Slides
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Q3 2026. Sevenum , October 29, 2026 Earnings call presentation:
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2 Introduction. Business update. Financial update. Today’s agenda.
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Introduction. 3
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4 Peter Schmid von Linstow – why I joined Redcare. Former executive and entrepreneur at: AutoScout24 eBay Parship Visable (Alibaba) Scaling e - commerce businesses through strong teams, customer focus and technology CEO since October 14, 2026 Deputy Chairman of the Supervisory Board, April – September 2026 Driven by our purpose of improving people’s health, I am energized by: The market. The size and momentum of healthcare. Where Redcare stands. A strong foundation, market leader and a clear strategy. Growth opportunities. Built on 15 million satisfied customers. Driving digitalization. Being a driver of digital healthcare.
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5 Strong foundation, now we scale profitably. The foundation: 25 Years as an online pharmacy at our core 75+ NPS – customers love Redcare 15M Satisfied customers Highly professional teams Impressive logistics Now we scale: Improve execution and achieve excellence in e - commerce basics . Use t echnology and AI for better CX and lower cost. Focus on our key growth levers. Continue to s how that we can grow profitably. Our strategy: The one - stop pharmacy to capture the huge opportunity of e - Rx and digitalization in healthcare.
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6 Priorities for the next six months. 1 Listen and learn. Get to know suppliers, employees, insurers, associations and other stakeholders. 2 Continue to prioritize Rx growth. While exploring more growth levers for the future (i.e. Retail Media, Marketplace, Switzerland). 3 Enable the organization to scale. F aster decision making, clear priorities, technology and AI as levers for better CX and lower cost.
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Business update. 7
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8 Business highlights Q3 2026. 15M Total active customers (September*) +1.5M / 11% YoY +0.5M / 3% QoQ 1.9M Rx active customers (September*, Germany) +0.3M / 17% YoY +0.1M / 7% QoQ 56% Rx revenue growth (Q3, Germany) Vs. 58% in Q2 7 6 NPS (Q3, Group excl. MediService ) Voted no. 1 online pharmacy in Germany** *12 Month Rolling **Source: Online - Apotheken Studie 26/27, Smile AI
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Non - Rx YoY revenue growth Germany 2025 We continue to gain share in our Non - Rx business in Germany and have stopped the margin decrease. Source: Insight Health 9 2026 Q3 revenue growth of 9% implies significant share growth, not only in total market but also in online segment. Gross profit margin improved in Q3 1.6pp YoY and 0.6pp QoQ.
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Rx revenue development in Germany In Euro million and YoY growth (%) Growth of Rx Germany remained stable despite competition increasing its bonus. 10 2025 2026
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Rx average basket value (Rx revenue only, in Euro, excl. VAT) Rx Germany added 123k active customers in Q3 - almost doubling Q2 figures. Rx mixed order rate (percentage of orders*) Rx active customers (in thousands) * Percentage of Rx orders that include non - Rx items. ** NPS for e - Rx Stable 11 NPS** 69 NPS** 78
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Financial update. 12
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13 Financial highlights Q3 2026. We raised our guidance in September for the second time this year Continued strong revenue growth with 18% YoY. The gross profit margin decrease slowed down significantly. Significant increase in profitability with adj. EBITDA margin up 1.0pp YoY. We achieved a positive net income for the second consecutive quarter. We generated EUR 15M in cashflow.
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Rx growth Non - Rx growth Strong revenue growth of 18% in Q3 driven by Rx. +10% +56% constant FX: +11% 14 Total revenue growth +13% +8%
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DACH revenue grew 19% YoY with stable gross profit margin. +8% +31% 15 *Rx gross profit Germany ** Platform includes Marketplace and NOW! *** Country and MediService mix effects * ** *** YoY change in revenue YoY change in gross profit margin
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Margin expansion on track in DACH with 1.2pp improvement YoY of adj. EBITDA margin. 16 We grew 19% while cutting marketing spend. Continued operating leverage in Other S&D. Administration overhead is not yet scaling due to still high IT and consulting spend. DACH YoY change in adj. EBITDA margin
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In International, revenue growth slowed down in Q3 and Retail Media grew less than topline. YoY change in revenue YoY change in gross profit margin 17
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Margin expansion did therefore stall in International with a flat EBITDA margin YoY. 18 The leverage of S&D expenses and marketing efficiency continued to improve. We are reviewing our commercial strategy and will continue to use especially Retail Media and Marketplace to improve profitability. International YoY change in adj. EBITDA margin
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Group gross profit margin is down only - 0.3pp YoY, a significant improvement vs. Q2 ( - 1.7pp). Gross profit margin in percentage of revenue, pp change Gross profit margin in percentage of revenue, pp change * Platform includes Marketplace and NOW! ** Country and MediService mix effects * ** 19
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in Euro million / percentage of revenue Q3 2025 Q3 2026 Better or (worse) 9M 2025 9M 2026 Better or (worse) Revenue 719 847 128 2.146 2,550 404 Gross profit margin 22.1% 21.8% (0.3pp) 23.1% 21.6% (1.4pp) Marketing (5.9%) (4.9%) 1.0pp (7.1%) (5.4%) 1.7pp Other Selling & Distribution (11.1%) (10.8%) 0.3pp (11.2%) (10.8%) 0.4pp Administrative expenses (2.7%) (2.8%) (0.1pp) (2.8%) (2.6%) 0.1pp EBITDA margin (adj.) 2.4% 3.4% 1.0pp 2.1% 2.9% 0.8pp EBITDA (adj.) 17 29 12 44 73 28 EBIT (2) 12 14 (12) 21 32 Net income (7) 1 8 (10) (6) 4 Group adj. EBITDA margin is up 1pp to 3.4% as operating leverage more than offsets decrease of gross profit margin. 20
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C ash flow in Q3 was positive with EUR 15M driven by higher earnings and positive working capital impact. Working capital management continues to improve but the positive cash flow impact QoQ is driven by seasonality. Sevenum automation project : We have spent EUR 19M YTD and plan additional EUR 10M in Q4. A EUR 40M bank loan, secured by an asset pledge, has been obtained in October to fund this project. Cash flow: +EUR 15M 21 30 June 2026 30 Sept 2026 Cash and short - term financial assets EBITDA Change in working capital Investments in PPE & IFA Financing & Other Cash and short - term financial assets
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Looking ahead. 22 Current trading: October non - Rx growth is expected below 10% due to slow ramp of c ough - and - c old related sales. Profitability vs. growth: We continue with our strategy of more frugality whilst investing in new customers with high CLV. Guidance: We confirm our full - year 2026 guidance across all metrics and target a positive free cash flow in 2027.
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Q&A. The Q3 2026 Interim Statement is available on our website: https://ir.redcare - pharmacy.com/en/event - and - publication 23