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Q2 2026Trading Update 27 August 2026
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2 2 For the purposes of this notice, “presentation” means this document, its contents or any part of it. This presentation 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 or financial instruments of Delivery Hero SE. Furthermore, this presentation shall not form the basis of or be relied upon in connection with or act as any inducement to enter into any contract or commitment or investment decision whatsoever.This presentation is neither an advertisement nor a prospectus and should not be relied upon in making any investment decision to purchase, subscribe for or otherwise acquire any securities. The information and opinions contained in this presentation are provided as at the date of this presentation,are subject to change without notice and do not purport to contain all information that may be required to evaluate Delivery Hero SE. Delivery Hero SE undertakes no obligation to update or revise this presentation. No reliance may or should be placed for any purpose whatsoever on the information contained in this presentation, or any other information discussed verbally, or on its completeness, accuracy or fairness.The information in this presentation is of preliminary and abbreviated nature and may be subject to updating, revision and amendment, and such information may change materially. Neither Delivery Hero SE nor any of its directors, officers, employees, agents or affiliates undertakes or is under any duty to update this presentation or to correct any inaccuracies in any such information which may become apparent or to provide any additional information.The presentation and discussion contain Forward-Looking Statements, other estimates, opinions and projections with respect to anticipated future performance of Delivery Hero SE (“Forward-Looking Statements”). These Forward-Looking Statements can be identified by the use offorward-looking terminology, including the terms “believes”, “estimates”, “anticipates”, “expects”, “intends”, “aims”, “plans”, “predicts”, “may”, “will” or “should” or, in each case, theirnegative, or other variations or comparable terminology. These Forward-Looking Statements include all matters that are not historical facts. They appear in a number ofplaces throughout this presentation and include statements regarding Delivery Hero SE’s intentions, beliefs or current expectations concerning, among other things, Delivery Hero SE’s prospects, growth, strategies, the industry in which it operates and potential or ongoing acquisitions. By their nature, Forward-Looking Statements involve significant risks and uncertainties, because they relate to events and depend on circumstances that may or may not occur in the future. Forward-Looking Statements should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether or notsuch results will be achieved. Similarly, past performance should not be taken as an indication of future results, and no representation or warranty, express or implied, is made regarding future performance. The development of Delivery Hero SE’s prospects, growth, strategies, the industry in which it operates, and the effect of acquisitions on Delivery Hero SE may differ materially from those made in or suggested by the Forward-Looking Statements contained in this presentation or past performance. In addition, even if the development of Delivery Hero SE’s prospects, growth, strategies and the industry in which it operates are consistent with the Forward-Looking Statements contained in this presentation or past performance, those developments may not be indicative of Delivery Hero SE’s results, liquidity or financial position or of results or developments in subsequent periods not covered by this presentation. Any Forward-Looking Statements only speak as at the date of this presentation is provided to the recipient and it is up to the recipient to make its own assessment of thevalidity of any Forward-Looking Statements and assumptions. No liability whatsoever is accepted by Delivery Hero SE in respect of the achievement of such Forward-Looking Statements and assumptions. Important Notice
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3 2GMV growth accelerating to 11.3% LfL1in Q2 ’26, up from 8.8% LfL1in Q1 ’26FY ‘26 guidance: GMV growth raised to 9-11%; Revenue growth raised to 17-19% Growth 2Uber to offer €41.50 per Delivery Hero share; initial acceptance period of 10 weeks Taiwan disposal agreed at $600m; closing expected in Q4 ‘26 Structure2H1 ’26 Adj. EBITDA +4% YoY, ahead of expectationsFY ’26 guidance: Adj. EBITDA raised to €960-1,000m; FCF2raised to >€250m Profitability Key Highlights 1. Like-for-like growth rates reflect the performance of the business on a comparable basis, excluding changes in the consolidation scope (acquisitions, disposals, country exits) as applicable, and are presented in constant currency, excluding the effects of hyperinflation accounting. 2. Free Cash Flow excludes extraordinary cash outflows related to certain legal matters, primarily antitrust and rider-related matters.
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4 Our FY 2026 priorities Strengthen leadership across geographiesDeepen loyalty through subscriptions and operational excellence Expanding Quick CommerceLarge, relevant assortment, efficient picking and last-mile operations, enabling multiple new shopping occasions AI-driven product improvementDrive engagement, advertising revenue and order frequencyExecute on strategic reviewUnlock shareholder value and strengthen balance sheet Delivering on key 2026 priorities
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5 Scaling the Everyday App: the catalyst for Delivery Hero’s next legof growth Substantial TAM1expansion via multi-vertical growth A systematic approach to growth acceleration, engineered for long-term value €310bn €77bnOnline Grocery Everyday App2(Online other categories) 1. Euromonitor ecommerce data.2. 2025 market size estimates for DH markets. 5xhigher spend of QC multi-vertical customers
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6 Strong Dmart execution driving Quick Commerce growth 0% 10% 20% 30% 40% Q2'24Q3'24Q4 '24Q1' 25Q2'25Q3'25Q4 '25Q1' 26Q2'26 Dmartbusiness -YoY order growth (%) Ord ers p er store (absolute) +28%YoY orders per store inQ2 ’26 +39%YoY order growth in Q2 ’26 —highest in 3+ years 6 quartersof accelerating order growth since Q1 ’25
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7 7 Proposed Transaction Summary TransactionOverview§Uber to acquire Delivery Hero via all-cash voluntary public takeover§Offer price of €41.50 per share representing an Equity Value of €13bn1§Delivery Hero to sell business in 14 countries separately to SSW Partners for ~€1.4bn Strategic Rationale §Highly complementary platforms across mobility, food delivery and quick commerce§Broader choice, value and convenience across customers' daily needs§Joining forces with a strong partner is the right move for Delivery Hero to best secure its future competitiveness and ability to deliver value for all our stakeholders 1. Based on fully diluted shares outstanding of 314 million.2. Subject to the Boards' duties of care, fiduciary duties, and review of the published offer document, as will be set out intheir joint reasoned statement. Board Support and Timing §Management and Supervisory Boards support the offer2§Reasoned statement to be published following Uber's publication of the offer document§Closing expected in H2 ’27, subject to customary closing conditions and regulatory approvals
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8 1. Not to scale.2. The c. 6-week window comprises a 4-week deadline to draft & submit the offer document to BaFin, and c. 2 weeks for BaFin to review & approve it before publication. Transaction timeline1 Business as usual —Delivery Hero and Uber operate independently until closing•Phased transition onto one platform over time•Continuous, uninterrupted service•Further detail closer to completionT E N D E R P E R I O DInitial acceptance periodup to 10 weeksAdditional statutory acceptance period2 weeks Joint reasoned statement on the offerfrom DH Boards (§27 WpÜG) REGULATORY REVIEWS &CLEARANCE PROCESS We are here · Aug 2026 6 weeks2 Publication ofoffer documentPublication ofoffer resultsTransaction closesExpected H2 ’27Announcement of intention to make offerJuly 16, 2026 Integration begins
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9 Financial Highlights
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10 10 Note: GMV and Revenue figures are in reported currency (RC). YoY growth rates in black are in reported currency (RC). Like-for-like growth rates in green reflect the performance of the business on a comparable basis, excluding changes in the consolidation scope (acquisitions, disposals, country exits) as applicable, and are presented in constant currency, excluding the effects of hyperinflation accounting.1. Free Cash Flow excludes extraordinary cash outflows related to certain legal matters, primarily antitrust and rider-related matters Delivery Hero Group Revenue (€bn) FCF before extr. items1(€m)Adj. EBITDA (€m) (8)H1 ’25 348 H1 ’26 411 427 H1 ’25H1 ’26 +4% 24.625.7 H1 ’25H1 ’26 +10%+4% 6.9 7.8 H1 ’25H1 ’26 +18% +13% GMV (€bn) Cash flow uplift of €356m
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11 11 Note: GMV and Revenue figures are in reported currency (RC). YoY growth rates in black are in reported currency (RC). Like-for-like growth rates in green reflect the performance of the business on a comparable basis, excluding changes in the consolidation scope (acquisitions, disposals, country exits) as applicable, and are presented in constant currency, excluding the effects of hyperinflation accounting. Delivery Hero Group Revenue (€bn)Orders (m) GMV (€bn) Q2 ’25Q2 ’26 12.213.2+11% +8% Q2 ’25Q2 ’26 3.54.0+18% +15% 892981 Q2 ’25Q2 ’26 +11% +10% YoY growth on a like-for-like basisYoY growth in reported currency
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12 12 Note: GMV and Revenue figures are in reported currency (RC). YoY growth rates in black are in reported currency (RC). Like-for-like growth rates in green reflect the performance of the business on a comparable basis, excluding changes in the consolidation scope (acquisitions, disposals, country exits) as applicable, and are presented in constant currency (except for Türkiye, where reported currency is applied), excluding the effects of hyperinflation accounting.GMV, Revenue, adj. EBITDA as well as the respective growth rates in the MENA segment are impacted by operations in Türkiye qualifying as hyperinflationary economies according to IAS 29. Consequently, growth rates for Türkiye are calculated exclusively in reported currency (Euro). In Q2 2026, GMV & Revenue havebeen retrospectively adjusted with a total impact of +€23.5m and +€3.4m, respectively. MENA Platform businessGMV (€bn) Segment Revenue (€m) Key Highlights Strong GMV performance in Q2 '26, delivered against an unfavorable Eid al-Fitr comparison base and underscoring the underlying strength of the businessOutstanding momentum in Saudi Arabia, with GMV growth accelerating beyond an already strong Q1 ‘26, complemented by significant margin expansion in H1 ’26. This validates our strategic investments, with subscribers now driving 63% of GMVtalabatcarried the strong momentum from the start of the year into Q2 ‘26, driven by all business pillars Adj. EBITDA marginally softer YoY in H1 '26 as a result of planned strategic investments to further improve the consumer offer and drive adoption of Quick CommerceQ2 ’25Q2 ’26 3.74.2+15% +15% 955 Q2 ’25Q2 ’26 1,077+14% +13% YoY growth on a like-for-like basisYoY growth in reported currency
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13 13 Note: GMV and Revenue figures are in reported currency (RC). YoY growth rates in black are in reported currency (RC). Like-for-like growth rates in green reflect the performance of the business on a comparable basis, excluding changes in the consolidation scope (acquisitions, disposals, country exits) as applicable, and are presented in constant currency, excluding the effects of hyperinflation accounting. Asia Platform businessGMV (€bn) Segment Revenue (€m) GMV growth accelerated driven by improving topline momentum in South KoreaSegment revenue outgrew GMV driven by the rapid expansion of our subscription offering and further strengthened by continued roll-out of our own delivery logistics Quick Commerce scaling rapidly, delivering 39% YoY GMV growth (in CC) in South Korea, driven by increasing basket sizes and higher order frequency in Q2 ’26Adj. EBITDA/GMV margin impact of -20 bps YoY in H1 ’26 reflecting targeted growth investments in subscription, multi-verticality and own-delivery logistics in South Korea to enhance CX and capture long-term upside Key Highlights Q2 ’25Q2 ’26 5.25.0+6% -3% Q2 ’25Q2 ’26 1,0351,063+11% +3% YoY growth on a like-for-like basisYoY growth in reported currency
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14 14 Key Highlights Topline growth accelerated driven by strong operational performance of Glovo, with further momentum anticipated in H2 ’26 Subscriber adoption expanded consistently, whileQuick Commerce grew by 19% YoY, significantly outpacing overall topline performance in Europe in Q2 ‘26High-margin AdTech business delivered 32% YoY growth in Q2 ’26, representing runway for further margin expansion and long-term profitabilityAdj. EBITDA/GMV margin expanded by +70 bps YoY in H1 ‘26 reflecting enhanced operational efficiency Note: GMV and Revenue figures are in reported currency (RC). YoY growth rates in black are in reported currency (RC). Like-for-like growth rates in green reflect the performance of the business on a comparable basis, excluding changes in the consolidation scope (acquisitions, disposals, country exits) as applicable, and are presented in constant currency, excluding the effects of hyperinflation accounting. Europe Platform businessGMV (€bn) Segment Revenue (€m) Q2 ’25Q2 ’26 2.42.6+8%+7% 618662 Q2 ’25Q2 ’26 +8% +7% YoY growth on a like-for-like basisYoY growth in reported currency
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15 15 Note: GMV and Revenue figures are in reported currency (RC). YoY growth rates in black are in reported currency (RC). Like-for-like growth rates in green reflect the performance of the business on a comparable basis, excluding changes in the consolidation scope (acquisitions, disposals, country exits) as applicable, and are presented in constant currency (except for Argentina, where reported currency is applied), excluding the effects of hyperinflation accounting. GMV, Revenue, adj. EBITDA as well as the respective growth rates of the Americas segment are impacted by operations in Argentinaqualifying as hyperinflationary economy according to IAS 29. Consequently, growth rates for Argentina are calculated exclusively in reported currency (Euro). In Q2 2026, GMV and Revenue have been retrospectively adjusted with a total impact of +€2.6m and -€0.1m, respectively. Americas Platform businessGMV (€m) Segment Revenue (€m) Key Highlights Sharp acceleration in topline growth (Q1 ‘26: 18% YoY)propelled by robust subscriber adoption, now capturing 40% of GMV and the continued roll-out of multi-vertical offeringsQuick Commerce scaling with exceptional growth of 57% YoY driven by footprint expansion and key enhancements to customer experience Rapid AdTech expansion continues to boost revenue growth, unlocking enhanced monetization potential and driving high-margin revenue contribution Profitability improved significantly, with adj. EBITDA growing 52% YoY to €70.3m in H1 ’26, underpinned by strong operating leverage and margin expansion Key Highlights 954 Q2 ’25Q2 ’26 1,349+29% +42% 228 325 Q2 ’25Q2 ’26 +31% +42% YoY growth on a like-for-like basisYoY growth in reported currency
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16 16 Note: GMV and Revenue figures are in reported currency (RC). YoY growth rates in black are in reported currency (RC). Like-for-like growth rates in green reflect the performance of the business on a comparable basis, excluding changes in the consolidation scope (acquisitions, disposals, country exits) as applicable, and are presented in constant currency, excluding the effects of hyperinflation accounting.GMV, Revenue, adj. EBITDA as well as the respective growth rates of the Integrated Verticals segment are impacted by operations in Argentina and Türkiye qualifying as hyperinflationary economy according to IAS 29. Consequently, growth rates for Argentina and Türkiye are calculated exclusively in reported currency (Euro). In Q2 2026, GMV & Revenue have been retrospectively adjusted with a total impact of +€3.3m and +€1.9m, respectively. Integrated VerticalsGMV (€m) Segment Revenue (€m) Integrated Verticals momentum accelerated further in Q2 ’26,poweredby robust, broad-based operational executionand exceptional performance in MENA, Americas and AsiaAdTech revenues growing rapidlyturning into a significant driver for revenue growth with further scaling potential Strategic growth investments to enhance value proposition and scaling of Dmartsfootprint remain on-track, with majority of planned store openings scheduled to launch and drive further momentum in H2’26Adj. EBITDA/GMV margin 20 bps lower YoY in H1 ‘26, reflecting investments in the customer experience Key Highlights 828 Q2 ’25Q2 ’26 1,092+32% +32% 763 Q2 ’25Q2 ’26 1,039+36% +36% YoY growth on a like-for-like basisYoY growth in reported currency
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17 17 Solid performance of underlying profitability in H1 2026(in € m) H1 2025H1 2026YoY CommentsAdj. EBITDA411427+4%Management adjustments(43)(194)>100%o/w legal matters19(173)n.m.Competition and antitrust-related riskso/w reorganization & restructuring(42)(11)(74)%o/w corporate transactions & financing measures(20)(10)(50)%Share-based compensation (SBC)(126)(157)+25%Different vesting structure and lower expense reversals due to new incentive programOther reconciliation items1 3 >100% EBITDA 24379(68)%D&A (240)(239)(0)%EBIT 3(160)n.m.Financial result(274)(130)(52)%Net fair-value gains from FX, partly offset by higher interest expense on the new term loanTaxes (85)(69)(19)%Net result (356)(359)+1%
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18 18 Strong Free Cash Flow growth supported by working capital dynamics(in €m) H1 2025H1 2026YoY CommentsNet result (356)(359)(3)(+) Non-cash items730666(65)(-) Income taxes paid(129)(124)+5(+/-) Change in Working Capital(incl. PSP1receivables and restaurant liabilities)476177(299)H1 ’25: €212m Taiwan breakup fee inflow and €329m EU antitrust settlement reclassification from provision to liabilities (+/-) Change in provisions2 (325)175+500H1’ 25: €329m EU antitrust settlement reclassification from provision to liabilities Cash Flow from operating activities395535+139Higher op. cash flow driven by improving Working Capital (-) Capex (tangible and intangible)(154)(138)+16Dmart investments to step up in H2 ‘26(-) Lease payments (IFRS 16)(76)(92)(16)Free Cash Flow (after extraordinary items)165305+140(+) Rider-related classification disputes in Spain4017(23)(+) Anti-trust matters- 26n.m.(-) Taiwan breakup fee (working capital)(212)- n.m.Free Cash Flow (before extraordinary items)(8)348+356FCF benefitted from improving Working Capital & lower capex Note: Free Cash Flow before extraordinary items excludes extraordinary cash outflows related to ongoing legal disputes (e.g., EU antitrust and GlovoSpain) and extraordinary cash inflows from M&A breakup fees. 1. Payment Service Provider.2. In H1 2025, the provision related to the settlement with the EU competition authorities was reclassified into a liability.This reclassification had a positive effect on the change in working capital, while remaining neutral for operating cash flow.
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19 19 Substantial liquidity cushionof €2.8bn 177 (9)(104) 522 2,113 427 (138)(92)(124) 2,2502,772 Cash & cashequiv. end of FY'25Adj. EBITDAChange in Working Capital CAPEXLeasingTaxes paidOthersNet interest paidSubtotalRefinancingCash & cashequiv. end of H1'26 Values in € million Comment§Operating cash flow generation: enhancedprofitability supports underlying cash flow performance§Working Capital: inflow due to timing effects (PSP payments), expected to reverse in H2 ’26§Capex & Leasing:driven by Dmartexpansion with a step-up in investment pace in H2 ‘26 captured in updated guidance§Refinancing:proceeds from March ‘26 term loan transaction of USD 1.4 billion after deducting funds used for 2026 (€56m) and 2027 (€534m) convertible bonds repurchase 1. As of June 30, 2026, cash of € 74.4 million is included in a disposal group classified as held for sale. 1
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20 Outlook
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21 21 Updated FY 2026 Guidance Note: GMV and Total Segment Revenue in constant currency, excluding hyperinflation accounting and on a like-for-like basis. Like-for-like growth reflects the performance of the business on a comparable basis, excluding changes in the consolidation scope (acquisitions, disposals, country exits) as applicable. Adj. EBITDA and FCF are in reported currency and including hyperinflation accounting. FY 2026 adj. EBITDA and FCF guidance is based on FX rates as of July 2026. The Free Cash Flow guidance for the FY 2026 excludes extraordinary cash outflows related to certain legal matters, primarily antitrust and rider-related matters. 9-11% (LfL)previously: 8-10% LfL GMV 17-19% (LfL)previously: 14-16% LfL Revenue €960-1,000mpreviously: €910-960m Adj. EBITDA >€250mpreviously: >€200m FCF before extr. items
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22 Appendix
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23 23 Note: For Group, Europe, MENA, Americas and Integrated Verticals, Revenues, adj. EBITDA, Gross Merchandise Value (GMV) as well as the respective growth rates are impacted by the Argentine and/or Turkish operations qualifying as hyperinflationary economies according to IAS 29.RC = Reported Currency / CC = Constant Currency / HI = hyperinflation.Like-for-like growth rates in green reflect the performance of the business on a comparable basis, excluding changes in the consolidation scope (acquisitions, disposals, country exits) as applicable, and are presented in constant currency, excluding theeffects of hyperinflation accounting. Difference between Revenue and the sum of segment revenues is mainly due to intersegment consolidation adjustments for services charged by the Platform businesses to the Integrated Verticals businesses. Delivery Hero KPIsPost HarmonizationQ1Q2H1Q3Q4FYQ1Q2H1Delivery Hero Group GMV 12,372.512,243.424,615.912,179.412,401.549,196.812,466.613,208.625,675.2% Y oY Growth (RC)5.0%2.9%3.9%-0.6%-3.3%0.9%0.8%7.9%4.3%% Y oY Growth (CC)6.7%7.3%7.0%4.5%3.6%5.5%8.3%11.9%10.1%% Y oY Growth (LfL)9.9%11.3%10.6%7.2%7.9%9.1%8.8%11.3%10.1%Revenue 3,390.33,489.36,879.53,530.13,649.914,059.63,727.74,024.57,752.2% Y oY Growth (RC)21.4%17.0%19.1%13.0%7.5%14.4%10.0%15.3%12.7%% Y oY Growth (CC)22.8%22.0%22.4%18.5%14.9%19.3%18.1%19.2%18.7%% Y oY Growth (LfL)24.9%25.3%25.1%19.5%17.7%21.7%17.8%17.7%17.8%Intersegment consolidation(215.3) (445.5) (270.2)Adj. EBITDA 410.7 903.0 426.7EBITDA Margin % (GMV) 1.7% 1.8% 1.7%EuropeGMV 2,385.22,422.74,807.92,345.22,540.09,693.22,512.12,596.05,108.1% Y oY Growth (RC)11.9%11.3%11.6%7.3%6.5%9.2%5.3%7.2%6.2%% Y oY Growth (CC)11.9%11.8%11.9%7.7%6.8%9.5%5.9%7.0%6.5%% Y oY Growth (LfL)19.7%18.1%18.9%13.4%10.9%15.4%6.8%8.4%7.6%Segment Revenue604.1617.81,221.9582.7652.12,456.7646.1661.91,308.0% Y oY Growth (RC)22.9%20.1%21.5%12.8%12.2%16.8%7.0%7.1%7.0%% Y oY Growth (CC)23.0%20.6%21.8%13.1%12.4%17.1%7.4%7.0%7.2%% Y oY Growth (LfL)24.9%22.0%23.4%13.7%13.0%18.1%8.3%8.4%8.3%Adj. EBITDA (50.8) (79.2) (18.6)EBITDA Margin % (GMV) (1.1)% (0.8)% (0.4)%MENAGMV 3,548.03,690.47,238.33,664.03,741.914,644.33,828.54,248.58,077.0% Y oY Growth (RC)29.2%16.5%22.4%14.3%0.9%14.2%7.9%15.1%11.6%% Y oY Growth (CC)29.4%22.2%25.5%20.2%8.3%19.2%17.4%17.8%17.6%% Y oY Growth (LfL)30.4%26.3%28.2%19.0%13.5%21.7%16.1%14.9%15.5%Segment Revenue910.6954.71,865.3949.9962.83,778.0954.61,077.12,031.7% Y oY Growth (RC)26.8%14.6%20.2%11.7%2.6%13.1%4.8%12.8%8.9%% Y oY Growth (CC)25.6%20.4%22.8%17.8%10.5%18.1%14.9%15.5%15.2%% Y oY Growth (LfL)26.2%22.7%24.3%17.1%13.5%19.5%14.1%13.8%13.9%Adj. EBITDA 256.2 546.0 252.0EBITDA Margin % (GMV) 3.5% 3.7% 3.1% 2026in €m 2025
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24 24 Q1Q2H1Q3Q4FYQ1Q2H1AsiaGMV 5,414.95,176.910,591.85,209.64,978.420,779.74,915.75,014.69,930.3% Y oY Growth (RC)-11.7%-9.0%-10.4%-12.6%-11.4%-11.2%-9.2%-3.1%-6.2%% Y oY Growth (CC)-8.4%-3.8%-6.2%-6.3%-1.4%-5.1%0.6%4.5%2.5%% Y oY Growth (LfL)-7.2%-2.4%-4.9%-3.3%1.5%-2.9%3.0%6.4%4.7%Segment Revenue981.71,034.52,016.11,072.21,019.34,107.61,025.21,063.22,088.5% Y oY Growth (RC)12.9%17.0%15.0%10.3%4.5%11.0%4.4%2.8%3.6%% Y oY Growth (CC)16.7%23.3%20.0%17.9%16.0%18.4%15.7%10.9%13.2%% Y oY Growth (LfL)17.5%24.6%21.1%19.1%17.2%19.5%16.8%11.2%13.9%Adj. EBITDA 176.3 333.1 148.3EBITDA Margin % (GMV) 1.7% 1.6% 1.5%AmericasGMV 1,024.4953.51,977.9960.61,141.24,079.61,210.31,349.42,559.8% Y oY Growth (RC)32.1%10.8%20.9%7.1%2.9%12.0%18.1%41.5%29.4%% Y oY Growth (CC)31.5%15.3%23.0%11.4%6.8%15.2%22.4%40.9%31.3%% Y oY Growth (LfL)45.1%29.7%36.8%19.4%16.9%26.5%18.1%29.1%23.6%Segment Revenue242.9228.4471.3231.3274.8977.4293.6325.3618.9% Y oY Growth (RC)36.0%13.4%24.1%9.0%6.6%15.0%20.9%42.4%31.3%% Y oY Growth (CC)35.4%18.3%26.4%13.7%10.9%18.5%25.5%41.7%33.3%% Y oY Growth (LfL)49.1%31.8%39.7%21.1%19.3%28.8%21.5%30.7%26.1%Adj. EBITDA 46.2 100.0 70.3EBITDA Margin % (GMV) 2.3% 2.5% 2.7%Integrated V erticalsGMV 826.6828.41,655.0858.7918.73,432.3991.71,092.02,083.7% Y oY Growth (RC)27.1%19.5%23.2%16.0%11.9%18.2%20.0%31.8%25.9%% Y oY Growth (CC)29.8%25.4%27.5%22.2%19.8%24.0%29.2%35.9%32.5%% Y oY Growth (LfL)32.1%30.6%31.3%23.7%24.8%27.5%27.8%32.3%30.1%Segment Revenue757.3762.91,520.2806.2858.93,185.3936.11,039.31,975.3% Y oY Growth (RC)21.1%16.9%19.0%20.0%14.8%18.1%23.6%36.2%29.9%% Y oY Growth (CC)23.8%22.6%23.2%26.1%22.5%23.7%33.0%40.2%36.6%% Y oY Growth (LfL)26.7%27.8%27.3%26.9%27.2%27.1%31.6%36.3%34.0%Adj. EBITDA (17.3) 2.9 (25.3)EBITDA Margin % (GMV) (1.0)% 0.1% (1.2)% 2026in €m 2025 Note: GMV in the Integrated Verticals segment is accounted for in the respective regional Platform segments. It is shown in the table above in the Integrated Verticals segment for illustrative purposes only. For Group, Europe, MENA, Americas and Integrated Verticals, Revenues, adj. EBITDA, Gross Merchandise Value (GMV) as well as the respective growth rates are impacted by the Argentine and/or Turkish operations qualifying as hyperinflationary economies according to IAS 29.RC = Reported Currency / CC = Constant Currency / HI = hyperinflation.Like-for-like growth rates in green reflect the performance of the business on a comparable basis, excluding changes in the consolidation scope (acquisitions, disposals, country exits) as applicable, and are presented in constant currency, excluding theeffects of hyperinflation accounting. Delivery Hero KPIsPost Harmonization
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25 25 Balance sheet (1/2)(in €m) Dec. 31, 2025Jun. 30, 2026CommentsIntangible assets 5,1705,000Property, plant and equipment801861 Investments in Dmart storesOther financial assets332427Fair value changes and new derivatives recognized in relation to the USD Term LoanOther assets 551547Deferred tax assets53 37Investments accounted for using the equity method10 0.1Non-current assets 6,9176,873Inventories 191231Trade and other receivables618631Other financial assets1 1Other assets 339365Income tax receivables33 48Cash and cash equivalents2,1132,697USD Term Loan, partly offset by the buyback and repayment of convertible bonds Assets of disposal group classified as held for sale- 91 Pending sale of Taiwanese businessCurrent assets 3,2934,064Total assets 10,21010,936
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26 26 Balance sheet (2/2)(in €m) Dec. 31, 2025Jun. 30, 2026CommentsShare capital/Subscribed capital298304Capital reserves 12,71512,851Retained earnings and other reserves(11,374)(11,932)Treasury shares (0)(0)Equity attributable to shareholders of the parent company1,6401,223Non-controlling interests154148Equity 1,7941,370Liabilities to banks1,5802,819New USD Term Loan Provisions for pension and similar obligations3441Other provisions 397404Trade and other payables322386Convertible bonds2,4471,953Reclassification to current liabilities and partial buyback of the Convertible Bond I (Tranche B)Other liabilities 16 18Income Tax liabilities31 12Deferred tax liabilities163143Non-current liabilities4,9905,774Liabilities to banks19 31Other provisions 458617Mainly for competition and antitrust-related risksTrade and other payables2,0852,267Convertible bonds56 6Repayment at maturity of Convertible Bond III (Tranche A) for nominal €56m in April 2026Other liabilities 516526Income tax liabilities293252Liabilities of disposal group classified as held for sale- 92 Pending sale of Taiwanese businessCurrent liabilities3,4273,792Total equity and liabilities10,21010,936
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27 27 (in €m) H1 2025H1 2026CommentsNet result (356)(359)Income tax expense85 69Income tax paid (129)(124)Amortization and depreciation230238Impairment of goodwill and other intangible assets10 1Increase (+) / decrease (–) in provisions(325)175Mainly for competition and antitrust-related risksNon-cash expenses from share-based payments126157Bad debt impairment, unrealized FX effects & other non-cash expenses8 71Gain (–) / loss (+) on disposals of non-current assets(1) –Gain (−) / loss (+) on deconsolidation(3) –Increase (–) / decrease (+) in receivables from payment service providers(125)(0)Increase (–) / decrease (+) in inventories, trade receivables & other assets43(139)Increase (+) / decrease (–) in restaurant liabilities6975Increase (+) / decrease (–) in trade and other payables488241Finance income (-) / expense (+)276130Cash flows from operating activities395535Higher operating cash flow driven by working capital; H1 ’25 includes a non-recurring €212m breakup feeProceeds from the disposal of property, plant and equipment5 2Payments for investments in property, plant and equipment(80)(55)Proceeds from disposal of intangible assets– 0Payments for investments in intangible assets(80)(85)Proceeds from divestments of other financial assets(0)(0)Net payments from loans to third parties(21)(0)Net payments for the acquisition of subsidiaries(28)–Net proceeds from sale of subsidiaries or discontinued operations0 0Payments for the acquisition of equity investments(5)(0)Interest received 37 29Cash flows from investing activities(171)(110) Cash flow Statement (1/2)
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28 28 Cash flow Statement (2/2)(in €m) H1 2025H1 2026CommentsPayments from settlement of share-based payments– –Payments for the acquisition of non-controlling interests– (24)Proceeds from bonds and borrowings7651,214Proceeds of USD Term Loan (2026)Payments of lease liabilities(76)(92)Repayments of loans and borrowings(1,638)(695)Partial buyback of Convertible Bond I (Tranche B) and repayment of Convertible Bond III (Tranche A)Interest paid (121)(132)Dividends paid (20)(37)talabat’s semi-annual dividends to non-controlling shareholdersCash flows from financing activities(1,091)233Cash and cash equivalents Net change in cash and cash equivalents(867)658Effect of exchange rate movements on cash and cash equivalents(134)1Cash and cash equivalents at the beginning of the period3,8092,113Cash and cash equivalents at the end of period1 2,8082,772 1. As of June 30, 2026, cash of € 74.4 million is included in a disposal group classified as held for sale.
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29 29 Strong cash position enhances financial flexibility Note:1. Includes KRW 794bn principal and US$ 1.3bn principal (at FX rates of 1,767.52 and 1.14, respectively, as of June 30, 2026) | 2. 2030 convertible bond has an investor put option in August 2028 | 3. Secured Overnight Financing Rate (SOFR) and Certificate of Deposit (CD) | 4. As of June 30, 2026, the RCF of €840m was utilized by way of ancillary guarantee and letter of credit facilities, which amounted to €405m; under those ancillary facilities, as of June 30, 2026, guarantees and letters of credit were issued in the amount of €374m. The RCF and the instruments issued under the ancillary facilities were fully undrawn as of June 30, 2026. | 5. Includes $1.4bn term loan due June 2032 allocated in March 2026 (at FX rate of 1.14 as of June 30, 2026). 1,616 6 750 500 1,000 1,226 H1 2026 2027 2028 2029 2030 20322 1 Cash (€bn)Debt maturity profile (€m)Comment §€2.8bn cash balance, after adding proceeds from March ’26 term loan transaction ($1.4bn) and deducting funds used for 2026 (€56m) and 2027 (€534m) converts repurchase§€2.26bn in outstanding convertible bonds, at a weighted average coupon of 2.4%§$2.7bn and KRW 794bn term loanswith a margin of SOFR / CD rate + 5.0%3 §Undrawn €840m RCF maturity extended from May ’28 to May ’294 2.8 Cash & cash equiv. end of H1 ’26 Convertiblebonds Term loans 5
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30 30 Harmonized Management-& IFRS-Reporting Reporting alignment and efficiency Align internal management reporting with external IFRS disclosure Enhance financial transparency and coherence Accelerate internal reporting cyclesInternalManagement ReportingCoherent DisclosureExternal IFRSDisclosure
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31 31 Key Highlights Higher transparency with limited impact on KPIs Main KPIs Impact Comment GMV No impact SEGMENT REVENUESRevenue reductions (vouchers, refunds) will be reflected as a direct deduction from Revenue instead of marketing expenses thereby having the Total Segment Revenues fully aligned with the IFRS Revenue as published in our half-year/annual reports.GROUP REVENUESNo impact GROSS PROFITGross profit harmonization is primarily achieved by a uniform Revenue definition, complemented by the reclassification of certain cost categories between Cost of Sales and other operating expenses. ADJ. EBITDA No impact FCF No impact Starting FY 2026 onwards, KPI disclosure in our Trading Updates will be aligned with the presentation used in the Half-Year Report and Annual Report, in accordance with IFRS. As a result, segment revenues will be presented net of revenue reductions, and certain costs will be reclassified within the P&L, consequently resulting in lower Gross Profit. GMV, Group Revenues, adjusted EBITDA and Free Cash Flow are unaffected by this change.
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32 32 Gross Merchandise Value (GMV) is the total value paid by customers (including VAT, delivery fees and service fees less other subsidies, such as voucher and other discounts). GMV excludes subscription fees, tips and delivery-as-a-service fees.Revenue is defined as revenue in accordance with IFRS 15. The difference between Revenue and the sum of the segments’ revenueresults from intersegment consolidation adjustments for services charged by the platform segments to the Integrated Verticals segment. (Effective January 1, 2026, the key financial performance indicator Total Segment Revenue has been fully harmonized with the “Revenue” presented under IFRS.)Adjusted EBITDA is defined as earnings from continuing operations before income taxes, financial result, depreciation and amortization according to management reporting, and non-operating earnings effects. Adjusted EBITDA includes group cost unless otherwise specified. Free cash flow (FCF) is defined as cash flow from operating activities, according to IFRS, less capital expenditures and paymentof lease liabilities. Capital expenditure encompasses payments for investments in (net of proceeds from disposal of) property, plant and equipment, as wellaspayments for investments in (net of proceeds from disposal of) intangible assets. Free Cash Flow excludes interest.Like-for-like growth rates reflect the performance of the business on a comparable basis, excluding changes in the consolidationscope (acquisitions, disposals, country exits) as applicable. Constant currency provides an indication of the business performance by removing the impact of foreign exchange rate movements. Due to hyperinflation in Argentina and Türkiye we have included reported current growth rates for Argentina and Türkiye in the constant currency calculation to provide a more accurate picture of the underlying business.AdTech refers to advertising revenues from restaurants, local stores and retail media.MENA revenues, adj. EBITDA, GMV, as well as the respective growth rates, are impacted by the operations in Türkiye qualifyingashyperinflationary economies according to IAS 29 (Türkiye: since June 2022).Americas revenues, adj. EBITDA, GMV, as well as the respective growth rates, are impacted by the Argentine operations qualifyingas hyperinflationary economy according to IAS 29 (Argentina: since September 2018). Integrated Verticals revenues, adj. EBITDA, GMV as well as the respective growth rates are impacted by operations in Argentina and Türkiye qualifying as hyperinflationary economies according to IAS 29. Definitions
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33 33 Investor Relations Contacts E-Mailir@deliveryhero.com Phone+49 (0)30 54 4459 105 Websiteir.deliveryhero.com Registered OfficeOranienburgerStraße70, 10117 Berlin, Germany Visit us on our social media channels