Overview materials March 2020 Disclaimer IMPORTANT NOTICE This - - PowerPoint PPT Presentation

March 2020

Overview materials

2

Disclaimer

IMPORTANT NOTICE This presentation includes forward-looking statements. All statements other than statements of historical facts contained in this presentation, including statements regarding our future results of operations and financial position, industry dynamics, business strategy and plans and our objectives for future operations, are forward-looking statements. These statements represent our opinions, expectations, beliefs, intentions, estimates or strategies regarding the future, which may not be realized. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “targets,” “projects,” “believes,” “estimates”, “potential” or “continue” or the negative of these terms or other similar expressions that are intended to identify forward-looking statements. Forward-looking statements are based largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business

• perations and objectives, and financial needs. These forward-looking statements involve known and unknown risks, uncertainties, changes in circumstances that are difficult to predict

and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed

• r implied by the forward-looking statement. Moreover, new risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all

factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this presentation may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. We caution you therefore against relying on these forward-looking statements, and we qualify all of our forward-looking statements by these cautionary statements. The forward-looking statements included in this presentation are made only as of the date hereof. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that the future results, levels of activity, performance or events and circumstances reflected in the forward-looking statements will be achieved or

• ccur. Moreover, neither we nor our advisors nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements. Neither we nor our

advisors undertake any obligation to update any forward-looking statements for any reason after the date of this presentation to conform these statements to actual results or to changes in our expectations, except as may be required by law. You should read this presentation with the understanding that our actual future results, levels of activity, performance and events and circumstances may be materially different from what we expect. This presentation includes certain financial measures not presented in accordance with IFRS including but not limited to Adjusted EBITDA. These financial measures are not measures

• f financial performance in accordance with IFRS and may exclude items that are significant in understanding and assessing the Company’s financial results. Therefore, these

measures should not be considered in isolation or as an alternative to loss for the period or other measures of profitability, liquidity or performance under IFRS. You should be aware that the Company’s presentation of these measures may not be comparable to similarly titled measures used by other companies, which may be defined and calculated differently. See the appendix for a reconciliation of certain of these non-IFRS measures to the most directly comparable IFRS measure. The trademarks included herein are the property of the owners thereof and are used for reference purposes only. Such use should not be construed as an endorsement of the products or services of the Company.

3

Jumia overview Financial highlights Appendix

4

Africa is a massive market

1.3Bn

Population(1)

17mm

SMEs and merchants(2)

523mm

Internet users(1)

$4.0tn

Household and B2B spending(3)

Sources: Euromonitor, Oxford Economics, IHS, McKinsey Global Institute Analysis, United Nations Notes: 1. As of June 2019 2. Categorized by the World Bank Group Finances as “informal” enterprises in Sub-Saharan Africa 3. Household, consumer and B2B spending data as of 2015

5

Our mission: Leverage technology to improve everyday life in Africa

Jumia delivers innovative, convenient and affordable

• nline services to consumers

in Africa that help them fulfill basic everyday needs Jumia takes the entire African economy online, helping small and large businesses grow and reach new consumers Jumia creates jobs and skills that empower a new generation in Africa to build their lives and make their countries better Providing new services Enabling SMEs to grow Creating sustainable impact

6

We are the leading pan-African e-commerce platform

One brand, single sign-on, full integration Jumia Marketplace JumiaPay Jumia Logistics

Annual Active Consumers1

6.1mm

Transactions via JumiaPay5

29%%

GMV3

€1bn

Active Sellers2

>110K

Notes: 1. As of December 2019 2. As of December 2019, Active Sellers defined as unique sellers who received an order on our marketplace within the 12-month period preceding the relevant date, irrespective of cancellations or returns 3. As of December 2019, for the precedent 12-month period 4. For the 12-month period ending December, 31 2019 5. % Orders completed using JumiaPay in 2019 at group level, irrespective of cancellations or returns

Orders4

27mm

Order a pizza Buy a smartphone Pay your bills Buy your groceries Recharge your data plan Buy shoes …And many more

7

• f Africa’s

Internet users(3)

~70%

Our pan-African presence is a huge asset

Jumia’s footprint

• f Africa’s GDP(2)

70%+

People(1)

~600MM

Sources: Euromonitor, Statcounter Globalstats as of 2019 Notes:

• 1. IMF and Datastream as of 2019
• 2. Internet World Stats as of 2019

Best practice sharing Natural partner for global brands

Pan-African presence provides strong strategic benefits

Talent attraction and retention Macroeconomic diversification Economies of scale

Nigeria South Africa Kenya Uganda Egypt Morocco Algeria Ghana Cote d’Ivoire Tunisia Senegal

8

Our platform is custom built for Africa

8

Our seller

platform

Our

brand

Jumia

Logistics

Jumia

Pay

Our team and culture Our technology and data Our integrated

ecosystem

Scalable

platform with

deep local expertise

9

9%

Electronics

Split of number of items sold by category, 2019 (%)

13%

Digital Services(1) Other

3%

12%

Phones

9%

FMCG(2)

Notes:

• 1. includes services offered via the JumiaPay app, Jumia One. Excludes Hotels and Flights booking services
• 2. Fast-moving consumer goods

Beauty & Perfumes

10%

Our integrated ecosystem drives consumer engagement

20%

Fashion

12%

Home & Living

10%

Food Delivery

Fashion Phones FMCG(2) Electronics Beauty & Perfumes Utilities Bill Payment Home Classifieds STRONG VALUE PROPOSITION Through Broad Product and Service Offering Food Delivery Airtime Recharge Instant Delivery

10

We provide sellers with an attractive value proposition

Local Language Access to Large and Growing Consumer Base Localized seller center interface Integration with Jumia Logistics Access to Financial Services Unique Data and Insights Brand Building and consumer targeting Local Language BRANDS LOCAL SELLERS CROSS- BORDER SELLERS Marketplace

11

We deliver a superior, localized experience to consumers

Local Language

Selection, Price and Convenience Local Language Local Currency Product Quality / Consumer Protection Local and Secure Payments Fast and Reliable Delivery

Marketplace

12

The launch of Jumia Mall further enhances our value proposition for brands and consumers

Key benefits for brands Key benefits for consumers

Tailored e-shop and content Product authenticity Warranty available Faster delivery Jumia Express: effortless fulfillment Marketing & data analytics

c.500

e-shops

c.35k

Live product listings

1

c.50%

• f Forbes top

100 brands

2 1

Strong momentum at launch

Selected brands

Notes: 1. As of September 30, 2019 2. Forbes top 100 consumer brands

13

Our well-recognized and highly-trusted brand wins over African online shoppers

HIGH LOYALTY PREFERRED ONLINE DESTINATION TRUSTED BRAND

89%

• f Jumia shoppers

would recommend it to a friend

Sources: Sagaci Research Jumia brand surveys in Nigeria, Kenya, Morocco and Ivory Coast, February 2019. Company calculations based on an average of the total amount of respondents from each country Notes:

• 1. % of online shoppers who bought on Jumia within the last 12 months prior to the survey date

78%

• f online shoppers

bought on Jumia over the last twelve months (1)

88%

• f Jumia shoppers over the

last twelve months said they repurchased on Jumia over the same period

14

As consumer adoption of e-commerce grows, we are well positioned for growth

BARRIERS TO UNLOCK (1) “I don't know how to shop” “I don't think products are genuine when purchasing online” “I cannot check the quality

• f the products”

Sources: Sagaci Research Jumia brand surveys in Nigeria, Kenya, Morocco and Ivory Coast, February 2019. Company calculations based on an average of the total amount of respondents from each country Note:

• 1. Three main answers from surveys respondents

HIGH RECOGNITION

74%

• f respondents

who are non online shoppers know Jumia HIGH CONSIDERATION

62%

• f non online shoppers who know

#Jumia consider Jumia for trial in the next 6/12 months

15

Jumia Logistics is a technology and data-driven answer to Africa’s logistics challenges

Sources: Company information

EXTENSIVE PARTNER NETWORK POWERED BY JUMIA TECHNOLOGY WIDE PHYSICAL PRESENCE

Logistics partners ranging from individual entrepreneurs to large companies Broad set of proprietary data and technology tools Seller drop-off network + warehousing facilities + consumer pick-up-stations

16

50% 25% 25%

Jumia Logistics is scalable, asset-light, and a key competitive barrier

WAREHOUSING INBOUND DELIVERIES PICKING & PACKING LAST-MILE & PAYMENT TRACKING RETURN HANDLING

SCALE

~13MM

packages1

5x peak volume

ASSET-LIGHT

5.9%

PP&E of total assets2

Rural Areas Primary Cities Secondary Cities

3rd party

monetization potential

MONETIZATION

for 2018 Packages delivered per region

OMNIPRESENCE CONTROL

92%

• f deliveries

are with fully integrated partners

Sources: Company information Notes:

• 1. For the full year 2018
• 2. Calculated based on property, plant and equipment as of September 30, 2019 over Total assets as of December 31, 2019
• 3. For Jumia’s 5 biggest markets: Nigeria, Egypt, Kenya, Morocco and the Ivory Coast

17

E-commerce is a strong driver of online payments adoption

18

Jumia’s ecosystem is a powerful flywheel to drive payments adoption

1bn+

Visits

60k+

Independent Sales Consultants

Note: Data for the full year 2019

6.1mm

Annual Active Consumers

110k+

Annual Active Sellers

~200

Third Party Logistics Partners

~600

Pick-Up Stations

19

JumiaPay powers our ecosystem through digital payments and financial services

Financial Services marketplace On-platform payment processing

Financial institutions Credit scoring Financing Wealth management Insurance to Connecting

CONSUMERS SELLERS

~ €4.5mm

• f loans originated

~ 5-month

Average duration Financial institutions Sellers

~ €3,200

Average loan amount

~ 770

Unique Sellers Airtime Electricity TV Water

Illustration: launch of JumiaPay app in Kenya Illustration: snapshot of Jumia Lending1

• Integrate relevant digital payment methods locally
• Remove friction at checkout
• Prepayment penetration enhances operational

efficiencies

• Constant improvement of customer experience

through new feature launches

• Currently available in 6 markets

ONLINE MERCHANTS OFFLINE MERCHANTS

Future off- platform payment processing

• Payment services
• Online distribution
• Payment services
• OTC Agency

Notes:

• 1. Data as of September 30, 2019. Amount of loans originated and Unique Sellers are cumulative figures, starting from January 2017

20

A scalable and proprietary technology platform – custom-built for the needs of e-commerce in Africa

TECHNOLOGY PLATFORM

Logistics Payments & Lending Consumer Growth Consumer Engagement Shop Management Infrastructure Business Intelligence

Fleet Management Mobile Wallet Web & Native Apps CRM System Merchandising System Single Sign-On Real-time Reporting 3PL Integrations Payment Integration Marketing Automation Loyalty Program Automated Personalization Joint Consumer Database Demand Forecasting Carrier Optimization Credit Scoring Attribution Modeling Onsite Search Merchant Platform ERP Integration Data Science platform … … … … … … …

21

Powerful data insights that benefit the whole ecosystem

Better processes Enhanced consumer view Better pricing Personalized engagement

JUMIA LOGISTICS JumiaPay

Traffic Purchase Product Trends Feedback Shipping Info Location Smart route Purchase data Fraud Events Validated Transactions Refunded Transactions Payment Method Consumer Returns

JUMIA MARKETPLACE MORE VALUE FOR JUMIA MORE VALUE FOR CONSUMERS MORE VALUE FOR SELLERS

Real-time analytics Single view

• f consumer

Personalization More relevant offering Faster and better delivery Enhanced experience Inventory management Tailored marketing

DATA WAREHOUSE

22

Think big and act fast When there is a will there is a way Fly high and dive deep

Simple is smart

Think, decide, and execute nimbly

Innovate with thriftiness

You don’t need a title to be a leader Let the best people and ideas grow Play for the team

Do what is right, not what is easy

Work hard, dance hard

Strong corporate culture – our values drive our actions

92%

I am proud to be a part of Jumia family

92%

I understand the vision of Jumia

96%

I am committed to the success of Jumia

Sources: Company information, Internal HR Survey of Jumia employees as of 2018

23

Jumia overview Financial highlights Appendix

24

Q4 2019 highlights

Notes:

• 1. Adjusted EBITDA loss excludes €2.2mm of restructuring G&A expense related to portfolio optimization and headcount rationalization initiatives

Growth Rebalancing of mix towards higher consumer lifetime value business Cost efficiency Portfolio optimization and headcount reductions Monetization Promotional discipline and continued progress on Marketing & Advertising JumiaPay Continued volume and transaction momentum

6.1mm

Annual Active Consumers

49%

YoY Orders Growth

57%

YoY TPV Growth

110%

YoY JumiaPay Transactions Growth

50%

YoY Marketplace Revenue Growth

64%

YoY Gross Profit Growth

€1.0mm

Gross Profit after Fulfillment Expense

5.4%

YoY Adjusted EBITDA loss1 Growth

25

Beauty Phones & Accessories Electronics

We are rebalancing our business mix towards higher consumer lifetime value business

Digital services1 Food Delivery Fashion Home & Living Other2

GMV contraction concentrated in selected categories Sustained volume momentum across categories

Notes: Charts are on different scales and exclude Jumia Travel categories: flights and hotel bookings

• 1. Digital Services includes services offered on the JumiaPay app. Digital Services grew at almost 100% in GMV terms and above 130% in terms of Items Sold
• 2. “Other” product categories includes auto accessories, books etc.

(20)% 20% 50% 20% 50% 80%

Q4 2019 - GMV YoY Growth Q4 2019 – Items Sold YoY Growth

0% 0%

Enhanced promotional discipline in selected categories

FMCG

26

Robust growth of topline drivers

(3)%

GMV1

€mm

Annual Active Consumers

mm

311.0 301.2

Q4 2018 Q4 2019

4.0 6.1

Q4 2018 Q4 2019

54%

Orders

mm

5.5 8.3

Q4 2018 Q4 2019

49%

Notes:

• 1. Adjusting for perimeter changes as a result of the portfolio optimization undertaken during Q4 2019, as well as previously reported improper sales practices, GMV of Q4 2019 would have been €293 million, up 6%

from €275 million in Q4 2018.

27

4.3 4.8 5.1 5.3 6.9 6.9 2017 2018 2019

Strong repeat purchase momentum across our cohorts

Notes:

• 1. Active consumers that have placed more than one order on the platform during the period
• 2. Average Order Value calculated as total repeat consumer spend for the year divided by number of Orders placed during the relevant year

Cohort Year 1 Cohort Year 2 Cohort Year 3

Annual Orders by repeat consumers1 by cohort Average Order Value2 for repeat consumers1 by cohort (€)

57 50 38 56 41 43 2017 2018 2019

28

Consumer engagement case study: Black Friday 2019

Curated content Gamification features Tailored marketing

29

We continue to expand the range and relevance of JumiaPay services for both consumers and sellers

Consumer facing initiatives Extended range of services on JumiaPay app

Financial services Money Market Fund Everyday services University tuition fees Gamification features Shake & Win

Mastercard commercial activities

Mastercard Tuesdays UEFA Champions League

Merchant facing initiatives JumiaPay Business platform pilot

Payment Financial services Marketing tools JumiaPay business wallet for merchant settlement Working capital loans for Jumia sellers Consumer wallet top-up

30

JumiaPay Total Payment Volume (“TPV”)

€mm

JumiaPay TPV as % of GMV

57%

% on-platform penetration

580bps

JumiaPay TPV grew by 57% taking on-platform penetration to 15% of GMV

29.1 45.6

Q4 2018 Q4 2019

9.4% 15.2%

Q4 2018 Q4 2019

31

JumiaPay Transactions

mm

JumiaPay Transactions as % of total Orders

110%

% on-platform penetration

852bps

JumiaPay transactions grew by 110% taking on-platform penetration to 29% of total orders

1.2 2.4

Q4 2018 Q4 2019

21.0% 29.5%

Q4 2018 Q4 2019

32

Marketplace revenue growth

€mm

Gross profit

50%

€mm

64%

In parallel with growing Jumia usage, we are driving further monetization of our platform

17.3 26.0

Q4 2018 Q4 2019

15.2 24.8

Q4 2018 Q4 2019 Gross profit % of GMV

4.9% 8.2%

1 1

Notes:

• 1. Q4 2018 period has been restated to reflect the impact of the reclassification of certain types of vouchers, consumer and partner incentives from Sales & Advertising expense to Revenue. The reclassification affecting Gross

profit is €0.5mm, of which €0.4mm affecting Marketplace revenue. Reclassification details have been provided in our report on third quarter results, dated November 12, 2019.

33

We monetize the usage of Jumia through diversified revenue streams

Marketplace revenue breakdown

€mm

Notes:

• 1. Value Added Services are included in “Other revenue” in our consolidated financial statements
• 2. Q4 2018 period has been restated to reflect the impact of the reclassification of certain types of vouchers, consumer and partner incentives from Sales & Advertising expense to Revenue. The reclassification

affecting Commissions revenue in Q4 2018 is €0.4 million. Reclassification details have been provided in our report on third quarter results, dated November 12, 2019.

YoY Growth 22% 120% 52% 62%

Marketing & Advertising Value Added Services1 Fulfilment Commissions2 Q4 2018 Q4 2019

50%

17.3 26.0

34

Jumia Advertising is our dedicated offering for sellers and third-parties to benefit from our unique reach and data

Selected ad solutions

Sponsored Product Ads Sponsored Brands Stores CRM

Features in newsletter / push notifications

Benefits for advertisers Drive measurable results (e.g. campaign reporting) Granular targeting of audience Ability to engage consumers at different stages of their journey Sponsored Display

35

24.8

Gross Profit after fulfillment expense turned positive in Q4 2019

(2.1) 15.2 Q4 2018 Q4 2019

Gross Profit Fulfillment expense

Gross Profit after Fulfillment expense

(23.9) (17.2)

€mm

1.0

€mm

36

100 97 82 76 Q1'19 Q2'19 Q3'19 Q4'19

Increased volumes drive fulfillment cost efficiencies

Case study

Small and medium sized packages – Nairobi, Kenya

# of Packages (‘000) (24)%

Freight & Shipping cost per package1 Number of packages1

100 108 162 228 Q1'19 Q2'19 Q3'19 Q4'19 128%

Number of logistics partners

13 16 23 29 Q1'19 Q2'19 Q3'19 Q4'19 123%

Notes: Charts are on different scales.

• 1. Rebased to 100 in Q1 2019

37

Sales & Advertising expense

€mm

Annual Sales & Advertising / Annual Active Consumer

14%

€/ Annual Active Consumer

(21)%

Strong discipline drives Sales & Advertising efficiencies

13.6 15.5

Q4 2018 Q4 2019

11.6 9.2

FY 2018 FY 2019

Notes:

• 1. 2018 periods have been restated to reflect the impact of the reclassification of certain types of vouchers, consumer and partner incentives from Sales & Advertising expense to Revenue. This reclassification amounted to €0.5

million in the fourth quarter 2018 and €1.5 million for the full year 2018. The cumulative effect for the nine months ended September 30, 2019 was included in the results for the three months ended September 30, 2019. Reclassification details have been provided in our report on third quarter results, dated November 12, 2019

1 1

38

G&A overview

General, Administrative1 (“G&A”) and Tech2 expense

€mm

33.5

18%

26.9 31.7 6.6 7.7

Q4 2018 Q4 2019 G&A excluding SBC and restructuring Tech expense

39.4 G&A expense split

% Q4 G&A expense, excluding SBC and restructuring G&A expense

3

Notes:

• 1. Excluding Share Based Compensation expense
• 2. Technology & Content expense

3. Excluding restructuring expense of €2.2mm as part of our portfolio optimization and headcount rationalization initiatives 4. Other G&A includes office and infrastructure costs

Staff costs D&A, provisions and

• ther non-cash

expense Other G&A Professional fees & sub-contracts

4

39

Q4 2018 Q4 2019

Improving unit economics

Smaller-sized, more profitable orders Adjusted EBITDA

€mm

(48.6) (51.2)1

Notes: 1. Excluding restructuring expense of €2.2mm as part of our portfolio optimization and headcount rationalization initiatives 2. Average Order Value calculated as GMV divided by number of Orders 3. Opex includes Sales & Advertising expense, Technology & Content expense and G&A, excluding SBC and D&A. 2019 G&A excludes restructuring expense highlighted above 4. Adjusted EBITDA loss includes net other operating loss per order of €0.01 in Q4 2018 and net other operating income per order of €0.04

Q4 2018 Q4 2019 Average Order Value (AOV2) €56.2 €36.4 Gross Profit / Order €2.74 €3.00 As % of AOV 4.9% 8.2% Gross Profit after fulfillment expense / Order €(0.37) €0.12 Opex3 / Order €(8.39) €(6.35) Adjusted EBITDA loss1,4 / Order €(8.78) €(6.19)

40

We continue to pursue our asset-light strategy and have a cash balance of €232mm at the end of Q4 2019

ASSET-LIGHT AND CAPEX LIGHT CAPEX1 FY 2019

€5.7mm

ADJUSTED EBITDA IS A CLOSE PROXY OF CASH UTILIZATION Delta between Cash from

• perations and Adj. EBITDA3

<1.5%

LIMITED WORKING CAPITAL REQUIREMENTS Net change in Working Capital2 FY 2019

€11.1mm

CASH AVAILABLE4

€232mm

Notes

• 1. Corresponds to Purchase of Property and Equipment, as presented on the Cash Flow Statement
• 2. Based on Working Capital Adjustments, as presented on the Cash Flow Statement. Corresponds to a cash outflow of €11.1mm
• 3. Calculated as the delta between Net Cash Flows Used in Operating Activities and Adjusted EBITDA for FY 2019
• 4. Includes Cash and Cash equivalents of €170mm and €62mm of Term Deposits as of December 31, 2019

41

2019 wrap-up

• Assortment relevance: every-day product categories, digital services
• Improvement of consumer value proposition: Jumia Mall, Jumia Prime
• Enhanced user interface: on-site user flow, recommendation algorithm
• Volume driven Fulfillment costs savings
• Enhanced Sales & Advertising efficiencies
• Portfolio optimization
• Rebalancing of mix towards higher consumer lifetime value business
• Build-out of Marketing & Advertising revenue stream
• Enhanced promotional discipline
• Mastercard investment and strategic partnership
• Expanded geographical footprint: JumiaPay live in 6 countries1
• Increased range of payment and digital services on JumiaPay app

Notes:

• 1. Nigeria, Egypt, Morocco, Kenya, Ivory Coast and Ghana
• 2. Growth between the full year periods 2018 and 2019
• 3. Annual Sales & Advertising expense per Annual Active Consumer, reduction between the full year periods 2018 and 2019

Growth Cost efficiency Monetization JumiaPay

Illustrative initiatives

6.1mm

Annual Active Consumers

278%

YoY JumiaPay Transactions growth2

72%

YoY Gross profit growth2

(21)%

YoY reduction in S&A3 per Annual Active Consumer

42

Cloud and other digital services

We are building the winning platform in Africa

Notes: The list above shows a selection of relevant peers businesses in each vertical. This list is for illustrative purposes only 1. Euromonitor 2017

E-commerce Logistics Payment/Fintech Food and on- demand delivery Digital entertainment Marketing & Advertising E-commerce penetration

2. E-marketer 2017 3. US Census Bureau, Q4 2018 Adjusted for Seasonal variation

0.6%

2.4% 9.9% 20.4%

(1) (3) (1) (2)

43

Jumia overview Financial highlights Appendix

44

Non-IFRS Reconciliation (1/2)

For the three months ended December 31 (€ mm) 20182 2019 Marketplace revenue1 17.3 26.0 Commissions 5.2 8.4 Fulfillment 5.8 8.9 Marketing & Advertising 1.1 2.3 Value Added Services 5.3 6.4 First Party revenue 25.7 23.0 Platform revenue 43.0 49.1 Non-Platform revenue 0.2 0.2 Revenue 43.3 49.3 Cost of revenue (28.1) (24.4) Gross Profit 15.2 24.8

• 1. Revenue from Marketplace calculated as the sum of revenue from Commissions, Fulfillment, Marketing and Value Added Services, excluding First Party revenue and Non-Platform revenue.
• 2. 2018 period has been restated to reflect the impact of the reclassification of certain types of vouchers, consumer and partner incentives from Sales & Advertising expense to Revenue. This reclassification amounted to €1.5 million for the

full year 2018. The cumulative effect for the nine months ended September 30, 2019 was included in the results for the three months ended September 30, 2019. Reclassification details have been provided in our report on third quarter results, dated November 12, 2019

45

Non-IFRS Reconciliation (2/2)

For the three months ended December 31 (€ mm) 2018 2019 Loss for the period (53.1) (63.6) Income tax expense 0.4 0.5 Finance (income)/costs – net (0.3) 2.0 Depreciation and amortization 0.6 2.3 Share-Based Compensation expense 3.7 5.3 Adjusted EBITDA (48.6) (53.4)

46

Selected Operating KPIs and financials

Notes:

• 1. Excluding SBC and restructuring expense of €2.2mm in Q4 2019

(€ million, unless stated otherwise) For the year ended December 31 YoY change 2017 2018 2019 2018 vs 2017 2019 vs 2018 Marketplace Operating KPIs GMV 507 828 1,098 63.3% 32.5% Annual Active Consumers (mm) 2.7 4.0 6.1 46.6% 54.2% Orders (mm) n.a. 14.4 26.5 n.a. 84.8% JumiaPay Operating KPIs JumiaPay TPV n.m. 55 124 n.m. 127.0% As % of GMV 6.6% 11.3% 1.7x JumiaPay Transactions n.m. 2.0 7.6 n.m. 278.2% As % of Orders 14.0% 28.7% 2.0x Selected Financials Gross profit 28.2 44.2 75.9 56.7% 71.7% Fulfillment expense (34.4) (50.5) (77.4) 46.5% 53.4% Gross profit after Fulfillment expense (6.2) (6.3) (1.5) 0.4% (76.2%) Sales & Advertising expense (37.9) (46.0) (56.0) 21.3% 21.7% Technology & Content expense (20.6) (22.4) (27.3) 9.0% 21.6% General & Administrative expense1 (62.8) (77.5) (105.1) 23.5% 35.5% Adjusted EBITDA loss1 (126.8) (150.2) (180.5) 18.4% 20.2% Economics per Order Gross profit after Fulfillment expense n.a. (0.44) (0.06) n.a. (87.1%) Sales & Advertising expense n.a. (3.21) (2.11) n.a. (34.1%) Technology & Content expense n.a. (1.56) (1.03) n.a. (34.2%) General & Administrative expense1 n.a. (5.40) (3.96) n.a. (26.7%) Adjusted EBITDA loss1 n.a. (10.46) (6.80) n.a. (34.9%) Economics as % of GMV Gross profit after Fulfillment expense (1.2%) (0.8%) (0.1%) 47bps 62bps Sales & Advertising expense (7.5%) (5.6%) (5.1%) 192bps 45bps Technology & Content expense (4.1%) (2.7%) (2.5%) 135bps 22bps General & Administrative expense1 (12.4%) (9.4%) (9.6%) 302bps (21)bps Adjusted EBITDA loss1 (25.0%) (18.1%) (16.4%) (687)bps (169)bps

47

Metrics definitions

• “Gross Merchandise Value”, or “GMV”, corresponds to the total value of orders for products and services including shipping fees,

value-added tax, and before deductions of any discounts or vouchers, irrespective of cancellations or returns

• “Orders” corresponds to the total number of orders for products and services on our platform, irrespective of cancellations or returns
• “Annual Active Consumers” corresponds to unique consumers who placed an order for a product or a service on our platform, within

the 12-month period preceding the relevant date, irrespective of cancellations or returns

• “Total Payment Volume”, or “TPV” corresponds to the total value of orders for products and services completed using JumiaPay

including shipping fees, value-added tax, and before deductions of any discounts or vouchers, irrespective of cancellations or returns

• “JumiaPay Transactions” corresponds to the total number of orders for products and services completed using JumiaPay, irrespective
• f cancellations or returns
• “Adjusted EBITDA” corresponds to loss for the period, adjusted for income tax expense, finance income, finance costs, depreciation

and amortization and further adjusted for Share Based Compensation expense