Jumia Technologies : Presentation

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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 operations 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 or 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 occur. 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 of 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.

2

Africa is a massive market

1.3Bn

Population(1)

523mm

Internet users(1)

17mm

SMEs and merchants(2)

$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

4

Our mission: Leverage technology to improve everyday life in Africa

Providing new services

Jumia delivers innovative, convenient and affordable online services to consumers in Africa that help them fulfill basic everyday needsJumia takes the entire African economy online, helping small and large businesses grow and reach new consumers

Enabling SMEs to grow

Creating sustainable impact

Jumia creates jobs and skills that empower a new generation in Africa to build their lives and make their countries better

5

We are the leading pan-African e-commerce platform

Notes:

• 1. As of June 2020

• 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. For the 12-month period ending June, 30 2020

• 4. % Orders completed using JumiaPay in Q2 2020, at group level, irrespective of cancellations or returns

6

Our integrated ecosystem is geared towards driving consumer engagement

7

Our pan-African presence is a huge asset

Jumia's footprintPan-African presence provides strong strategic benefits

Sources: Euromonitor, Statcounter Globalstats as of 2019 Notes:

• 1. IMF and Datastream as of 2019

• 2. Internet World Stats as of 2019

8

Our platform is custom built for Africa

We provide a diverse offering of products and services

Split of number of items sold by product category, 2019

Sources: Company information Notes:

• 1. Digital Services includes services offered via our JumiaPay app. Excludes Hotels and Flights booking services

• 2. Fast-moving consumer goods

• 3. As at December 31, 2019

• 4. For 2019

40mm+

Live product listings3

90%+

Of Items sold by 3rd party sellers4

110k+

Active Sellers4

We provide sellers with an attractive value proposition

We continue to accelerate and enhance our partnerships with brands across Africa

We deliver a superior, localized experience to consumers

Local Currency

Selection, Price and Convenience

LLooccaallLanguaaggee

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

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

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

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

Strong repeat purchase momentum across our cohorts

Annual Orders by repeat consumers1 by cohort cohort (€)

57

Cohort Year 1Cohort Year 2

6.9

6.9

2017

2018

Notes:

• 1. Active consumers that have placed more than one order on the platform during the period

  Average Order Value2 for repeat consumers1 by

  2019

• 2. Average Order Value calculated as total repeat consumer spend for the year divided by number of Orders placed during the relevant year

56

2017

Cohort Year 3

2018

2019

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

Sources: Company information

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

WAREHOUSING

Sources: Company information Notes:

• 1. For the full year 2018

  INBOUND DELIVERIESPICKING & PACKING

• 2. Calculated based on property, plant and equipment over Total assets as of December 31, 2019

• 3. For Jumia's 5 biggest markets: Nigeria, Egypt, Kenya, Morocco and the Ivory Coast

LAST-MILE & PAYMENTTRACKING

RETURN HANDLING

JumiaPay is a uniquely-tailored payment solution for Africa

Multiple local payment methods

Seamlessly integrated in the shopping experience

BanksMobile MoneyCards

Dedicated payment app

Money Transfers / Cash

"One-click" payment

High security

Preferred payment method at checkout

Cash back and promotions

JumiaPay Wallet

Access more digital services

Payment services

Access Jumia Services

Sources: Company information

JumiaPay has the potential to become a leading pan-African payment and fintech player

Digital & Financials Services Marketplace

FinancingCredit scoringWealth management

• • Unique data on sellers and consumers

• • Existing distribution platform

• • Existing use case

Payment Services for 3rd Parties

Insurance

• • Payment services

• • Online distribution

  Restaurants, hotels, stores

  • • Payment services

  • • OTC Agency

• • Large existing consumer base

• • Full integration with the Jumia platform

• • Additional distribution and revenue opportunities for merchants

Strategic benefits

• Fund sellers' growth • Support consumers' purchasing power • Promote and drive platform user engagement

Monetization streams

• Commissions from digital services providers and financial institutions (distribution, lead generation, Consumer card issuance) • Service Fees paid by customers • Advertising revenues from partners & publishers

• • More exposure to the Jumia brand for consumers

• • More data

• • Payment processing fees paid by 3rd party merchants

• • Payment fees paid by customers (service fees or FX margin)

• • SME card issuance revenues

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

Payments &

TECHNOLOGY PLATFORM

Logistics

LendingConsumer

GrowthConsumer EngagementShop ManagementInfrastructureBusiness 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
…	…	…	…	…	…	…

Powerful data insights that benefit the whole ecosystem

How we look at our P&L

Key pillars of our financial strategy

Making progress on our path to profitability and driving the long-term growth of Jumia

Cost efficiencies

Development of JumiaPay

• • Variable costs efficiencies through scale

• • Operating leverage on fixed costs

• • Support path to profitability / Reduce Adjusted EBITDA loss in absolute terms

• • Pre-payment penetration on-platform

• • More digital services on JumiaPay app

• • Payment processing on behalf of 3rd parties

H1 2020 highlights: meaningful progress on our strategic priorities

Eur mm unless stated otherwise

Marketplace KPIs

H1 2018

H2 2018

H1 2019

H2 2019

H1 2020

GMV

Annual Active Consumers (mm)

Orders (mm)

15.3 13.2

JumiaPay KPIs

2941 3.2 5.2

4561 4.0 9.1

4771 4.8 11.3

5541 418

6.1 6.8

JumiaPay TPV % on-platform penetration JumiaPay Transactions % on-platform penetration

9.3

45.5 10.0% 1.8 19.2%

46.7 9.8% 3.1

77.6 89.0

3.2% 0.3

14.0% 21.3%

4.6 4.7

5.1%

27.1%

30.0% 35.6%

Selected Financials

Gross profit Fulfillment expense

16.8

27.4

32.1

43.8 41.7

(19.9)

(30.6)

(32.8)

(44.6) (33.2)

Gross profit after fulfillment expense Sales & Advertising expense Technology & Content expense G&A ex SBC

(3.1)

(3.1)

(0.7)

(0.8) 8.5

(20.5)

(25.5)

(26.8) (12.6) (47.8)

(29.3) (16.1)

(10.5)

(11.9)

(14.7) (14.2)

(32.4)

(45.1)

(59.5)2 (52.9)3

Adjusted EBITDA loss Operating loss

(65.8)

(84.4)

(83.8)

(98.9)2 (68.5)3

(76.2)

(93.5)

(112.1)

(115.8) (81.3)

Economics per order

Gross profit after fulfillment expense Sales & Advertising expense Technology & Content expense G&A ex SBC

(0.60)

(0.34)

(0.06)

(0.05) 0.64

(3.92)

(2.80)

(2.38)

(1.92) (1.22)

(2.01)

(1.30)

(1.12)

(0.96) (1.08)

(6.18)

(4.95)

(4.25)

(3.90) (4.01)

Adjusted EBITDA loss

(12.56)

(9.25)

(7.44)

(6.48) (5.20)

Economics % of GMV

Gross profit after fulfillment expense Sales & Advertising expense Technology & Content expense G&A ex SBC

(1.1%) (7.0%) (3.6%)

(0.7%) (5.6%) (2.6%) (9.9%) (18.5%)

(0.2%) (5.6%) (2.6%)

(0.1%) 2.0%

(5.3%) (3.9%)

(2.7%) (3.4%)

(11.0%) (22.4%)

(10.0%) (17.6%)

(10.7%) (12.7%)

Adjusted EBITDA loss

(17.9%) (16.4%)

1.	Adjusted for perimeter changes and improper sales practices	3.	Excluding settlement expense of €4.5mm in Q2 2020, G&A excluding SBC would have been €(48.4)mm.
2.	Excluding restructuring expense of €2.2mm in Q4 2019, H2 2019 G&A ex SBC would have been	Excluding net settlement expense of €3.6mm in Q2 2020, Adjusted EBITDA loss would have been €(64.9)mm
€(57.3)mm and Adjusted EBITDA loss €(96.7)mm

Q2 2020 marked meaningful progress on our path to profitability …

Adjusted EBITDA

€mm

Q1

Q2

(10)%

20192020

(44.4)

(26)%

Notes

1. Net settlement expense of €3.6mm calculated as a settlement provision of €4.5 million accounted for in G&A, net of insurance reimbursement of €0.9 million accounted for in Other Income. Excluding net settlement expense, Adjusted EBITDA loss would have been €29.3mm in Q2 2020, a YoY decrease of 34%.

…and significant improvement in our unit economics…

Smaller-sized, more profitable orders

Q2 2019	Q2 2020	YoY Δ
Average Order Value (AOV1)	€42.2	€33.8	(20)%
Gross Profit / Order	€2.7	€3.4	27%
As % of AOV	6.4%	10.2%	+379bps
Gross Profit after fulfillment expense / Order	€(0.1)	€0.9	n.m.
S&A2 per Order	€(2.4)	€(1.1)	(55)%
Tech, G&A3 per Order	€(5.0)	€(5.3)	6%
Adjusted EBITDA loss4 / Order	€(7.1)	€(4.9)	(32)%

Notes:

• 1. Average Order Value calculated as GMV divided by number of Orders

• 2. Sales & Advertising expense

• 3. G&A, excluding SBC for both quarters and including settlement expense of €4.5mm in Q2 2020. Tech and G&A excluding SBC and settlement expense per Order in Q2 2020 would have been €(4.6), a YoY decrease of 8%

4.

Adjusted EBITDA loss in Q2 2020 includes net settlement expense of €3.6mm. Excluding net settlement expense, Adjusted EBITDA loss per Order would have been €(4.3) in Q2 2020, a YoY decrease of 39%.

Adjusted EBITDA loss also includes net other operating income per order of €0.085 in Q2 2019 and net other operating income per order of €0.13 in Q2 2020

…with limited COVID-19 lockdown tailwinds

North AfricaWest AfricaEast Africa

South Africa

March

April

May

June

July

02. 09.	16.	23.	30.	06.	13.	20.	27.	04.	11.	18.	25.	01.	08.	15.	22.	29.	06.	13.	20.	27.
Mar Mar	Mar	Mar	Mar	Apr	Apr	Apr	Apr	May	May	May	May	Jun	Jun	Jun	Jun	Jun	Jul	Jul	Jul	Jul

Nationwide lockdowns1Localized lockdowns2

Partial curfews/ restrictions3

No movement restriction

• • Nationwide lockdowns were only put in place in 4 countries, which together represent 24% of our addressable market4

• • Localized lockdowns and partial curfews/ movement restrictions were the most widely adopted measures across our addressable marke

Sources: Official government communication in each country, classified into 4 main types of confinement measures

12..

• 3. Movement restricted for certain hours and/or between selected areas, on an ad hoc basisNCaatrivoen-wouidtearnedstirsioctlaiotinononofmsoevleecmteedntareas

• 4. Total population across countries of operation, IMF data for 2019

Q2 2020 highlights

Notes

4. Adjusted EBITDA loss in Q2 2020 includes net settlement expense of €3.6mm. Excluding net settlement expense, Adjusted EBITDA loss would have been €29.3mm in Q2 2020, a YoY decrease of 34%.

We are diversifying and rebalancing our business mix towards every-day categories, supporting our unit economics

Q2 2019

Q2 2020

GMV SplitAverage Order

Valueross Profit after

Fulfillment per OrderGMV

Notes:

• 1. Categories in this portion include fashion, beauty, home & living, FMCG, digital services, food delivery and others

• 2. Q2 2019 GMV adjusted for perimeter changes - exit from the Travel business and closure of Tanzania, Rwanda and Cameroon - as well as improper sales.

Growing usage and consumer adoption at record levels of marketing efficiency

Annual Active Consumers

mm

Q2 2019

40%

Q2 2019

6.8

Q2 2020

Orders

Q2 2020

Annual S&A per Annual Active Consumer (€)

S&A per Order (€)

10.86.7

JumiaPay TPV grew by 106% taking on-platform penetration to 23% of GMV

JumiaPay Total Payment Volume ("TPV")

€mm

JumiaPay TPV as % of GMV

% on-platform penetration

106%

2.4x

53.6

23.5%

Q2 2019

Q2 2019

Q2 2020

Q2 2020

JumiaPay transactions grew by 36% taking on-platform penetration to 36% of total orders

JumiaPay Transactions

JumiaPay Transactions as % of total Orders

mm

% on-platform penetration

Q2 2020

36%

2.4

Q2 2019

Q2 2019

Q2 2020

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

Marketplace revenue growth

€mm

Gross profit

€mm

38%

38%

23.6

Q2 2020

23.3

17.1	16.8
Q2 2019	Q2 2020	Q2 2019

We monetize the usage of Jumia through diversified revenue streams

Marketplace revenue breakdown

€mm

Marketing & AdvertisingValue Added Services1

FulfilmentCommissions

38%

Q2 2019

tes:

Value Added Services are included in "Other revenue" in our consolidated financial statements

23.6

Q2 2020

YoY Growth

Record Gross Profit after fulfillment expense in Q2 2020

Q2 2019

Q2 2020

€mm

€mm

Strong discipline and offering relevance drive Sales & Advertising expense efficiencies

Sales & Advertising expense

Sales & Advertising expense efficiency

€mm

(51)%

14.9

7.2

Q2 2019	Q2 2020	YoY Change
Sales & Advertising expense per Order	2.4	1.1	(55.2)%
Annual Sales & Advertising expense1 per Annual Active Consumer	10.8	6.7	(38.0)%
Sales & Advertising expense as % of GMV	5.7%	3.2%	(249)bps

Q2 2019 Q2 2020

Notes:

1. Calculated as the Sales & Advertising expense for the 12-month periods ending June 30, 2019 and June 30, 2020 of €52.3mm and €45.4mm respectively

Continued G&A savings as rationalization efforts start to pay off

General, Administrative1 ("G&A") and Tech2 expense €mm

(2)%

24.4

25.6

3 31.7

24.4

expense 24.0

Q2 2019

Notes:

• 1. Excluding Share Based Compensation expense

• 2. Technology & Content expense

  Q3 2019

  Q4 2019

  G&A excluding SBC

• 3. Excluding restructuring expense of €2.2mm as part of our portfolio optimization and headcount rationalization initiatives

Q1 2020

Tech expense

Q2 2020

We continue to pursue an asset-light strategy and have a cash balance of €174mm at the end of Q2 2020

€0.5mm

ASSET-LIGHT AND CAPEX LIGHT

CAPEX1 Q2 2020

€16.8mm

RECORD LOW CASH UTILIZATION3

In Q2 2020

€13.0mm

FAVOURABLE WORKING CAPITAL DYNAMICS

Net change in Working Capital2 Q2 2020

Notes

• 1. Corresponds to Purchase of Property and Equipment, as presented on the Cash Flow Statement

• 2. Corresponds to a cash inflow of €13.0mm

  €174mm

• 3. Corresponds to the Change in Cash & Cash equivalents, taking into account exchange rate effects, as presented on the Cash Flow Statement

CASH AVAILABLE

For the three months ended June 30

(€ mm)

Marketplace revenue1

Commissions Fulfillment

Marketing & Advertising Value Added Services

Sales of Goods Platform revenue2 Non-Platform revenue

Revenue

Cost of revenue Gross Profit

2019 17.1 5.4 5.7 1.3 4.7 21.6 38.7 0.1

2020 23.6 9.0 7.6 2.0 4.9 11.0 34.6 0.3

38.8

(22.0) 16.8

(11.7) 23.3

Notes

• 1. Revenue from Marketplace calculated as the sum of revenue from Commissions, Fulfillment, Marketing and Value Added Services, excluding Sales of Goods revenue and Non-Platform revenue.

• 2. Platform revenue calculated as the sum of Marketplace revenue and Sales of Goods

(€ mm)	2019	2020
Loss for the period	(67.8)	(39.4)
Income tax expense	0.2	0.5
Finance (income)/costs - net	0.9	1.3
Depreciation and amortization	1.8	2.1
Share-Based Compensation expense	20.5	2.6
Adjusted EBITDA	(44.4)	(32.9)

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 of 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