 2026 YOY Gross Profit 1 Contribution Profit 2 Adj. EBITDA 3 44.3 27.3 7.7 20.7% 18.6% 35.7% 26.3 16.3 5.9 18.8% 15.0% 15.8% Growth continues despite market - driven margin pressure Reflecting continued investment in growth Accelerating profitability verifies operating leverage Net Sales 167,1 20.8% 96.1 20.0% Disproportionally growth in PAC and localized markets 12.08.2026 12
Page 13
OPERATING LEVERAGE DRIVES PROFITABILITY Balancing growth, structural investments and profitability 1 H1 2025 adjustments primarily reflect finance - related costs (€0.6m) and minor SAP costs; H1 2026 adjustments relate just the sto ck option program IN % OF REVENUE H1 2026 H1 2025 CHANGE Q2 2026 Q2 2025 CHANGE Gross Profit 26.6% 26.6% 0.0pp 27.4% 27.7% (0.3pp) Performance Marketing (1.5%) (1.2%) (0.2pp) (1.5%) (1.2%) (0.3pp) Selling Costs (8.7%) (8.7%) (0.0pp) (8.9%) (8.7%) (0.2pp) Contribution Profit 16.4% 16.7% (0.3pp) 17.0% 17.8% (0.8pp) Personnel Expenses 1 (8.7%) (9.3%) 0.6pp (8.1%) (8.5%) 0.4pp Miscellaneous Income/ Expenses 1 (3.0%) (3.3%) 0.3pp (2.8%) (2.9%) 0.1pp Adj. EBITDA 1 4.6% 4.1% 0.5pp 6.1% 6.3% (0.2pp) Broadly stable, reflecting a resilient product mix Investment in customer acquisition and market shares Higher carrier costs since Q2 and increased temporary staffing Operating leverage effect and investment in future scaling 12.08.2026 13
Page 14
FREE CASH FLOW (in €m) NET LEVERAGE CASH DEPLOYED TO SECURE FUTURE GROWTH Higher stock level ensures availability; stronger profitability improves net leverage 06/25 06/26 7.7 - 16.2 14.0 - 15.2 EBITDA - 13.9 TWC and other operating CF - 0.5 Investing CF Free CF 5.9 - 8.5 - 6.2 - 0.5 5.0 - 1.6 Q2 2025 Q2 2026 Net Debt LTM EBITDA Bank 2.1x 1.1x 12.08.2026 14
Page 15
SUMMARY BIKE24 gains market share while investing in future growth PROFITABLE GROWTH OUTPACING A COMPETITIVE MARKET CONTROLLED AVAILABILITY AS A COMPETITIVE ADVANTAGE DISCIPLINED COST MANAGEMENT AND FINANCING OF GROWTH CLEAR FOUNDATION FOR CONTINUED PROFITABLE GROWTH 12.08.2026 15
Page 16
OUTLOOK
Page 17
GUIDANCE FOR 2026 Driving sustained growth and enhanced profitability 2026 REVENUE GROWTH IN €M YoY318 – 332 10% – 15% 16.0 – 20.0 5% – 6% ADJ. EBITDA IN €M ADJ. EBITDA % 12.08.2026 17
Page 18
FINANCIAL CALENDAR 2026 Berenberg and Goldman Sachs Fifteenth German Corporate Conference, Munich September 22, 2026 Q3 2026 RESULTS November 12, 2026 Hamburg Investors Day, Hamburg August 26, 2026 European - Midcap Conference, Paris September 30, 2026 12.08.2026 18
Page 19
QUESTIONS & ANSWERS