DPDHL BNP Paribas Exane Pan European Conference 2022 11 29

BNP PARIBAS EXANE PAN EUROPEAN CONFERENCE
MARTIN ZIEGENBALG, HEAD OF INVESTOR RELATIONS

New York - 29 NOVEMBER 2022
1
CONTENT
DPDHL Group Highlights Strategy 2025 Financial Backup
DIVISIONAL DEEP-DIVES:
DHL Global DHL eCommerce

DHL Express DHL Supply Chain P&P Germany
Forwarding, Freight Solutions
BNP Paribas Exane Pan European Conference | Martin Ziegenbalg | 29 November 2022 2
STRONG CASH FLOW & BALANCE SHEET
>€4bn BBB+ A2
Free cash flow 2021 / 2022e Fitch Moody’s
#1 Global TDI
Express
ATTRACTIVE RETURNS
#1 Air #2 Ocean
Freight Freight
~5% €2bn
2022-24 share buy-back program
#1 World’s dividend yield*
#1 Contract #1 Parcel Best €800m executed YTD
Logistics Germany Workplaces Strong commitment to
New tranche of €500m announced, to
dividend continuity
be executed until March 2023
*based on closing share price on Nov 7th 2022

Executive Summary
Q3 2022
Group EBIT up +15% yoy, +5% yoy excl. 2021 COVID-19 bonus
B2C yoy comparison improved vs. H1; slowing macro environment
becoming visible
Reported Free Cash Flow of €1.8bn, up +45% yoy

Strong EBIT performance translating into strong cash generation
Going forward
2022Q3
EBIT and Free Cash Flow guidance increased
2022
Based on strong 9M 2022 performance in Group portfolio
Executing on established levers to counter macro slowdown

Full focus on flexibly managing external uncertainties
Post lockdown normalization is nearing completion for B2C / e-commerce
B2C yoycomparisonsignificantlyimprovedin Q3 Higher e-commercebaselevelvs. preCOVID-19

YoY growth Rolling four quarters, indexed
Express B2C Shipments/Day DeCS B2C Europe Volumes Parcel Germany Volumes
10% +51%
Express B2C
Shipments/Day
0%
+46%
DeCS B2C Europe
Volumes
-10%
+19%
Parcel Germany
Volumes
-20%
Q3 Q4 Q1 Q2 Q3 Q4 Q4 Q4 Q3
2021 2021 2022 2022 2022 2019 2020 2021 2022
B2B volume development reflecting gradually slowing macro environment
Expectedfreight marketrebalancingstarted Resilient Q3 performancebyDHL Express

All figures refer to Q3 2022
Air Freight volumes Ocean Freight volumes B2B shipments/day B2B weight/day
-11% -9% excl. Hillebrand -1% +1%

yoy yoy yoy yoy
+3% -15% excl. Hillebrand -4% +25%

vs. Q3 2019 vs. Q3 2019 vs. Q3 2019 vs. Q3 2019
Q3 DGF EBIT/GP conversion rate remained strong at 42%, Strong Q3 EBIT as network adapted timely to slowing
reflecting still high freight rates and improved internal shipment/day dynamic reflecting gradually weakening
processes general economic environment
Strong focus on productivity in normalizing markets. Virtual airline model ensures high network flexibility.
Sustainably stronger EBIT/GP conversion rate supported Q4 network planning aims to balance expected B2C peak
by higher efficiencies from new IT system season uplift with softer B2B outlook
Executing on established levers to proactively manage macro slowdown
Disciplined yield management Full focus on cost management
General Price Increase Cost management

DHL Express (7.9% for 2023), DeCS, Parcel Germany Well-known levers executed where required
Surcharges
Network flexibility
Established mechanisms in DHL divisions; new energy &
Constantly adapting to volume expectations
peak season surcharge in Parcel Germany
2022 Guidance update:
Group EBIT expected in upper half or above previous guidance
H2 2022 macroeconomic scenario, 2022 EBIT sensitivities

as introduced in August (vs previous guidance)
Sudden, sharp GDP deceleration €7.6-8.0bn (LOWER HALF)
Decline in global GDP growth towards year-end €8.0 -8.4bn (UPPER HALF)
Based on currently still valid, solid business momentum >€8.4bn (ABOVE)
New 2022 Group EBIT guidance: €~8.4bn
2022 and mid-term guidance
in € bn
EBIT 2022 Guidance Mid-term Guidance

Group ~8.4 (from 8.0 +/- 5%) 2024 Group EBIT ~8.5
DHL ~7.5 (from 7.0 +/- 4%) Free Cash Flow

~11
2022-2024 cumulative
P&P Germany ~1.35 (from 1.5 +/- 10%)
Gross Capex (excl. leases)
~12
Group Functions ~-0.45 2022-2024 cumulative
Free Cash Flow >4.2 (from 3.6 +/- 5%)
Gross Capex
~4.2
(excl. leases)
Tax Rate 28-29% (from ~29%)
Note:
▪ FCF guidance excludes Net M&A
Continued
Value-accretive
Investments into commitment
targeted
organic growth to shareholder
M&A
Balanced return
use of cash
Figures cumulative 2019-2021
Share buyback
€1.4bn for
Dividend Hillebrand
booked in Q1
2022
Net Capex Shareholder Return Net M&A
PRIORITY REMAINS
PROFITABLE ORGANIC GROWTH
MID SINGLE-DIGIT
Expected Group revenue growth
Main drivers: GROUP ROCE*

▪ Structural e-commerce growth
▪ B2B growth
in line with GDP growth above GDP growth TRENDING FURTHER UP
Investments CONTINUED INVESTMENT INTO

18%
into PROFITABLE GROWTH
Capex, in €m
9%
11% 12%
FY 2020
FY 2021
FY 2019
organic growth
25%, excl.
FY 2018 Goodwill
~4.200 ~4.000 WACC: 8.5%
3.895
HIGHER RETURNS ON
HIGHER ASSET BASE
2021 2022e Yearly average of
*ROCE: Capital Employed includes capitalized leases, net
2023-2024 guidance
pension liabilities and goodwill
Capex includes:
Capacity Digitalization ESG

expansion initiatives Roadmap
DIVIDEND
€1,80
Dividend pay-out:
€1,35 40-60%
€1,15 €1,15 €1,15 of adjusted net profit
Continued
€1,05
(cash flow and continuity
€0,85 €0,85
€0,80 considered)
€0,65 €0,70 €0,70
commitment €1.80
60%
49% 50% 46% 48% 49%
59% 58% 43%
53% 52% 55% 55% DPS for FY 2021
40%
43% pay-out ratio;
to shareholder 2010 2011 2012 2013

Underlying Payout Ratio
2014 2015 2016 2017 2018 2019 2020 2021 Dividend payout of €2.2bn
return SHARE BUYBACK
€2bn
2022 Share Buy-back:
- First tranche of €800m fully executed
- New tranche of €500m announced, to
M&A STRATEGY
BASED ON STRICT CRITERIA:
Value-accretive STRATEGIC FINANCIAL INTEGRATION
targeted High quality assets, with clear

value-add for DPDHL Group’s
position in core logistics
Accretive and highly
disciplined approach as with
capex (considering 8.5%
Manageable, straight-forward
integration process
M&A businesses WACC)
Financing structures expected to depend on the deal: larger amounts would combine strong cash generation
and DPDHL Group balance sheet capacity, in accordance with rating target
EXAMPLE:
UPDATED FINANCE POLICY
Balanced use of cash
ORGANIC GROWTH
Strategy 2025
Focus on logistics core
Re-invest into profitable growth of core logistics
SHAREHOLDER RETURN businesses M&A
Capex guidance
Ordinary dividend Includes investments in digitalization and ESG Value-accretive & targeted
includes
40-60% investments
pay-out fromrelated to net profit
adjusted roadmap Opportunistic M&A to supplement core logistics
digitalization
(cash flow andand ESG roadmap.
continuity considered) organic growth; subject to strict strategic,
financial and integration criteria
Share buyback policy Financing

Use of excess FCF as available and Larger amounts to combine strong cash
appropriate, relevant M&A spending taken generation with balance sheet capacity, in
into consideration accordance with rating target
RATING TARGET RANGE: BBB+ to A-
CONTENT

Strategy 2025: As an integral part of our strategy, Sustainability is
anchored along our three bottom lines
Our purpose guides our efforts and

Our Purpose
sense of responsibility
Connecting people,
improving lives
Our Vision
We are THE logistics company
for the world Our values are in line with
Our Values sustainable behavior
Respect & Results
Our Mission
Excellence. Simply delivered. We want to achieve our mission
Along the three bottom lines in a sustainable way sustainably along the triple bottom line
Enabled by Common DNA
Our Business Unit focus

Strengthening the profitable core
We aim to create long-term value in our
businesses by focusing on
Supported by Group functions
our profitable core
Digitalization
CONNECTING
PEOPLE.
IMPROVING
DPDHL Group ESG Roadmap LIVES.
Clean operations Great company Highly trusted

for climate protection to work for all company
Reduce emissions to
>80% >97%
<29m Group-wide Employee Engagement share of valid compliance training
tonnes CO2e by 2030 (SBTi) approval rate in Employee Opinion certificates in middle and upper
No offsetting included Survey management
Increase share of women in middle and

Net Zero upper management to
30%
GHG Emissions by 2050
>30% ESG-related targets in bonus calculation
for the Board of Management as of 2022
by 2025 (25.9% for 2022)
>30% 60% Reduce LTIFR* to
share of e-vehicles used in External reporting in line with
sustainable fuels
by 2030
pick-ups and
deliveries by 2030 <3.1 GRI SASB TCFD WEF
by 2025 (3.7 for 2022) disclosure standards indices
All new buildings to be climate neutral *LTIFR: Lost Time Injury Frequency Rate
Execution of Sustainability Roadmap continues irrespective of macro environment
Environment Social Governance

Clean operations for climate protection Great company to work for all Highly trusted company
▪ DHL Express: Alice – successful maiden flight ▪ Employee Opinion Survey (EOS): Stable on ▪ Deutsche Post DHL Group has revamped its
of first-ever all-electric cargo plane high previous year’s level with continuous high Sustainability Advisory Council with a new
▪ P&P Germany: Largest electric fleet with >20k participation rate despite tough labor markets group of external experts from science, politics,
electric commercial vehicles ▪ For the second consecutive year, DHL Express business and other relevant fields
▪ Introduction of GoGreen Plus services at DHL tops the global list of the Great Place to ▪ Compliance trainings: on track towards
Freight and in Parcel Germany for private Work™ ranking reaching target of >97% share of valid training
customers certificates in middle and upper management
▪ DHL Global Forwarding agreed on a new SMF

Deal covering 60m liters
DPDHL Group CO2 Emissions
DPDHL Group CO2 Emissions 2021 by divisions CO2 Emissions 2021 by modes
m t CO2e 17.97
39.36 17.12 0.02 0.08
6,09
7,30
0.06
0.20 17,87
10,97
Scope 1
Scope 2 DHL Express DGFF
Scope 3
2.15
31,86
1.81
0.50
0.04 0,35
1.46
0.06
0,26
1.61
0.02 1.40
1.18
DPDHL Group DSC DeCS P&P Germany

DPDHL Group ESG measures
Decarbonization measures
Measures 2021 Results 2030 Targets
728 kilotonnes CO2e
Realized Decarbonization Effects Reduce GHG emissions to <29m tonnes CO2e
(2022 Target: 969 kilotonnes CO2e)
Use sustainable fuels in air, ocean and road freight Share of sustainable fuels amounts to 1.3 % >30% share of sustainable fuels in air, ocean and road freight
Some 20,700 e-vehicles used in pick-ups and
Increase electrification of the fleets 60 % e-vehicles used in pick-ups and deliveries
deliveries
Climate-neutral building design All our own new buildings are climate neutral
Employee matters
Measure 2021 Results 2022 Targets 2030 Targets
Employee Engagement score in Employee Opinion Survey 84% >80% Maintain employee engagement at a high level
Share of women in middle and upper-management 25.1% 25.9% 30%
Lost Time Injury Frequency Rate per 200,000 working
3.9 3.7 <3.1
hours
Corporate governance
Measure 2021 Results 2022 Targets
Participation of executives in middle- and >97% share of valid training certificates in middle and upper
96%
upper-level management in compliance training management
ESG targets integrated in management remuneration
Criteria for Annual Variable Pay for Board of Management Payment schedule
from 2022 onwards For medium-term component (deferral) and annual bonus
E: CO2e emissions ▪ 50% paid after financial year if bonus criteria

10% Environment
achieved
Realized Decarbonization Effects
10% Social ▪ 50% payout of achieved bonus deferred by
S: Employee engagement additional 2 years*
10% Governance Group employee engagement approval rate
G: Compliance *Medium-term component will only be paid out if EAC target is reached
10% Free Cash Flow
Share of valid training certificates in middle and
during the sustainability phase, i. e. at least the cost of capital was
covered
upper management
10% EAC Divisional*
EAC Group**
50%
*Divisional EAC: only applicable for Divisional CEOs

**60% of Group EAC is applied for Group CEO, Group CFO and Board Member for HR
Group Revenues
2013 2021
€55bn €82bn
DPDHL % of Group Revenues*
portfolio:
GDP+ growth
Beneficiary of driven by structural
e-commerce
structural 64% DHL Express
DHL Supply Chain
e-commerce
DHL eCommerce Solutions
56% Parcel Germany**
growth Asset-light, cyclical

26% 26% driven by global trade (GDP)
DHL Global Forwarding, Freight
18% 10% German letter business
*excl. Consolidation/Group Functions

**incl. P&P International
Improved customer service
Accelerated Data Lake

Track & Trace
Re-routing
Digitalization Inventory Dashboard
driving Data Analytics
Centers of
Internet of
Things Increased productivity
performance
Optimized Routing
Excellence
Digital Recruiting
Automation
improvements API
Blockchain
Volume Forecasting
in all divisions Accelerated growth

Automation of E-Fulfillment
Operations
Outsourcing
B2C & B2B E-Commerce
CONTENT

Revenue Mix
77% FY 2021
DHL
70%
FY 2011
EXPRESS Time Definite

3% 3%
Day Definite
10% 6%
Time Definite
7% 7%
Air Capacity Sales

10% 7%
Others
Global market leader in Time Definite International International International Domestic
Premium logistics segment offers above-GDP growth,
driven by global trade and international B2C
Investment Summary: Global TDI market share (2021)

▪ #1 World’s Best Workplaces 2021
▪ Premium logistics segment offers above-GDP growth
43%
driven by global trade (B2B) as well as international e-
commerce (B2C+B2B)
30%
▪ Leading integrated global network with long standing
23%
local presence in 220+ countries & territories
▪ Growth acceleration during COVID has led to
sustainably higher EBIT and margin levels 5%
▪ Proven ability to flex network to adapt to changing
market circumstances
DHL FedEx UPS Others
Source: Market Intelligence study 2021
-3% yoy
TDI Shipments/Day
+19% yoy
TDI Revenue/Day
▪ Time-Definite-International (TDI) shipments/day yoy slighly

better than H1 trend:
▪ B2B (Q3: -1% yoy; H1: -5% yoy)
DHL Express ▪ B2C (Q3: -4% yoy; H1: -7% yoy)
▪ Strong revenue growth reflects significant fuel and FX effects
€7,197m €1,012m as well as yield management. 2023 GPI (General Price

Increase) announced with standard increase of +7.9%
Revenue, Q3 2022 EBIT, Q3 2022 ▪ EBIT margin at 14%, down yoy as fuel pass-through and FX
+22% yoy +4% yoy added to revenue growth but had a combined net negative
0% yoy, excl. 2021 COVID-19 bonus
EBIT effect
DHL Express TDI volume growth, quarterly growth ranking
#1 AM EU MEA EU MEA EU EU AM AM AP AM MEA AM AM AM AM AM AM AM
#2 MEA MEA EU AM EU MEA AM EU EU AM MEA AM EU EU EU EU EU EU EU
#3 EU AM AP AP AP AM AP AP AP EU AP EU AP MEA AP AP AP AP AP
#4 AP AP AM MEA AM AP MEA MEA MEA MEA EU AP MEA AP MEA MEA MEA MEA MEA
1.044 1.027 1.100 1.025 1.114 1.290 1.205 1.231 1.126 1.281 1.123 1.168 1.097
904 964 908 949 962 955
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
2018 2019 2020 2021 2022
FY 2018: +7.5% FY 2019: +5.7% FY 2020: +8.7% FY 2021: +10.3% Q3 yoy: -2.6%
DHL Express TDI: Premium niche of logistics industry
Low
Premium
Time Definite International (TDI) The premium segment within the express industry
Time Definite = dedicated delivery at a scheduled time of day
International = cross-border shipment (intra- or between continents)
TDI shipment example: Hanoi, Vietnam to Rome, Italy

DHL Express 2. 19:00 ICT 3. 23:00 ICT
1. Order Sort in
Export through
TDI Hanoi Gateway HK Hub
Hong Kong
Volumes
Pricing
Hanoi
from Hanoi
DHL Global Forwarding
Air Freight
07:00 CET 09:00 CET 7. 10:30 CET
5. 6. Delivery at
Import in Courier tour consignee in
Rome preparation in Rome
Gateway Rome Service
4. 02:00 CET Center
Sort in
DHL Global Forwarding Leipzig
Hub
Ocean Freight
Leipzig
Strong performance as Provider of Choice
2021 Revenue
MI Study 2021
Market Share
Global TDI Revenue Market Share
study confirmed DHL
DHL’s leading Europe

UPS
FedEx, incl. TNT

[€12.5bn]
position in TDI 6%
Others
24%
51%
Americas +6%pt* Asia Pacific 5%
2% 20%
[€14.7bn] 21% [€13.9bn] 12%
5%
33% +2%pt*
23% 26% 57%
43% +3%pt*
44%
MEA
+3%pt* [€ 1.1bn] 16%
7%
30%
14% 63%
+6%pt*
Global TDI Revenue Market Share
[€42.3 bn]
Sources: Market Intelligence study 2021
*) vs 2016 including 53 countries
E-commerce is a profitable
growth driver for DHL Network
Characteristics
B2C
Characteristics
Profitability
Impact
Express Shipments
per Day
Volume growth drives better
utilization of existing network 
Weight per
2013 2019 2021 Shipment
Lower weight per shipment ➔
Revenue
B2C per Kilo Higher RpK related to lower WpS 
volume
share
10%+
35%+ 45%+
First mile More pieces per stop at pickup 
Better utilization of existing
Hub sort
infrastructure, with high degree 
EBIT
margin
9% 12% 17% Better utilization of existing capacity,
Airlift with lower WpS being advantageous 
Optimize residential delivery via On
Demand Delivery & Drop Off Locations
Last Mile and increased delivery density due to ➔
B2C Growth
What happens to DHL Express when air freight market normalizes?
VOLUME PRICING NETWORK
• Retain heavier profile shipments • Pricing mechanisms (including • Covid-related ESS to be reduced in
(especially B2B) with strong service surcharges) to reflect market line with return to pre-pandemic
quality proposition situation and cost fluctuations CpK driven by increased CAL
• Continued growth of international • Regular yearly General Price • Our Aviation network mix (fix /
cross border B2B & B2C Increase (GPI) in line with stringent flex) enabling optimization and
yield management approach adjustment as pandemic ends and
commercial air returns
Over 500 airports served world-wide
DEDICATED AIR
• 18 own and partner airlines
To Serve its Global • More than 320 dedicated aircraft > 2,300
Network, daily flights
PURCHASE AIR
DHL Express Runs • Over 300 Commercial Air carriers
More Than Just an
Airline GROUND LINEHAUL > 4,500
• Over 450 ground operators daily road movements
1 VIRTUAL GLOBAL AIRLINE and Network
DEDICATED AIR
> 2,300
daily flights Unchanged network flexibility
PURCHASED AIR
for our dedicated air network
> 4,500 daily
GROUND LINEHAUL Forecast Year End
road movements Pre Pandemic 2021
The fix : flex ratio

of our dedicated 30%
35% 32%
network remains 47%

41% 43%
consistent over
23%
time 24% 25%
> 215 > 280 > 320
LEASE terms: 30 days - <1 year
LEASE terms ≥ 1 year
OWN
Market (2022 – 25)
Market growth assumptions Expected growth vs. market
▪ TDI volume growth: 4-5% p.a., after B2C
DHL
AT LEAST IN LINE
normalization in 2022 – subject to macro
Supported by continued strong yield
uncertainties
EXPRESS
discipline
Capex Outlook EBIT Outlook

FINANCIAL ▪ Expect Capex at €1.5-2.0bn p.a. for ▪ Continued growth of absolute EBIT, after
OUTLOOK 2022-2024 based on market B2C normalization in 2022 - subject to
conditions macro uncertainties
▪ Investment in expansion, sustainability ▪ Maintain higher margin levels, potential for
and digitalization along whole value additional margin expansion more
chain (air & ground fleet, incremental
hubs/gateways/depots)
Revenue Mix (2021)
DHL GLOBAL Air Freight 38%
FORWARDING, Ocean Freight 31%
FREIGHT
Road Freight (DHL
Freight)
21%
Others 10%
International transportation of Air Freight, Ocean Freight and
Road Freight including Customs Clearance and related value-
added services like warehousing, cargo insurance, etc.
Investment Summary: Market Position (2020)

▪ Asset-light business model: Global presence in
>150 countries with ~45,000 highly qualified employees
▪ Market potential continues to be attractive with GDP Air Freight #1
growth driven by global trade
▪ Investments into state-of-the-art IT systems are driving Ocean Freight #2
increased operational efficiency and enhanced customer
experience
▪ On this basis, sustainably higher GP/EBIT conversion and Road Freight (EU) Leading position in a highly
EBIT margin levels post COVID-19 targeted fragmented market
▪ New sustainable product offers launched in 2021
Air Freight (AFR) Ocean Freight (OFR)
-11% yoy +73% yoy +12% yoy +28% yoy

Volumes GP/unit Volumes GP/unit
▪ Volume development reflects ongoing market softening. OFR

volume -9% excl. M&A – Hillebrand integration well on track
▪ GP/unit down sequentially as freight rates normalize, however
cushioned by GP management as well as structural system-
DHL Global Forwarding, Freight based improvements in GP generation
▪ Strong EBIT/GP conversion of 42% in DGF – unchanged target
€7,892m €584m of 35+% conversion in “normalized” freight rate environment

based on structural changes enabled by IT renewal
Revenue, Q3 2022 EBIT, Q3 2022
+38% yoy +57% yoy
+51% yoy, excl. 2021 COVID-19 bonus
DGFF – Emerging new rivals do not pose imminent risk of disruption
Gaps to close
?
• Back-end IT infrastructure
• Own setup (physical) globally
• Operational expertise
• Global sales force
Digital Capabilities
Digital • Carrier relationships

Forwarders
Incumbents
Gaps to close
• Modern, fully-integrated IT infrastructure
• Digital customer interaction tools
Global network
The lifecycle of a shipment is a complex process and technology
investments are key to success
Take control Create documents
Plan route of goods from for export compliance Manage transport
& organize Customer & customs to port/airport
shipment Consolidation Manage loading
Quotation & export process
process
Ensure goods
Goods are shipped
App-based IT System
to be shipped Online tracking tools Upgrades
App-based
tracking tools
Quotation
Tools
Real-time Ensure
Digital
tracking shipment
analytic
platform stays on track
tools
IT System
Upgrades App-based
tracking tools IT System
Billing Upgrades
& payments
Accept delivery
at port/airport
Transport to warehouse
or final destination
Manage documents for import
compliance & customs process Step in the lifecycle of a shipment
System or technology support
With IRR & Digital Customer Interaction DGF is enhancing customer
experience while increasing operational efficiency
myDHLi 360° VISIBILITY COLLABORATION FULL ACCESS MANAGED BY CUSTOMER

External
QUOTE + BOOK TRACK DOCUMENTS ANALYTICS
IT Renewal Roadmap (IRR): Our Digital Backbone established

Internal
New TMS Paperless Quotation Track + trace / shipment Steering Logic … and many more
forwarding tool visibility
Market
DHL Market growth Expected growth vs. market
GLOBAL Expected to be around GDP growth for

Air, Ocean and Road Freight
ABOVE
Aligned with unchanged focus on GP
FORWARDING, optimization and profitable growth
FREIGHT Capex Outlook EBIT Outlook

▪ Flat / slightly increasing from FY21 levels ▪ Absolute GP to fluctuate in fairly narrow
FINANCIAL (€132m) range around 2021 levels
OUTLOOK ▪ Asset light business model: Selected

investments related to warehouses, sites
▪ DGF GP-EBIT conversion rate of 35+%,
supported by sustainable continuous
and IT improvement
▪ Increase Freight EBIT margin to over 3.5%
Revenue Mix, FY 2021*
DHL Retail
Consumer 22%
29%
SUPPLY CHAIN Auto-Mobility
Technology
14%
13%
Manage supply chains to reduce complexity for our customers. Life Science &
Our profitable core includes warehousing, transportation as well 12%
Healthcare
as key solutions like e-Commerce (incl. returns management), Engineering & Manufacturing 5%
Lead Logistics Partner (LLP), Service Logistics, Packaging and
Real Estate Solutions Others 5%
Investment Summary: Market Position (2020)

▪ World market leader in Supply Chain Management with
industry-leading EBIT margin at >5% DHL Supply Chain 5.8%
▪ Scalable and flexible digital solutions embedded in our
standard ways of working GXO Logistics 2.5%
▪ Leading Omni-channel and e-commerce offering
Kuehne + Nagel 2.2%
▪ Strong focus on Employer of Choice attracting and
retaining employees in times of critical labor shortages Hitachi Transport 1.7%
▪ ESG roadmap and metrics fully integrated into strategic and
operating framework UPS 1.7%
BNP Paribas Exane Pan European Conference | Martin Ziegenbalg | 29 November 2022
*restated in Q1 2022 reporting 41
€4bn (+12% yoy)
9M 2022 total contract value
5%
EBIT margin
▪ Unchanged continued top- and bottom-line growth driven by

strong new business wins, a high renewal rate supported by
growth of our strategic products and higher efficiencies
DHL Supply Chain yielding from continuous investments in scaling digitalization
and standardization
€4,184m €220m ▪ EBIT margin of 5.3% remains in line with 5-6% target

+15% yoy +55% yoy
+12% yoy, excl. 2021 COVID-19 bonus
~€13.9bn ~€1.5bn
We are the revenue in 2021 eCommerce revenue in 2021
#1 >5.0%
EBIT margin in 2021
~177,000
FTE
#1
contract 10.5%
EBITDA margin in 2021
Innovative 3PL provider
(Gartner ranking)
logistics player 75% of our employees working in 94%+

managing supply chains digitalized enivronment1) Contract Retention Rate
to reduce complexity >5bn ~50

for our customers of new sales
total contract value in 2021
Net Promoter Score (NPS)
continuously measured
83% Industry leading safety: 66%

lower
of staff covered by GPTW2)/Top Lost Time Injury Frequency Rate
Employer certification compared to Industry avg.3)
1) Employees on locations which have at least one active project of our 12 focus technologies; 2)Great Place to Work 3) 0.54 Lost Time Injury Frequency Rate (LTIFR) for DSC vs. Industry average of 1.6
DSC offering attractive strategic solutions
across the whole supply chain
DHL Supply Chain offerings of key solutions 1)
DHL Supply Chain is the most global contract
PLANNING PROCESS
Global logistics provider:
customer • Global coverage of >50 countries, more
supply chains
Source Inbound Make Store & Deliver Maintain & than twice of closest global competitors
Customize Return
• Combine unparalleled reach and scale with
eCommerce >1,500 locations in all commercial centers
Service Logistics • Provide efficient scalability and flexibility on
ReCommerce
>40m sqm² of warehouse space2) that we
Strategic
products
manage and operate for our customers
Lead Logistics Provider
Packaging As the world’s leading contract logistics

Real Estate
provider we create competitive advantage for
Solutions our customers by delivering exceptional
Transport operational service as well as innovative and
Core
products sustainable solutions across the supply chain.
Warehousing
1) Not exhaustive 2) Includes DHL leased and owned locations as well as customer owned locations operated by DHL
Customer Examples (not exhaustive)
Countries with DSC operations
SF Partnership
(UK)
DHL Supply Chain

is uniquely
positioned to cater
for the structural
growth of
e-commerce and
omni-channel
demand globally
€1.5bn revenue in e-commerce Strong customer sign up on More than 25% of DSC’s in
(+45% vs 2019) Fulfillment networks new business signings is
from e-commerce
140 operations across ~50 returns operations

all regions centers globally
We have defined 12 focus technologies with clear benefits for our
customers and DSC
12 Focus technologies
identified along entire logistics process
Intelligent
75%+ of employees working on sites with
active Accelerated Digitalization projects
Assisted Inventory
Process
# of digitalization
Picking Robots Management Robots projects live
Automation ~3,700
Data Analytics /
Goods-to-Person
Robotic Arms Algorithmic
Robots
Optimization ~2,000
Wrapping Smart Supporting

Robots Operations Robots
~600
Indoor Robotic Wearable Asset Tracking ~500
Transport Devices & Monitoring
~300
Investment of choice Provider of choice Employer of choice Jan Jan Jan Jan Jan
Productivity and utilization Customer satisfaction Employee attraction and 18 19 20 21 22
increase, cost reduction increase retention, overall satisfaction
Financial Outlook
Market & Revenue Capex

Topline growth above Increasing from FY2021 levels
4 – 6% market, while maintaining 500+€m driving growth, digitalization
Market Growth selective business CapEx & decarbonization
approach
EBIT Return on Capital Employed1)

Continuous improvement of Improving mid-term from
5 – 6% industry-leading profitability 25%+ FY2021 levels while continuing
EBIT Margin with EBIT margin of 5-6% ROCE to invest into automation and
digitalization
1) excl. Goodwill, incl. leases
DHL
ECOMMERCE Revenue Mix, FY 2021
SOLUTIONS Europe 53%
Domestic last mile parcel delivery in selected countries outside

of Germany (Europe, USA, India and selected Asian emerging
markets). Non-TDI cross-border services primarily to/from and Americas 35%
within Europe.
Investment Summary: Asia 12%

▪ Strong structural growth driven by e-commerce as well as
B2B exposure in all selected markets we operate in
▪ Sustainably increased EBIT from economies of scale, yield
management and service performance
▪ Expansion of our pan-European Parcel Connect delivery
platform
▪ Investments in network capacity & automation, (clean)-
last mile capabilities and technology
+2% yoy
Organic revenue growth
6%
EBIT margin
▪ Revenue growth accelerating from H1 due to improving B2C

volume momentum yoy, with unchanged positive yield and FX
effects
DHL eCommerce Solutions ▪ Annual GPI (General Price Increase) for 2023 tailored to
country circumstances as usual
€1,489m €87m ▪ EBIT margin maintained at high level of 6%, reflecting

structurally higher e-commerce penetration and network
Revenue, Q3 2022 EBIT, Q3 2022 utilization post lockdown
+8% yoy -4% yoy
-16% yoy, excl. 2021 COVID-19 bonus
Our profitable core:
Our profitable
Focus core
on domestic and non-TDI* parcel delivery
Core business
• In selected countries outside of

Germany
Domestic
Last Mile • This includes Europe, US and
selected emerging markets in Asia
Pacific, incl. India
Parcel Connect
Parcel Connect is our optimizable delivery and
• Commercial capabilities – primarily returns solution developed especially for
to/from and intra-Europe e-commerce in Europe, catering to both B2B and
Non-TDI
B2C.
Cross- • Parcel Connect in Europe a strong • Customers benefit from a single DHL point of
border and growing platform as basis for contact for seamless access to 28 European
countries.
future growth • Brands establish trust and loyalty with
customers thanks to fast, flexible,
hassle-free delivery and returns.
*non-Time Definite International Parcel delivery
DHL eCommerce Solutions: Key stats at a glance
>1.1 billion >20 22,500 2,400

parcels delivered each year Offices Vehicles Facilities
>48,000 >70,000 6
Employees Access Points1) Dedicated Aircraft
Data as of 31.12.2021. 1) As of February 2022 reached 87.000 service points
DHL eCommerce Solutions: Regions and service portfolio
We focus on domestic last-mile parcel delivery in selected countries in Europe, U.S., India and
selected Asian emerging markets. Our non-TDI cross-border services are primarily to, from and
within Europe, as well as outbound from U.S. and Australia
Europe
• Selected B2C and B2B domestic
delivery in 8 countries: UK, NL, Asia/Pacific
Americas
• B2C domestic delivery (U.S.) BE, SE, PL, CZ, ES, PT • B2C domestic delivery in key
• Outbound cross-border (U.S.) • Pan-European cross-border markets of Thailand and
offering India (Blue Dart) Malaysia
• Direct shipping (Canada to U.S.)
• Premier domestic • Cross-border shipping from
courier and Australia
integrated express
package
distribution
Revenue Mix
POST & PARCEL

FY 2019 FY 2020 FY 2021
53%
49%
46%
GERMANY
39%
36%
32%
Transporting, sorting and delivering of documents and goods- 15% 15% 15%
carrying shipments in Germany and export.
Investment Summary: Parcel Mail International & Others

▪ German parcel and mail incumbent with leading market
positions
▪ Financial performance outlook: stable long-term EBIT with
consistent FCF contribution Market Position (2021)
▪ Recognized Top Employer driving superior network and
delivery quality
▪ First mover in green delivery: significantly lower CO2e ~61% Market share Mail Communication
/parcel vs all delivery competitors in Germany (business customers)
▪ Digitalization and automation: Highest productivity in the
industry through scale, automation und digitalization
>40% Market share Parcel
Mail* Parcel
-5% yoy -3% yoy +2% yoy +4% yoy

Volumes Revenue Volumes Revenue
▪ Parcel back to yoy growth, significantly improving from H1 in

line with expected post lockdown normalization
▪ 2023 price increase for Parcel business customers to include
new energy price and peak season surcharges
Post & Parcel Germany ▪ Accelerated cost inflation not fully offset by ongoing cost and
pricing measures
€3,948m €290m ▪ Current focus on peak season quality

0% yoy -3%
-18% yoy, excl. 2021 COVID-19 bonus
*Mail = Mail Communication & Dialogue Marketing
German Post and Parcel Network
82 Mail sorting centers 37 Parcel sorting centers
Neumünster
Neustrelitz
Hamburg
Delivery Bremen-
Bremen-
GVZ
Hemelingen
BörnickeRüdersdorf
Hannover
Greven Bielefeld
Osterweddingen Ludwigsfelde
Dorsten
Bochum Radefeld
Krefeld
Hagen Staufenberg
Ottendorf-Okrilla
Köln
~60% – and growing – Nohra
Neumark
Neuwied Obertshausen
of Parcel deliveries done
Rodgau
through joint delivery with mail Kitzingen
Saulheim
Speyer Feucht
Bruchsal Regensburg
32k parcels/hour Köngen
Augsburg
40k/50k parcels/hour
Lahr Eutingen Günzburg Aschheim
DHL Parcel Germany: Structural e-commerce trend
Parcel Germany, volume growth, yoy
15%
13%
10% 10% 9%
9% 8%
7% 7% 8%
6%
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
>40% 7.2m >120k ~10,000 ~79%

Parcel Lockers
Parcel Market Share parcels per working day (2021) Parcel Business customers Next day delivery
(Packstation)
P&P Germany: Products and Pricing
P&P revenue Pricing
FY21: €17.4bn
Ex-ante products
4.6% increase starting Jan 1st 2022 for 3 years (incl.
– private customers (€1.0bn)
international)
Mail Communication – business customers (€1.4bn)
€5.5bn Partial services
2020: 3-4% through reduction of discounts
– business customers (€2.0bn)
Other (€1.1bn)* Partially increased in 2020-2022
Dialogue Marketing Addressed and unaddressed advertisement mailings,
Partially increased in 2020-2022
€1.8bn campaigns (both digital & physical)
International Depends on the product category: Partially increased

In- and outbound Germany shipments
€2.6bn in 2020-2022
Others/Consolidation
Press, pension services, retail Partially increased in 2020-2022
€0.8bn
Top accounts (~500 customers)
Business Pricing varies by contracts
Middle accounts (~22k customers)
Parcel Germany customers Last increase: 1st January 2022
€6.8bn Small accounts (~102k customers)
Private customers Last increase: 1st July 2022
1) e.g.: small items eCommerce, Philately, “Postzustellungsauftrag“

Standard letter stamp price development is based on
regulated price cap
Pricing
headroom for
basket of No price increase
mail products +1.2% +2.8% +1.6% +1.0% +7.5% +10.6% +4.6%
headroom before 2011
under regulated
Carried over
price cap to 2013
German standard letter price,

in € cents 85 85 85
80 80 80
70 70 70
60 62
55 55 55 55 58
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019* 2020 2021 2022 2023 2024
Price cap
CPI – 1.8% CPI - 0.6% CPI - 0.2% CPI + 5.8% CPI + 5.4% CPI + 1.35%
regulation**
*implemented from July 1st 2019 onwards, taken into account in headroom calculation
**CPI: Consumer price index
P&P Germany: Wage agreements in Germany
Wage increases for P&P Germany employees*, yoy in %
4.0
3.1 3.0 Current agreement

3.0
applies to ~140,000
2.6 Deutsche Post tariff
2.0 2.1 2.0 employees.
1.7
Contract period:
Sep 1st 2020 -
Dec 31st 2022
0.0 0.0 0.0 0.0
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
One-time
Flat €320 €400 €400 €250 €300
payment
*applies to ~140,000 Deutsche Post AG tariff employees
Market (2022 – 25)
Market growth assumptions Expected growth vs. market
▪ Mail volume: decline of -2 to -3% p.a. IN LINE
P&P ▪ Parcel volume: growth of +5 to +7% p.a. IN LINE

▪ Increase vs. traditional competitors
GERMANY ▪ Decrease vs. market incl. Amazon
Capex Outlook EBIT Outlook

FINANCIAL ▪ Capex of €600-1,000m p.a. for the next 2022
OUTLOOK years – 2022 at the upper end due to ▪ ~ € 1.35bn
completion of capacity step-up in parcel
Beyond 2022
sorting
▪ Stable EBIT at ~€1.5bn
▪ Growing share of climate-related
investments
▪ Expansion of Parcel infrastructure (e.g.
Packstation, hubs, depots, fleet), new
sorting concepts and digitalization
CONTENT

Deutsche Post DHL Group at a glance (FY 2021)
DHL Global Forwarding, DHL eCommerce

GROUP DHL Express DHL Supply Chain Post & Parcel Germany
Freight Solutions
Revenue
€81,747m €24,217m €22,833m €13,864m €5,928m €17,445m
EBIT
€7,978m €4,220m €1,303m €705m €417m €1,747
EBIT Margin
9.8% 17.4% 5.7% 5.1% 7.0% 10.0%
FTE*
528,079 108,896 42,348 167,666 32,099 164,429
*average for the year
Q3 2022 Group P&L
Double-digit topline growth fully translated into strong EPS growth
in €m Q3 2021 Q3 2022 vs. LY
Revenue 20,036 24,038 +20.0%
EBIT 1,771 2,041 +15.2%
Financial result -142 -152 -7.0%
Taxes -457 -548 -19.9%
Consolidated net profit* 1,087 1,228 +13.0%
Basic EPS (in €) 0.88 1.02 +15.9%
*attributable to DPDHL Group shareholders
Strong EBIT performance translating into strong cash generation
Q3 2022
All in €m
▪ Changes in WC up €+486m yoy as

working capital build-up reversing; in-
Operating Cash Free Cash Flow line with freight market normalization
EBIT
Flow excl. Net M&A ▪ Capex slightly up yoy, in line with full
2,041 3,465 1,941 year guidance
yoy: +270 ▪ YTD FCF excl. Net M&A amounted to
yoy: +816 yoy: +684 €3.7bn
2022 Share Buy-back:

▪ First tranche of €800m fully executed
▪ New tranche of €500m announced, to
Strong balance sheet and liquidity position
1.3x LIQUIDITY
Net Debt / EBITDA No financial covenants on bonds and syndicated credit facility
(Sep 30th, 2022); EBITDA last four quarter
€5.1bn Maturity Profile, Senior Bonds & Convertible

Cash & cash equivalents / Average time to maturity 4.6 years
Current financial assets 2022 maturity of €500m senior bond was redeemed in Q2 2022.
(Sep 30th, 2022)
€m
Lease liabilities
in €m
Convertible
€2.0bn Senior Bonds
Related to multi- Syndicated credit facility

year commitment 13,557 12.726 runs until 2025
on operating assets
(undrawn)
2.503
~€1.5bn 0 500 700 1000 1.250 500 750 750 750
Net Debt EBITDA Bilateral uncommitted
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
credit lines (undrawn)
DPDHL Group Pensions – DB and DC plans
Defined Benefit Defined Contribution (Cash out ≈ Staff Costs in EBIT)
Defined Benefit Obligation
Staff Costs* & Change in Provisions Civil Servants in Germany Hourly workers & salaried employees*
* Excluding one-offs, in EBIT *mainly outside Germany
516
493
Plan Assets Net Pension Provision 461
449
409
376 410
3.764 347
193 162 347 352
187 317 305 300 307
1.089
193
227 274
218
14.739
11.839 264 266
230
168
83 96 86
Dec 31st 2021 Sep 30th 2022 2015 2016 2017 2018 2019 2020 2021 2015 2016 2017 2018 2019 2020 2021 2015 2016 2017 2018 2019 2020 2021
Current service costs Change in provisions
Discount Rate (DBO) Germany UK Other Total (Weighted Average)

Sep 30th 2022 3.90% 5.50% 3.56% 4.23%
June 30th 2022 3.70% 3.80% 3.36% 3.67%
Investor Relations Contact
Martin Ziegenbalg Robert Schneider Sebastian Slania Agnes Putri Sebastian Horn
+49 228 182 63000 +49 228 182 63201 +49 228 182 63203 +49 228 182 63207 +49 228 182 63206
m.ziegenbalg@dpdhl.com robert.schneider1@dpdhl.com sebastian.slania@dpdhl.com a.putri@dpdhl.com s.horn@dpdhl.com
Disclaimer
This presentation contains certain statements that are neither reported results nor other historical information. These forward-looking statements
are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements.
Many of these risks and uncertainties relate to factors that are beyond Deutsche Post AG’s ability to control or estimate precisely, such as future
market and economic conditions, the behavior of other market participants, the ability to successfully integrate acquired businesses and achieve
anticipated synergies and the actions of government regulators. Readers are cautioned not to place undue reliance on these forward-looking
statements, which apply only as of the date of this presentation. Deutsche Post AG does not undertake any obligation to publicly release any
revisions to these forward-looking statements to reflect events or circumstances after the date of this presentation.
This presentation does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy any security, nor shall there be any sale,
issuance or transfer of the securities referred to in this presentation in any jurisdiction in contravention of applicable law.
Copies of this presentation and any documentation relating to the Offer are not being, and must not be, directly or indirectly, mailed or otherwise
forwarded, distributed or sent in or into or from Australia, Canada or Japan or any other jurisdiction where to do so would be unlawful.
This document represents the Company‘s judgment as of date of this presentation.

Please find our privacy notice here: https://www.dpdhl.com/en/data-protection.html

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DPDHL BNP Paribas Exane Pan European Conference 2022 11 29

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BNP PARIBAS EXANE PAN EUROPEAN CONFERENCE

MARTIN ZIEGENBALG, HEAD OF INVESTOR RELATIONS

DPDHL Group Highlights Strategy 2025 Financial Backup

DHL Global DHL eCommerce

*based on closing share price on Nov 7th 2022

Reported Free Cash Flow of €1.8bn, up +45% yoy

Executing on established levers to counter macro slowdown

B2C yoycomparisonsignificantlyimprovedin Q3 Higher e-commercebaselevelvs. preCOVID-19

Expectedfreight marketrebalancingstarted Resilient Q3 performancebyDHL Express

-11% -9% excl. Hillebrand -1% +1%

+3% -15% excl. Hillebrand -4% +25%

Disciplined yield management Full focus on cost management

General Price Increase Cost management

H2 2022 macroeconomic scenario, 2022 EBIT sensitivities

Sudden, sharp GDP deceleration €7.6-8.0bn (LOWER HALF)

Based on currently still valid, solid business momentum >€8.4bn (ABOVE)

New 2022 Group EBIT guidance: €~8.4bn

EBIT 2022 Guidance Mid-term Guidance

DHL ~7.5 (from 7.0 +/- 4%) Free Cash Flow

Main drivers: GROUP ROCE*

Investments CONTINUED INVESTMENT INTO

Capacity Digitalization ESG

to shareholder 2010 2011 2012 2013

return SHARE BUYBACK

Value-accretive STRATEGIC FINANCIAL INTEGRATION

targeted High quality assets, with clear

M&A businesses WACC)

Share buyback policy Financing

RATING TARGET RANGE: BBB+ to A-

DPDHL Group Highlights Strategy 2025 Financial Backup

DHL Global DHL eCommerce

Our purpose guides our efforts and

Our Business Unit focus

Clean operations Great company Highly trusted

Increase share of women in middle and

Environment Social Governance

▪ DHL Global Forwarding agreed on a new SMF

DPDHL Group DSC DeCS P&P Germany

E: CO2e emissions ▪ 50% paid after financial year if bonus criteria

*Divisional EAC: only applicable for Divisional CEOs

growth Asset-light, cyclical

18% 10% German letter business

*excl. Consolidation/Group Functions

Accelerated Data Lake

Digitalization Inventory Dashboard

driving Data Analytics

in all divisions Accelerated growth

DPDHL Group Highlights Strategy 2025 Financial Backup

DHL Global DHL eCommerce

EXPRESS Time Definite

Air Capacity Sales

Investment Summary: Global TDI market share (2021)

▪ Time-Definite-International (TDI) shipments/day yoy slighly

€7,197m €1,012m as well as yield management. 2023 GPI (General Price

#1 AM EU MEA EU MEA EU EU AM AM AP AM MEA AM AM AM AM AM AM AM

#2 MEA MEA EU AM EU MEA AM EU EU AM MEA AM EU EU EU EU EU EU EU

TDI shipment example: Hanoi, Vietnam to Rome, Italy

DHL’s leading Europe

FedEx, incl. TNT

*) vs 2016 including 53 countries

VOLUME PRICING NETWORK

1 VIRTUAL GLOBAL AIRLINE and Network