#1Capital Markets Event 2023 deliveroo#2Definitions & basis of discussion References to profitability in this presentation are to adjusted EBITDA unless otherwise stated. Adjusted EBITDA represents loss for the year before income tax charge/credit, finance costs, finance income, depreciation and amortisation, impairments, exceptional items and provisions, and share-based payments charge and national insurance on share options. Adjusted EBITDA is considered to be a measure of the underlying trading performance of the Group and is used, amongst other measures, to evaluate operations from a profitability perspective, to develop budgets, and to measure performance against those budgets. Growth rates are year-on-year and in reported currency unless otherwise stated. Constant currency growth rates adjust for period-to-period local currency fluctuations; the Group uses constant currency information because the Directors believe it allows the Group to assess consumer behaviour on a like-for-like basis to better understand the underlying trends in the business. Deliveroo ended operations in Australia and the Netherlands on 16 November 2022 and 30 November 2022, respectively, and in Spain on 29 November 2021; all three markets are treated as discontinued operations. To provide a better understanding of performance for the ongoing operations, analysis of the Company's results in this presentation is on a 'continuing operations' basis, which excludes results from Australia, the Netherlands and Spain for current and comparative periods, unless otherwise stated. 2#3Agenda Welcome Restaurant Grocery Retail The delivery experience Q&A Break Deliveroo Plus Advertising Financial framework Customer experience Wrap up Q&A Breakout demos Will Shu Carlo Mocci Eric French Eric French Camilla Kater Emma Simmonds Adam Bishop Scilla Grimble Will Shu Will Shu Dan Winn + team 3#4Welcome WILL SHU#5Mid-teens GTV growth in the medium term 4%+ adjusted EBITDA margin by 2026 5#6Who we are 6#7We are consumer obsessed We are operators We are innovators We are relentless 7#8Today's presenters Carlo Mocci Restaurant Eric French Retail and Grocery Emma Simmonds Adam Bishop Advertising Deliveroo Plus Camilla Kater The delivery experience Scilla Grimble Financial framework Dan Winn Breakout demos 8#9Restaurant CARLO MOCCI#10Substantial growth opportunity across our country portfolio Online food marketplaces penetration 2-3x Early stage markets Further developed markets Source: Euromonitor International Ltd; Foodservice from Consumer Foodservice 2023 edition, Foodservice Value RSP, GBP million, y-o-y ex rates, current terms. Online food marketplace penetration of total food service France adults (m) 5 OO 43 UK adults (m) Early stage markets 9 11 Italy adults (m) Further developed markets 31 44 Never used Deliveroo Used, but not in L12M Used in L12M but not in L1M Used in L1M Sources: Company data. World Bank estimates for adult population (>19 years old) by market. 10#11Investments and actions are prioritised at a hyperlocal level 1 2 CVP For each neighbourhood... What is our performance? Market Share Demographics What is the potential value? Profitability Merchant types Topography/ Network density 3 Where do we focus our resources? 4 What are the levers to improve our CVP? Availability Brand Selection Price Consumer Experience 11#12We have the most-loved restaurant brands across all markets UK Nando's wagamama Cialis DISHOOM FROM BOMBAY WITH LOVE UAE FIVE GUYSⓇ BURGERS and FRIES zaatar w zeit SALT DURAI 2014 Allo BEIRUT ال وبيروت Italy Roadhouse RESTAURANT MATREM bakery All'antico Vinaio mi La Calabria in un panino! BERBERE Pizzeria LIEVITO MADRE DAL 2010 Hong Kong 譚 13 雲南米線 PIRATA Nha Trang Authentic Vietnamese Cui スシロー so MOS BURGER France -DS Bouillon PIGALLE MEZZE MEZZE & CORE GRILL LIVIO Più FRESCO & QUALITA CAFÉ le petit cambodge Alibert 12#13We use data science to identify and sign the best restaurants 1 Identify new restaurant leads Ingestion of multiple data sources Increase in restaurants Figures based on 2021-2023 internal data on restaurant sites 2 Prioritise high potential leads ML model assigns a predictive score High Medium Low 3 Sign high- priority leads Sales team focused on best leads This has helped us to curate a high quality restaurant portfolio in the UK +24% 2.5x +54% Increase in high quality restaurants 4 Targeted investment Commercial and operational levers to enhance CVP GMV from higher-scored vs. lower-scored leads 13#14Consumer trust is the key to unlock food delivery growth Consumer trust Delivery experience Was this flawless? Price integrity Are the prices fair? 14#15Improving speed and reliability drives consumer satisfaction We are faster... Global average order duration 2022 Note: YTD figures for 2023 -1 min 2023 ...and more reliable... Global defective orders 2022 -10% 2023 ...leading to more satisfied consumers Global Net Promoter Score (NPS) Oct-22 Jan-23 Apr-23 +11 ppt y/y Jul-23 Oct-23 15#16Price integrity complements direct levers to provide value to consumers Direct levers Loyalty programme deliveroo plus Targeted promotions £9 off your next order Deliveroo Challenge Indirect levers Commercial architecture Value Programme DELIVEROO'S CHOICE 16#17Our commercial architecture aligns incentives to improve consumer outcomes Deliveroo commercial architecture Commercial and marketing investment in return for better performance Transparent and standardised within segments Cascaded incentives to the franchisee and store level Accelerated growth Consumer Trust Service & value EI Aligned incentives 17#18Our Value Programme incentivises restaurants to provide better service and value to our joint customers Price integrity Consumer ratings Service levels High Value for Money Low Increasing menu page traffic Dedicated merchandising Dedicated offers Reduced visibility Potential offboarding after warning 19:41 Delivery New O Current location QRustaurants, grociles, stars All Restaurants Com Featured Introducing Deliveroo's Choice Great prices, fantastic service and high On quality - look out for our new badge, awarded to top restaurants that offer the very best value. Spend £20, get off Code 30FFTMOD A Let's go 10-20 ♥ Bread & Truffle *4.8 Excellent £2.99 delivery 8 up & S You 5.00 Boots Sort Indian Hygiene rating Y Offers 160 restaurants Top-rated dishes under £10 Samosa Papdi Silka Urban Indian £6.50 Masala Dosa Hawkers' Kitchen £8.99 Dietary Chai Guys Sponsored 4.9 Excellent (368) 20-35 min 0.9 miles away Mildreds *4.7 Excellent (500+) 30-45 min 1.8 miles away Spend £25, got 20% off Roti-Dal Curr Hawkers' Kitch £8.99 ♡ Arcade Food Hall Sponsored 4.5 Excellent (500+) (300 35-55 min 1.7 miles away Spend (15, get 20% off Silka Urban Indian 18#191 We operate in big addressable markets with significant growth potential across the entire portfolio Key takeaways 2 We use data science to deliver on a hyperlocal level at scale 3 We believe that winning consumer trust is the key to accelerate category growth 4 We align commercial incentives to improve the consumer experience and drive growth 19#20Grocery ERIC FRENCH#21In 2018 we pioneered the on-demand model... The Weekly Shop £90+ Next day scheduled >20,000 SKUS Full basket Traditional Online Initial Launch EN OR AMSTER nel On-Demand Grocery REAL HAND COOKED SEA SALT caste Up to £20 On-demand <1,000 SKUs Alcohol, tobacco, snacks Deliveroo Model "Small Baskets" Up to £30 On-demand ~3,000 SKUS Milk, fruit, eggs, bread → 21#22... and have built a very large business already Grocery GTV H2 2019 H1 2020 Note: 2019 and 2020 GTV numbers not restated for market exits H2 2020 H1 2021 H2 2021 H1 2022 H2 2022 11% H1 2023 22#23Building the business required relentless focus and selective investments Large Grocers Partner Technology Independents Consumer Technology Customer Acquisition Operational Excellence Leverage existing Tech Stack, Store-Pick Model, Customer Base, and Rider Network 23#24On-demand grocery continues to take share Grocery TAM is large and online is continuing to take share Total Grocery¹ ~£600bn Online Grocery¹ ~£35bn Deliveroo Grocery GTV (2022) £0.7bn Not to Scale On-demand expected to be an increasing part of online grocery Share of online grocery in the UK food-at-home market² On-demand delivery Scheduled delivery 1% 12% 2021 2% (1) Source: Statista (https://www.statista.com/outlook/cmo/food/worldwide). Figures are the 2023 combined market and online share of market for each of Deliveroo's markets. (2) Source: McKinsey - The State of Grocery Retail 2022. 15% 2030 Low 4% 19% 2030 Mid 7% 23% 2030 High 24#25Grocery has strong unit economics and broader benefits for the platform Grocery economics only slightly behind restaurant, and both have improved FY21 Source: UKI gross profit per order (£) Restaurant Grocery FY22 Powerful synergies with core platform Frequency Incrementality +0.5 orders per month Grocery orders are incremental +40% more orders Customers acquired through grocery place more orders Retention +4ppt Retention Grocery & restaurant users have higher retention than restaurant only Source: Internal analysis of selected experimental cohorts; markets covered are the UK, France, Italy, Hong Kong and UAE; results are indicative and may not apply to the entire population/all cohorts → 25#26We will drive growth by serving more customer missions... On-Demand Grocery Small Baskets Hongen-Da Up to £30 On-demand ~3,000 SKUS Focus To Date Mid-Sized Baskets £30-£60 On-demand Up to 10,000 SKUS Expansion Opportunity Mid-Sized Baskets Key Enablers Range expansion Customer-facing tech Partner-facing tech Operational excellence → 26#27...and by offering better value 1 2 3 CA pepsi Higher AOV Network Efficiencies FMCG Advertising Margin Expansion + Reinvest Unit Economic Improvement Into Growth 27#281 We have built a large on-demand grocery business, serving a clear customer need Key takeaways 2 On-demand grocery offers a large growth opportunity, with attractive unit economics 3 We will serve more on-demand customer missions over time by moving into larger baskets 4 We have multiple profitability levers which we will at times choose to reinvest into growth 28#29Retail ERIC FRENCH 29#30Retail is a natural extension of our marketplace Riders Consumers Our Marketplace Merchants Restaurants Groceries + Retail Energizer Simple whiskas BURTS 30#31Grocery has given us a framework for this extension Large Retailers Partner Technology Independents Consumer Technology Customer Acquisition Operational Excellence Leverage existing Tech Stack, Store-Pick Model, Customer Base, and Rider Network 31#32Internal and external signals give us high conviction Search Insights 71k Monthly searches for pet products +76% YOY searches for home accessories 320k Monthly searches for beauty & personal care Customer Research "With DIY you don't want to wait for it to come the next day - I want it now so I have to go out to a DIY store" "I would definitely order - it would probably work out cheaper than driving somewhere and then not finding what I need" Partner Feedback "I am always being asked in store and in person for my website, or where people can order from me online, so I am very excited to be able to say you can find me on Deliveroo!" Gift Shop, Central London Sales £40k Apple AirPods sold in Q3 Source: Internal global search data. "Monthly" figures calculated as an average from January-August 2023. YoY search compares August 2022 vs. August 2023, unless otherwise specified 1.4m Packs of toilet paper sold YTD £250k Sales of flowers in October (+280% YoY) 32#33We also see a large opportunity based on industry data Retail TAM is large and online continues to take share Total Retail¹ ~£700bn E-Commerce² ~£110bn Not to Scale "The No. 1 thing global consumers would change about online shopping is faster delivery."³ (1) Source: Euromonitor International; Retail 2023 edition, Retail including Retailer categories included: Apparel and Footwear Specialist, Appliances and Electronics Specialist, General Merchandiser, Home Products Specialist, Leisure and Personal Goods Specialist, Other Non-Grocery Retailer and excluding groceries, Retail Value RSP including Sales Tax, GBP million, y-o-y ex rates, current terms. (2) Source: Euromonitor International; Retail 2023 edition, Retail including Retailer categories included: Apparel and Footwear Specialist, Appliances and Electronics Specialist, General Merchandiser, Home Products Specialist, Leisure and Personal Goods Specialist, Other Non-Grocery Retailer and excluding groceries, Retail Value RSP including Sales Tax, GBP million, y-o-y ex rates, current terms (3) The Future Shopper Report, 2023, Wunderman Thompson 33#34As with Grocery, we envisage a shift from urgent missions to more generalised "convenience" over time Grocery Retail "Emergency Needs" "I'm having a party and I've run out of beer and ice" "I've realised it's my brother's birthday today and I haven't got him anything" "I'm covered in sawdust doing DIY and need a different screwdriver" On-demand "Everyday Convenience" "I don't worry about my weekend shop in advance. I just Deliveroo some pasta, eggs, and bacon 1 hour before carbonara time" "I need to buy an adapter at some point before my trip to Paris, but I'm too busy right now. Deliveroo means I don't have to worry about getting one until the morning I leave" "I want to brighten up the house - I'll see what's in the homeware section on Deliveroo" → 34#35We will prioritise categories based on consumer demand WALTHAM STEED Pedigree TENDER GOODNESS INGREDIENTS Grocery Non-Food Household, Pet, Baby 15 Pusto PARACETAMOL EXTRA 500mg/65mg TABLETS PARACETAMOL, CAFFEINE EFFECTIVE PAIN RELIEF RELIEVES PAIN AND FEVER EASY TO SWALLOW Pharmacy Pain Relief, Cough & Cold, Cosmetics Flowers Bouquets, Table Arrangements, Dried Flowers MONOPOLY The Fast-Deing Property Trading Gm 8 50 Toys Children's Toys, Board Games, Party Supplies Acry Positive Energy. Acry Homeware Candles, Crockery, Cutlery DIY 144v Tools, Decorating, Screws & Nails 19 Electronics Chargers & Cables, Headphones, Speakers 35#36We are rapidly growing our Retail selection Range Extensions Morrisons Since 1899 Morrisons ★ 4.8 Excellent (500+) 0.50 miles away Free delivery Closes at 21:30 £10.00 minimum FInfo Deliver in 10-20 min Lego €21.50 Explore Lego Speed Champions Lam... Lego Duplo Number Train Set £20.00 Shop by category a Categories Change > Lego Super He Thanos Marve £14.50 Independents Not-Another-Bill - Notting Hill Shopping 1.10 miles away Opens at 08:00 plus Free delivery on orders over £10 Info Map, allergens and hygiene rating Browse by category Top Games Picks For the Jetsetter Baby & Kids Bestsellers Personalised Wooden Hampers Celebrations! Emergency celebrations! Large Retailers 19:41 Good afternoon Current location v Q Restaurants, groceries, stores Home Gifts Health and pharmacy Restaurants Groceries Electronics Beauty and toiletries Popular brands SCREWFIX Screwfix *4.8 Excellent 0.7 miles Gift stores Baby and child Spend £20 Get 20% off selected items 10-20 min Pet 8 Shopping Toys and games Home and Cleaning and kitchen laundry Strepsil Boots 4.9 Excelle 0.6 miles 36#37A brand new in-app experience: Discoverability & Awareness 19:41 Good evening Current location ✓ Q Restaurants, groceries, stores Home Gifts Restaurants Pharmacy Electronics Boots Flowers Brand Academy Groceries Beauty and toiletries Big Brand Stores View all (11) Baby and child Boots 4.8 15-30 min Free Delivery Brand Academy 4.9.20-35 min £1.99 delivery ♡8 C - Shopping Pet Pa Toys and Clean games lau BELDI MAIS ZAPF 24/7 10-20 min Deliveroo HOP with Morrisons 4.7 Excellent (500+) 0.1 miles £2.99 delivery We now deliver the shops you love FEN MAKE-UP S View shopping Brand A ★4.8 Ex 0.3 miles 1 500 000 Simp TR MAXX MIRACLE TOUCH 37#38A brand new in-app experience: Search 19:41 ← All AA Batteries Sainsbury's All results "AA Batteries" 10x DURACELL £3.99 Restaurants Duracell AA batteries 4x HOP Sainsburys 20-30 min 10x £3.99 DURACELL 10-20 min Duracell AA batteries 4x Grocery DURACELL Deliveroo HOP Duracell AA batteries 10x £5.99 SIMPL Duracell AAA batteries 10x £4.50 ail Shopping AAAB SIMPLY QUALITY Duracell AAA batteries 10x £4.50 DURACELL Duracell AA batteries 10x £5.99 19:41 AA DURACELL 10x MAI MULT Duracell AA batteries 4x Pack of 4 Duracell offers a wide range of batteries to be used in electronics that require reliable power. Duracell Plus Power AAA batteries are multi-purpose alkaline batteries ideal for reliably powering everyday. • Duracell Plus Power 4 Pack of AA batteries Long Lasting Power Guaranteed with Duracell. Plus Power AA Batteries. These Batteries give reliable performance and long-lasting power. • Long Lasting Power Guaranteed • Designed for long lasting performance • You Can Trust Duracell O 1 ✪ Add to basket - £3.99 38#39A brand new in-app experience: Browse 19:41 Good evening Current location ✓ Q Restaurants, groceries, stores Home Gifts Pharmacy Restaurants Groceries ELC Flowers Electronics Big Brand Stores View all (11) Geekay GEEKA4.8-15-30 min Free Delivery ELC Beauty and toiletries Baby and child 4.9-20-35 min Tavola AED 4.50 delivery Up to 50% off TAVOLA 4.8.15-30 min Free Delivery Pet Toys and games 3 Shopping 3 8 Par Cleanin laun 19:41 Toys and games Q Stores, brands or products Geekay Digital & Consoles 30-50 min FREE FIRE Free Fire Diamond Pins... AED 49.00 FOKIN Wooden 35mm vintage toy camera with kaleidoscope AED 200.00 MINECRAFT Minecraft Game Card AED 119.00 My Backyard Chronicles 10-20 min Wooden tools set AED 100.00 Early Learning Centre 10-20 min all GAME Online Gaming Made t Gocash Game Card $20 AED 74.00 →>> Wooden goose push toy AED 50.00 19:41 Q Stores, brands or products Flower Maral Gifts White Flowers in a Vase AED 279.00 Flowers 4.8 (500+)-20-40 min 20% off selected items AED 360.00 Lilac Romance flowers of joy Aiwa Flowers AED 339.00 4.6 (500+) 30-45 min 50% off selected items Rainbow AED 260.00 all ? Flower and Chocolate flo AED 369.00 Pink Heart AED 660.00 39#40A brand new in-app experience: Give A Gift 19:50 Gifts Explore gifts to shop now, or send straight to someone's door Sending to someone else? F Portugese Sardines Print £18.99 CARDS GALER Not Another Bill 10-20 min Change to gift address HAPPYE AGO 2 Fabric Speaker £54.99 Cards Galore 30-40 min HAPPY BIRTHDAY 1 LAMY Pens £15.99 19:50 X Estimated arrival 19:50-20:05 Thanks for your order! You'll see the updates here along the way Edit order Delivery 1 Cousin Lane, London, EC4R 3TE "Please call me when you arrive" Order help Let them know their gift is on the way! Share the order tracker so they don't miss their gift. Your order Not Another Bill Order #342 Place 2 more orders to get £8 off EView receipt > 19:50 <12 Deliveroo Aditya typing... Today deliveroo Hey! I've sent you something on Deliveroo! Track the order and lookout for your delivery here: all? 19:50 PM Ohh, thanks Aditya, I thought you had forgotten! 19:50 PM ✔ LP $ O LP 203 >> AA $ Ⓡ } deliveroo.co.uk Fl LP SH Open gift from Aditya В в 3 D 8 D A DH O → 40#41Retail has strong unit economics and represents a GTV opportunity in the region of £700m by 2028 Retail unit economics expected to be between Restaurants and Grocery Restaurant Retail Grocery In the region of £700m (2028 GTV) 41#421 We will deploy our Grocery playbook to build on-demand Retail Key takeaways 2 There is clear consumer appetite for on-demand Retail and we are positioned well to capitalise on the opportunity 3 We have already started to execute against this with partners and our in-app experience 4 We will build a large business with attractive unit economics 42#43The delivery experience CAMILLA KATER#44The delivery experience is at the heart of everything we do SANOMINA It is key to building consumer trust Defect Reduction It drives our biggest cost line Delivery Efficiencies GROWTH & MARGIN 44#45Defect reduction#46Eliminating defects is hard, but we're uniquely well placed to go after this opportunity Our culture + Our engagement with merchants & riders + Our tech & processes + Our logistics model 46#47We reduced OMDNR by 65%, driving both savings and customer satisfaction 125 100 75 50 25 0 Jan Feb All values indexed Mar Apr May Jun Jul Aug Sep Customer Satisfaction OMDNR Occurrence Rate Compensation Cost per Order 47#48Delivery efficiencies#49We're reducing delivery costs whilst improving the consumer and rider propositions 5000 S8 FAX TOE January 2020 Consumer Experience - Merchants Available January 2021 January 2022 (1) Earnings per Hour measured by Time On Order Rate January 2023 190 1166 1120 January 2020 Delivery Costs - Delivery Cost per Order January 2021 January 2022 м January 2023 590 192 10 January 2020 Rider Earnings¹ Earnings per Hour wwww.. January 2021 January 2022 January 2023 49#50There are still lots of opportunities to drive smart savings Win-win savings Positive impact on consumer/rider/merchant experience "Do no harm" savings Neutral impact on consumer/rider/merchant experience → 50#51We're reducing rider wait times, a win-win which drives savings and benefits the whole marketplace Tap the tag to check in Helle M Hold 14 kantaso th up the Mode e sheh naked on your he www n Mayba Rider New signals Riders, CHECK IN HERE CHECK IN AQUI | YAHAN CHECK IN KAREIN deliveroo Having trouble? If you can't check in, tap the Help icon in the Rider app. If you think there's a problem with this tag, let staff know. 19:30 Food Busy mode deliveroo You're now accepting Deliveroo orders on your own system You can stop using this device now that our systems are connected. If you experience issues accepting orders through your own system, you can return to this device. Alternatively, you can contact your Tech provider for support. + Merchant incentives Commercial architecture + Value Programme 51#52We're creating new capabilities to reduce costs without trading off the consumer or rider experience G Multi pick-up stacking Smarter stacking AI Generative Al Grocery and Retail Smarter merchandising 3:49 B Search Work Q Restaurants, groceries, dishes Home Restaurants Grocery Pizza Hut Delivery 4.5 Excellent (500+) 1.8 miles Offers near you Spend £30 Add a free item Ⓒ'Tasty food Lunen ke an Italian LUNCH SPECIALS FROM £7.95 Pasta Evangelists * 4.6 Excellent (500+) 0.7 miles ALL 25-45 min 15-30 min Offers deliveroo Gourmet 4.7 Exc 0.4 miles Spend £20 Add a free ite Deliveroo Byron Bu *4.6 Exc 1.3 miles Our superfast HOP supermarket 52#531 We're going after defects to drive growth and margin Key takeaways 2 We're reducing delivery costs whilst maintaining strong consumer and rider propositions 3 We're uniquely placed thanks to our relentless focus on operational excellence 4 We have a strong track-record in this space and we will continue to deliver 53#54Deliveroo Plus EMMA SIMMONDS#55Our Plus story so far In 2017 we were the first food delivery player to launch a subscription service 55#56Plus has delivered strong results 3X More spend 40% Order volume 56#57Plus has 2 tiers designed for different target customers 19:41 58 % Silver Deliveroo Plus Gold £7.99/month Unlimited free delivery On orders over £10.00, at great restaurants and stores Gold On-time promise Get £5.00 credit if your order arrives later than expected Discounted fees Save on every order with lower service fees Earn rewards Make 3 orders at the same place to get £8.00 off your 4th Exclusive offers Join Plus for £7.99/month all Plus Gold > > > > 19:41 35 % Silver Deliveroo Plus Silver £3.49/month Gold Unlimited free delivery On orders over £25.00, at great restaurants and stores. Discounted fees Save on every order with lower service fees Earn rewards Make 3 orders at the same place to get £8.00 off your 4th Exclusive offers Get exclusive offers at a changing range of restaurants and stores Join Plus for £3.49/month Plus Silver > > > 57#58Case Study Hong Kong 尾燈 生活者調5% 外幾自取低至75 力加入 deliverooplus 1蚊1MONTH 單單免運費 1蚊1MONTH 單單免運費 外賣自取 低至 J deliverooplus 75 1x1MONTH 生活百貨 95折 75 |價95折 第75折 新定義!用 $1/月費*加入 Deliveroo Plus! 月免運費 zeroo.hk/zh/plus | deliverop.hk/zh/plus B 立即加入 發達啦工 D 0:04/0:15 Flam/ACDellvirco Plus JAZEEMTUARISTOPHADE MIERIT deliveroo plus M.1 MONTH deliveroo plus Plus 會員專享 外賣自取 低至75折 生活百貨 5 58#59Member benefits vary by tier and can be targeted by market Hong Kong Programme Pricing Benefits Monthly subscription fee Free delivery threshold Service fee Restaurant rewards Restaurant-led offers Grocery discount Pick Up discount Enhanced service Gold HDK98 HKD100 5% off 2.5% capped 5% off Exclusive restaurant stamp cards Silver Monthly exclusive restaurant offers from top brands & local favourites On time promise: HKD25 credit >15 mins late HKD58 HKD250 59#60Plus drives behaviour change leading to positive economics Plus Gold Profit before joining Plus Free trial period Delivery & service fees + Subscription fee + cremental orders c.1.3x Profit after joining Plus Figures are based on global data and show the difference in projected 12 month profit pre and post joining Plus Gold, for a cohort of customers who joined Plus Gold in Q3 2022. Results are indicative and may not apply to the entire population/all cohorts 60#61We see wider benefits to Deliveroo from our Plus Gold customers 117% more likely to try a new to platform restaurant* deliveroo 46% more likely to order grocery* PARACETAMOL EXTRA 500mg/65mg TABLETS PARACETAMOL, CAFFEINE EFFECTIVE PAIN RELIEF RELIEVES PAIN AND REVER EASY TO SWALLOW 124% more likely to order pharmaceuticals* Estimated arrival Around 08:15 Waiting for TGI Fridays to confirm your order. Edit order Delivery Tracking not available Your order will be delivered by TGI Fridays. You can contact them if you need help. Call restaurant 20 Cousin Lane, EC4R3TE Order help That's food sorted, but what will you watch? itvx YOU & ME 54% more monthly ad profit** * Figures are using global data and compare the % difference in Plus Gold customer behaviour with each category vs non-Plus customer behaviour over 4w period between 25/09 - 22/10 for users with 2+ orders ** Figures are using global data and compares the % difference in ad profit driven per Plus Gold customer vs a non-Plus customer, out of users with an ad click over last 3 months and 2+ orders in month Results are indicative and may not apply to the entire population/all cohorts → 61#62How we'll grow the Plus programme Enhanced savings Finding new ways to ensure our Plus customers always save more, for example, through discounts and perks - funded by us or partners Ideliveroo students 62#63How we'll grow the Plus programme Segmentation We know so much about our Plus customers, we will keep innovating by designing targeted propositions that deliver on our users' needs 4:41 Delivery Your order has been delivered We're sorry it arrived later than expected. We're looking into it and will work on improving for next time. a Order help Claim £5 credit for this late order deliverooplus Claim £5 credit We're sorry your order arrived later than expected. You're covered by the Plus On-Time Promise, so you can claim £5 credit up to 24 hours after it was delivered. Once claimed, we'll apply the credit automatically to your next order, and you'll have 30 days to use it. T&Cs apply. X 63#64How we'll grow the Plus programme Partnerships Continue to grow the programme through partnerships across our markets amazon Revolut O gojek HKT 64#651 Plus members have compelling financial and retention characteristics Key takeaways 2 We see plenty of growth for Plus penetration, through: - Value - Segmentation - Partnerships 3 We are uniquely placed to capitalise on this opportunity: - 6+ years experience - Strong user demographics - Tiered programme 4 And as a result, we will be a Plus-first business by 2026 65#66Advertising ADAM BISHOP#67Why are advertisers excited about our platform? 16:41 1 Now Station Road ✓ Q Restaurants, groceries, dishes Home % Entire menu discounts CO-OP Order again Chinese 4.7-15-30 min Offers available Spend £20 Get 10% off M Restaurants Groceries- Shopping Featured Paid placements from our partners China Magic 1.4 miles You rated this 1/5 +. соо op³ what we Indian Supermarket Convenient stores all 64 20-30 min 雅 SZ off this month's China Magic 4.4-20- Spend £20, ge Meal deals Ruba Resta 4.8 Excelle 0.2 miles 13:14 Delivery Now do Angel pl It looks like your delivery address doesn't match your current location. Restaurants Meal deals Rewards Grocery 0.3 miles away NANNY BILL'S BURGERS 4.7 Excellent (500+) ££ Featured Paid placements from our partners 15-30 S From 20% off selected items HOP Morrisons Our superfast superme 0/0 Offers 15-25 min ♡ 8 Spend £20 Got 20% M. MANZ 4.6 Exc 0.5 miles a Spend E15 Get 20% deliveroo Sponsored ENGLAND FRANCE MAR NEW SIZE GUINNESS Guinness Draught in Can 4X536ml GDuinness 0% only. Ende 13.02.23. 18+.Drinlcresponsibly Subject to Avalability. T&Cs apply Learn more 19:41 外送馬上 eb 現在位置v Q:餐廳、生活百貨,菜式 生活百貨 30 再次下訂單 Franco Manca 20-40 ★ 你的評分 5/5 戶戶送最受歡 迎餃子 $ 52 一按即可 馬上落單 →>> 肉 馬上查看所有餐廳選擇? 其他人的訂單 戶戶送獨家 甜品 8 E The goo 20-40 ★ 你的 deliveroo PP18 附近餐廳推介 最高評分 | 最新餐廳 所有優惠 喵EDITIONS餐廳 送 奧樂蜜C飲品 Cold and flu remedies delivered fast Relief this way → O -30% sur votre menu PAUL Avec une boisson Fuzetea オロナミン с Lucozade Boots PARACETAMOL PA/65mg TABLETS CAFFEINE TWEETHE PAN EUR N maintenant 67#68Our platform is exciting for advertisers 7m Monthly Active Consumers 183k Restaurant & Grocery Sites 299m Orders in 2022 We have a large premium consumer user base and proprietary technology powering our advertising solutions allowing us to serve the most relevant content for our consumers resulting in strong advertiser returns 68#69Our consumers offer a high intent, high repeat and high disposable income audience Professionals Prioritise convenience around their busy lifestyles, have high purchasing power and consider time as value Families Families with kids, but maintain a social life roo DATO stic A CASA TUA. THE WI VOS RESTOS PRE PER Care's أسهل ل مجاني High Potentials Future high- spending power 69#70The advertisers we service are broadening as we grow and add new categories ar Restaurants deliveroo Grocers On platform today ca-Co ZERO SUGAR NO CALORIES CloudWalker You Tube FMCG & Entertainment 0721-0 Retail Future 70#71Our advertiser value proposition is compelling Be the partner of choice that connects advertisers to our marketplace users 1 2 3 4 5 Product suite Reach & relevance Performance transparency Advertiser experience Brand safety Offer a full funnel proposition Maximise exposure while balancing this with consumer relevance Full visibility of the performance of their advertising spend Ease of doing business and getting great returns Trusted for brand safety and delivering a leading consumer experience 71#72We prioritise consumer experience and trust Consumer first Key tenet for any decisions Experience led Non-intrusive and near-native formats Relevance Optimised through machine learning models Science Experimentation used to guide product growth 72#73Media meets marketplace Driving brand awareness to conversion SANDI deliveroo HOP Sampling 12:55-13:20 sance an MATERNICE BALGA B.C.A ATFERENS MARDBER PERA HOTE £5 OFF FOR 48 HOURS ONLY Order Tracker GREAT FOOD IS TASTIER PAIRED WITH GREAT SHOWS itvX 15:30-33.31 In-App Pop Ups 12:03 - Social Media Push Notifications COCA-COLA BURGER Top picks inyergard Co-Branded Marketing Sponsored Placements UPPOLA WIN A VIP NIGHT OUT WITH CIROC ORDER CIROC FROM CO-OP TO ENTER CRM Homepage Banner Machine learning powers our relevance models which inform where and which ads to show across the funnel to users Out Of Home 73#74We target ad revenue >2% of GTV in 2026 New ad formats Increased ad load Increased ROAS >>> pricing Advertiser penetration New verticals New formats and channels tailored to advertiser needs Using science to increase ads shown, without compromising user experience Driving ROAS and partner experience to enable increased pricing Increasing advertiser adoption and budget penetration across segments New advertising spaces as we continue to grow verticals (eg Retail) 74#75We have built intuitive self-serve tooling for partners ← Advertising on Deliveroo Create a new advert (1) Details (2) Review and confirm Choose your duration Keep your advert running automatically on a weekly basis, or run a one-off. O Run weekly We'll automatically run this advert for you every week-cancel anytime Run a one-off Choose when your advert starts and ends Enter your budget We'll use this to pay for your bids. We'll only ever charge you for the budget you've used. Budget e.g. £75.00 Once your total budget is spent, we'll stop running the advert. Set your bid This is how much we'll deduct from your budget every time a customer clicks on your advert. This is also known as Cost-per-click. How do bids work? - 8 Featured Your advert Adverts can show in the 'Featured' and 'Offers' sections as well as on cuisine pages and within search results. Discover more → 1 Your restaurant Duration -- Budget -- 470) Bid amount £-,- Continue Back Chat to Us We provide a self-service campaign management tool for Restaurants, Grocers and Retailers offering targeting, bid & budget management and performance dashboard 75#76We have built intuitive self-serve tooling for partners deliveroo Delivery. Now The City ✓ Q Restaurants, groceries, dishes Restaurants Featured Paid placements from our partners T KAPP PELAN STAN Grocery Spend £10 Get 20% off selected items EDIY Only on Deliveroo Urban Greens *4.8 Excellent (500+) 0.3 miles In the spotlight Spend £10 Got 20% off Yolk olo Offers 3 5-15 min 15-30 min Account Pic Offers availab Deliveroo 4.8 EXCE 1.7 miles Rewards Only on Delive NATHALIL All bage Restaurants Categories QBagels (94) All results for "bagel" £6.90 Mega Vegan Bagel (v) E6.50 Bagelbuzz Sponsored 4.6 (261) 20-30 min Groceries Pepperoni Melt Bagel Shredded Lamb & Avocado Bagel E6.50 Brick Lane Bagel 4.7 (500+) 10-20 min Spend £10, get 25% off Crispy Bacon Cheese Salad Bagel £7.90 Beans & Beyond Xpress 25-45 min Chicken Salad Bagel £5.50 Vegan Cream Cheese Bagel £4.10 deliveroo Q Restaurants, groceries, dishes. Restaurants Breakfast 158 restaurants PRET Pick-Me I Ole & Steen Sponsored ww 10-20 min 0.4 miles away Free delivery with Plus Pret A Manger Deal Sponsored 4.6 Excellent (247) Got my cathe & 10-20 min 0.3 miles away Free delivery with Plus 4.7 Excellent (373) Yolk 4.5 Very Good (239) 15-25 min 0.6 miles away Spend £10, get 20% off Account 4.4 Very Good (64) 45-70 min 1.6 miles away Spend £10, get 10% off Which Wich Superior Sandwiches - Platters Smoothie Factory 5.0 Excellent (11) # We provide a self-service campaign management tool for Restaurants, Grocers and Retailers offering targeting, bid & budget management and performance dashboard 76#77Case study 1 Full funnel products to drive awareness and conversion for FMCGs 12:08 Work Q Restaurants, groceries, dishes Deliveroo HOP with Morrisons 4.8 Excellent (500+) 1.8 miles away Free delivery. Enjoy a great taste For irresistibly tasty meals, add Coca-Cola. Subject to availability. Order Now → Meal deals Meal deals COMPTOIR LIBANAIS Comptoir Libanais 4.7 Excellent (500+) - ££ 0.5 miles away £1.49 delivery Offers near you (468) 20-35 min all € Compto 4.7 E 0.5 miles Meal de The Sal 4.8 E 0.9 miles 12:08 Coca-Cola ca-Co Lo ZERO SUGAR Coca-Cola Zero Sugar Cans 8 x 330ml Questions about allergens, ingredients or products? Please contact the store. Frequently bought together Co-op Wild Rocket £1.35 1 330m Add for £4.50 + + deliveroo Top Deals Soft Drinks Coca-Cola coaCo Coca-Cola Zero Sugar 8x330ml Sponsored £5.65 + Father's Day Q Search Sainsbury's - Tower Hamlets Mile End Road Local 8x330ml £5.70 Coca-Cola Co Summer Eating & Drinking Coca-Cola Original Taste 8x330ml + Fever Tree Refreshingly Light Indian Tonic Water 500ml £2.35 + Top Picks TONIC WATER Ice Cream Fever-Tree Refreshingly Light Mediterranean Tonic Water 500ml £2.35 + Fruit Vegetables. Robinsons Fruit Creations Zesty Orange & Mango Squash 1L £3.20 + 6x ROAS "Coca-Cola Europacific Partners view Deliveroo as one of our Key GB Partners within rapid food & grocery delivery, unlocking incremental value transactions across key shopper moments and day parts. This is all enhanced by facilitating brand communication in the right way: right media - right moment - right place." 77#78Case study 2 Non-endemic offering combining on and off platform media formats Estimated arrival 20:05-20:20 Delivery 1x Give your rider this code After you've received your order 1x Banh Banh Vietnamese Kitchen is preparing your order O That's food sorted, but what will you watch? Your order STREAM FRIGORI itvx Compayne Gardens, Flat 5 Highfield Mews, NW63GB Ring on the gate 2 more orders to get B 5G 48 Banh Banh Vietnamese Kitchen 3520 Order help Bun Noodle Salads with Chicken Black Sesame Seed Cracker (GF) (VG) Beef Pho-PDO(GTO) 4 MALPRACTICE £5 OFF FOR 48 HOURS ONLY Just tap below to apply the credit to your account. GREAT FOOD IS TASTIER PAIRED WITH GREAT SHOWS itvx TAP THIS MESSAGE TO ADD THE CREDIT TO YOUR ACCOUNT ONCE THE CREDIT HAS BEEN ADDED YOU'LL HAVE 48 HOURS TO USE IT E25 MINIMUM SPEND APPLIES DELIVERY AND SERVICE FEES APPLY. ONE REDEMPTION PER PERSON SEE DELIVEROO.CO.UK/LEGAL FOR FULL TERMS Tap to apply £5 credit 9 million orders itv "Deliveroo provided a space for ITVX that was contextually relevant to our product and our target audience. This proved to be a real game-changer as it allowed us to become a top of mind streaming service to consider in that moment of decision making" 78#79Success to date adidas 65k+ Partner sites running campaigns 290+ ity sky Coca-Cola ABInBev Global FMC advertisers We have a winning proposition for advertisers who continue to invest in ads due to attractive ROAS Nestle Unilever FIVE GUYS PASTA EVANGELISTS 79#80What's coming next? deliveroo Marketing channels Display TV Socials Data partnerships & targeting Increased reach Choose your audience No7 Range Radiance+ Vitamin C Daily Brightening.... 50ml £19.95 Cleansing Pharmacy Brand X 125ml £12.95 Boots Picks HydraLuminous Radient Day Cream SP.. Results 7ml €14.95 + Serum Activating Pads 60 places €24,95 Offers Summe a Revitalising... 2 pieces £12.95 + 1piece £29.95 Radiant Results Revitalising.... 19:30 t Beauty and Personal Care Q Stores, brands or products X 10-20 min Radiance Vitamin C Daily Brightening... £19.95 Radiance HydraLuminous Day Cream SPF 1... €14.95 Brand X Grab the latest products View products Storefronts Showcase your products Radiance Results Revita Cleansing Bru £12.95 19:41 戶戶送最受 歡迎餃子 自家製芫姿豬肉餃子只需$59元起 馬上落單 X 19:41 Q 餐廳、生活百背,菜式 Bread & Truffle ★你的評分5/5 贊助 戶戶送最受歡迎 餃子 自家製白菜豬肉餃子只需$52元起 最受歡迎餐廳 10-201 Brand ads New formats 馬上落單 TERUPP ❤ Boot * 80#811 Ad revenue >2% of GTV in 2026 Key takeaways 2 Leveraging technology to deliver our Advertiser Value Proposition 3 Leveraging technology to enhance our Consumer Experience 4 Investment in new Ad Formats on and off platform Advertising fuels wins for our marketplace as well as Deliveroo 81#82Financial framework SCILLA GRIMBLE#83We have made a step-change in financial performance through a shifting external environment GTV and adjusted EBITDA (£m) Adjusted EBITDA GTV 2019 2020 2021 2022 2023 Strong topline growth Orders up 2.9x* and GTV up 3.2x* Step-change in profitability Breakeven ahead of plan on adjusted EBITDA Adjusted EBITDA margin from (9)% to 1%* Capital discipline & improving FCF Approaching FCF positive £300m surplus capital returned in 2023 * H1 2023 annualised vs 2019. Note: 2019 orders and GTV figures exclude exited markets. 2023 numbers represent H1 2023 annualised. Adjusted EBITDA and Adjusted EBITDA margin (as % of GTV) are as reported. 83#84We are more excited than ever about the opportunities ahead Consistent strengths Strong cohort fundamentals Large market opportunity Efficient logistics network Disciplined market focus Note: GTV growth in constant currency for medium term guidance. Further opportunities Further improving CVP New use cases & verticals Delivery experience Efficiency programme What's the result? Mid-teens GTV growth p.a. in the medium-term 4%+ adjusted EBITDA margin in 2026 84#85Growth#86A customer cohort lens shows our building blocks for growth UKI GTV by cohort (£m) Building blocks of growth Cohorts 2023* 2022 2021 2020 2019 2018 2017 Pre-2017 Strong cohort behaviour I Note: * 2023 number represents H1 2023 annualised C-19 boost to cohorts Macro headwinds to cohort growth 2016 2017 2018 2019 2020 2021 2022 2023* Illustrative building blocks for annual GTV growth Y1 New customers Lapses Frequency GTV per order Y2 86#87Headwinds in the last 2 years have held back growth High food inflation has hurt affordability... ...but frequency now stabilising 20 % 10% 0% (10)% (20)% UK food inflation UK wage inflation Wage minus food inflation 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2021 / 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 Source: UK food inflation and wage inflation data from Office for National Statistics Frequency by cohort (UKI) Monthly AOF 6.0 5.0 4.0 3.0 2.0 2Q16 2Q17 2Q18 2Q19 2015 2016 2Q20 2Q21 2Q22 2017 2018 2Q23 87#88Our initiatives are strongly aligned with growth and we have more levers than ever before Building blocks New customers Retention Frequency GTV per order Verticals 2013-19 Restaurant 2020-22 Restaurant 2023- Restaurant Grocery Grocery Grocery Retail Consumer value proposition Leading selection Leading selection Leading selection Value for money Value for money Value for money Plus Plus Plus Delivery experience Delivery experience Delivery experience 88#89We operate in large underpenetrated markets Total addressable market Restaurant¹ £230bn £35bn X Grocery² £600bn £35bn Online share of market Retail³ £700bn £110bn Restaurant GTV 40% CAGR Grocery GTV +4pp on total GTV CAGR £1.4bn £6.2bn 20184 20235 £0.8bn £0 20184 20235 (1) Euromonitor International: Foodservice from Consumer Foodservice 2023 edition, Foodservice Value RSP, GBP million, y-o-y ex rates, current terms (2) Statista (https://www.statista.com/outlook/cmo/food/worldwide): Figures are the 2023 combined market and online share of market for each of Deliveroo's markets. (3) Euromonitor International; Retail 2023 edition, Retail including Retailer categories included: Apparel and Footwear Specialist, Appliances and Electronics Specialist, General Merchandiser, Home Products Specialist, Leisure and Personal Goods Specialist, Other Non-Grocery Retailer and excluding groceries, Retail Value RSP including Sales Tax, GBP million, y-o-y ex rates, current terms. (4) 2018 GTV excludes exited markets. (5) 2023 numbers are H1 2023 annualised. 89#90Increasing order frequency has consistently driven growth Frequency by cohort (UKI) Q2 Q2 Q2 Q2 Q2 Q2 Q2 Q2 2016 2017 2018 2019 2022 2023 2020 2021 4.7 5.7 5.1 2015 2.7 3.0 3.6 4.1 4.9 2016 2017 2018 2019 2020 2021 2022 2.5 2.9 3.4 3.8 4.5 4.1 2.8 3.2 3.5 4.0 3.8 3.8 3.2 3.4 3.4 3.8 3.7 4.1 3.7 3.8 3.7 3.7 Monthly average order frequency (of MACs) by cohort year 3.2 3.2 3.3 3.0 3.2 3.3 Frequency by cohort (UAE) 2015 5.7 6.7 7.4 2016 2017 2018 2019 2020 2021 Q2 Q2 Q2 Q2 Q2 Q2 Q2 Q2 2016 2017 2018 2019 2020 2021 2022 2023 8.1 10.7 11.4 10.4 10.2 2022 5.2 6.5 5.1 7.9 9.6 11.1 10.5 10.6 6.5 8.1 5.6 7.3 6.2 9.5 9.3 9.4 8.6 8.4 8.7 7.3 7.5 7.7 5.4 5.8 Monthly average order frequency (of MACs) by cohort year 4.6 6.2 5.2 5.1 → 90#91We are still adding new customers at a healthy rate even post-pandemic New customers added in year (m) 8 6 4 2 0 2017 2018 UKI International 2019 2020 Source: Company data. Note: 2023 numbers represent 2023 run-rate. 2021 2022 2023 "Surely everyone who is going to try Deliveroo already did that during the pandemic lockdowns, didn't they?" 91#92There is a lot of room to grow active consumers Active consumers 25m Annually active consumers Quarterly active consumers Monthly active consumers 12m 7m Sources: Company data for active consumers. World Bank estimates for adult population (>19 years old) by market. UK adults (m) 9 11 31 France adults (m) 5 Never used Deliveroo Used, but not in L12M Used in L12M but not in L1M Used in L1M Italy adults (m) OO 43 44 92#93Multiple levers will help drive an acceleration in GTV growth GTV growth 5% Q3 2023 Reduced macro headwinds End of post-Covid normalisation Reducing inflationary pressures Note: GTV growth in constant currency for Q3 2023 and medium term guidance. Further CVP levers Leading selection Price integrity Deliveroo Plus Delivery experience New verticals & use cases Retail Mid-sized basket grocery Mid- teens Medium term 93#94Profitability#95Strong gross profit margins across multiple types of town/city in UKI - with plenty of opportunities too Reminder: Profitability curve of UKI towns and cities (as presented in 2021 results) UKI, Q4 2021 Operational gross profit margin (%) London Cambridge Sevenoaks Brighton, Harrogate Sheffield UKI Towns & Cities Leeds Town/City Type¹ Small Mid Large Mid Small Large Mid Large Mid Town/City Sevenoaks Cambridge London Brighton Harrogate Sheffield Belfast Leeds Southampton Location South East South South North North NI North South Note: (1) Population thresholds for the purpose of the categories above as follows: Large = >500k, Mid = 100k to 500k and Small = <100k. (2) Operational gross margin per management accounts. Operational gross profit margin² 13% 12% 11% 10% 10% 9% 8% 5% 5% 95#96Our hyperlocal focus enables gross profit margin expansion Profitability curve of UKI towns and cities UKI gross profit margin Operational gross profit margin (%) UKI Towns & Cities H1 2023 Q4 2021 Note: Operational gross margin per management accounts Progress since 2021 UKI gross margin up strongly from 9.1% in H2 2021 to 11.1% in H1 2023 GP margin progression in the 9 towns & cities spotlighted in Q4 2021: 3 x increase 200+ bps 2 x increase 100-200 bps 3 x increase 0-100 bps 1 x decrease 20bps 96#97We are making good progress in International markets Healthy profitability in key International markets... ... after strong progress in last 4-5 years Adjusted EBITDA (£m) 2019 H1 2023 Annualised Top 4 markets c.90% of International IGTV and gross profit International markets ranked by gross profit Market exits in 2021-22 Top 4 markets GTV (£m) 2019 0 H1 2023 annualised Adjusted EBITDA (£m) 97#98We have a proven ability to manage gross margin, with further opportunity ahead Gross profit margin and gross profit per order Revenue take rate* Cost of sales* Gross profit margin* GTV per order (£) Revenue per order (£) Cost of sales per order (£) Gross profit per order (£) *% of GTV 2021 27.5% 7.9% (19.7)% (18.7)% 22.2 6.1 (4.4) H1 2023 1.7 29.1% 10.4% 24.2 7.0 (4.5) 2.5 What we have delivered Opti sed consumer fees Reduced rider experience time (RET) What is still ahead Grow advertising revenue to >2% of GTV Further RET reduction through smarter stacking and merchandising Implement commercial architecture Balanced with CVP investments & mix effects 98#99Our efficiency programme addresses multiple opportunities P&L costs H1 2023 annualised Marketing Staff costs Other people expenses Capitalised development costs Total people expenses IT Other non-people expenses Non-people expenses Total marketing & overheads £m 187 317 54 (40) 331 64 70 134 652 % of GTV 2.7% 4.5% 0.8% (0.6)% 4.7% 0.9% 1.0% 1.9% 9.3% What we have delivered Refined efficiency of digital marketing Removed duplication of roles Set up offshore tech hub in India What is still ahead Further efficiency of marketing & promo spend Improved tooling and automation Leveraging location strategy Cultural shift on other overheads 99#100Putting it all together: we have already made good progress, and have high conviction in levers to reach our target % of GTV Revenue Cost of sales Gross profit Marketing Overheads Marketing & Overheads Adj. EBITDA 2021 27.5% (19.7)% 7.9% H1 2023 29.1% (18.7)% 10.4% c.10-12% (4.2)% (2.7)% (5.2)% (6.6)% (9.4)% (1.6%) 2026 (9.3)% c. (6)-(8)% 1.1% 4.0%+ Revenue levers Scale advertising revenue Increase promotional efficiency Cost of sales levers Reduce 'rider experience time' Smarter stacking and merchandising Marketing & overheads levers Increased marketing efficiency/targeting Improved tooling and automation Drive operating leverage with scale 100#101Capital allocation#102We are approaching cash flow breakeven and expect strong cash conversion to continue Significant progress on adjusted EBITDA and FCF 2019 Free Cash Flow Adjusted EBITDA 2020 2021 2022 H1 2023 Improving FCF in H1 2023: Adjusted EBITDA: £39m Headline FCF: £(28)m FCF before exceptionals: £(9)m Excludes interest income £13m Strong FCF outlook driven by: Growing profitability Capital discipline Low cash tax rate (prior year losses) 102#103Our capital allocation approach is unchanged Allocation of capital¹ Strategic and operational capital Headroom (including provisions and contingent liabilities) Structural surplus capital² Bridge from Dec-22 to pro forma net cash (£m) Note: (1) Buckets not to scale. (2) Structural surplus capital does not take into account potential future cash flow generation 1,000 Dec 22 (23) H1 2023 change in net sh (300) 677 Capital returns Pro forma net cash anno 103#1041 Large growth opportunity and alignment with our strategic initiatives Key takeaways 2 Mid-teens GTV growth p.a. in the medium term (in constant currency) 3 Multiple levers to reach our 4%+ adjusted EBITDA margin target by 2026 4 Continued capital discipline to drive sustainable FCF generation 104#105Consumer experience Bringing it all together#106The Deliveroo platform is becoming much more powerful Provide a more personalised experience 2 Change the way consumers engage with the platform 106#107Buttermilk pancakes at home Light, fluffy and oh so moreish. The kids and grownups are sure to love this modern take on a classic. Prep 20m Cook 5m Buy ingredients Al voice search £15.50 247 Start cooking տեսք Old Delhi Chicken 830 calories 7g carbs. 17g protein - 15g fat ★★★★★ Kricket The most delicious Indian food ever. I normally go to their restaurants but when Our restaurant Kricket I found them on Deliveroo, it was MUST order. Never fails you. Authentic Multi product store Great for sharing View menu Gold Integrations ·||-|| Need something else? Add anything from our wide variety of stores in the next 10 minutes for no extra fees 8 Carbs Nutritional info £24.40 Saved this month Lean gains Fat loss. Longevity 225g left 1765 kcal left Protein 112g left Fat 32g left Date night 17 places 23 dishes plus Enhanced notifications Personalised taste profiles Family food ✔ Lean gains ✔ Afternoon Maria Just now Here's some lunch options picked just for you to help you hit those macros. Kid friendly meals ❤ 11 High protein ✔ Hoolthy options for kids#108Wrap up WILL SHU#1091 2 3 4 5 Key takeaways from today Restaurant and grocery delivery still have a lot of headroom for growth Price integrity and delivery experience win consumer trust and unlock growth We're well positioned to build a large Retail business with attractive economics Smart stacking and merchandising drive win-win delivery efficiencies We use ML and automation to manage a complex business at a hyperlocal level 6 7 8 9 10 Plus is a key asset; we'll be a Plus-first business by 2026 We will grow advertising revenue to >2% of GTV by 2026 We're confident in driving mid-teens GTV growth p.a. in the medium term We have conviction in reaching our 4%+ adjusted EBITDA margin target by 2026 All underpinned by our team of consumer- obsessed operators and innovators 109#110Why are we confident? We are consumer obsessed We are innovators We are operators We are relentless#111Thank you#112Disclaimer This presentation may include forward-looking statements, which are based on current expectations and projections about future events. These statements may include, without limitation, any statements preceded by, followed by or including words such as "target", "believe", "expect", "aim", "intend", "may", "anticipate", "estimate", "plan", "project", "will", "can have", "likely", "should", "would", "could" and any other words and terms of similar meaning or the negative thereof. These forward-looking statements are subject to risks, uncertainties and assumptions about the Company and its subsidiaries and its investments, including, among other things, the development of its business, trends in its operating environment, and future capital expenditures and acquisitions. The forward-looking statements in this presentation speak only as at the date of this presentation. These statements reflect the beliefs of the Directors, (including based on their expectations arising from pursuit of the Group's strategy) as well as assumptions made by the Directors and information currently available to the Company. Further, certain forward-looking statements are based upon assumptions of future events which may not prove to be accurate and none of the Company nor any member of the Group, nor any of such person's affiliates or their respective directors, officers, employees, agents and/or advisors, nor any other person(s) accepts any responsibility for the accuracy or fairness of the opinions expressed in this presentation or the underlying assumptions. Actual events or conditions are unlikely to be consistent with, and may differ significantly from, those assumed. In light of these risks, uncertainties and assumptions, the events in the forward-looking statements may not occur. No representation or warranty is made that any forward-looking statement will come to pass. No one undertakes to update, supplement, amend or revise any forward-looking statements. You are therefore cautioned not to place any undue reliance on forward-looking statements. Information in this presentation on the Retailing and Consumer Foodservices industry is from independent market research carried out by Euromonitor International Limited but should not be relied upon in making, or refraining from making, any investment decision. 112