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Earnings Update For the year ended 31 March 2025
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FY25 Financial Results2 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; (b) 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.
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FY25 Financial Results3 Strategy & Progress 1 Financial Results 2 Q&A 3 WELCOME! Our agenda
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FY25 Financial Results4 WE ARE BUILDING THE #1 LIFESTYLE ECOMMERCE COMPANY IN EUROPE, INDIA AND LATIN AMERICA UNLOCKING AN AI-FIRST WORLD FOR OUR 2B CUSTOMERS FY25 Financial Results4
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FY25 Financial Results5 VENTURES LISTED EUROPE INDIA CHINA LATAM Operating best in class regional ecosystems Creating the next $100B in value Our ecosystems are powered by Prosus’s Food, Fintech, Commerce & Experiences businesses Investing in new opportunities that enhance our ecosystems Note: Just Eat Takeaway has not yet closed.
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FY25 Financial Results6 Our culture is a critical driver of our success PEOPLEIMPACT INNOVATIONRESULTS ENTREPRENEURSHIP CONNECTION MANAGEMENT MODEL RITUALS KNOWLEDGE SHARING 30+ WORKSHOPS
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FY25 Financial Results7 AI Workforce The next wave of hiring is AI workers AI Agents, Large Commerce Models We are building a unique foundation for Prosus Ecommerce Re-invent Ecommerce The next Ecommerce is agentic, personal, ecosystem We are re-imagining Ecommerce through AI and Innovation
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FY25 Financial Results8 20+ Investments in AI-native startups $7.8B M&A in the past 12 months1 ... Making trade-offs to focus our portfolio ... Backing innovation in AI companies Investing to enhance our ecosystems $2.6B Proceeds in the last 12 months We are actively managing our regional portfolios with discipline 1 Includes Despegar, which closed in May 2025, capital committed to Just Eat Takeaway that has not yet closed. Others
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FY25 Financial Results9 3.8 4.3 4.5 5.5 6.2 FY21 FY22 FY23 FY24 FY25 We are growing our revenue rapidly Consolidated Ecommerce Revenue ($’B) 1 Growth in local currency excluding M&A. 18% Average organic growth rate % from FY21 to FY251
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FY25 Financial Results10 (413) 38 443 800+ FY23 FY24 FY25 FY26¹ $1.2B IMPROVEMENT IN 3 YEARS We are shifting our profits from millions to billions Consolidated Ecommerce aEBIT ($’M) 1 $800M+ is based on guidance provided and includes Despegar from May 2025.
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FY25 Financial Results11 29% 27% 24% 22% 21% 16% 16% 12% 11% 9% Our open-ended buyback programme is the largest of any Tech company 1 As of 30 May 2025, Prosus based on net buyback relative to free float shares. Companies selected from S&P 500, Stoxx 600, Hang Seng and JSE All Share i ndices. Period for each company reflects the period closest to Prosus’ repurchase period of 28 June 2022 to 30 May 2025 based on available data. Based on shares outstanding as at start of the rele vant periods closest to the start of the Prosus buyback in June 2022. Our largest investment is in the future of Prosus Buyback as % of shares outstanding1
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FY25 Financial Results12 GOALS RESULTS We are following through on our commitments Results: moving from millions to billions Hit & exceeded Ecommerce revenue & aEBIT goals Strengthened ecosystems with M&A Invested $7.8B1 into our regional ecosystems and AI Disciplined & active portfolio management Made trade-offs, continued open-ended buyback Change the culture: innovation & speed More communication, AI first and accountability 1 Includes Despegar, which closed in May 2025, and Just Eat Takeaway, which has yet to close. 2 Refers to PayU GPO’s Africa and LatAm businesses. PayU GPO’s European business has yet to close. Achieved revenue growth of 21%, exceeded aEBIT goal by 11% ($43M) 100% increase in dividends…and maintaining momentum for FY26 Despegar closed, JET in progress Exited Trip.com & PayU GPO2, reduced Udemy & Remitly stake, IPO-ed Swiggy “Prosus Way” management model
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FY25 Financial Results13 WE ARE JUST GETTING STARTED!
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FINANCIAL RESULTS 2
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FY25 Financial Results15 21% Ecommerce revenue growth. 2x faster than our peer group1 $443M Ecommerce aEBIT and delivered positive Group aEBIT2 100% increase in dividend declared5 $513M free cash flow improvement – 1st year of FCF positivity ex-Tencent3 59% Core HEPS growth – earnings enhanced by 36% reduction in share count14 FY25 Financial Highlights 1 Over five years through the open-ended buyback, and the cash buybacks during FY20, FY21 and FY22
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FY25 Financial Results16 2,039 2,442 2,556 2,911 2,963 3,207 18% 16% 16% 22% 26% 17% -100% -80% -60% -40% -20% 0% 20% 40% H1 FY23 H2 FY23 H1 FY24 H2 FY24 H1 FY25 H2 FY25 1 Proforma for the change in revenue recognition for iFood to reflect a like-for-like comparison. Growth in local currency excluding M&A. 2 Peer group includes listed companies across the Food Delivery, Classifieds, Payments & Fintech, Etail and Edtech industries (list of peers available in glossary). Source: Company information, Bloomberg. Financials calendarised as of March 31st year end. Sustained revenue growth Quicker than peers 10% 10% 10% 16% 19% 21% FY23 FY24 FY25 Peers² Prosus Ecommerce¹ CONSOLIDATED PORTFOLIO Revenue ($’M) & Revenue Growth (%)1 +2x Revenue growth outpaced our peers 2x …
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FY25 Financial Results17 Significantly improved Ecommerce profitability Ecommerce aEBIT1 ($’M) $800M+ Consolidated Ecommerce aEBIT target for FY262 (256) (157) (36) 74 181 262 H1 FY23 H2 FY23 H1 FY24 H2 FY24 H1 FY25 H2 FY25 $443 aEBIT for FY25 … and profit continues to improve meaningfully aEBIT of $443m, ahead of guidance and more to come $1.2B Improvement over 3 years (FY23 – FY26) 1 In April 2024, the Group centralised operational corporate functions which resulted in costs previously recognised in Ecommerce now being incorporated within the Group’s corporate segment. No retrospective adjustments have been made. 2 Guidance for FY26 includes Despegar from May 2025.
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FY25 Financial Results18 Core restaurant business has an industry leading margin 28% FY25 aEBIT margin3,4 1 Highest monthly orders for each calendar year. 2 Growth in local currency excluding M&A. 3 Relates to the Restaurant Food delivery business. 4 Adjusted for the impact of the changes in revenue recognition and changes in the composition of the iFood Group. 5 Adjusted to excludes OLX Autos and the OLX Auto’s financing business. 32% FY25 YoY GMV growth2 Very strong GMV growth Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Mar-25 ARPD 31% YoY 23% YoY 27% YoY Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Mar-25 ARPA 22% YoY 17% YoY 12% YoY Ave. Monthly Revenue per Professional Dealer ($) Ave. Monthly Revenue per Professional Agent ($) Monthly orders1 (M) iFood achieves +120m monthly orders in March 20% growth in aEBIT Margins in 2 years5 29M FY25 App MAU 1.8M FY25 Paying listers 64M FY25 Active listings 31% YoY 17% YoY Our key operating businesses continue to deliver…. 1 3 6 13 27 48 65 74 89 115 122 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
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FY25 Financial Results19 iFood exceeded growth and profitability targets 1 Growth in local currency excluding M&A. 2 Adjusted for the impact of the changes in revenue recognition and changes in the composition of the iFood Group. 958 973 1,012 971 1,073 1,126 1,237 1,267 1,413 1,480 1,621 1,620115 174 214 242 224 214 221 253 262 300 332 321 500 700 900 1100 1300 1500 1700 1900 2100 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Food Delivery New initiatives Revenue (BRL’M)2 31% FY25 Revenue growth1,2 17% FY25 aEBIT margin2 2.4x FY25 aEBIT growth2 aEBIT (BRL’M)2 (207) (73) (80) (63) 39 74 219 143 265 272 433 326 -19% 17% -25% -20% -15% -10% -5% 0% 5% 10% 15% 20% 25% (300) (200) (100) 0 100 200 300 400 500 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25
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FY25 Financial Results20 116 116 122 131 156 162 169 170 191 198 194 194 19% 33% 40 60 80 100 120 140 160 180 200 220 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 9 Loved Brands >90% brand awareness in all brands Revenue ($’M) & aEBIT Margin (%)2,3 18% FY25 Revenue growth3 OLX grew core categories strongly and expanded margins 1 Proforma to exclude the OLX Autos and the OLX Auto’s financing business. 114 126 150 152 H1 FY24 H2 FY24 H1 FY25 H2 FY25 Motors1 24% FY25 YoY revenue growth Real Estate1 59 62 73 74 H1 FY24 H2 FY24 H1 FY25 H2 FY25 23% FY25 YoY revenue growth Revenue (US$’m) Margin (%) 40% 37% 46%² 47% 31% 25% 33%² 30% Revenue (US$’m) 1 Motors and real estate categories reflect performance from both the vertical and horizontal platforms. ² Margin updated based on reallocation of OLX head office costs between verticals. 3 Proforma excluding the OLX Autos and the OLX Auto’s financing business.
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FY25 Financial Results21 PayU India revenue ($’M)1 24% FY25 YoY revenue growth1 -7% FY25 aEBIT margin PayU grew revenue strongly and improved margins 1 PayU India includes the core payments business in India and the Indian Credit business. Growth in local currency excluding M& A. 99 119 127 137 127 127 159 138 149 170 175 175 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 +3p.p. 2H25 YoY aEBIT India Payments margin improvement
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FY25 Financial Results22 12% FY25 YoY revenue growth1 eMAG achieves FY25 profitability target 1 Growth in local currency excluding M&A. Revenue ($’M) 431 412 638 447 449 481 756 520 554 577 795 530 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 eMAG Group hit guidance of Profitability in FY25 aEBIT margin (%) (4%)(4%) (0%) (4%) (3%) (2%) 1% (2%) (0%) (1%) 1% 2% Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25
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FY25 Financial Results23 FCF grew strongly driven by improved profitability … Incremental FCF from continuing operations, YoY ($’M)1 1,037 (40) (45) 356 242 524 FY24 Cash from operations Capex Tencent & other dividends Tax FY25 1 FCF (Free cash flow) is defined as aEBITDA less adjustments for non-cash items, working capital (excluding merchant cash), taxation, capital expenditure, capital leases repaid and investment income. To report a more sustainable and relevant indicator of our FCF generation, from FY24 we excluded specific merchant cash-related working capital. $513M Improvement YoY
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FY25 Financial Results24 FCF1 excluding Tencent dividend ($’M) (948) (814) (235) 36 FY22 FY23 FY24 FY25 … leading to the first ever period of positive FCF ex-Tencent $984M Improvement in 3y 1 FCF (Free cash flow) is defined as aEBITDA less adjustments for non-cash items, SBC, working capital (excluding merchant cash), taxation, capital expenditure, capital leases repaid and investment income. To report a more sustainable and relevant indicator of our FCF generation, from FY24 we excluded specific merchant cash-related working capital. Prior periods have been adjusted to reflect like-for-like.
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FY25 Financial Results25 5 6 6 7 10 20 27% 0% 9% 43% 100% -43% -23% -3% 17% 37% 57% 77% 97% 117% - 5 10 15 20 25 FY21¹ FY22¹ FY23¹ FY24 FY25 FY26² Our dividend has increased 100% YoY 1 Dividend per share paid in FY21, FY22 and FY23 have been adjusted for the cross-holding unwind in September 2023 to reflect like-for-like. 2 Declared and will be paid in November 2025. YoY Growth Prosus dividend per share (€ cents)
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FY25 Financial Results26 10.2 7.0 15.3 HoldCo Cash Committed to JET & Despegar deals at 31 March 2025 HoldCo Debt ($’M) 8.6% LTV Based on gross debt2 3.8 Interest cover3 Investment Grade BBB (S&P) / Baa2 (Moody’s) 3.2% Average cost of debt 3X 3-year debt maturity & interest service cover4 758 1,001 165 190 74 4 FY24 FY25 iyzico iFood OLX Tencent dividend 923 1 269 37% YoY Increasing & diversifying dividends to HoldCo 1 Cash includes short-term cash investments, debt includes all interest-bearing debt and excludes all finance leases. Despegar deal closed in May 2025. 2 Internal calculation for LTV (Loan to Value): Gross debt / (Gross cash + listed assets + 50% unlisted assets) at 31 March 202 5. Rating agencies use Net debt / cash for their calculations. 3 Calculations for interest cover: (Dividends from investments and cash to holdco + interest received – holdco operating costs) / holdco interest for the trailing 12 months ended 31 March 2025. 4 Liquidity cover ratio takes account of the cash committed to M&A announced prior (but not yet closed) to the end of March 202 5, including Despegar (closed in May 2025) and Just Eat Takeaway. Balance sheet strength amplified by diversifying cash flows Net cash1 of US$1.9B at 31 March 2025 ($’B) We remain committed to an Investment Grade rating
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FY25 Financial Results27 Open-ended buyback 66 67 68 72 73 75 76 Prior to buybacks FY21 FY22 FY23 FY24 FY25 FY26 to date 1 NAV per share prior to buyback based on NAV on 30 May 2025 adjusted for Tencent shares sold during open -ended buyback and cash used during buybacks in FY21 and FY22. Assumption that NAV was unchanged except for the impacts of the buyback on number of Tencent shares owned and cash held. 2 Total capital returned through the open-ended buyback, and the cash buybacks during FY20, FY21 and FY22 of both Prosus and Naspers. 3 1.1B Prosus and 67m Naspers shares repurchased. Shares repurchased prior to the share capitalisation issue have been adjusted to reflect like-for-like. 4 29% of Naspers free-float was repurchased and this translates to a 18% NAV accretion per share for Naspers. Impact of all buybacks to date Illustrative NAV per share ($)1 Our buyback creates value every single day … TOTAL ACCRETION +10%+8% +14% Value bought ($’B) 10 7 9 +15% 2.2 +3%+1% 64 Metrics include open-ended buyback and cash buybacks during FY20, FY21 and FY22 $50B Capital returned2 1.2B Prosus & Naspers shares acquired3 36% of Prosus free-float repurchased4 15% NAV accretion per share4
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FY25 Financial Results28 In summary, we are: Results focused 1 Delivering growth & profitability 2 Investing in our ecosystems 3 Accelerating with innovation and AI 4 5 Creating value for investors
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Join us in London in two days!!!
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APPENDIX 01 FY25 Group Consolidated Results Results of Associates and JV’s Debt metrics Portfolio return Group Portfolio & Glossary 02 03 04 05
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FY25 Financial Results31 FY24 FY25 Consolidated Ecommerce results from continuing operations Ecommerce Revenue Growth1 19% 21% Ecommerce aEBITDA2,3 $316M $655M Ecommerce aEBITDA Margin 6% 11% Ecommerce aEBIT3 $38M $443M Group results from continuing operations Group aEBITDA2,3 $228M $484M Group aEBITDA margin 4% 8% Group aEBIT3 ($118M) $179M Core Headline Earnings $5.0B $7.4B Core HEPS YoY Growth 96% 59% Free Cash Flow $524M $1B Central Cash $14.6B $17.2B FY25 Financial Highlights 1 Revenue percentages represent YoY growth in local currency, excluding M&A. 2 aEBITDA definition has been updated to exclude all share based compensation expenses (SBC). aEBITDA represents operating profit adjusted for depreciation, amortisation, SBC, non-operating items such as business combination expenses and gains and losses from other assets. 3 In April 2024, the Group centralised certain operational corporate functions which resulted in certain costs previously recognised in Ecommerce now being incorporated within the Group’s corporate segment. No retrospective adjustment have been made. Financial Summary▪ Ecommerce revenue growth grew more than 2x faster than our peer group ▪ $513M free cash flow improvement – 1st year of FCF positivity ex-Tencent ▪ Central cash position remains strong even after $7B of M&A post end of FY25 ▪ Ecommerce aEBIT beat guidance, and delivered a positive Group aEBIT ▪ Core HEPS up 59% driven by Ecommerce and Tencent, and enhanced by share buyback For better comparability to global peers, we’re additionally adopting aEBITDA excluding SBC to illustrate our operating business profitability going forward 1. FY25 Group Consolidated Results 2. Results of Associates & JV’s 3. Debt metrics 4. Portfolio return 5. Group Portfolio & Glossary
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FY25 Financial Results32 524 1,037 FY24 FY25 228 484 FY24 FY25 FCF4 ($’M)Consolidated Group aEBITDA2,3 ($’M) 5.5 6.2 FY24 FY25 Peer-leading revenue growth with improved margin Strong Revenue Growth Improved Free Cash Flow 1 Growth in local currency excluding M&A. 2 In April 2024, the Group centralised operational corporate functions which resulted in costs previously recognised in Ecommerce now being incorporated within the Group’s corporate segment. No retrospective adjustments have been made. 3 aEBITDA definition has been updated to exclude all share based compensation expenses (SBC). aEBITDA represents operating profit adjusted for depreciation, amortisation, SBC, non-operating items such as business combination expenses and gains and losses from other assets. 4 FCF (Free cash flow) is defined as aEBITDA less adjustments for non-cash items, SBC, working capital (excluding merchant cash), taxation, capital expenditure, capital leases repaid and investment income. To report a more sustainable and relevant indicator of our FCF generation, from FY24 we excluded specific merchant cash-related working capital. Prior period numbers have been adjusted to reflect this change. Consolidated Group revenue ($’B) Positive Group aEBITDA 21% YoY1 $297M Improvement YoY $513M Improvement YoY Positive Group aEBIT Consolidated Group aEBIT2 ($’M) (118) 179 FY24 FY25 $256M Improvement YoY 1. FY25 Group Consolidated Results 2. Results of Associates & JV’s 3. Debt metrics 4. Portfolio return 5. Group Portfolio & Glossary
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FY25 Financial Results33 +31%2 +16%+12%+24%+18%3 FY25 YoY Revenue Growth1 aEBIT margin4 6% 17% FY24 FY25 Driven by strong performance from core business units 1 Growth in local currency excluding M&A. 2 Proforma for the change in revenue recognition and the composition of the iFood Group. 3 Excludes the OLX Autos financing business which is winding down. In 2H25, OLX deprioritised Pay & Ship in Europe and planned exits from non -strategic markets and businesses to better focus on core activities. These measures resulted in a deceleration in revenue growth from 20% in 1H25 to 16% in 2H25. 4 In April 2024, the Group centralised operational corporate functions which resulted in costs previously recognised in Ecommerce now being incorporated within the Group’s corporate segment. No retrospective adjustments have been made. 25% 35% FY24 FY25 (6%) (7%) FY24 FY25 (2%) 0% FY24 FY25 (66%) (19%) FY24 FY25 aEBITDA margin4 11% 19% FY24 FY25 33% 40% FY24 FY25 (1%) (3%) FY24 FY25 2% 3% FY24 FY25 (43%) (8%) FY24 FY25 1. FY25 Group Consolidated Results 2. Results of Associates & JV’s 3. Debt metrics 4. Portfolio return 5. Group Portfolio & Glossary
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FY25 Financial Results34 Strong growth and profitability performance from iFood 1 Growth in local currency excluding M&A. Proforma for the change in revenue recognition and the composition of the iFood Group. 2 Includes grocery, fintech initiatives (including receivables product previously in core Food Delivery), and corporate costs for iFood. 3 In April 2024, the Group centralised operational corporate functions which resulted in costs previously recognised in Ecommerce now being incorporated within the Group’s corporate segment. No retrospective adjustments have been made. Revenue1 ($’M)aEBIT3 ($’M) Consolidated Food Delivery 67 218 FY24 FY25 207 306 FY24 FY25 174 214 FY24 FY25 (140) (88) FY24 FY25 iFood Brazil core Food Delivery Continuing New initiatives2 31% YoY 17% margin 30% YoY 28% margin 33% YoY 39pp YoY margin improvement 1,140 1,294 FY24 FY25 966 1,080 FY24 FY25 126 248 FY24 FY25 216 313 FY24 FY25 (90) (65) FY24 FY25 19% margin 29% margin 22pp YoY margin improvement aEBITDA3 ($’M) 1. FY25 Group Consolidated Results 2. Results of Associates & JV’s 3. Debt metrics 4. Portfolio return 5. Group Portfolio & Glossary
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FY25 Financial Results35 656 777 FY24 FY25 OLX experienced strong growth and enhanced margins 1 Excludes the OLX Autos financing business which is winding down. In 2H25, OLX deprioritised Pay & Ship in Europe and planned exits from non-strategic markets and businesses to better focus on core activities. These measures resulted in a deceleration in revenue growth from 20% in 1H25 to 16% in 2H25. 2 Growth in local currency excluding M&A. Revenue from continuing operations1 ($’M) aEBIT from continuing operations ($’M)1 166 270 FY24 FY25 18% YoY2 35% margin 215 313 FY24 FY25 40% margin aEBITDA from continuing operations ($’M)1 1. FY25 Group Consolidated Results 2. Results of Associates & JV’s 3. Debt metrics 4. Portfolio return 5. Group Portfolio & Glossary
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FY25 Financial Results36 Strong revenue growth & cost efficiencies drive improved profit 1 Payments & Fintech includes PayU India, Iyzico, RDP and PayU GPO. 2 Growth in local currency excluding M&A. 3 PayU India includes the core payments business in India and the Indian Credit business. 4 GPO excluding iyzico and Red Dot Payments. GPO’s LatAm and African businesses were sold in February 2025 and are included for 11m in FY25. GPO’s European business disposal has not closed yet. Revenue2 ($’M)aEBIT ($’M) Consolidated Payments & Fintech1 (31) (11) FY24 FY25 230 330 FY24 FY25 (14) 21 FY24 FY25 34% YoY 2pp YoY margin improvement 24% YoY -7% margin 23% YoY 1,106 1,339 FY24 FY25 551 669 FY24 FY25 11 24 FY24 FY25 (3) 31 FY24 FY25 -3% margin aEBITDA ($’M) Turkey & Other India3 5% margin (8) (23) FY24 FY25 (32) (44) FY24 FY25 1. FY25 Group Consolidated Results 2. Results of Associates & JV’s 3. Debt metrics 4. Portfolio return 5. Group Portfolio & Glossary 325 340 FY24 FY25 15 12 FY24 FY25 22 16 FY24 FY25 86% YoY 12pp YoY margin improvement GPO4 4% margin 10pp YoY margin improvement 1pp YoY margin improvement
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FY25 Financial Results37 2,206 2,457 FY24 FY25 1,361 1,581 FY24 FY25 392 270 FY24 FY25 453 605 FY24 FY25 eMAG Romania drives good growth and profit improvement Consolidated Etail Romania (35) 10 FY24 FY25 1 Growth in local currency excluding M&A. 2 Other regions include mainly Hungary, Bulgaria. New initiatives include mainly Freshful and Sameday, and Tazz, which was sold during FY25. 3 In April 2024, the Group centralised operational corporate functions which resulted in costs previously recognised in Ecommerce now being incorporated within the Group’s corporate segment. No retrospective adjustments have been made. 40 58 FY24 FY25 Other regions2 (25) 2 (10) FY24 FY25 (50) (40) FY24 FY25 New Initiatives2 Once-off Restructuring costs (18) Revenue1 ($’M)aEBIT3 ($’M) 12% YoY 2pp YoY margin improvement 18% YoY -29% YoY 30% YoY 38 84 FY24 FY25 aEBITDA3 ($’M) 3% margin 4% margin 3pp YoY margin improvement 4pp YoY margin improvement 1. FY25 Group Consolidated Results 2. Results of Associates & JV’s 3. Debt metrics 4. Portfolio return 5. Group Portfolio & Glossary 5% margin 5pp YoY margin improvement 3pp YoY margin improvement 53 81 FY24 FY25 2 18 (10) FY24 FY25 (17) (5) FY24 FY25 8
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FY25 Financial Results38 98 115 FY24 FY25 Edtech grew steadily with a profitability step up Turnaround measures drive robust growth and loss reduction 1 Growth in local currency excluding M&A. 2 In April 2024, the Group centralised operational corporate functions which resulted in costs previously recognised in Ecommerce now being incorporated within the Group’s corporate segment. No retrospective adjustments have been made. Steady revenue growth and profitability improvement Revenue1 ($’M) aEBIT2 ($’M) (57) (22) FY24 FY25 50 55 FY24 FY25 Revenue1 ($’M) aEBIT2 ($’M) (8) (2) FY24 FY25 17% YoY 39pp YoY margin improvement 12% YoY 12pp YoY margin improvement aEBITDA2 ($’M) (45) (9) FY24 FY25 aEBITDA2 ($’M) 1 4 FY24 FY25 1. FY25 Group Consolidated Results 2. Results of Associates & JV’s 3. Debt metrics 4. Portfolio return 5. Group Portfolio & Glossary 38pp YoY margin improvement 5pp YoY margin improvementz
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FY25 Financial Results39 7 370 5 003 341 1 876 175 (25) FY24 Improved profit from consolidated businesses Increased contribution from Tencent Reduced losses from other associates Other, predominantly interest received FY25 Ecommerce & Tencent performance drives strong core HE 1 Core Headline Earnings is regarded by management as an appropriate indicator of the operating performance of the Group, as it adjusts for non-operational items. The share buyback further amplified core earnings to 59% growth on a per share basis 47% YoY Incremental Core HE1 from continuing operations, YoY ($’M) 1. FY25 Group Consolidated Results 2. Results of Associates & JV’s 3. Debt metrics 4. Portfolio return 5. Group Portfolio & Glossary
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FY25 Financial Results40 156 264 48 53 (55) 158 FY24 AI, inflation, once-off restructuring costs & other Cost optimisation FY25 Corporate costs in total reduced on realignment to new organisation Corporate cost including group and operational corporate functions, aEBIT level, YoY ($’M) In April 2024, the Group centralised certain operational corporate functions which resulted in $55m of costs previously recognised in Ecommerce being incorporated within the Group’s corporate function. No retrospective adjustments have been made. 1. FY25 Group Consolidated Results 2. Results of Associates & JV’s 3. Debt metrics 4. Portfolio return 5. Group Portfolio & Glossary 314 312 -1p.p. Decrease as % of revenue Group corporate function Operational corporate functions (included in Ecommerce)
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FY25 Financial Results41 $’M Ecommerce ▪ Food Delivery ▪ Classifieds3 ▪ Payments & Fintech ▪ Etail ▪ Edtech ▪ Other Corporate Consolidated Results Consolidated results from continuing operations | Includes the results of subsidiaries, where the Group has a majority stake Adjusted EBIT1Adjusted EBITDA1,4Revenue FY24 FY25 YoY % Growth2 5 467 6 170 21% 1 222 1 334 31% 707 788 18% 1 106 1 339 34% 2 206 2 457 12% 148 170 16% 78 82 41% - - 5 467 6 170 21% 1 In April 2024, the Group centralised operational corporate functions which resulted in costs previously recognised in Ecommerce now being incorporated within the Group’s corporate segment. No retrospective adjustments have been made. 2 Growth shown in local currency excluding M&A. Food Delivery growth is proforma for the change in revenue recognition and the composition of the iFood Group. 3 Classifieds growth shown excluding minor OLX Autos revenues of a finance business which is winding down. 4 The group has changed its definition of adjusted EBITDA related to the treatment of its share -based compensation benefits to improve comparability to peers. This change has been applied retrospectively. FY24 FY25 FY25 Margin 316 655 11% 126 248 19% 222 314 40% 11 24 2% 38 84 3% (64) (14) (8%) (17) (1) (1%) (88) (171) 228 484 8% FY24 FY25 FY25 Margin 38 443 7% 67 218 17% 172 273 35% (31) (11) (1%) (35) 10 0% (98) (33) (19%) (37) (14) (17%) (156) (264) (118) 179 3% Group Consolidated Results 1. FY25 Group Consolidated Results 2. Results of Associates & JV’s 3. Debt metrics 4. Portfolio return 5. Group Portfolio & Glossary
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FY25 Financial Results42 aEBITDA reconciliation to aEBIT 443 (114) (92) (6) 655 aEBITDA¹ SBC Depreciation & Amortisation Other aEBIT 1The aEBITDA definition has been updated to exclude all share based compensation expenses (SBC). aEBITDA represents operating profit/loss adjusted for depreciation, amortisation, SBC, non-operating items such as business combination expenses and gains and losses from other assets. To be more directly comparable to global consumer internet peers, we’re adopting aEBITDA excluding SBC to illustrate our operating business profitability going forward Ecommerce aEBITDA to aEBIT FY25 ($’M) 1. FY25 Group Consolidated Results 2. Results of Associates & JV’s 3. Debt metrics 4. Portfolio return 5. Group Portfolio & Glossary
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FY25 Financial Results43 Tencent sustained high quality growth Tencent gross profit (RMB’B)1 Tencent operating profit (RMB’B)1,2 45 46 56 49 59 58 61 59 69 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 68 71 77 78 84 86 89 91 100 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 20% YoY 18% YoY Focused on high quality growth businesses Operating margin2 improved to 38.5% YoY A Leader in Gen AI research and deployment Committed to share repurchases in 2025 of at least HK$80B Earnings model & strategic AI investment drive continued improvement in fundamentals 1 Financial details according to Tencent’s financial reports available at www.tencent.com. Equity-accounted investments are included on a 3-month lag basis in Prosus’s results. % represents YoY growth for the quarter ended 31 March 2025. 2 Operating profit reported on a non-IFRS basis, which reflects Tencent’s core earnings. 1. FY25 Group Consolidated Results 2. Results of Associates & JV’s 3. Debt metrics 4. Portfolio return 5. Group Portfolio & Glossary
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FY25 Financial Results44 (769) (57) (26) (410) (277) (39) (9) (278) Tencent Delivery Hero Skillsoft Remitly Other FY24 FY25 Improved profitability across all our associates and JV’s 2,810 5,703 Share of equity accounted profit 1 Average FX conversion rates: Tencent - US$/RMB7.21 (7.18); Delivery Hero – US$/€0.93 (0.92). 2 Growth shown in local currency excluding M&A. Associates share of equity accounted results1 ($’M) +2x YoY2 6 306 4 072 1. FY25 Group Consolidated Results 2. Results of Associates & JV’s 3. Debt metrics 4. Portfolio return 5. Group Portfolio & Glossary
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FY25 Financial Results45 (182) - (25) (246) (151) 8 (7) (128) Tencent Delivery Hero Skillsoft Remitly Other FY24 FY25 Tencent drives higher contribution to core HE by associates and JV’s Associates’ contribution to core headline earnings1 ($’B) 4,934 6,985 Contribution to core HE 1 Average FX conversion rates: Tencent - US$/RMB7.21 (7.18); Delivery Hero – US$/€0.93 (0.92). 42% YoY 7 263 5 387 1. FY25 Group Consolidated Results 2. Results of Associates & JV’s 3. Debt metrics 4. Portfolio return 5. Group Portfolio & Glossary
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FY25 Financial Results46 $’M FY24 FY25 Cash remitted to/generated at Holdco level: Tencent dividend 759 1 001 Classifieds portfolio 165 190 iFood - 74 iyzico - 4 Interest income earned on central cash 817 831 Total inflows 1 741 2 100 Commitments: Holdco – operating costs (140) (239) Available for interest/dividends 1 601 1 861 Holdco interest cost (12 months) (486) (485) Interest cover1 3.3 3.8 Gross Loan to value (LTV)2 12.3% 8.6% Net Loan to value (LTV)3 0.6% - Strong debt metrics with long-dated bond maturities Debt metrics 1 Interest cover calculated as cash available for interest and dividends / annual holdco interest costs. 2 Gross LTV = Gross debt/(market value of listed assets + 50% of market value of unlisted assets + holdco cash) at 31 March. Pro-forma for Despegar and Just Eat Takeaway, the gross LTV was 8.8%. 3 Net LTV = Net debt/(market value of listed assets + 50% of market value of unlisted assets + holdco cash) at 31 March. Pro-forma for Despegar and Just Eat Takeaway, the net LTV was 3.3%. 4 Bond maturity profile shown after accounting for the settlement of $225m of bonds in June 2025. Bond maturity profile4 ($’B) (0.5) (5.5) (5.3) (3.8) <2 years 2 - 5 years 6 - 10 years Over 20 years 1. FY25 Group Consolidated Results 2. Results of Associates & JV’s 3. Debt metrics 4. Portfolio return 5. Group Portfolio & Glossary
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FY25 Financial Results47 Defined capital structure guidelines inform our decisions Investment Grade Rating 1 Interest Coverage Ratio = cash for interest and dividends less holdco cost / Annual holdco interest costs. 2 Liquidity = cash + undrawn committed financing facilities. Holdco Cashflow (ICR)1 Loan to Value Liquidity2 vs. Debt Maturities Maintain an ICR of at least 1.0Sustainable targets Maintain a gross debt to value of maximum 10% Maintain sufficient liquidity to cover 3 years of interest costs and debt maturities Debt maturities in a single year < 20% of total gross debt Interest Coverage Ratio A ratio of 1 or higher over a 12-month period We should on a sustainable basis be in a position that our interest costs per annum are serviced by our holding company cash flow and that we are not financing our interest costs by adding more debt. While our balance sheet allows significant flexibility to absorb short term fluctuations in any one of these metrics, we have outlined the rationale for our sustainable guidelines below: Loan to Value An LTV ratio below 10% This allows us more flexibility on interest cover and liquidity which we consider to be key at the moment. With an ICR sustainably above 2x we may consider increasing LTV to 15%. Liquidity position 3 years A liquidity position that covers Debt Servicing for the following 3 years gives a healthy buffer to pay interest and debt maturities through economic cycles. 1 2 3 1. FY25 Group Consolidated Results 2. Results of Associates & JV’s 3. Debt metrics 4. Portfolio return 5. Group Portfolio & Glossary
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FY25 Financial Results48 IRR improvement is a priority NAV ($’B) and IRR (%)1 of Ecommerce portfolio $50 $28 $31 H1 FY22 H2 FY24 H2 FY25 18% IRR 5% IRR4% IRR 28 - 13 29 22 16 23 14 28 20 (29) 15 (32) (46) 50 24 6 (23) 11 2 (25) (60) (40) (20) - 20 40 60 India LatAm Europe Edtech Listed assets Other Ventures ElasticRun Meesho PharmEasy Eruditus Stack Overflow Skillsoft Swiggy PayU India iFood Despegar OLX Brazil OLX Europe Iyzico eMAG Takealot EMPG OfferUp IRR by entity (FY25) Note: Selection of disclosed investments are investments primarily based on valuation, 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 31 March 2025; (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. Th e IRR is calculated including exited assets. 2 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. Acquired in May 2025 so no IRR to report yet 1. FY25 Group Consolidated Results 2. Results of Associates & JV’s 3. Debt metrics 4. Portfolio return 5. Group Portfolio & Glossary Tencent2 Remitly Meituan2 Delivery Hero
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FY25 Financial Results49 Food Delivery Etail Edtech Ventures Group portfolio companies Managed and controlled entities 99%1 23% 96% 27% 26%2 88% 100% 13%38% Classifieds 13% 100% 100% 100% 19% 24% 100% 100% Local SA assets Payments & Fintech 37% 100% 70% 11% 11% 15%42% 12% 43% Ecommerce Social & internet platforms 100% 1. FY25 Group Consolidated Results 2. Results of Associates & JV’s 3. Debt metrics 4. Portfolio return 5. Group Portfolio & Glossary Organogram depicts the latest effective interest percentage in major entities at 31 March 2025. 1 OLX owns 50% of operations in Brazil. 2 Fully diluted interest percentage in Swiggy is 24.8%.
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FY25 Financial Results50 Glossary Consolidated Results | Results of subsidiaries only, companies which the Group controls. Free cash flow | aEBITDA less adjustments for non-cash items, SBC, specific non-operational working capital, taxation, capital expenditure, capital leases repaid and investment income. Core HEPS | Core Headline Earnings is a non-IFRS measure and represent headline earnings for the period excluding certain non-operating items and is an appropriate indicator of the operating performance of the Group. aEBITDA | aEBITDA represents operating profit/loss adjusted for depreciation, amortisation, SBC, non-operating items such as business combination expenses and gains and losses from other assets. In FY25, aEBITDA definition has been updated to exclude all share based compensation expenses (SBC). aEBIT | Adjusted EBIT represents operating profit/loss adjusted for non -operating items such as business combination expenses, gains and losses from other assets and remeasurements of cash settled share -based compensation liabilities. SBTi | Science Based Target initiative IG | Investment grade, a reference to the rating on debt ARPD / ARPA | Average monthly revenue per professional dealer / Average monthly revenue per professional agent Peer Groups Food delivery | Deliveroo, Delivery Hero, DoorDash, Eternal, GOTO, Grab, Just Eat Takeaway, Meituan, Uber Classifieds | Auto Trader, Hemnet, REA Group, Rightmove, Scout24 Payments & Fintech | Adyen, Affirm, Block, Dlocal, Global Payments, Nuvei, PayPal, Worldline Etail | Alibaba, Allegro, Amazon, Asos, Boohoo, Etsy, JD.com, Mercadolibre, Vipshop, Zalando Edtech | Chegg, China Yuhua, Coursera, Niit, Pearson, Skillsoft, Udemy, 2U 1. FY25 Group Consolidated Results 2. Results of Associates & JV’s 3. Debt metrics 4. Portfolio return 5. Group Portfolio & Glossary
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