Q4 & FY 2021 RESULTS

NOTEHOLDER
PRESENTATION

16 March 2022
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Q4 & FY 2021 Results 2

SPEAKERS

JOE PLUMERI CHRISTIAN SCHMITZ PHILIPPE GAUTIER

Executive Chairman Chief Executive Officer Chief Financial Officer

Q4 & FY 2021 Results 3

AGENDA
1. Who we are
2. 2021: Business transformation
3. Financial Highlights
4. Financial Results
5. Conclusion

Q4 & FY 2021 Results 4

01
WHO WE ARE

Joe Plumeri, Executive Chairman

Christian Schmitz, Chief Executive Officer

© Selecta 2021 Confidential 5

ONE SELECTA

HQ in Switzerland Focused on organic &

Foodtech leader with a GLOCAL model accretive growth
(global resources, delivered locally)
across 16 countries in Europe Best-in-class client service
through 7,000 passionate Selecta
owner-associates & associates
Clear purpose of making people feel great
and creating millions of
moments of joy every day Innovative concept leader &
technology driven
410,000 machines generating Leading distributor
revenue of €1.2 billion
#1 or #2 in coffee and
food in 10 markets
Sustainability is
at our core
Q4 & FY 2021 Results 6
SELECTA IS THE FOODTECH LEADER

24x7 accessibility Superior efficiency

of food through tech
through tech

Word-class service
through tech
Q4 & FY 2021 Results 7
02
2021: BUSINESS
TRANSFORMATION
Joe Plumeri, Executive Chairman
Christian Schmitz, Chief Executive Officer

© Selecta 2021 Confidential 8

TRANSFORMATION UPDATE

ONE vision, purpose and culture

Build world class solution portfolio

Partner relationships and client focus

ONE SELECTA 2021
TRANSFORMATION:
DELIVERED Technology platform expansion

Transition to “GLOCAL” model

Rightsizing the organization & investing in people

Executing ESG strategy

Q4 & FY 2021 Results 9

 OUR CULTURE PRINCIPLES

We serve clients, not customers We have 3 commercial priorities – and

We will never accept kingdoms and silos they come in a strict order
The ONE and ONLY purpose of our business
OUR CULTURE is making people feel GREAT
IS ONE OBSESSED We call each other out when we witness bad behaviors –
WITH GREATNESS and we celebrate great performance
Everyone at Selecta must leave the culture they came from
INSPECT WHAT TO EXPECT: THE at the door We serve
RHYTHM OF SELECTA IS DAILY clients, not
SUSTAINABILITY IS AT OUR CORE
customers
We foster We are obsessed with a lean
diversity and structure and low cost
inclusion
OUR CULTURE AND
PRINCIPLES ARE NOT
OPTIONAL

Q4 & FY
© Selecta 2021
2021 Results
Confidential 10
WE OFFER SOLUTIONS THAT RESPOND TO OUR CLIENT NEEDS

Coffee & water Vending & Food

MICROMARKETS
CLASSIC
TABLE TOP COFFEE
VENDING
MACHINES SMARTFRIDGES
MACHINE

WATER SMART
VENDING
MACHINE

FOODIES SHOP&GO

STEAMER
COFFEE
CORNER SNACK
STANDING MARKET
MACHINES

Q4 & FY 2021 Results 11

FOODIES SHOP & GO
• High innovative solution
1st • March 2022
• Hybrid working models
opening • Belgium
• End-to-end consumer experience

Bakery, snacks and non-food offer

Premium fresh food assortment

World class brand premium coffee

• Check-in with credit card or via app

• No check-out need
• Hassle-free, no RFID required

• 10 people shopping at the same time, 24x7

Innovative hot steam food solution • Tracking sensors for monitoring

Q4 & FY 2021 Results 12

24X7 ACCESSIBILITY OF FOOD THROUGH TECH

Breakfast

Lunch

Dinner

+198% 640
Total new units YTD Total points of sale

Q4 & FY 2021 Results 13

GREAT CLIENT WINS IN 2021

v v

Q4 & FY 2021 Results 14

OUR FOODTECH SOLUTIONS ADDRESS THE NEEDS OF OUR CLIENTS

PLAYING TO ONE SELECTA’S

STRENGTHS
Blueprint partnership across Europe
• Innovative food solutions to support employee
retention on site
• Expansion on fresh food in: • Driving unique technology
• UK, 86 live • Best-in-class service capability
• Germany, 60 live • Self-service solution for needs coverage 24x7
• France,16 live • Scale maximisation of our Micro Markets and
• Netherlands,1 live Smartfridges solutions
• Belgium, +1 confirmed 163 LIVE SITES • Centralised Foodies and International
• Austria, +3 confirmed +4 CONFIRMED SITES Accounts teams

Q4 & FY 2021 Results 15

GROWING OUR PARTNER RELATIONSHIPS

Ahold Delhaize Coop Mars Wrigley Coca Cola

Starbucks Red bull Thermoplan Carogusto

Q4 & FY 2021 Results 16

NEXT-LEVEL TECH TO BRING FRESH FOOD SOLUTIONS

• We extended our partnership with

Carogusto
• Carogusto provides our Foodies
“SiSiSi Qeamer” concept: innovative hot steam food solutions
• Premium hot food • Hot-steamed meals ready to serve in
• Next-level technology just 30-45 seconds
• Hybrid working models • QR Scan technology for the machine
• Ready to eat, 24x7 recognizes each menu and adjusts the
heating accordingly

Q4 & FY 2021 Results 17

DIGITAL EXPANSION IN OUR MACHINE PARK

• Attractive product presentation

Partnered with
• Easier and multi-buy options
Mars Wrigley,
to install 500- • Personalized product suggestions
1,000 machines
• Detailed product information
in the UK
• Promotion and advertising opportunity
• Consumer data richness
• Remote planogram updates

Selecta own-branded
+20-30% sales uplift machines in the UK
compared to traditional vending

Q4 & FY 2021 Results 18

 TECHNOLOGY PLATFORM EXPANSION

24x7
accessibility
of food

Telemetry B2B Portal Client app Website

For superior service

Word class Completed first roll-out Roll-out of new Website
B2B web going live in support: machine break
service phase for Italy, Spain & across all markets in
2022! down reporting and
Belgium Q1 2022
technical repair needs

Dynamic planning Analytics & IoT CRM ERP

Analytics platform “One Selecta CRM”
Superior Data driven planograms developed for asset implementation Working towards One
efficiency and route planning to utilization & reporting completed in just six Selecta ERP in first
support productivity based on real-time IoT months and developing markets in 2022
data digital lead generation
Q4 & FY 2021 Results 19
WE CONTINUE TO GROW OUR TELEMETRY SOLUTION

Machines park with Telemetry evolution

+38%
+37%
+19%
180k
95k 130k
80k

Dec-20 Dec-21 Dec-22 Dec-23

Penetration
31% 37% 51% 71%
rate (%)

Note: same eligible machine park being used to calculate penetration rate (c.254k machines) Q4 & FY 2021 Results 20
NEW SELECTA.COM!

Q4 & FY 2021 Results 21

 TRANSITION TO GLOCAL MODEL

Global HR global • Compensation: Global

• Asset utilisation
SIP, MEP, job architecture
• Service and business performance standard • Glocal training: needs
KPIs
management processes base selling, EdApp

International • Brand new structured

• Need analysis process
Global needs- team
across group accounts team
• Uplifting Client Care based solutions Key creation
• International client
segmentation
GLOCAL
elements
• Telemetry platform Category • Solutions development
• Brand new CRM
Single tech • Global partnerships
management
• ERP across 16 markets platform • Glocal planogram set up
impulse

• 4 pillar approach Deepen

• Main targets developed
for all areas sustainability
• Glocal action plan strategy
Q4 & FY 2021 Results 22
RIGHTSIZING THE ORGANIZATION & INVESTING IN PEOPLE

Rightsizing completed by Equity Driver

program training
2021 year end
Sales
incentive Glocal
-30% program capabilities

FTEs 7,000 Sales

training
Vehicle Fleet 5,000

Q4 & FY 2021 Results 23

OUR ESG STRATEGY

1 RESPECTING THE ENVIRONMENT

2 HEALTHY & SUSTAINABLE PRODUCTS

• Healthy products
• CO2 & Climate action
• Machine recycling
• Waste reduction
• Sustainable packaging

3 SUSTAINABLE SUPPLY CHAIN

4 EMPLOYER OF CHOICE

• Fair labor practices

• Health, Safety & Well-being
• Responsible sourcing
• Learning & Development
• Sustainable agriculture
• Equity, Diversity & Inclusion
• Selecta´s Coffee Fund projects

GOVERNANCE

• Ethical Business Conduct

• Respecting Human Rights
Q4 & FY 2021 Results 24
OUR ESG INITITATIVES

CO2 & Climate action Sustainable Packaging

• We supplied 1.1 billion cups for our clients, all of our cups
• Telemetry and electrification of fleet to are recyclable and every paper cup is either
achieve emissions reduction: PEFC or FSC certified
• Route optimization
• In some locations we collect and responsibly
• Decreasing machine visits recycle clients’ paper cups
• Introducing electric and plug-in hybrid
vehicles in our fleet • We are testing mono-material coffee packaging
in our Roaster

Selecta´s Coffee Fund projects Diversity & Inclusion

• We are taking actions to reduce bias towards

greater gender diversity
• Burundi and Rwanda funds in place • Development through
• Purpose to support household income of farmers coaching & training
• In 2021 we collected c.€200k
29% of our associates
are women

Q4 & FY 2021 Results 25

WE ARE PREPARED TO ADDRESS THE NEEDS OF THE NEW MARKET
LANDSCAPE

Today’s needs Reasons why:

• Work ≠ workplace • Connection &

• Canteen closures community
• Self-service & 24x7 • 24x7 Availability
delivery • Modernising spaces
• Employers competing • Uplifting the
for talent experience
• Conscious food choices • Safe & secure
• Sustainability footprint

Q4 & FY 2021 Results 26

03
FINANCIAL
HIGHLIGHTS
Christian Schmitz, Chief Executive Officer

© Selecta 2021 Confidential 27

STRONG PROFITABILITY DESPITE CONTINUOUS HEADWINDS
FY 2021 FINANCIAL SUMMARY1

Net sales growth Adjusted EBITDA

+3.2% €199.3m • Sales impacted by the pandemic throughout the

year, although the Group saw a gradual pick up in
Sales of €1,039.7m +€114.1m vs last year the year reaching 73% of 2019 levels

Reported EBITDA • Adjusted EBITDA2 overachieved by +€26m the

Adj. EBITDA margin
noteholder plan, despite sales pressure. Adjusted
€158.1m 19.2% EBITDA margin up +10.7pp driven by strong cost
savings whilst investing in commercial initiatives
+€138.7m vs last year +10.7pp vs last year
• Reported EBITDA and FCF impacted by one-offs
due to a deeper rightsizing
Free cash flow Liquidity headroom3
• Resilient liquidity headroom, ahead of noteholder
€15.7m €154.1m plan was maintained due to strong cash discipline

1Atactual exchange rates. There is no material difference from constant currency rates. All numbers include the impact of IFRS 16
2Adjusted EBITDA: Earnings before Interest, Tax, Depreciation and Amortization and prior to one-off items (external and internal costs which are not related to the on-going
business)
3Cash at Bank of €52.2m plus €101.9m available RCF Q4 & FY 2021 results 28
 2021 GRADUAL SALES RECOVERY, ALTHOUGH PANDEMIC PRESSURE1

2021 net sales by quarter as of 2019 (%)

2019
2020
2021
• Sales continue to be
impacted by the 65% 74% 76% 80%
pandemic €286m
€258m €261m
€235m
• Gradual recovery of
the activity quarter on
quarter despite tough
trading conditions
faced in Q4-21, 65% 74% 76% 79%
reaching year peak of
82% of 2019 levels in Q1-21 Q2-21 Q3-21 Q4-21
the month of
November 73%

FY-21

Note: 2019 figures have been adjusted for one-time impacts

Q4 & FY 2021 results 29
QUARTER AFTER QUARTER PROFITABILITY IMPROVEMENT1

Net sales and Adjusted EBITDA2 by quarter

• Q4-21 sales increased by
Net sales
+15.7% vs last year and Adj. EBITDA
favourable versus last €319.4m
quarter €286.3m
€250.5m €247.4m €258.0m €260.8m
• Strong increase of Q4-21 €234.5m
Adjusted EBITDA2 versus €190.5m
last year, margin
reaching 22.6%
• Quarter profitability €48.4m €52.5m €64.7m
€28.6m €29.9m €33.8m
improvement, driven by €28.2m
-€1.7m
sales improvement and
Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Q3-21 Q4-21
structural cost savings
ramping up as a result of Adj. EBITDA
9.0% -0.9% 11.9% 11.4% 14.4% 18.7% 20.1% 22.6%
Margin (%)
rightsizing

1Atactual exchange rates. There is no material difference from constant currency rates. All numbers include the impact of IFRS 16
2Adjusted EBITDA: Earnings before Interest, Tax, Depreciation and Amortization and prior to one off items (external and internal costs which are not related to the on-going
business) Q4 & FY 2021 results 30
04
FINANCIAL
RESULTS
Philippe Gautier, Chief Financial Officer

© Selecta 2021 Confidential 31

SALES IMPROVEMENT AND STRONG INCREASE IN PROFITABILITY
Q4 2021 FINANCIAL SUMMARY1

Net sales growth Adjusted EBITDA

+15.7% €64.7m • Despite restrictions due to COVID variant, the

Sales of €286.3m +€36.5m vs last year Group continued to see gradual sales pick up
reaching 79% of 2019
Reported EBITDA Adj. EBITDA margin • Adjusted EBITDA2 margin up +11.2pp driven by
strong cost savings whilst investing in commercial
€48.2m 22.6% initiatives
+€56.3m vs last year +11.2pp vs last year • Reported EBITDA and FCF impacted by one-offs
due to a deeper rightsizing
Free cash flow Liquidity headroom3 • Resilient liquidity headroom, ahead of noteholder
plan was maintained due to strong cash discipline
-€9.0m €154.1m
1Atactual exchange rates. There is no material difference from constant currency rates. All numbers include the impact of IFRS 16
2Adjusted EBITDA: Earnings before Interest, Tax, Depreciation and Amortization and prior to one-off items (external and internal costs which are not related to the on-going
business)
3Cash at Bank of €52.2m plus €101.9m available RCF Q4 & FY 2021 Results 32
SMD RECOVERED BUT NOT YET AT PRE-PANDEMIC LEVEL
Q4 GROUP – SALES BY SEGMENT

Machines SMD Net Sales

325k €9.3 €224.0m
-8.6% vly +22.3% vly +14.2% vly
-19.0% v19 -6.9% v19 -23.3% v19

Vs Q4-20:
• Strong increase in SMD in all segments, more than offsetting machine park reduction
• Strongest increase seen in Semi-Public and Public

Vs Q4-19:
• SMD recovered but not yet at pre-pandemic level due to Private segment
• Semi-public and Public SMD, fully recovered to 2019 levels

Note: SMD calculation = Net Sales / Machines / Working Days. Net Sales: excludes trade, water, microwaves, fridges & OCS and also machines which are only rented or
technical serviced. Machines: 4-month average of all serviced machines both owned and leased by Selecta. Working Days: Group average for Private & 7 working days for Q4 & FY 2021 Results 33
Public and Semi-Public.
SALES IMPROVING DESPITE HEADWINDS IN THE QUARTER
Q4 PRIVATE - SALES BY SEGMENT

Machines SMD Net Sales

237k €9.2 €139.1m
-9.0% vly +14.3% vly +3.5% vly
-16.9% v19 -13.1% v19 -27.1% v19

• Vs Q4-20:
• Sales improving (+3.5%) driven by both Services & Administration and Manufacturing & Logistics
• SMD (+14.3%) offsetting the machine park reduction (-9.0%)
• Vs Q4-19:
• Sales (-27.1%) due to SMD (-13.1%) still not recovered to pre-pandemic levels and reduction of
machine park (-16.9%):
• Services and Administration: remains the most affected business with continued pandemic
impact from client attrition and working from home policies
• Manufacturing and Logistics: impacted by supply chain issues
Note: SMD calculation = Net Sales / Machines / Working Days. Net Sales: excludes trade, water, microwaves, fridges & OCS and also machines which are only rented or
technical serviced. Machines: 4-month average of all serviced machines both owned and leased by Selecta. Working Days: Group average for Private & 7 working days for Q4 & FY 2021 Results 34
Public and Semi-Public.
IMPROVEMENT IN SMD WITH A LOWER MACHINE BASE
Q4 SEMI-PUBLIC - SALES BY SEGMENT
Machines SMD Net Sales
68k €6.9 €43.1m
-8.8% vly +55.3% vly +41.6% vly
-28.8% v19 +1.8% v19 -27.6% v19

• Vs Q4-20:
• Strong sales improvement (+41.6%) driven by Education, Healthcare and HoReCa with Retail
slightly lagging
• Strong SMD improvement (+55.3%) with a machine park reduction (-8.8%)
• Vs Q4-19:
• Sales still significantly off (-27.6%) with HoReCa almost recovered, Education, Healthcare and
Retail are gradually closing the gap
• SMD recovered versus 2019 (+1.8%) with a strong machine park reduction (-28.8%)

Note: SMD calculation = Net Sales / Machines / Working Days. Net Sales: excludes trade, water, microwaves, fridges & OCS and also machines which are only rented or
technical serviced. Machines: 4-month average of all serviced machines both owned and leased by Selecta. Working Days: Group average for Private & 7 working days for Q4 & FY 2021 Results 35
Public and Semi-Public.
FULLY RECOVERED PRE-PANDEMIC SMD
Q4 PUBLIC - SALES BY SEGMENT

Machines SMD Net Sales

19k €23.1 €41.8m
-2.9% vly +38.0% vly +34.0% vly
-3.4% v19 +3.5% v19 -0.1% v19

• Vs Q4-20:
• Strong sales improvement (+34.0%) driven by all business areas
• Stable machine park development with a strong SMD contribution (+38.0%)
• Vs Q4-19:
• Sales fully recovered versus pre-pandemic levels driven by Railways and Energy, with a quasi
stable machine park development and SMD turning slightly positive (+3.5%)

Note: SMD calculation = Net Sales / Machines / Working Days. Net Sales: excludes trade, water, microwaves, fridges & OCS and also machines which are only rented or
technical serviced. Machines: 4-month average of all serviced machines both owned and leased by Selecta. Working Days: Group average for Private & 7 working days for Q4 & FY 2021 Results 36
Public and Semi-Public.
GRADUAL ACTIVITY PICK UP ACROSS ALL OUR REGIONS
Q4 2021 NET SALES AND ADJUSTED EBITDA BY REGION
South, UK&I Central North

Q4-19 Q4-20 Q4-21 Q4-19 Q4-20 Q4-21 Q4-19 Q4-20 Q4-21

€134.8m €118.9m €106.7m

Net Net Net
€82.5m -30.1% €82.8m -22.5% €82.1m -6.4%
Sales Sales Sales
+14.2% +11.3% +21.7%
€94.2m €92.2m €99.9m

€13.8m €13.1m €17.8m

Adj. Adj. Adj.
€11.3m 13.6% €11.5m 13.9% €8.0m 9.7%
EBITDA EBITDA EBITDA EBITDA EBITDA EBITDA
Margin -% Margin -% Margin -%
€22.2m 23.5% €22.4m 24.3% €25.0m 25.0%

• Sales increased by +14.2% vly and • Sales increased by +11.3% vly and • Sales increased by +21.7% and Adj.
Adj. EBITDA margin +10pp vly driven Adj. EBITDA margin +10pp vly, EBITDA margin +15pp vly, driven by
by better trading conditions in ES and driven by better trading conditions in strong increase in Roaster, BE, DK,
the UK due to easing of lockdowns FR and AT whilst tougher conditions in NO all above Group average
and work from home policies DE and particularly in CH due to
lockdowns

1Atactual exchange rates. There is no material difference from constant currency rates. All numbers include the impact of IFRS 16 Q4 2021 Results 37
Note: North region includes Roaster, none of the regions include headquarters
ACTIVITY PICKING UP IN ALL OUR COUNTRIES
NET SALES BY COUNTRY VS 2019 LEVELS1
0% 20% 40% 60% 80% 100%
Q4-20 vs 2019
France Q4-21 vs 2019
UK incl. EV

Italy

Spain • Four key markets (France, UK&I, Spain and Italy),

Belgium which were the most affected by the pandemic, due
Selecta
69% to the working from home impact in the Private
79%
segment and client attrition, saw a strong sales
Switzerland
increase year on year
Netherlands

Sweden • Rest of the countries’ significantly narrowed gap vs

Denmark 2019
Finland

Germany

Austria

Norway

1At actual exchange rates. There is no material difference from constant currency rates. All numbers include the impact of IFRS 16
Q4 & FY 2021 Results 38
SALES IMPROVEMENT WITH RESTRUCTURED COST BASE DRIVING
STRONG PROFITABILITY
Q4 2021 ADJUSTED EBITDA1
€m Q4-21 Q4-20 vly
Revenue 326.9 281.3 +16.2%
Adjusted EBITDA
Vending fees -40.6 -33.9 +19.9% • Total cost reduction of -8.2% vly despite strong sales
Net Sales 286.3 247.4 +15.7% growth (+15.7%) and reduction of -34.9% vs Q4-19:
Gross Profit 175.0 147.0 +19.1%
• Personnel expenses ratio down -9.3pp vly due to
% of sales 61.1% 59.4% +1.7pp
the ramp up of structural cost savings and despite
Personnel Expenses -78.5 -90.9 -13.7%
much lower furlough in the quarter (€2m vs €13m last
% of sales 27.4% 36.7% -9.3pp
year). Also down -34.4% vs Q4-19 in line with
Other Overheads -41.6 -39.8 +4.4%
rightsizing
% of sales 14.5% 16.1% -1.6pp
Total Costs -120.0 -130.7 -8.2% • Other Overheads costs ratio down -1.6pp vly driven
% of sales 41.9% 52.8% -10.9pp by zero-based budgeting initiatives
IFRS 16 impact 9.7 11.9 -19.0%
One-offs
Adjusted EBITDA 64.7 28.2 n.m.
One-offs -16.5 -36.3 -54.6% • €16.5m charges related to rightsizing
Reported EBITDA 48.2 -8.1 n.m.

1 At actual exchange rates. There is no material difference from constant currency rates. All numbers include the impact of IFRS 16 unless otherwise stated
Q4 & FY 2021 Results 39
CONTINUED COST REDUCTION WITH ACTIVITY PICKING UP
Q4 2021 OTHER OVERHEADS COSTS1

€m Q4-21 Q4-20 vly Q4-21 Other overheads breakdown

Other Overheads1 -41.6 -39.8 +4.4% Real estate

% sales 14.5% 16.1% -1.6pp & leases;
Selling; 7% 20%
Logistics;
19%
• Q4-21 Other Overheads costs ratio down -1.6pp with
a strong increase sales growth +15.7%, shows
continued flex in our cost base
IT; 20%
• OOH reduction is driven by continued zero-based
budgeting initiatives implemented throughout the year Vehicle Fleet; 26%
on all cost items whether fixed or variable such as PoS maintenance;
Vehicle Fleet, Real Estate and IT 7%

• Current cost structure showing roughly:

60% variable – 40% fixed

1 At actual exchange rates. There is no material difference from constant currency rates. All numbers do not include the impact of IFRS 16
Q4 & FY 2021 Results 40
CASH CAPEX OPTIMISED AT 7% OF SALES IN 2021
2021 CAPEX1
Net capex2

€98.3m
• FY-21 net capex of €98.3m of which €72m is
€43.8m cash capex, represented 7% of sales
• Capex primarily driven by new business from
existing or new clients
Q4-21 FY-21
• Capex continues to be optimized through
FY-21 Gross capex efficient use of refurbished machines and
(excl. IFRS 16) proposal of leasing solutions to our clients
• Client lease solutions over FY-21 sum up to
IT & Infrastructure; €c.36m capex
22%

Machines; 78%
Infrastructure includes Vehicles, Real Estate and Telemetry

1 At actual exchange rates. There is no material difference from constant currency rates. All numbers include the impact of IFRS 16, unless otherwise stated
2 Net capital expenditures is defined as capital expenditures less net book value of disposal of assets including impact of IFRS 16 Q4 & FY 2021 Results 41
 WORKING CAPITAL IMPACTED BY ACTIVITY PICK UP AND RIGHTSIZING
Q4 2021 WORKING CAPITAL1

Trade working capital2 One-offs cash out recap 2020-2021

€m Dec-21 Sep-21 Dec-20 One-offs booked One-offs cash out

Accounts receivable 97.5 79.5 64.4 65.8 64.2
Other receivable 43.9 54.2 47.7
36.0 41.2
Inventory 116.3 112.0 99.3
Accounts payable -173.8 -152.8 -147.4
Other payable -98.6 -112.4 -102.3
Trade Working Capital -14.7 -19.6 -38.3 2020 2021

• Trade working capital less negative than previous quarter Since Selecta started the rightsizing one-offs have
due to gradual pick-up of activity been booked and cash out in 2020 and 2021:
• Other payable continued to be impacted by cash out of • Total booked: €124.0m*
one-offs as well as government support repayments • Total cashed out: €100.2m

1At actual exchange rates. There is no material difference from constant currency rates. All numbers include the impact of IFRS 16
2Trade working capital includes all asset and liabilities which are relevant to manage the daily operation and exclude financing and tax positions
*Total P&L one-off costs of 2020 and 2021 exclude €17m which have been re-charged to Selecta Group AG, therefore out scope of consolidation for IFRS reporting
purposes. Q4 & FY 2021 Results 42
RESILIENT LIQUIDITY & SIGNIFICANT DELEVERAGING
2021 LEVERAGE AND CASH LIQUIDITY EVOLUTION1,2

€m Dec-21 Sep-21 Jun-21 Mar-21 Dec-20 • Group available liquidity of €154.1m

Cash & cash equivalents 60.0 84.8 85.5 67.3 127.9 as per Dec-21 is defined as Cash at
bank of €52.2m plus available
Revolving credit facility 41.6 52.8 48.0 20.0 40.0
Revolving Credit Facility (RCF) of
Senior notes 973.5 972.4 934.9 934.8 935.3 €101.9m
Lease liabilities 35.3 35.3 27.7 28.5 31.0
• Cash at Bank of €52.2m and
Other finance debt 61.6 31.4 64.0 44.4 32.1 cash in points of sale of €7.8m
Gross senior debt 1,112.0 1091.8 1,074.6 1,027.6 1,038.4 resulting in €60.0m cash and cash
Net senior debt 1,052.0 1,007.0 989.1 960.3 910.6 equivalents
Adjusted EBITDA last twelve months 155.7 116.9 91.9 41.1 36.3 • Available RCF of €101.9m out of
Leverage ratio 6.8 8.6 10.8 23.4 25.1 €150m total committed facility
(€41m drawn RCF and €6.5m
Reported EBITDA last twelve months 114.5 55.9 20.3 -28.5 -29.5
used for bank guarantees)

Leverage ratio 9.2 18.0 48.7 n.m n.m • First lien and second lien notes of
€973.5m equivalent

1 Excludes IFRS 16
2 Q4 & FY 2021 Results 43
Liquidity is defined as Cash at Bank plus available RCF
RESILIENT LIQUIDITY POSITION MAINTAINED IN THE YEAR

• Strong FCF generation of €15.7m despite one-offs impact related to the rightsizing
• Additional liquidity gain of €14.1m related to guarantee releases
• Notes interest of €17.5m paid on July 1st

Liquidity bridge FY-21

(incl. IFRS 16)
€199.3m €64.2m

€71.8m

€47.6m
€29.6m
€206.8m €60.9m
€15.7m €14.1m €154.1m
€8.0m
FCF

Liquidity at Adj. EBITDA One-offs Capex WC Interest and Fin. lease Net proceeds Guarantees Liquidity at
Dec-20 other fin. costs liability of borrowings and other Dec-21

Note: Net proceeds of borrowings includes RCF change

Q4 & FY 2021 Results 44
05
CONCLUSION

Joe Plumeri, Executive Chairman

Christian Schmitz, Chief Executive Officer

© Selecta 2021 Confidential 45

CONCLUSION

• Resilient liquidity position maintained in the year

enabling us to invest for growth
• We are prepared to address the needs of the new
market landscape

• Strong confidence in achieving our strategic plan

in 2022 and beyond

Q4 & FY ©
2021 Results
Selecta 2021 46
APPENDICES

© Selecta 2021 Confidential 47

Q4 2021 P&L SUMMARY AND CASH FLOW STATEMENT1
Q4 P&L summary Q4 Cash flow statement
€m Q4-21 Q4-20 Var. €m Q4-21 Q4-20
Revenue 326.9 281.3 +16.2% Reported EBITDA 48.2 -8.1
Vending fees -40.6 -33.9 +19.9% (Profit) / loss on disposals -0.4 -1.0
Net Sales 286.3 247.4 +15.7% Changes in working capital, provisions & others -24.4 33.9
Cost of good sold -111.3 -100.4 +10.9%
Non-cash transactions 3.0 -4.9
Gross profit 175.0 147.0 +19.1%
Net cash used in operating activities 26.3 19.8
Adjusted employee costs -78.5 -90.9 -13.7%
Purchases of tangible and intangible assets -35.3 -15.9
Adjusted other operating expenses -41.6 -39.8 +4.5%
Acquisition of subsidiaries 0.4 0.1
Adjusted EBITDA excl. IFRS 16 55.0 16.3 n.m.
IFRS 16 Proceeds from sale of subsidiaries and other proceeds -0.6 3.3
9.7 11.9 -19.0%
Adjusted EBITDA 64.7 28.2 n.m. Interest received and other proceeds paid 0.2 -0.4

One-off adjustments -16.5 -36.3 -54.6% Net cash used in investing activities -35.3 -13.0
Reported EBITDA 48.2 -8.1 n.m. Free cash flow -9.0 6.8
Depreciation -37.3 -39.6 -5.9% Proceeds / repayments of loans and borrowings -4.9 28.8
EBITA 10.9 -47.8 n.m. Interest paid -3.1 4.4
Amortisation and impairments -17.2 -100.1 n.m. Capital element of finance lease liability -8.0 -16.8
EBIT -6.4 -147.9 n.m.
Net cash (used in) / generated from financing activities -16.0 16.4
Total net cash flow -25.0 23.2
Gross profit % of net sales 61.1% 59.4% +1.7pp
Adjusted EBITDA % (incl. IFRS 16) of sales 22.6% 11.4% +11.2pp
EBITDA % of net sales 16.8% -3.3% +20.1pp
EBIT % of net sales -2.2% -59.8% +57.5pp

1 At actual exchange rates. There is no material difference from constant currency rates. All numbers include the impact of IFRS 16 unless otherwise stated Q4 & FY 2021 Results 48
YTD 2021 P&L SUMMARY AND CASH FLOW STATEMENT1
YTD P&L summary YTD Cash flow statement
€m YTD-21 YTD-20 Var. €m YTD-21 YTD-20
Revenue 1,184.4 1,141.4 +3.8% Reported EBITDA 158.1 19.4
Vending fees -144.7 -133.7 +8.2% (Profit) / loss on disposals -5.2 -5.7
Net Sales 1,039.7 1,007.7 +3.2% Changes in working capital, provisions & others -66.7 96.8
Cost of good sold -396.1 -399.6 -0.9% Non-cash transactions 1.3 -2.4
Gross profit 643.6 608.1 +5.8%
Net cash used in operating activities 87.5 108.0
Adjusted employee costs -319.0 -362.6 -12.0%
Purchases of tangible and intangible assets -83.2 -54.1
Adjusted other operating expenses -168.9 -209.3 -19.3%
Acquisition of subsidiaries - -3.1
Adjusted EBITDA excl. IFRS 16 155.7 36.3 n.m.
Proceeds from sale of subsidiaries and other proceeds 11.2 13.4
IFRS 16 43.6 48.9 -10.8%
Interest received and other proceeds paid 0.2 -0.4
Adjusted EBITDA 199.3 85.1 n.m.
One-off adjustments* -41.2 -65.8 -37.7% Net cash used in investing activities -71.8 -44.2

Reported EBITDA 158.1 19.4 n.m. Free cash flow 15.7 63.9

Depreciation -147.5 -162.4 +9.2% Proceeds / repayments of loans and borrowings 8.0 126.1
EBITA 10.6 -143.0 n.m. Interest paid -29.6 -63.8
Amortisation and impairments -61.2 -146.8 n.m. Capital element of finance lease liability -60.9 -63.1
EBIT -50.6 -289.7 n.m. Net cash (used in) / generated from financing activities -82.7 -0.7
Total net cash flow -67.1 63.2
Gross profit % of net sales 61.9% 60.3% +1.6pp
Adjusted EBITDA % (incl. IFRS 16) of sales 19.2% 8.4% +10.7pp
EBITDA % of net sales 15.2% 1.9% +13.3pp
EBIT % of net sales -4.8% -28.8% +23.9pp

1At actual exchange rates. There is no material difference from constant currency rates. All numbers include the impact of IFRS 16 unless otherwise stated Q4 & FY 2021 Results 49
*Total P&L one-off costs of 2020 and 2021 exclude €17m which have been re-charged to Selecta Group AG, therefore out scope of consolidation for IFRS reporting purposes
ADDITIONAL DEBT DETAIL

Q4 2021 Net Debt Leverage

€m Q4-21 Q4-20
Pre IFRS 16 IFRS 16 Post IFRS 16 Pre IFRS 16 IFRS 16 Post IFRS 16
Cash & cash equivalents 60.0 - 60.0 127.9 - 127.9
Revolving credit facility 41.6 - 41.6 40.0 - 40.0
Senior notes 973.5 - 973.5 935.3 - 935.3
Lease liabilities 35.3 158.4 193.7 31.0 195.6 226.6
Other finance debt 61.6 6.5 68.1 32.1 - 32.1
Factoring facilities 8.5 - 8.5 15.3 - 15.3
Accrued interest 41.5 - 41.5 13.7 - 13.7
Other finance debt 11.6 6.5 18.1 3.1 - 3.1
Gross senior debt 1,112.0 164.9 1,276.9 1,038.4 195.6 1,234.1
Net senior debt 1,052.0 164.9 1,216.9 910.5 195.6 1,106.2
Adjusted EBITDA last twelve months 155.7 43.6 199.3 36.3 48.9 85.1
Leverage ratio 6.8 6.1 25.1 13.0

1 Atactual exchange rates. There is no material difference from constant currency rates
2 Lease liabilities breakdown: Q4-21 €158.4m operating lease liabilities and €35.3m other lease liabilities; Q4-20 €195.6m operating lease liabilities and €31m other Q4 & FY 2021 Results 50
lease liabilities
Q4 2021 REVENUE AND REVENUE PER MACHINE PER DAY BY CHANNEL1,2

Q4 2021 Revenue and RMD by channel

Revenue RMD
€m Q4-21 Q4-20 Q4-19 € Q4-21 Q4-20 Q4-19
Private 139.1 134.4 190.8 Private 9.2 8.1 10.6
Semi-public 73.6 57.9 75.5 Semi-public 40.7 31.1 40.3
Public 51.9 37.6 74.0 Public 8.3 5.5 8.4
Group 264.6 230.0 340.4 Group 10.6 8.5 11.2

1 At actual exchange rates. There is no material difference from constant currency rates.
2 Q4 & FY 2021 Results 51
Group figure excludes Trade sales as RMD does not apply to this channel
Q4 2021 ADJUSTED EBITDA BY REGION1

Q4 2021 Adjusted EBITDA by region

€m Q4-21 Q4-20
South, UK and Ireland 22.2 11.3
Central 22.4 11.5
North 25.0 8.0
Corporate -4.9 -2.5
Group 64.7 28.2

1 At actual exchange rates. There is no material difference from constant currency rates. All numbers include the impact of IFRS 16 Q4 & FY 2021 Results 52
OUR SOLUTIONS AND WHERE ARE THEY

Our solutions Our segments Our sectors

Coffee & Water: owned Private: serving employees of private businesses Private
and partner premium (Service, Admin & Other and Manufacturing &
Logistics) 1. Manufacturing & Logistics
coffee brands and water 2. Services, Administration and
Vending & Food: Semi-public: serving semi-public sites Others
diverse range of snacks, (Education, Healthcare and HoReCa)
cold drinks and food Public: serving public locations (Railways, Energy Semi-Public
Trade: sale of coffee and and Airports) 1. Education & Healthcare
ingredients Trade: coffee and ingredient sales in private, 2. Distribution, Retail,
public and semi-public segments Entertainment & Others
3. HoReCa

FY-21 revenue (%) FY-21 revenue (%) Public

1. Energy
19% 2. Railways
25% 3. Airports
44%
48%
23%
27%
14%

Q4 & FY 2021 Results 53

THE FOUNDATION OF OUR ESG AMBITION

1 RESPECTING THE ENVIRONMENT

As a sourcing and distribution company we aim to
2 HEALTHY & SUSTAINABLE PRODUCTS
We aim to bring sustainable products and integrate
reduce CO2 impact across our value chain, from farm circularity in our client solutions, including sustainable
to cup. In our operations this is being done through packaging, waste collection and recycling and smart
route optimization and shifting our fleet toward electric and sustainable vending machines. We also aim to
vehicles. We take steps to reduce CO2 emissions in our expand the healthy food and beverage options we offer
supply chain, to learn and increase impact overtime and and drastically reduce food waste. We offer fully
achieve Carbon Neutrality by 2050. We will radically certified and sustainable coffee in mono-material
reduce and recycle waste in our production. packaging.

3 SUSTAINABLE SUPPLY CHAIN

4 EMPLOYER OF CHOICE

We assess our suppliers against the Selecta Code of

Conduct, based on the 10 Principles of the UN Global
We strive to make Selecta a great place to work for our
Compact. Through the Selecta Coffee Fund, we
Associates of all backgrounds by ensuring individuals
actively contribute to long-term improvements in quality
are supported through necessary training to do their
of life for local farmers and the environment in the
jobs safely and develop professionally
origins of Selecta coffee. We work on collaboration and
transparency in our supply chain.

Q4 & FY 2021 Results 54