This document summarizes Neopost's investor day presentation on their strategy to expand into digital communication and shipping solutions for small and medium enterprises (SMEs). Key points include: - Transactional mail volume is declining while new digital communication channels are growing, requiring companies to communicate with customers across multiple channels. - Neopost aims to leverage its existing customer base and expertise in mail and shipping solutions to develop a complementary portfolio of digital communication and shipping applications delivered through a scalable SaaS platform. - The SME market for digital solutions is largely untapped despite over 5 million SMEs in Neopost's top countries, representing a market opportunity of €3-5 billion. Neop

1. Neopost Investor Day
SME Digital Solutions Extract
January 16, 2015

2. Overall Vision
Denis THIERY
Chairman and Chief Executive Officer
Neopost Investor Day

3. Communication is becoming more complex
Transactional mail continues to decline…
… while new forms of digital communication are growing
Our customers have to incorporate technology trends…
… in order to effectively communicate to their customers
across multiple channels
3

4. Multiple Source, New Channels and Data Richness
Multiple sources of customer data and multiplication of media
communication channels and delivery points
Increased interactivity between companies and customers
Richness of Data: Profile, Customer Type, Location
Neopost can help with this complexity
4

5. The Shipping Market is changing too
The parcel market is growing fast driven by the growth
in e-commerce
Carriers are expanding their focus from B2B to B2C
The market is shifting its focus from the carrier to the Shipper
and Consumer
Postal Organizations are investing for their networks
to leverage the growth in consumer parcels
5

6. Neopost Ambition
MAIL SOLUTIONS COMMUNICATION & SHIPPING SOLUTIONS
CSS Dedicated UnitsNEOPOST INTEGRATED OPERATIONS (NIOs)
Build a Complementary
Offer for Current
Customer Base
Invest & Speed up
Development in Non-
Mail Related Business
Continue Developing
Mail Related Business
• VAR
• OEM Software services
• SME oriented web / cloud
based SaaS services
6

7. Neopost Ambition
MAIL SOLUTIONS COMMUNICATION & SHIPPING SOLUTIONS
CSS Dedicated UnitsNEOPOST INTEGRATED OPERATIONS (NIOs)
Build a Complementary
Offer for Current
Customer Base
Invest & Speed up
Development in Non-
Mail Related Business
Continue Developing
Mail Related Business
Marketed to
enterprise accounts
Developed for NIOsSME oriented web / cloud based SaaS services
OEM Software services
VAR
7

8. Synergies, Synergies, Synergies!
Neopost Growth Areas:
What they have in common
Complementary to Neopost’s current business: synergies
Fast growing markets of good size (min $1Bn)
Neopost has the ability to take a leadership position
There is an opportunity for 15% ROCE
8

9. SME Opportunity
>5m SMEs across
Neopost’s top 4 countries
The SME market for Digital
Solutions today is largely untapped
Much of Neopost’s customer base
is companies < 100 employees
SaaS & Cloud are making digital
solutions affordable for smaller
companies
9

10. Neopost Opportunity
A p p s / S a a S / C l o u d
CSS
DUs
CSS
DUs
CSS
DUs
VAR
OEM
NIO
NIO
Large Enterprises
Medium Size
SME/VSE
Shipping Enterprise
Digital
Shipping Enterprise
Digital
Partners
S M E
Digital
Partners
10

11. Positioning Neopost for the Future
MS/CSS
Enterprise
Digital
Solutions
Shipping
Clem Garvey
Europe, APAC, Export
Alain Férard
Shipping Solutions
Henri Dura
Enterprise Digital
Solutions
Dennis LeStrange
USA, Canada
Nikolaus Scholz
New
Projects
Integrated
Operations
CSS Dedicated Units
New
Projects
11

12. Neopost Executive Committee
CFO R&D & Supply Chain CMSO CTO CHRO
CSS DUs
New ProjectsEnterprise Digital Solutions Neopost Shipping Solutions
NIOs
USA, CanadaEurope, APAC, Export
Chairman & CEO
12

13. Sales evolution
Mail Solutions
€922m
€1.0 billion
8%
€1.1 billion
17%
€909m
€186m
€1.1 billion
20%
› CSS sales increased by more than 40% per year since 2011
› EBIT margin around 22% in 2014 despite a high level of investment
2014 (e)20132011
Communication &
Shipping Solutions
€81m
13

14. Mid Term Ambition
2017 – 20192014 (e)
€1.4–1.5 billion*
>35%
Mail Solutions
€1.1 billion
20%
CSS:
› Ability to grow organically 2% to 4% from 2017-2019
*Exchange rate: €/USD 1.25 and €/GBP 0.78
Communication &
Shipping Solutions
14

15. Market Trends
Nikolaus SCHOLZ
Chief Marketing & Strategy Officer

16. Mail volumes are declining
Mail* volume in Main 4 (US, UK, France, Germany)
100
150
200
250
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
?
Historical Trend Projections
Sources:
Historical: US (USPS Quaterly Reports), Germany (Deusche Post Annual Reports), France (ARCEP Observatoire Postal), UK (Ofcom Reports)
* only addressed mail
-0.4%
-5.3%
-6.6%
-3.5%
16

17. Two Expansion Directions from our Core
Physical
Communication
Digital
CommunicationShipping
17

18. Electronic Invoices Market
Expects strong growth over the next 3 years
Electronic Invoices – Overall Market Revenue
(in $B)
(Estimates in %)
Focus on Europe
penetration rate in Europe
Global E-invoicing Market by Geographical
Segmentation 2012
European market
The regulation is a key pillar to adopting a full digital
invoicing solutions
The governments are switching quickly to the Electronic
invoicing , pushing SMBs to adopt this process as well
Ex: Denmark is the most advanced in Europe,
due to government who established E-invoices as mandatory
Other markets
USA: Need to Enhance Invoicing Process
Brazil: E-invoice adoption is pushing by regulation, however
the complexity involved, remains an hurdle
3.4
4.1
5.1
6.3
8.1
Source: Technavio market survey 2013
2016E2015E2014E20132012
CAGR
+24%
Source: Billentis 2014
Source: Technavio market survey 2013
APAC 9%
EMEA 55%
Americas 36%
201420132012201120102009
B2B/B2G/G2B
B2C
24%
14%
20%
13%
15%
11%
13%
9%
10%
7%8%
5%
18

19. SMEs are digitising rapidly
› Neopost is legitimate to accompany its customers in their transformation
from a communication 100% physical to a mix of digital and physical communication
Increasing Level of digitization
Physical Only
13% Held Back
13%
Digitising
External
Pull
26% Digitising
Internal
Push
9%
Steady State
reached
(for now)
25%
Fully
Digital
16%
Immediate opportunity for Neopost Mid-term opportunity
19

20. Conclusion on market trends
Physical
Communication
Digital
CommunicationShipping
$2-3bn* $3-4bn* $2-3bn*
Market
addressed
by Neopost
10-12% -3% 10-12%Growth rates
20
* Source: Neopost and Gartner estimates

21. SME Digital Solutions
Nikolaus SCHOLZ
Chief Marketing and Strategy Officer

22. Positioning Neopost for the Future
Enterprise
Digital
Solutions
Shipping
Alain Férard
Shipping Solutions
Henri Dura
Enterprise Digital
Solutions
CSS Dedicated Units
MS/CSS
Clem Garvey
Europe, APAC, Export
Dennis LeStrange
USA, Canada
Integrated
Operations
New
Projects
Nikolaus Scholz
New Projects
22

23. Neopost Opportunity
23
A p p s / S a a S / C l o u d
CSS
DUs
CSS
DUs
CSS
DUs
VAR
OEM
NIO
NIO
Large Enterprises
Medium Size
SME/VSE
Shipping Enterprise
Digital
Shipping Enterprise
Digital
Partners
PartnersS M E
Digital
23

24. Investing to claim a relevant share
in fast growing market
5m SMEs
>50% of SMEs
not digitized
Transactions
Document/SME
Adoption rate for
value added services
Market
Opportunity
3-5bn €
24

25. 3 key pillars of our SME SaaS solutions
Portal & Platform Applications Go-To-Market
25

26. Saas Platform – complex, powerful
and highly scalable – released H1 2014
26

27. Saas Platform
It is the common platform for
• delivering all Nepost branded SaaS
offerings
• targeting SME with respective products
& services (Apps)
Portal & Platform
The foundation for our future
business is ready in 2014
2014
• launched in H1 in the UK
• ongoing evolution (v1.2)
• Software Development Kit
(SDK) for App integration
successfully validated
Status
powerful and scalable
platform ready to be
leveraged for business and
ready for app integration
27

28. 3 key pillars of our SME SaaS solutions:
Focus 2015
Portal & Platform Applications Go-To-Market
2014
• launched in H1 in the UK
• ongoing evolution (v1.2)
• Software Development Kit
(SDK) for App integration
successfully validated
Status
powerful and scalable
platform ready to be
leveraged for business
and ready for app integration
2015
• Increase number of Apps
• Test & iterate fast
2015
• Establish the right
go to market
• Test & Iterate Fast
28

29. A variety of APPS & the right go to market
29

30. Mid Term Revenue Ambition
18 months 36 months
70k
Users
300k
Users
Paying
Customers
15%
15%
Short
Term
Mid
Term
Vision
Ambition
• 50k
customer
• 10-15m€
30

31. Investing to claim a relevant share
in fast growing market
mid 2016
t
Growth / H2
Innovation / H3
Mature / H1
Market
Stage
end 2017 2020-2025
Relevant
Market
Volume
Market
Opportunity
3-5bn €
* Market share similar to GMCs positioning in the Enterprise market
31