just eat takeaway.com - company update

1 | March 2021 | Company Update

Company Update

March 2021


Introduction to

Just Eat Takeaway.com


Just Eat Takeaway.com connects consumers and restaurants…

Order is transmitted to restaurant via

proprietary hardware or directly into POS system

Delicious food enjoyed at home or at the office!

Order is delivered by the restaurant or through Just Eat Takeaway.com’s own delivery

solution, or is collected in person

Consumer searches on website or app, places order and makes

payment


…as a leading global online food delivery player

23Countries

244kRestaurants1

60mActive

Consumers1

>450mAddressable population1,2

13%Penetration1,3

Americas

Europe

Australia &New Zealand

Israel

Note: Light shaded orange colour indicates iFood partnership

Note: Numbers represent FY-2020, presented on the basis of the

combined results of Just Eat and Takeaway.com from 1 January 2020

1 Excluding Colombia and Brazil

2 Addressable population aged over 15 years

3 Represents the proportion of total active consumers over the total addressable population

>90% of GMV generated in markets

with a #1 position


Experienced founder-led management team…

Jitse Groen

Founder & Chief Executive Officer

Founded Takeaway.com in 2000

Brent Wissink

Chief Financial Officer

Joined Takeaway.com in 2011

Jörg Gerbig

Chief Operating Officer

Founded Lieferando.de in 2009

40 years of combined experience in food delivery

Founders of Takeaway.com, Lieferando.de,

Pyszne.pl and 10bis still active in the company

Proven track record of building leading positions in

markets of scale

Successful M&A executors and integrators with

significant capital markets expertise


…with a proven track record of integration and growth

2000

2001

2020

2007First international expansion with entry into Germany and Belgium

2012First external investment of €13m from Prime Ventures

2016IPO at Euronext Amsterdam; first Scoober city launched

2019Acquisition of Lieferheld, pizza.de and Foodorafrom Delivery Hero

2011Name change to Takeaway.com

2014Acquisitions of Lieferando.de and Pyszne.pl

2018Acquisition of 10bis in Israel, reflecting entry into B2B market

2006Just Eat launches in UK and moves HQ

2014IPO at London Stock Exchange

2016Acquisition of SkipTheDishesin Canada

2009First external investment of £10m from Index Ventures

2015Acquisition of Menulog in Australia

2018Acquisition of Hungry House in the UK

Jitse Groen launches Thuisbezorgd.nl in The Netherlands

Thuisbezorgd.nl

Launches in Denmark

Just Eat

All-share combination of Just Eat and Takeaway.com and listing on London Stock Exchange (“JET”)


Key highlights for 2020 show continued delivery on strategic targets

Operational Highlights Financial Highlights

Orders588m+42%

Delivery Orders155m+107%

GMV€12.9bn

+51%

Revenue€2.4bn

+54%

Consumers60m+23%

Restaurants244k+42%

Adj. EBITDA€256m

+18%

Adj. EBITDA Margin

11%

%

Note: Numbers are presented on the basis of the combined results of Just Eat and Takeaway.com from 1 January 2019


Our Business Model


Just Eat Takeaway.com leverages powerful network effects…

Network EffectsOur powerful network effects

fuel our ability to attract more new consumers,

compounding our growth

More Orders per Consumer

More Consumers

More OrdersMore

Restaurants

15.2Orders per year per Returning

Active Consumer

60mActive

Consumers

588mOrders

244kRestaurants

New ConsumersConsumers place order

(and make payment)

New RestaurantsJust Eat Takeaway.com

transmits order

Note: Numbers represent FY-2020, presented on the basis of the combined results of Just Eat and Takeaway.com from 1 January 2019


...as demonstrated in our KPI’s...

13.1 13.1 13.2

15.2

2017 2018 2019 2020

Order frequency of Returning Active Consumers3

% of Returning Active Consumers2

33m

63% 66%

Active Consumers1

60m

70%

40m+21%

1 Active Consumers refers to unique accounts (identified by a unique e-mail address) from which at least one order has been placed on the company’s platform in the preceding 12 months

2 Percentage of consumers who ordered more than once in preceding 12 months over total Active Consumers

3 The number of orders per Returning Active Consumer during the period divided by the average number of Returning Active Consumers

4 Total number of restaurants available on the platform at end of period

68%

48m+22% +23%

110

138

173

244

2017 2018 2019 2020

Total Online Restaurants4 (k)


…creating a sticky and highly stable consumer base

Cumulative orders per consumer by monthly cohort1 Order split by cohort1

0 12 24 36 48 60 72 84 96 2016

Months

Stable cohorts result in highly predictable revenues Majority of orders from existing cohorts

2016

2015

2014

2012

2013

2017

2018

2019

2020

2017 2018 2019 2020

2016

2015

2014

2012

2013

2017

2018

2019

2020

Pre 2012

588m

413m

310m

238m

183m

+55m

+72m

+103m

+175m

1. Cohort refers to consumers grouped by the calendar year in which they each first placed an order with Just Eat Takeaway.com

Source: Company information


Our Markets


Total food delivery market by segment1

A massive market opportunity exists…

€11bn

Germany

€6bn

Canada

€3bn

Netherlands€12bn

UK

€40bn

Rest of the World2

Food delivery market

c. €13bn

c. €72bn

Current food delivery in active markets1

Predominantly through offline ordering


GMV

1 Management estimates

2. Just Eat Takeaway.com’s other countries have been combined into an "all others" segment which is named 'Rest of the World’

3. Based on Euromonitor Consumer Foodservice forecast for 2025

Total food expenditure in active markets

estimated at over €500bn1,3


…with significant penetration upside…

Population aged 15+1

UK1 Germany2 Canada3 Netherlands2 Rest of the World4

Just Eat Takeaway.com Active Consumers

55m 72m 32m 15m 283m

29%

17% 17%

37%

7%


Total

13%

456m

100%

Source:

1 UK 2018 based population projection data for the year 2021 from Office for National statistics

2 Population projection as on 1st Jan 2021 for Germany, Netherlands, Belgium, Bulgaria, Denmark, Ireland, Spain, France, Italy, Luxembourg, Austria, Poland, Portugal, Romania, Switzerland and Norway from Eurostat

3 Population projection 2021 for Canada from Statscan

4 Population projection 2021 data for Israel from CBS.gov.il, Australia from Abs.stat and New Zealand from NZ.stat


…fueled by clear market leadership across our four largest markets

Google trends web search interest1

1st United Kingdom3 1st Germany 1st Canada 1st Netherlands

Source:

1 Google Trends for the period January 2004 up to and including December 2020, retrieved on 5 January 2021

2 Based on SimilarWeb site analysis data – Total visits for the stated websites for the period January 2020 to January 2021

3. Grocery is included for #2 & #3 under SimilarWeb visits

Jan-20 Jan-21

61%

22%

17%

Skewed towards new user addition

Jan-20 Jan-21

97%3%

45%

35%

20%

Jan-20 Jan-21

14%

81%

5%

#3#2 #2 #3#2 #3#2

Jan-20 Jan-21

54%

29%

17%

Jan-20 Jan-21 Jan-20 Jan-21 Jan-20 Jan-21

Based on SimilarWeb visits2

Indicative of total orders

58%

19%

23%

61%

24%

99%

1%

89%

7%4%

Jan-20 Jan-21

49%

27%

24%


iFood is a highly attractive and fast-growing asset

#1 online food delivery

company in LatAm…

Orders GMV

A highly attractive and fast-growing asset…

• ~80% market share in the Brazil market (~7 times #2)1

• Heavily urbanised population with rapid market growth

• Over 1,000 cities and 235,000 restaurants in Brazil alone

…with significant value to Just Eat Takeaway.com

• As a non-operated asset, iFood provides optionality to realise value in case an offer at fair value is received

• In case of a disposal, a portion of the sale proceeds is to be returned to shareholders

Note: Numbers represent FY-2020 numbers

1. Management estimate based on user web and app traffic, number of sessions and downloads

…doubling orders and more than doubling GMV in 2020

Just Eat

Takeaway.com

33%

Other

Movile

5%

Prosus

62%

Ownership structure

239

478

2019 2020

+100%

2019

1.5

2020

3.6+134%


Our Strategy


Clear and defined strategy, positioning the company for future growth

Supply expansion and

rollout of Delivery

Brand awareness and

share of voice

Customer experience and

value proposition

• Build widest restaurant selection, including partnerships with key branded chains

• Roll out Scoober across Europe

• Develop and grow new channels, including rollout of Takeaway Pay (B2B)

• Build brand love and loyalty through our consumer interactions

• Drive new consumer acquisition through top-of-mind awareness

• Leverage our brand to make a difference in supporting our industry and wider society

• Build price leadership in all markets

• Market-leading product experience for consumers and restaurants

• Continue to optimise our logistics solutions to enhance experience and efficiency

• Deliver best-in-class customer service


Scoober is at the heart of our strategy

Receive more than minimum wage, paid

on an hourly basis

Receivesick leave

Receivepaid holiday

Are provided witheco-friendly

e-bikes

1. As of 31 December 2020

Branding

• Increased visibility on the street throughout 139 cities in 12 markets1

• Our couriers are the ambassadors of Just Eat Takeaway.com

Great user experience

• Additional choice of restaurants thanks to delivery service

• In-app live tracking available for every Scoober order

• Improved in-house operations with best-in class routing algorithm leading to reduced delivery time and increased efficiency

Being a responsible employer

• Over 20,000 couriers employed and insured accordingly

• All drivers provided with clothing and gear to perform their job safely and professionally

All Scoober couriersare properly

employed


Priority areas for ESG action have been identified and targets will be set

Fueling growth by responding to changing diets

Enabling choice and transparency

Reducing our carbon footprint: Offices, Scoober deliveries

Operational waste & travel

Empowering our people:Employment & working conditions

Diversity & inclusion

Employee engagement & wellbeing

Food waste

Food poverty

Packaging

Carbon footprint reduction: Marketplace delivery

Society and community:

Backing small businesses

Supporting local communities

Tech skills

OU

R

CO

NT

RO

LO

UR

IN

FL

UE

NC

E

People & SocietyPlanet Food

Using our tech for good: product, data, user experience

Harnessing the reach of our partners to deliver change

Business fundamentals: tax, governance


Disclaimer

Statements included in this presentation that are not historical facts (including any statements concerning investment objectives, other plans and objectives of

management for future operations or economic performance, or assumptions or forecasts related thereto) are, or may be deemed to be, “forward-looking

statements”. Some of the forward-looking statements may be identified by words like “expects”, "anticipates", "plans", "intends", "projects", "indicates" and similar

expressions. We have based these forward-looking statements on our current expectations and projections about future events, including numerous assumptions

regarding our present and future business strategies, operations and the environment in which we will operate in the future. Forward-looking statements are not

guarantees of future performance and involve a number of risks, uncertainties and assumptions. Although we believe that the expectations reflected in such

forward looking statements are based on reasonable assumptions, our actual results and performance could differ materially from those set forth in the forward

looking statements.

No statement in this presentation is intended to be a profit forecast.

Statements regarding market share, including Just Eat Takeaway.com's competitive position, contained in this document are based on outside sources such as

specialised research institutes, industry and dealer panels in combination with management estimates.

The forward-looking statements contained herein speak only as of the date they are made. We do not assume any obligation to update any public information or

forward-looking statement in this document to reflect events or circumstances after the date of this document, except as may be required by applicable laws.

You will be solely responsible for your own assessment of the market and the market position of Just Eat Takeaway.com and you will conduct your own analysis

and be solely responsible for forming your own view of the potential future performance of Just Eat Takeaway.com’s business.

This document does not constitute or form part of, and should not be constructed as, an offer or invitation to subscribe for or purchase any Just Eat

Takeaway.com securities.

just eat takeaway.com - company update

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