Today, Prosus published a letter to shareholders from CEO Fabricio Bloisi, which outlines Prosus’s performance for the financial year ending 31 March 2025. The financial information disclosed today has yet to be audited.

Highlights include:

• FY25 Ecommerce aEBIT of more than $435 million, exceeding our goal of $400 million
• OLX revenue growing at close to 20%, with FY25 aEBIT up over 50% to around $270 million
• iFood delivering over 120m orders per month, and FY25 aEBIT increased by more than 100% to more than US$200m.
• $2.4 billion raised through trimming of Swiggy position at listing, selling of stakes in Trip and Tazz, trimming of Udemy position and completing sale of payments businesses in Latin America and Africa.
• $35 billionn returned through ongoing share repurchase programme

Read the letter here or see below:

Closing the Fiscal Year, but Just Starting!

Dear Partners,

Hello! Prosus’s financial year 2025 has closed, we have completed our strategic planning,
communicated the plan to our employees and started FY 2026 well. We are on our way,
building the #1 Lifestyle Ecommerce company in Europe, India and Latin America.

We will announce our full results in June and you will see that Prosus continues to grow
revenue and profitability strongly, but I want to continue giving you more quick updates
on how things are going on a more timely basis. That is why I am writing to you today.

To start, we have made very good progress on Culture. We implemented the “Prosus
Way”, focusing on Entrepreneurship, Results, Innovation, People and Impact, as well as
a new management model with a strong focus on results and alignment. Today, our team
is more informed, engaged and empowered to take risks and drive innovation and growth.

But the important thing is delivering results and here are some updates on that:

• In October, I set a goal of delivering $400 million in aEBIT for our ecommerce
  portfolio in FY 2025. I am very happy to say we have exceeded our goal and will report
  more than $435 million for the year. For FY 2026, I want to achieve at least the same
  level of incremental aEBIT. This is important because we should be measuring our
  results not by the millions, but by many, many billions and we will get there. I will
  speak more about projections after our results.
• OLX is one of the largest classifieds companies globally, growing revenue close to 20%,
  faster than its peers with room for significant margin expansion. OLX’s aEBIT increased
  by over 50% this year to about $270 million and we believe the runway for further
  growth is long and that the business’s performance will only continue to improve.
• iFood has already delivered over 120 million orders in a month and continues to
  expand its opportunity on and offline, as well as growing its credit and payments
  business. Its subscription product, Clube, is already delivering ~40 million orders per
  month with increased frequency and retention. iFood grew its aEBIT by more than
  100% this year to more than $200 million and I expect further significant improvement
  next year.
• India presents Prosus with incredible opportunity. In late 2024, Swiggy achieved a
  major milestone by going public. Recently, we invested in Rapido which is growing
  more than 100% year-on-year in Ride Hailing and doing more than 3M rides per day.
  We have invested $8.6 billion in India, we have seen a very good return already, and
  we continue to see a lot of opportunity in the region.

As the business delivers improved results, we have announced the acquisition of two
companies to strengthen our ecosystems in LatAm and in Europe. These businesses are
profitable leaders in their industries and we are very confident we can help them accelerate
growth and profitability further to create substantial value.

A quick note on each:

• In Despegar, we are adding the leading Online Travel Agency in Latin America. The
  business has strong brand awareness, is growing, profitable and will integrate well into
  our larger ecosystem. More importantly, we believe iFood’s 60 million customer base
  can substantially contribute to Despegar’s growth once the transaction closes.
• In JustEatTakeaway, we will add to our global footprint in food delivery and create a
  European tech champion. We will bring our operating and technology competence in
  this industry to reaccelerate growth in a strong brand operating in very attractive
  markets. I am confident we will create substantial value and strong returns here.

I am very excited to bring both companies into Prosus. The team is working hard on the
regulatory approvals to close the transactions ASAP, and I am working hard to make ASAP
happen more quickly. Rather than invest in many new things, my clear priority now is to
bring both companies into Prosus and grow them strongly.

I am happy to say that our biggest investment to date has been in ourselves and in the
future of Prosus through our Share Repurchase Program. We have returned over $35
billion across the Group since the beginning of the program and shrunk the free floats of
Prosus by 27% and Naspers by 25%. This is the largest buyback of its kind as a percentage
of market capitalisation and I know our shareholders appreciate it.

Keeping our discipline is as important as thinking big, and active portfolio management
remains a priority as we aim to maximize value for all stakeholders. We made important
moves during the year, bringing in almost $2.4 billion through trimming our position in

Swiggy at its listing, selling our stakes in Trip and Tazz, trimming of our position in
Udemy and completing the sale of our Payments business in Latin America and Africa.

We will continue to actively manage our portfolio.

We also want to create the future through innovation. Some of our investments include
companies we believe can disrupt the future though AI, such as: Corti which develops AI
systems for Healthcare use cases; Zapia, an all-in-one AI assistant built for Latin America
accessible via WhatsApp; Altera which is an applied research company building AI agents
for open-ended computer use; and Taktile which is a platform that empowers risk experts
by using AI to build, monitor and optimize automated risk outcomes for payment and
finance. This is our focus for Prosus Ventures: create the future by investing in technology
innovators and supporting them through technology, best practices and commercial
connectivity with our businesses.

Prosus is also sharing our vision of the future and contributing to the discussion with the
global tech community, as you can see in our “The AI and Ecommerce Revolution”,
“Big Tech Leaders in Europe” and “Shaping an AI-enabled Future” reports.

Giving more transparency is also one of our objectives. I hope you have seen this through
our AI Case Studies, our Deep Dive Series on Food Delivery, Classifieds and India,
and soon, our Capital Markets Day in London on June 25th. I hope to see you there!

We are working hard to build the #1 Lifestyle Ecommerce Ecosystems in Latin America,
India and Europe. Looking ahead, now 10 months in the role, I am more confident than
ever, and certain that Prosus is a differentiated European company offering our partners
an exceptional opportunity to diversify their portfolios and find growth, profit and
innovation outside of the US.

And, we are just getting started!

Thank you for your continued support of Prosus and Naspers, your feedback, and your
partnership. I look forward to seeing you soon.

Um abraço,
Fabricio Bloisi