#1aramex INVESTOR PRESENTATION aram aramex aramex Q3 2023 Financial Results#2Disclaimer | Cautionary Note Regarding Forward Looking Statements This presentation has been prepared solely for informational purposes. The presentation may contain forward looking statements, which reflect our beliefs or current expectations and assumptions regarding the future of the business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Forward looking statements are neither historical facts nor assurances of future performance and can generally be identified by terminology including "anticipate", "aspire", "believe", "project", "estimate", "expect", "forecast", "strategy", "target", "trend", "future", "likely", "may", "should", "will", "intend", "plan", "goal", "objective", "seek", "roadmap", and other words of similar meaning or similar expressions. By their nature, forward looking information and statements are subject to known and unknown uncertainties, risks and changesincircumstances that are difficult to predict and not in our control. Our actual results of operations and financial conditionsmay differ materially from that or those indicated in the forward looking statements. You should not place undue reliance on any of these forward looking statements. Any forward looking statement made by us in the presentation is based only on information currently available to us and speaks only as to the date on which this presentation is made. Past performance is not a reliable indication of future performance. We make no representations or warranties as to the accuracy, or completeness of the information and shall not have any liability for anyrepresentations, express or implied, regarding the information contained in, or for any omissions from, the information included in this presentation. We undertake no obligation to publicly update any forward looking statement whether as a result of new information, future developments or otherwise. The information contained in the presentation is prepared to assist prospective investors in making their own evaluation of the Company. ar mited mex aramex delivery unlimited delivery unlimited arame a#3Disclaimer | Table of contents 1. Aramex at a Glance 2. Key Highlights of Q3 2023 3. Q3 2023 Product Breakdown 4. Q3 2023 Group Financial Results aramex delivery unlimited PAGE 3#4Aramex Overview | Aramex is a Global Provider of comprehensive Logistics and Transportation Solutions aramex delivery unlimited 16,000+ 65+ 600+ USD 367M USD 857M Employees Countries Offices Revenues Q3 2023 Market Cap on 29 Sep 2023 TO International Express With Aramex International Express, sending time-sensitive documents or packages is prompt, convenient and easy. Freight Forwarding Whether by sea, air or land, Aramex Freight provides the expertise for seamless and streamlined operations. Domestic Express We understand that delivering from one side of the country to another requires efficiency and reliability of global standards and local operations and we continually strive for excellence. Logistics & Warehousing As a global logistics and transportation solutions provider, Aramex will help simplify customers' operations with cost effective and comprehensive solutions. Page 4#5Regions | Aramex Global Footprint NORTH AMERICA United States of America Canada 戸 EU Czech Republic Ireland Netherlands United Kingdom aramex delivery unlimited MENAT Algeria Egypt Georgia Iran Iraq Jordan Lebanon Libya Morocco Palestine Sudan Tunisia Turkey GCC Bahrain Kuwait Oman Qatar NORTH ASIA China Hong Kong SUB-SAHARAN AFRICA Tanzania Uganda Ghana Kenya Nigeria South Africa Saudi Arabia United Arab Emirates SOUTH ASIA Bangladesh India Indonesia Malaysia Singapore Sri Lanka Thailand OCEANIA Australia New Zealand PAGE 5#6Aramex Overview | Key investment highlights + aramex delivery unlimited aramex yunlimited Four well-defined business products offer scale, diversification and an end-to-end service offering for customers, underpinned by a 40-year track record of successful operations. aramex express aramex DOMESTIC ~64% of Revenue aramex LOGISTICS aramex FREIGHT ~35% of Revenue Product diversification A leading transportation player, with domestic and cross border expertise, as well as freight services across air, land and sea. Our Logistics business is leveraged strategically across our infrastructure to increase customer stickiness through supply chain services and 800k sqm in facilities across key markets in the Middle East and Africa. Unlocking value Operational efficiency and investments in state-of-the-art technologies are unlocking value and are a key profitability driver. Enhancements of our digital systems, automation and Al driven business decisions are fully integrated in our business strategy. Competitive advantage Our end-to-end service offering - across courier express, freight, warehousing and supply chain - is a distinct competitive advantage and a unique capability in many of our key markets. This integrated approach is valuable for our clients and is allowing them to benefit from our total transportation offering across all sectors. Strategic shareholders Strategic shareholders provide opportunities. Aramex has two strategic shareholders, Geopost / DPD and Abu Dhabi Ports that provide partnership opportunities for all product lines. *Approximately 1% of global revenues are from Other activities + + + + Growth prospects Well-positioned to capture growth at a higher rate than the market, through expansion of trade lanes, and exposure to high growth verticals in emerging markets with solid GDP projections, where we have the right capabilities to win. Inorganic growth The under-geared balance sheet is a source of value. In an industry where economies of scale are important, value accretive acquisitions will be transformational for Aramex and the source of significant earnings accretion. Page 6#7aramex IN THE MIDDLE EAST OF IT ALL AN ARAMEX DOCUMENTARY | 40 YEARS OF OPERATIONS Click here to watch the video. aramex#8Q3 2023 Key Highlights nex 11 Circirnex aramex#9Business Highlights | Q3 2023 vs Q3 2022 aramex delivery unlimited Focus on quality business, operational efficiencies and cost optimization delivers GP growth and margin improvement, and a stable EBITDA margin. Management priority remains on growing quality revenue with robust margins to improve profitability. Through persistent global challenges, inflationary environment and currency fluctuations, Aramex delivered a robust Revenue of USD 367 million in Q3 2023, a decline of 5% Year-on-Year and a resilient Gross Profit of USD 91 million, a growth of 4% Year-on-Year. Excluding the FX impact, Revenue decline was 2% and Gross Profit growth was 8%. Aramex's strategically balanced geographical presence continues to be an advantage; the GCC remains the highest contributor to Group revenues with a share of 40% of total revenues, with the region also reporting 21% growth in Gross Profit in Q3 2023. The Company reported robust margin performance with Gross Profit margin increasing to 25% and a stable EBITDA margin of 10%. The Company's prioritization of cost management is also evidenced by the notable 9% decline in the Group's organic General and Administrative Expenses (G&A) in Q3 2023. Notably, selling expenses for the organic business increased during the quarter, in line with the Company's strategy to increase sales competencies in key verticals across key markets. EBITDA reached USD 36 million, a decline of 5% YoY in line with Revenue softness, indicating the continued focus on quality business, disciplined cost management and investment in operational efficiencies. Normalized Net Income was USD 8 million in Q3 2023, a decline of 23% YoY. Net income was normalized for the currency translation impact and the increase in finance expense loans following the acquisition of MyUS in Q4 2022. The Company remains robustly positioned with a healthy cash balance of USD 164 million and a strong balance sheet with a net debt-to-EBITDA ratio of 2.6x. Page 9#10ارامكلال، المركز اللوجستي aramex famila Ewals Product Breakdown#11Financial & Performance Highlights | International Express International Express Volumes (in million of shipments) aramex delivery unlimited Geographic contributions to int'l express volumes in Q3 2023 -0.3 -5% 5.9 5.8 5.1 5.1 5.4 5.5 -0.2 4.9 0.0 0.0 4.9 -0.3 0.3 -0.1 0.1 0.0 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q3 2022 GCC MENAT SS Africa Europe America North Asia South Oceania Q3 Asia 2023 The consolidated International express product delivered 4.9 million shipments in Q3 2023, a decline of 5% YoY. Excluding MyUS, the organic product delivered 9% drop in volumes, driven by the decline in the e-commerce business. Weakness in the retail sector in the UK impacted a key trade lane for the company, UK into the GCC / MENAT. • Overall, volumes in Q3 2023 were supported by the resilience of the business in MENAT, South Asia and the addition of MyUS. • We continue to see growth from our premium products (same day and next day - intra GCC) and dangerous goods. Page 11#12Financial & Performance Highlights | International Express Quarter Financials (in USD thousands) Revenue Total Direct Cost Gross Profit GP% Avg. revenue per shipment GP Margin and Commentary aramex delivery unlimited GP Margin Q3 2022 134,490 Q3 2023 Change 139,397 32% 34% 36% 40 32% 31% 32% 4% 30 93,146 89,702 (4%) 20 41,344 31% 49,695 20% 10 36% 0 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Average KPIs per shipment 28.47 Avg. cost per shipment Avg. GP per shipment 28.60 28.73 27.82 . 30 27.02 26.25 25 19.38 19.32 18.31 18.18 18.48 18.49 20 15 2525 • 10.24 8.71 9.09 9.28 9.34 8.07 10 0 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Robust performance given the market environment, with good cost control and strong GP. We had a positive impact in Q3 2023 costs which we do not believe will recur in future quarters, and therefore we expect the GP margin to return to the prior quarter levels. Excluding the one-off impact, GP margin was 33%. The increase in revenue per shipment was due to 1) MyUS impact and 2) rate increases which was partially offset by the declines primarily associated with 1) the change in customer mix and 2) the drop in surcharges (C19 and fuel) and COD business (cash on delivery). Shipment KPIs for the organic business show improvement QoQ. Page 12#13Financial & Performance Highlights | Domestic Express aramex delivery unlimited Quarterly Domestic Volumes (in million of shipments) Geographic contributions to domestic volumes in Q3 2023 0.2% +2% 24.5 24.5 0.2 0.3 -0.2 0.0 0.0 0.0 -0.2 +0.06 13.9 14.2 24.1 24.5 26.5 24.6 24.2 24.5 Q2 Q3 Q4 Q1 Q2 Q3 2022 2022 2022 2023 2023 2023 Group Domestic volumes Q3 Q3 2022 2023 • Q3 2022 GCC MENAT SS Africa Europe North Asia South Asia Oceania Q3 2023 Group Domestic Volumes excl Oceania **Oceania restructuring plan is in place 24.5 million domestic shipments in Q3 2023, representing stable revenues YoY. Excluding Oceania, domestic volume growth was again 2% in Q3 2023 compared to Q3 2022, driven by growth in volumes in the GCC and MENAT. In the GCC specifically, UAE is performing particularly well on the back of banking and e-commerce; with growth in volumes and revenues YoY and QoQ. Page 13#14Financial & Performance Highlights | Domestic Express Quarter Financials (in USD thousands) GP Margin and Commentary aramex delivery unlimited GP Margin Q3 2022 Q3 2023 Change Change Excl FX Revenue Total Direct Cost Gross Profit GP% 100,697 96,007 (5%) 76,490 76,358 (0%) 24,207 19,649 24% 20% 4% 25% 24% 26% 24% 30 21% 20% 20 (19%) (9%) 10 0 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Average KPIs per shipment Avg. revenue per shipment Avg. cost per shipment Avg. GP per shipment 5 4 4.21 4.11 3.93 4.00 3.95 3.91 3 3.16 3.12 2.93 3.03 3.11 3.11 2 1.05 0.99 1.00 0.97 0.84 0.80 1 0 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 . The Domestic Express business was impacted by foreign exchange translation, with a negative impact of USD 8.3 million on Revenue and USD 2.5 million on Gross Profit. Excluding FX, domestic revenue grew 4% and GP declined 9% in Q3 2023 compared to Q3 2022; with a corresponding GP margin of 21% in Q3 2023. Internal reclassifications negatively impacted the financial performance comparison to prior year: heavy shipment business in Ireland and UK was reclassified internally from domestic to freight business from July 2023 onwards. The lower Gross Profit margin is primarily attributed to the softness in Oceania, as well as a different allocation of resources within the Group. Revenue per shipment benefitted from 1) increases in rates and customer mix which was offset by primarily 1) FX impact, and to a lesser degree, the 2) decrease in fuel surcharges. Page 14#15Financial & Performance Highlights | Freight Forwarding Quarter Financials (in USD thousands) and Volumes Freight Margins and Volumes aramex delivery unlimited Q3 2022 Q3 2023 Change Excl. FX GP% EBITDA% Revenue 119,678 100,177 (16%) (15%) 20 16% 16% 16% Total Direct Cost 15% 103,128 84,299 (18%) 14% 13% 15 Gross Profit 16,550 15,878 (4%) (1%) 10 10 7% 7% 7% 6% 6% 6% GP% 14% 16% EBIT 6,417 4,679 (27%) EBIT% 5% 5% EBITDA EBITDA% 8,521 7% 6,539 (23%) 7% 5 0 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Land Freight (LTL KGs) Sea Freight (FCL TEU) Sea Freight (LCL CBM) Q3 2022 7,355 38,523,420 Q3 2023 7,718 53,409,441 Change 5% 39% 8,051 7,766 4% 5,439 Air Freight (KGS) 4,759 11,773,193 14% 10,901,706 -7% Freight continues to deliver quality business, with solid growth in land freight and sea freight volumes. Industry sea freight rates continued to decline, leading to a shift in volumes from air freight, back to sea freight. Increased operational efficiency drives improvement in GP margin to 16% while EBIT and EBITDA margins are stable despite the softness at the topline and noting an increase in SG&A costs. Land freight (FTL) Page 15#16Financial & Performance Highlights | Logistics Quarter Financials (in USD thousands) Logistics Margins aramex delivery unlimited GP% EBITDA% Q3 2022 Q3 2023 Change Excl FX 23% Revenue 30,081 28,539 (5%) 1% 25 21% 22% 19% Total Direct Cost 27,710 25,367 (8%) 20 15% 15% Gross Profit 2,371 3,173 34% 61% 15 15% 11% GP% 8% 11% 10 EBIT EBIT% EBITDA EBITDA% (1,665) (842) 49% 5 (6%) (3%) 0 Avg 2022 Q1 2023 Q2 2023 Q3 2023 4,105 14% 5,319 19% 30% • • Resilient performance for the Logistics product: Revenue was impacted by foreign exchange translation, with a loss of USD 1.9 million. Excluding FX, Revenue grew 1% in Q3 2023. The rebalancing of the logistics business continues, with increase in sales from strategic sectors such as retail and energy. Sequentially, Q3 2023 saw a decline in sales and margins compared to Q2 2023 due to loss of business, following the acquisition of our customer by a company already having Logistics infrastructure. New business wins secured in Q3 2023 will be reflected in the financials in 2024. The specialized pharma facility build is on track for opening next year. Page 16#17I Group Financial Results LO 17#18GROSS PROFIT REVENUE Financial & Performance Highlights | Product Contribution to Revenue and Gross Profit aramex Q3 2023 vs Q3 2022 (in USD million) Y-o-Y 4% -5% -16% -5% 0% Growth Contribution to Group (in % of total) 8%1% -5% 388 367 -5 -20 -2 27% Q3 2022 Express Domestic Freight Forwarding Logistics Other Q3 2023 Y-o-Y 20% -19% -4% 34% -5% Growth 36% 20% 16% 11% +4% 38% 26% Express Q3 2023 Freight Forwarding Domestic 3% 3% 22% Q3 2023 55% 17% 87 91 -5 0 Q3 2022 Express Domestic Freight Forwarding Logistics Other Q3 2023 X% Represents Margin in % of Revenue Logistics Other Express Freight Forwarding Domestic Logistics Other* Page 18#19Regional Breakdown | Q3 2023 vs Q3 2022 Regions (in thousands USD) aramex delivery unlimited GCC MENAT Europe America Rev Ctrb to Group 40% Rev Ctrb to Group 12% Rev Ctrb to Group 12% Rev & Grth 145,861 (8%) Rev & Grth Rev & Grth 45,475 (14%) GP & Grth 35,029 21% GP & Grth GP & Grth 11,467 (17%) Volumes 9,405,646 (1%) Volumes Volumes 4,752,766 9% 43,764 (6%) 6,264 (8%) 937,978 (26%) Rev Ctrb to Group Rev & Grth GP & Grth Volumes 10% 38,491 89% 10,435 149% 1,242,720 26% SS Africa North Asia South Asia Oceania Rev Ctrb to Group 5% Rev & Grth 19,424 (18%) Rev Ctrb to Group Rev & Grth 3% GP & Grth 7,365 (3%) GP & Grth Volumes 1,416,238 (11%) Volumes 9,973 (34%) 2,518 (40%) 215,550 (26%) Rev Ctrb to Group Rev & Grth GP & Grth Volumes 7% 27,480 (18%) 5,529 (11%) Rev Ctrb to Group Rev & Grth GP & Grth 10% 35,181 (2%) 1,098,510 3% Volumes 5,531 (35%) 10,325,425 (2%) Revenues include revenues from all four product lines: International Express & SnS; Domestic Courier, Freight Forwarding and Logistics, and Other Ctrb refers to regional revenue contribution to total group revenues. Volumes: includes volumes from International Express (incl. SnS and MyUS) and Domestic Courier; all volume numbers are actuals Page 19#20Financial & Performance Highlights | Group Highlights Q3 2023 Revenue (USD 000) -2% 388,349 367,499 378,877 Gross Profit (USD 000) 22.5% 24.8% 25.0% +8% 87,357 91,123 94,704 Q3 2022 Q3 2023 Q3 2023 Excl FX Q3 2022 Q3 2023 Q3 2023 Excl FX X% Represents Margin in % of Revenue Reported revenue was USD 367m, down 5% YOY, impacted by USD 11.4 million in currency devaluation. The slight softening in revenue can be attributed to global headwinds, FX translations and reduced retail activities. Excluding FX, revenue decline was 2% driven by volume decline. Management continues to prioritize quality revenue, operational efficiency and cost optimization through the economic cycle delivering 4% growth in reported Gross Profit and margin improvement. Excluding FX, Gross Profit growth was 8%. A positive impact in Q3 2023 costs contributed to the boost in gross profit. Page 20#21Financial & Performance Highlights | Group Highlights Q3 2023 SG&A (USD 000) 19.6% 21.4% EBITDA (USD 000) 9.9% 9.9% +3% -5% 76,165 78,559 38,490 36,450 Net Profit (USD 000) 2.8% 0.7% 2.2% -23% 10,794 8,283 2,625 Q3 2022 Q3 2023 Q3 2022 Q3 2023 Q3 2022 Q3 2023 Q3 2023 Normalized X% Represents Margin in % of Revenue Consolidated Group SG&A increased by 3% YoY. Organic G&A (which excludes MyUS) declined by 9%, reflecting the Company's agility in cost management, reaching pre-pandemic levels. Notably, selling expenses for the organic business increased during the quarter, in line with the Company's strategy to increase sales competencies in key verticals across key markets. EBITDA margins were maintained at 10%, while EBITDA reached USD 36 million, a decline of 5% YoY in line with revenue indicating our success in managing costs and operational efficiencies. Normalized net income was USD 8.3 million, down 23% YoY. Net income was normalized for the currency translation impact and the increase in finance expense loans following the acquisition of MyUS in Q4 2022. Page 21#22USD Millions Financial & Performance Highlights | Group Free Cash Flow aramex delivery unlimited FCF Evolution 200 150 100 50 0 -50 -100 -150 -200 -250 Free Cash Flow = Cash Flow from Operating - (Lease Repayments + Interest Expense ROU) + CapEx 134 75 Otr1 Qtr2 Qtr3 Qtr4 Qtr1 (13) (17) (29) 2020 0.3 0.2 86 0.1 66 37 10 24 15 10 3 -0.1 [4] Qtr.2 Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Otr4 Qtr1 Qtr3 -0.2 -0.3 2021 2022 2023 -0.4 -0.5 -0.6 (214) FCF QTD Normalized IFCF QTD -FCF-to-Sales QTD Free Cash Flow in Q3 2023 improved significantly, benefitting from higher cash from operating activities and improvement in the cash conversion cycle. Free Cash Flow in Q2 2023 was impacted by dividend payments and lower operating cashflow due to the decline in pre-tax income. Free Cash Flow in Q4 2022 includes the consideration paid for the acquisition of MyUS. Normalised Free Cash Flow in Q4 2022 was $72 million, representing 4.5% of sales and indicating the start of a good recovery compared to 2021 Normalizations applied to FCF in Q4 2022 include the MyUS acquisition cash outflow, and certain 2021 non-recurring items including the proceeds from the sale of InfoFort Page 22#23Financial & Performance Highlights | Healthy balance sheet, conservative leverage, and strong cash position aramex delivery unlimited Balance Sheet Highlights (in USD thousands) 30 September 2023 31 Dec 2022 Change Current assets Assets held for sale Non-current assets Total assets Current liabilities 498,910 594,401 (95,492) Change % -16.1% 1,487 1,789 (302) -16.9% 1,054,424 1,062,718 (8,295) -0.8% 1,554,820 1,658,908 (104,088) -6.3% 344,189 412,500 (68,311) -16.6% Liabilities held for sale 935 1,336 (401) -30.0% Non-current liabilities 555,832 559,349 (3,517) -0.6% Total liabilities 900,955 973,185 (72,229) -7.4% Non-controlling interest equity 1,734 2,414 (680) -28.2% Equity Attributable to equity holders 652,131 683,310 (31,179) -4.6% Total equity 653,865 685,724 (31,859) -4.6% Key Ratios Net Debt TO EBITDA 2.6x 2.3x Debt to Equity 86.0% 87.5% Debt to Equity (Excluding IFRS 16) 47.3% 50.1% Page 23#24Investor Feedback - Annual Survey Aramex invites you to participate in the Annual Investor Feedback Survey. This survey will take ten minutes of your time, and your feedback will help us improve our investor relations activities, communications and disclosures. All survey responses are anonymous. Please click here to access the survey until November 16th, 2023. Your feedback is much appreciated! ar mited mex aramex delivery unlimited delivery unlimited arame a#25aramex | Investor Relations Contacts Nicolas Sibuet Chief Financial Officer Anca Cighi Investor Relations Officer [email protected] Tel +971 4 211 8464 Investor Relations Dubai - UAE aramex.com/investors Page 25