#1aramex INVESTOR PRESENTATION aram aramex aramex Q4 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 includedin 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 Q4 2023 3. Q4 & FY 2023 Product Breakdown 4. Q4 & FY 2023 Group Financial Results aramex delivery unlimited PAGE 3#4Aramex Overview | Aramex is a Global Provider of comprehensive Logistics and Transportation Solutions 16,000+ Employees aramex delivery unlimited 70+ 600+ USD 1.55B USD 913M Countries Offices Revenues FY 2023 Market Cap on 31 Dec 2023 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 EU Czech Republic Ireland Netherlands United Kingdom aramex delivery unlimited NORTH AMERICA United States of America Canada MENAT Algeria Egypt Georgia Iraq Jordan Libya Morocco Palestine Sudan Tunisia GCC Bahrain NORTH ASIA China Hong Kong Lebanon Turkey Kuwait Oman Qatar 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 dely unlimited aramex delivery unlimited 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. 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. + + + 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. 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. LOGISTICS aramex express aramex DOMESTIC ~67% of Revenue aramex aramex ~32% of Revenue* FREIGHT 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. 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. 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. *Approximately 1% of global revenues are from Other activities Page 6#7aramex IN THE MIDDLE EAST OF IT ALL AN ARAMEX DOCUMENTARY | 40 YEARS OF OPERATIONS Click here to watch the video. aramex#8Q4 2023 Key Highlights nex 11 Circirnex aramex#9Business Highlights | Product Dynamics Summary aramex delivery unlimited International express • Macroeconomics and geopolitics impact consumer spending • Focus on key international trade lanes (US and Europe) into our home markets as well as intra regional with a particular focus on MENAT, GCC, South Asia and Oceania. • Increase the focus on direct customers, SMEs, and B2B business as well as high margin verticals. • Grow new products such as premium services for international express. • Further expansion of MyUs and SnS business which comes at high margins. Domestic express • Focus on gaining market share while leveraging existing infrastructure. Continue investing in automation and technology for operational efficiency. • Turnaround strategy in Oceania which is a key contributor to our domestic express product. • High competition in home markets, leading to a commoditized last mile business, while entry of new players leads to further price erosion. • Infrastructure, technology and operational excellence underpinned by sustainable operations are key competitive differentiators. Logistics Logistics will grow in line with warehouse utilization and sqm expansion, currently at approximately 800,000 across owned, leased and managed. • Focus on quality revenue and specialism in strategic verticals such as retail, industrials, pharma across our core markets. • Leverage logistics strategically, by continuing to offer customers an integrated solution that covers the whole supply chain elements. Shipment Lifecycle Shipper 適 Local station origin /Outbound export clearance Hub حشا Freight • Global rates in shipping and freight forwarding continue to fluctuate significantly, hence our focus on product profitability. Significant opportunity for growth in a highly fragmented market. Focus sales efforts on key global trade lanes into the GCC, MENAT and Africa and our strategic verticals. • Deep specialization in strategic verticals from a sales and operational perspective. Inbound import clearance Local station dest. Pick-up First mile Logistics Linehaul (Carriers) Logistics Last mile Consignee LA Delivery#10ارامكلال، المركز اللوجستي aramex famila Ewals Product Breakdown#11Financial & Performance Highlights | International Express Volumes International Express Volumes (in million of shipments) +31% 7.6 5.8 5.4 5.5 4.9 +5% 23.3 22.2 Geographic contributions to int'l express volumes in Q4 2023 aramex delivery unlimited 31% 7.6 0.0 -0.7 0.1 0.0 0.2 0.0 2.6 5.8 -0.3 Q4 Q1 Q2 Q3 Q4 FY 2022 FY 2023 Q4 2022 GCC MENAT SS Africa Europe America North South Oceania Q4 2023 2022 2023 2023 2023 2023 Asia Asia International Express delivered 31% increase in shipment volumes in Q4 2023 YoY reaching 7.6 million shipments, setting a record for the highest quarterly volumes in the history of the Aramex. For the full year 2023, volumes were up 5% YoY. This growth is driven by new customers. International express will continue to diversify across verticals and markets, while also expanding its premium product and dangerous goods offering. Page 11#12Financial & Performance Highlights | International Express Financials aramex delivery unlimited Quarter and Full Year Financials (in USD thousands) GP Margin GP Margin Q4 2022 Q4 2023 Change Revenue 165,427 178,576 8% 40 36% 34% 32% 34% 34% Total Direct Cost 112,604 117,145 4% 35 31% 32% 32% 35 Gross Profit 52,823 61,431 16% 30 30 GP% 32% 34% 25 25 20 20 FY 2022 FY 2023 Change 15 15 Revenue Total Direct Cost Gross Profit GP% 612,341 625,010 10 2% 10 5 418,112 194,230 32% 412,561 212,449 34% -1% 5 0 0 9% Q3 2022 Q4 2022 Q1 Q2 Q3 Q4 2023 2023 2023 2023 FY 2022 FY 2023 8% growth YoY in Q4 2023 Revenue driven by new client wins. With more efficient operations, and an infrastructure ready to accommodate more business, gross profit grew double digit, at a fast rate than revenue, and the GP margin improved two percentage points to 34%. For the full year 2023, we report improvement in all key indicators for the international express product and close the year with a healthy GP margin of 34%. Page 12#13• . Financial & Performance Highlights | Domestic Express Volumes Quarterly Domestic Volumes (in million of shipments) Group Domestic volumes Geographic contributions to domestic volumes in Q4 2023 aramex delivery unlimited 0% 0% 100.1 100.0 26.5 26.6 0.0 0.0 -0.2 0.0 0.0 0.0 0.3 0% 26.5 24.6 24.2 24.5 26.6 II Q4 Q1 Q2 Q3 2022 2023 2023 2023 Q4 2023 FY FY 2022 2023 Q4 2022 GCC MENAT SS Africa Europe North Asia South Asia Oceania Q4 2023 **Oceania restructuring plan is in place Domestic express delivered stable volumes of 26.6 million shipments in Q4 2023 compared to the same period last year; and a good increase over Q3 2023 due to seasonality. Despite the softness in retail activities worldwide, 2023 delivers stable volumes for domestic express across the regions. Notably, we are starting to see improvement in Oceania, with a modest increase in volumes in Q4 2023 compared to the same period last year. This is driven by the improvement in our SLA KPIs and the restructuring activities being carried out in Oceania. Our focus remains on increasing market share in key markets and recovering volumes in Oceania. Retail, B2B customers and SMEs will contribute to volume growth. Page 13#14Financial & Performance Highlights | Domestic Express Financials Quarter and Full Year Financials (in USD thousands) GP Margin aramex delivery unlimited Q4 2022 Q4 2023 Change Change Excl FX 24% 25% 24% 25 21% 22% 20% Revenue 30 25% 102,850 98,493 (4%) (1%) 20 22% Total Direct Cost 76,823 77,136 0% 15 20 10 Gross Profit 26,028 21,357 (18%) (19%) 10 5 GP% 25% 22% 0 0 Q3 Q4 2022 Q1 Q2 2022 2023 2023 2023 Q3 Q4 2023 FY 2022 FY 2023 Change FY 2022 FY 2023 Change Excl FX Revenue 407,527 388,651 (5%) 2% Total Direct Cost Gross Profit 306,702 100,825 GP% 25% 303,473 85,178 22% (1%) (16%) (8%) Q4 2023 Revenue declined 4% YoY and Revenue for the full year 2023 declined 5% YoY mainly due to due to FX impacts. Excluding the currency impact, Revenue decline was 1% for the Q4 2023 period, and for the full year period Revenue grew 2%. We have adjusted the reporting parameters of the domestic express product, in line with the other products. Upon removing FX effects, the Gross Profit declined 8% for the full year primarily due to the softness in Oceania, certain adjustments in Group reporting as well as currency fluctuations. As a reminder, from July 2023 onwards, heavy shipment business in Ireland and UK was reclassified internally from domestic to freight business from July 2023 onwards, impacting the Page 14 performance of the domestic express and freight forwarding products.#15Financial & Performance Highlights | Freight Forwarding Volumes Freight Forwarding Volumes Q4 2022 Q4 2023 Change FY 2022 FY 2023 Change Air Freight Kgs 11,579,801 11,958,881 3% Land Freight (FTL) 7,616 8,024 5% 52,525,834 29,036 44,832,629 -15% 29,153 0% Land Freight (LTL KGS) 38,871,375 46,270,905 19% 153,489,529 174,521,104 14% Sea Freight (FCL TEU) 8,392 7,694 -8% Sea Freight (LCL CMB) 4,509 7,647 70% 31,133 18,526 30,787 24,733 -1% 34% Freight Forwarding Margins GP% EBITDA% 20 20 15% 16% 16% 16% 14% 14% 14% 15% 15 15 10 7% 7% 7% 6% 6% 5% 10 -6% 6% / 5 5 0 0 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 FY 2022 FY 2023 aramex delivery unlimited • Commentary Overall, Aramex's Freight-Forwarding business was resilient in a challenging market characterized by the decline in global freight rates, leading to a downward impact on pricing as seen across the freight forwarding industry worldwide. Land freight delivered robust growth in volumes, with Aramex boasting a large trucking fleet in the GCC and wider region. During the year, the decline in sea freight rates has led to a shift in volumes from air freight to sea freight which is also reflected in the volume performance of Aramex. Softness in demand globally coupled with the decline in sea freight rates are providing customers with the opportunity to optimize their supply chain and mode of transportation to move more volumes via sea in a more cost-effective manner Page 15#16Financial & Performance Highlights | Freight Forwarding Financials Quarter Financials (in USD thousands) Full Year Financials (in USD thousands) aramex delivery unlimited Q4 2022 Revenue 114,715 104,535 Q4 2023 Change (9%) Excl. FX FY 2022 FY 2023 Change Excl. FX (9%) Revenue 458,633 407,305 (11%) (10%) Total Direct Cost 97,845 90,030 (8%) Total Direct Cost 395,274 344,860 (13%) Gross Profit 16,870 14,505 (14%) (12%) Gross Profit 63,359 62,446 (1%) 3% GP% 15% 14% GP% 14% 15% EBIT 4,448 2,876 (35%) EBIT% 4% 3% EBITDA EBITDA% 6,383 6% 4,988 5% (22%) EBIT 19,567 EBIT% 4% 17,377 4% (11%) EBITDA EBITDA% 27,532 25,142 (9%) 6% 6% Sales evolution was in line with pricing, driven by the decline in industry rates. Q4 2023 registered a 9% YoY decline in Revenue, mirroring a consistent trend for the full year with a 11% drop in Revenue. Notably, Q4 2023 revenue improved compared to Q3 2023 revenue. • Despite the softness at the topline due to declines in rates, margins remained largely stable YoY Costs were well managed, declining in line with revenues while efficiencies helped deliver a stable GP margin of 14% for Q4 2023 and 15% for FY 2023 and stable EBIT and EBITDA margins for the full year period. Page 16#17• Financial & Performance Highlights | Logistics Quarter Financials (in USD thousands) Logistics Margins aramex delivery unlimited Q4 2022 Q4 2023 Change Excl FX FY 2022 FY 2023 Change Excl FX Revenue 31,441 30,184 (4%) 0% Revenue 122,477 116,791 (5%) 2% Total Direct Cost 26,349 24,430 (7%) Total Direct Cost 103,682 99,016 (5%) Gross Profit 5,093 5,754 13% 22% Gross Profit 18,795 17,776 (5%) 7% GP% 16% 19% GP% 15% 15% EBIT 1,168 4,638 297% EBIT EBIT% 4% 15% EBIT% 2,491 2% 4,757 91% 4% EBITDA EBITDA% 7,185 23% 10,897 36% 52% EBITDA EBITDA% 26,467 22% 29,465 11% 25% Resilient performance for the Logistics product: Revenue was impacted by foreign exchange translation. Excluding FX, Revenue was stable in Q4 2023 and increased 2% for the full year period. Sequentially, Q4 2023 saw an increase in sales (and margins) compared to Q3 2023, driven by new client wins. Aramex continued to focus on enhancing operational efficiencies and maintained a disciplined approach to cost management. For the full year 2023, Gross Profit declined in line with Revenue and the margin was maintained at a healthy 15%. Q4 2023 Gross Profit increased 13% YoY and the margin improved to 19%. It is worth noting that Logistics benefitted from a one-off settlement which added a further boost to the profitability of this product during Q4 2023. Page 17#18Financial & Performance Highlights | Logistics Logistics Margins GP% EBITDA% 36% 40 80 100 25% 22% 30 25 23% 23% 22% 23% 19% 19% 20 15% 20 20 15% 16% 15% 15% 14% 15 11% 10 10 5 0 0 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q4 FY 2022 FY 2023 2023N* *Q4 2023 margins were normalized to remove the impact of a one-off settlement which provided a positive boost to the profitability of this product during the quarter aramex delivery unlimited • . . High-growth sectors retail, e-commerce and industrials remain the top revenue contributors to the growth of the Logistics product. The UAE operations in particular have made significant progress, while management remains focused on growing the product in other key markets. Cautiously optimistic, we employ a localized strategy per market to ensure we meet client demands in a fast-changing environment and have a healthy pipeline of new business in 2024 Looking ahead to 2024, management focus is to: • • Grow Footprint - expanding our warehouse space in our core markets in UAE, Saudi, Egypt, Morocco, South Africa, India. Our deep knowledge in specialized sectors such as energy, retail and e- commerce fulfillment alongside investment in technology are key competitive differentiators in our key markets. Improve Utilization - increasing capacity in our fulfillment centers by optimizing space usage and design; as well as bringing in more volumes to existing warehouses Page 18#19I Group Financial Results LO 17#20GROSS PROFIT REVENUE Financial & Performance Highlights | Product Contribution to Revenue and Gross Profit Q4 2023 vs Q4 2022 (in USD million) Y-o-Y 8% -4% -9% -4% -4% Growth 418 13 -1% --10 415 0 aramex Contribution to Group (in % of total) 7% 1% 24% 43% Express Q4 2023 Freight Forwarding Domestic 25% Q4 2022 Express Domestic Freight Forwarding Logistics Other Q4 2023 Y-o-Y 16% -18% -14% 13% -2% 5% 3% Growth 20% 34% 22% 14% 19% Q4 2023 58% +2% 14% 104 106 -5 -2 0 Q4 2022 Express Domestic Freight Forwarding Logistics Other Q4 2023 X% Represents Margin in % of Revenue Logistics Other Express Freight Forwarding Domestic Logistics Other* Page 20#21Financial & Performance Highlights | Group Highlights Q4 2023 & FY2023 Revenue (USD 000) 418 -1% 415 Gross Profit (USD 000) -1% 24.8% 25.5% 24.0% 25.1% 1,614 1.550 1,591 +2% 103,674 105,845 Q4 2022 Q4 2022 Q4 2023 Q4 2023 FY 2022 FY 2023 FY 2023 excl FX +3% 387,819 388,534 400,973 FY 2022 FY 2023 FY 2023 Excl FX X% Represents Margin in % of Revenue Q4 2023 Group revenue was USD 415m, down 1% YOY and FY revenue was USD 1.5 billion, impacted by global headwinds and FX translations. The double-digit revenue growth in international express was offset by the decline in freight revenues due to the decline in industry rates Management continues to prioritize quality revenue, operational efficiency and cost optimization through the economic cycle delivering 2% YoY growth in reported Gross Profit in Q4 2023, reaching USD 389m gross profit for the full year. Margins improved one percentage point YoY in Q4 2023 and FY 2023. Currency translation impacted Revenue and GP negatively by USD 40 million and USD 12 million, respectively. Excluding FX, full year Revenue decline was 1% compared to the reported 4% decline and Gross Profit growth was 3% compared to the reported 0% growth for the full year 2023 compared to the year 2022. Page 21#22Financial & Performance Highlights | Group Highlights Q4 2023 & FY2023 SG&A (USD 000) 20.9% 19.5% 19.9% 20.6% -1% 321,674 319,561 -7% 87,167 81,017 EBITDA (USD 000) 9.7% 13.0% 10.4% 11.0% 40,420 +33% +2% 53,752 167,185 170,923 Q4 2022 Q4 2023 FY 2022 FY 2023 Q4 2022 Q4 2023 FY 2022 FY 2023 X% Represents Margin in % of Revenue Consolidated Group SG&A declined for both the Q4 2023 and FY 2023 periods, reflecting the Company's agility in cost management, and reaching pre- pandemic levels for the cost structure. Notably, selling expenses for the organic business increased 7% in 2023 compared to 2022, in line with the Company's strategy to increase sales competencies in key verticals across key markets and G&A for the organic business declined 10% in 2023 compared to 2022. Q4 2023 EBITDA increased significantly, benefitting from increased focus on quality revenues and efficiencies across the Group. Consequently, the EBITDA margin increased to 13% in Q4 2023 and to 11% for the full year period. FY 2023 EBITDA reached USD 171 million, up 2% YoY despite the revenue softness and indicating our success in managing costs and operational efficiencies. Page 22#23Financial & Performance Highlights | Group Highlights Q4 2023 Net Income (USD 000) 2.2% 5.0% 2.8% 2.3% +127% 1 -22% 20,908 45,030 35,206 9,221 Q4 2022 Q4 2023 FY 2022 FY 2023 X% Represents Margin in % of Revenue Q4 2023 Net Income doubled compared to the same period last year, driven by the growth in EBITDA. Full year Net Incomes was USD 35 million. For the full year, Net Income witnessed a 22% decline YoY, attributed mainly to the increase in finance expenses associated with the MyUS acquisition loan taken in Q4 2022, and to a lesser extent, to the currency translation impact. Page 23#24Regional Breakdown | Q4 2023 vs Q4 2022 Regions (in thousands USD) aramex delivery unlimited GCC MENAT Europe America Rev Ctrb to Group 37% Rev Ctrb to Group 18% Rev Ctrb to Group 11% Rev & Grth GP & Grth 151,776 37,981 (8%) Rev & Grth Rev & Grth 73,242 38% 6% GP & Grth GP & Grth 19,826 32% Volumes 9,384,018 (3%) Volumes Volumes 7,598,924 52% 44,133 (17%) 6,600 (11%) 944,210 (42%) Rev Ctrb to Group Rev & Grth GP & Grth Volumes 10% 39,575 (4%) 10,244 (21%) 1,320,198 6% SS Africa North Asia South Asia Oceania Rev Ctrb to Group 5% Rev & Grth GP & Grth Volumes 19,165 7,469 1,367,576 (16%) 4% (12%) Rev Ctrb to Group Rev & Grth 3% GP & Grth Volumes 12,221 (10%) 2,565 (32%) 211,079 (18%) Rev Ctrb to Group Rev & Grth GP & Grth 8% 31,947 9% 6,633 14% Rev Ctrb to Group Rev & Grth GP & Grth 9% 39,283 5% Volumes 1,201,317 12% Volumes 5,404 (38%) 12,178,942 3% 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 24#25Regional Breakdown | FY 2023 vs FY 2022 Regions (in thousands USD) aramex delivery unlimited GCC MENAT Europe America Rev Ctrb to Group 39% Rev Ctrb to Group 14% Rev Ctrb to Group 12% Rev & Grth 598,676 (6%) Rev & Grth Rev & Grth 212,331 GP & Grth 145,141 13% GP & Grth 57,764 0% (3%) GP & Grth Volumes 38,102,822 (1%) Volumes Volumes 21,969,915 18% 192,767 (5%) 27,722 (15%) 4,994,756 (10%) Rev Ctrb to Group Rev & Grth GP & Grth Volumes 10% 158,582 54% 46,045 105% 4,992,241 9% SS Africa North Asia South Asia Oceania Rev Ctrb to Group 5% Rev & Grth GP & Grth 81,282 29,551 Volumes 5,597,503 (14%) (8%) (11%) Rev Ctrb to Group Rev & Grth 3% Rev Ctrb to Group 7% GP & Grth Volumes 42,414 (46%) 9,993 (54%) 862,091 (39%) Rev & Grth GP & Grth Volumes 113,080 (15%) 23,194 7% 4,365,236 4% Rev Ctrb to Group Rev & Grth GP & Grth Volumes 9% 141,394 (2%) 22,985 (33%) 42,453,699 (1%) 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 25#26USD Millions FCF Evolution Financial & Performance Highlights | Group Free Cash Flow Free Cash Flow = Cash Flow from Operating - (Lease Repayments + Interest Expense ROU) - CapEx 200 0.4 133.8 150 0.3 66.1 86.5 0.2 100 74.7 54.4 37.3 50 -12.7 9.6 2.7 23.8 0.1 17.3 -29.4 14.8 10.6 -4.5 16.0 0 0 -0.1 -50 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 -0.2 -100 2020 2021 2022 2023 -0.3 -150 -0.4 -200 -0.5 -250 -214.0 -0.6 aramex delivery unlimited FCF QTD Normalized IFCF QTD -FCF-to-Sales QTD Free Cash Flow in Q4 2023 was USD 16 million, higher than Q4 2022 due to improvements in the working capital. Sequentially, Free Cash Flow in Q4 2023 is lower than Q3 2023 mainly due to negative cash flows from PPE investing activities. Free Cash Flow in Q4 2022 includes the consideration paid for the acquisition of MyUS. Normalised Free Cash Flow in Q4 2022 was $86.5 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 26#27Financial & Performance Highlights | Healthy balance sheet, conservative leverage, and strong cash position aramex delivery unlimited Balance Sheet Highlights (in USD thousands) 31 Dec 2022 31 Dec 2023 Change Change % Current assets Assets held for sale Non-current assets Total assets Current liabilities 594,402 526,053 (68,349) -11.5% 1,789 1,334 (455) -25.4% 1,062,718 1,059,456 (3,262) -0.3% 1,658,909 1,586,843 (72,066) -4.3% 412,501 353,588 (58,913) -14.3% Liabilities held for sale 1,336 796 (540) -40.4% Non-current liabilities 559,349 560,477 (1,128) 0.2% Total liabilities 973,185 914,861 (58,324) -6.0% Non-controlling interest equity 2,414 1,785 (629) -26.1% Equity Attributable to equity holders 683,310 670,197 (13,113) -2.0% Total equity 685,724 671,982 (13,742) -1.9% Key Ratios Net Debt TO EBITDA 2.3x 2.4x Debt to Equity 87.5% 84.0% Debt to Equity (Excluding IFRS 16) 50.1% 45.4% Page 27#28aramex | Investor Relations Contacts Nicolas Sibuet Chief Financial Officer Anca Cighi Investor Relations Officer Investor Relations Investor [email protected] Tel +971 4 211 8464 Dubai - UAE aramex.com/investors Page 28