First quarter 2 0 1 9 results Analyst call Koe n Va n Ge rve n, - PowerPoint PPT Presentation

First quarter 2 0 1 9 results Analyst call Koe n Va n Ge rve n, CEO Ba udouin de H e pcé e, CFO a .i. Brussels – May 3, 2019

2 I nvestor presentation - I nterim financial report 1 Q1 9 Financial Calendar More on corporate.bpost.be/ investors 0 8 .0 5 .2 01 9 0 7 .0 8 .2 01 9 0 5 .1 2 .2 01 9 Ordinary General Meeting of ( 1 7 :4 5 CET) Ex-dividend date Shareholders Quarterly results 2Q19 0 9 .1 2 .2 01 9 1 3 .0 5 .2 01 9 0 6 .1 1 .2 01 9 Dividend payment date Ex-dividend date ( 1 7 :4 5 CET) Quarterly results 3Q19 1 5 .0 5 .2 01 9 0 2 .1 2 .2 01 9 Payment date of the dividend ( 1 7 :4 5 CET) I nterim dividend 2019 announcement Disclaim er This presentation is based on information published by bpost in its First Quarter 2019 Interim Financial Report, made available on May, 2 nd 2019 at 5.45pm CET on corporate.bpost.be/investors. This information forms regulated information as defined in the Royal Decree of 14 November 2007. The information in this document may include forward- looking statements 1 , which are based on current expectations and projections of management about future events. By their nature, forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other factors because they relate to events and depend on circumstances that will occur in the future whether or not outside the control of the Company. Such factors may cause actual results, performance or developments to differ materially from those expressed or implied by such forward-looking statements. Accordingly, no assurance is given that such forward-looking statements will prove to have been correct. They speak only as at the date of the Presentation and the Company undertakes no obligation to update these forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements. This material is not intended as and does not constitute an offer to sell any securities or a solicitation of any offer to purchase any securities. 1 as defined among others under the U.S. Private Securities Litigation Reform Act of 1995

1Q19 3 Highlights of 1 Q1 9 € 9 0 6 .8 m Group operating incom e € 9 5 .8 m Group norm alized EBI T 10.6% EBIT margin Mail & Retail • Total operating income at € 527.5m (-1.8% ) driven by vigorous mail volume decline € 9 2 .6 m • Underlying mail volume decline at -9.2% mainly driven by Transactional and Press 17.6% EBIT margin • Normalized EBIT mainly impacted by mail volume decline and wage drift Parcels & Logistics Europe & Asia • Total operating income at € 196.8m (+ 8.0% ) driven by Parcel BeNe up 11.1% € 1 8 .0 m • Parcel BeNe volume growth at + 16.9% driven by e-commerce 9.1% EBIT margin • Solid normalized EBIT margin improvement with volume growth only partly offset by higher costs Parcels & Logistics North Am erica • As anticipated, total operating income at € 228.5m (-5.2% ) mainly impacted by € -7 .8 m Radial customer churn and repricing -3.4% EBIT margin • Normalized EBIT mainly impacted by client churn & repricing in line with expectations 1 Q1 9 in line w ith expectations, on track for 2 0 1 9 outlook

1Q19 4 1 Q1 9 EBI T in line w ith expectations. Mail volum e decline, Radial custom er churn & repricing and w age drift drive YoY variance. Norm alized, € m illion 1 1 2 .3 -1 3 .2 -1 6 .5 6 .5 -8 .0 -1 .9 9 5 .8 EBI T Mail & Retail PaLo Eurasia PaLo N. America Corporate EBI T 1 Q1 8 1 Q1 9

1Q19 5 Key financials 1 Q1 9 € m illion Normalized 1 Reported I FRS1 6 % Δ 1 Q1 8 1 Q1 9 1 Q1 8 1 Q1 9 im pact Total operating income 916.5 906.8 916.5 906.8 -1.1% Operating expenses 773.3 755.7 773.3 755.7 -2.3% 25.5 EBI TDA 1 4 3 .2 1 5 1 .1 1 4 3 .2 1 5 1 .1 5 .5 % 2 5 .5 Amortization of Depreciation & Amortization 37.2 60.7 30.9 55.3 79.2% (24.2) intangibles EBI T 1 0 6 .0 9 0 .4 1 1 2 .3 9 5 .8 - 1 4 .7 % 1 .3 recognized during Margin (% ) 11.6% 10.0% 12.3% 10.6% PPA is normalized, leading to increase Financial result (2.9) (7.5) (2.9) (7.5) (2.0) in EBI T (€ + 5.4m) Profit before tax 9 9 .4 8 1 .5 1 0 5 .7 8 6 .9 - 1 7 .8 % ( 0 .7 ) and income tax expense (€ + 0.5m) Income tax expense 35.6 31.3 36.1 31.8 0.2 Net profit 6 3 .7 5 0 .2 6 9 .6 5 5 .1 - 2 0 .7 % ( 0 .5 ) FCF 1 5 1 .3 1 8 6 .1 1 7 1 .0 1 9 5 .4 1 4 .2 % 2 4 .7 bpost S.A./ N.V. net profit ( BGAAP) 7 2 .3 6 0 .1 7 2 .3 6 0 .1 - 1 6 .7 % Normalized FCF Net Debt at 3 1 March 1 4 5 .7 6 1 3 .1 1 4 5 .7 6 1 3 .1 4 2 5 .5 excludes the cash Radial receives on Average # FTEs and interims 34,830 33,966 34,830 33,966 behalf of its customers for performing billing services 1 Normalized figures are not audited

1Q19 6 Results by segm ent 1 Q1 9 Norm alized, € m illion PaLo PaLo M& R Eurasia N. Am. Corp Eliminations Group Ext ernal operat ing income 486.5 191.7 227.2 1.5 - 906.8 I nt ersegment operat ing income 41.1 5.1 1.4 84.7 (132.3) - Total operating income 527.5 196.8 228.5 86.2 ( 132.3) 906.8 Operat ing expenses 414.1 174.8 222.7 76.4 (132.3) 755.7 EBI TDA 113.4 22.0 5.9 9.8 151.1 Depreciat ion & Amort izat ion 20.8 4.1 13.7 16.7 55.3 EBI T 92.6 18.0 ( 7.8) ( 7.0) 95.8 Margin (% ) 17.6% 9.1% -3.4% -8.1% 10.6%

1Q19 – M&R 7 Higher than anticipated volum e decline across the board has negatively im pacted operating incom e M&R external operating incom e, € m illion Dom estic Mail operating income decline at € -7.6m: 1 Q1 8 4 9 7 .2 i.e. € -1.4m 1 working day less, € -28.8m volume (-9.2% underlying volume decline), € + 22.6m price/ mix. • Transactional Mail: -9.8% underlying volume decline driven -4 .3 Transactional by an increased push towards digital mainly in banking, telco and utilities sectors; higher acceptance of e-documents at the receivers’ side and to some extent volume losses at SMEs driven by digitization. -2 .5 Advertising • Advertising Mail: -7.6% underlying volume decline; growth from smaller accounts and growth in unaddressed more than offset by lower volumes from large customers. Press -0 .8 • Press: -8.7% underlying volume decline driven by e-substitution and rationalization mainly in periodicals. Proximity and convenience -2 .9 retail network • Decline in banking & finance and bpost retail partly compensated by higher Ubiway Retail revenues. Value added -0 .2 services • Higher revenue from traffic fines management offset by lower revenue from document management and e-ID services due to phase out of current e-ID cards. 1 Q1 9 4 8 6 .5 -1 0 .7

1Q19 – M&R 8 M&R EBI T im pacted by m ail volum e decline and w age drift Norm alized, € m illion Key takeaw ays 1 Q1 9 % Δ 1 Q1 8 1 Q1 9 • Total operating income decline of External operating income -2.2% 497.2 486.5 € -9.4m primarily driven by Transactional 199.6 195.4 -2.1% domestic mail volume decline, Advertising 63.4 60.9 -4.0% only partly compensated by price Press 88.7 87.9 -0.9% tailwind (3 months of SUB price Proximity and convenience retail network 119.9 117.0 -2.5% increase in 1Q19 vs. 1 month in Value added services 25.5 25.3 -0.8% 1Q18). Intersegment operating income 39.7 41.1 3.4% • IFRS 16 impact of € + 10.8m on Total operating incom e 5 3 6 .9 5 2 7 .5 - 1 .8 % operating expenses and € -10.2m Operating expenses 422.6 414.1 -2.0% on D&A. EBI TDA 1 1 4 .3 1 1 3 .4 - 0 .8 % • Normalized EBIT decline Depreciation & Amortization 8.5 20.8 (€ -13.2m) resulting from lower EBI T 1 0 5 .8 9 2 .6 - 1 2 .5 % total operating income (€ -9.4m) Margin (% ) 19.7% 17.6% and higher opex incl. D&A (€ -3.8m), mainly driven by Capex 5 .1 3 .6 increased depreciation and Average # FTEs and interim s 2 1 ,7 6 7 2 1 ,8 8 2 amortization (€ -2.1m excluding impact of IFRS 16) and higher Additional KPI s 1 payroll & interim resulting from the 2019-20 CLA and salary Underlying Mail volume decline - - 9 .2 % indexation, only partly Transactional - -9.8% compensated by less interims and Advertising - -7.6% a favorable evolution of the FTE Press - -8.7% mix. 1 As of 1Q19 Transactional Mail excludes outbound and Press includes Ubiway press distribution: 1Q18 operating income is restated, but not all comparable KPIs for 1Q18 are available

1Q19 – PaLo Eurasia 9 Continued solid organic BeNe & cross-border parcels volum e grow th PaLo Eurasia external operating incom e, € m illion 1 Q1 8 1 7 7 .5 • Reported volum e grow th of + 1 6 .9% (former Domestic Parcels and DynaLogic volumes) driven by e-commerce while partly offset by declining C2C sales. • Price increases more than offset by mix effect leading to a Parcels BeNe 8 .7 negative price/ mix. Driven by Active Ants 1 partly offset by revenue decline at • E-commerce 2 .7 DynaFix. logistics • Driven by higher parcels revenues from the UK partly offset Cross-border 2 .8 by lower parcels revenue from Asia and Rest of Europe. 1 Q1 9 1 9 1 .7 + 1 4 .2 1 Active Ants included in FY18 as of 1 April 2018 for 10 months, with 4 months in 4Q18.