Deutsche Post DHL

Commerzbank - German Investment Seminar

Larry Rosen, CFO New York, 9-11 January, 2012

Highlights

Operational performance on track

Clear strategic ambitions and targets

Leverage our growth potential

• EBIT growth of 40% in 9M 2011

• Strategy 2015:

• Organic growth driven by a focused business portfolio

• 2011 guidance increased with Q3 figures • Major restructuring is completed • Taking full benefit of globalization and outsourcing trends

– Provider of choice – Employer of choice – Investment of choice • MAIL: stabilization of EBIT at ~EUR 1bn, key driver parcel growth

• Leading market position in key growth regions • Solid liquidity and balance sheet position

• DHL: 13–15% EBIT CAGR in 2010–15, key driver fast growing regions

Commerzbank German Investment Seminar | New York | 9-11 January, 2012

Deutsche Post DHL | Page

2

Agenda

Performance on track, clear strategic ambition and targets

Mail: strategic levers for EBIT stabilization in place

DHL: strong positioning in structural growth markets

Commerzbank German Investment Seminar | New York | 9-11 January, 2012

Deutsche Post DHL | Page

3

Deutsche Post DHL at a Glance

2010 key figures

Group: Sales: EUR 51,481mn; EBIT1): EUR 2,205mn; Employees2): 421,274

Domestic German Mail and Parcel

International and Domestic Express

Global Air, Ocean and Road Freight

Global Supply Chain Solutions

Sales: EUR 13,821mn

Sales: EUR 11,111mn

Sales: EUR 14,341mn

Sales: EUR 13,301mn

EBIT1): EUR 1,152mn

EBIT1):

EBIT1):

EBIT1):

Empl.2):

Empl.2):

146,365

The postal service for Germany

EUR 785mn 88,384

Empl.2):

EUR 390mn 41,729

EUR 274mn

Empl.2):

131,032

The logistics company for the world

Corporate Center / Other: Sales: EUR 1,302mn; EBIT1): EUR -395mn; Employees2): 13,764

1) Underlying EBIT; 2) Average FTEs FY 2010

Commerzbank German Investment Seminar | New York | 9-11 January, 2012

Deutsche Post DHL | Page

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Clear Strategic Ambition

Provider of Choice

Investment of Choice Building a track record of solid and improving performance • 2010 results above increased guidance • Guidance for FY 2011 increased after Q3 figures

Commerzbank German Investment Seminar | New York | 9-11 January, 2012

Improvement in customer satisfaction • Stable or increased overall satisfaction in 3/4 of recent surveys Divisional business development programs set up

Employer of Choice Excellent trend in engagement (Employee Opinion Survey 2010) • 79% participation rate (+3% yoy) • Significant improvement in satisfaction for all KPIs (range of +2% to +8%) yoy

Deutsche Post DHL | Page

5

Group P&L 9M 2011 Ongoing growth momentum in Q3 drives strong 9M figures

EUR mn

9M 2010

9M 2011

Chg.

Revenue

37,610

38,806

3.2%

1,310

1,837

40.2%

896 716

861 1,271

-3.9% 77.5%

964

-411

NA

EBIT1) t/o Mail t/o DHL

Financial result

• Reported revenue growth affected by adverse fx-effects and divestments. Organic growth of +6.0% • EBIT continues to improve strongly driven by continuous growth in our DHL divisions while Mail EBIT is stabilizing • 9M 2011 Financial result was impacted by Postbank effects of EUR -107mn compared to EUR +1,334mn last year • Tax rate in line with 25% guidance

-162

-356

>100%

Consolidated net profit2)

2,054

988

-51.9%

EPS (in EUR)

1.70

0.82

-51.8%

Taxes

• Consolidated net profit up by 52% excluding Postbank effects

1) 2010 EBIT included non-recurring items of EUR -302mn, t/o Mail EUR -4mn and DHL EUR -298mn; 2) Attributable to Deutsche Post AG shareholders

Commerzbank German Investment Seminar | New York | 9-11 January, 2012

Deutsche Post DHL | Page

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Full-year 2011 Guidance EBIT guidance: Group EBIT above EUR 2.4bn 2011 Group

Above EUR 2.4bn prev. EUR 2.2–2.4 bn

~ EUR 1.1bn

Mail

prev. EUR 1.0–1.1 bn

• Net profit excl. Postbank transaction effects to improve in line with operational performance • Capex not more than EUR 1.6bn • Tax rate of 25%

DHL divisions

Above EUR 1.7bn prev. EUR 1.6–1.7 bn

Corp. Center/ Other

• Restructuring will have a considerably lower influence on operating cash flow than last year (in 2011 c. EUR 200mn cash outflow)

~ EUR -0.4bn unchanged

Commerzbank German Investment Seminar | New York | 9-11 January, 2012

Deutsche Post DHL | Page

7

Overview DPDHL Finance Strategy Target balance sheet structure is the leading element of our finance strategy Fundamental finance objectives

• Reliability

Balance sheet structure

Target / maintain BBB+ rating

Dividend policy

• 40–60% of net profit (cash flow / continuity considered) • 2010 dividend up 8.3% to EUR 0.651) (pay-out of 59%)

Priority for use of excess liquidity

1. Invest in business 2. Fund pensions 3. Increase rating to A4. Special dividend, share buyback

Financial debt portfolio

• Syndicated bank facilities • Bonds

• Predictability • Strategic flexibility • Low cost of capital • Clear steering metric

1) Proposal to AGM

Commerzbank German Investment Seminar | New York | 9-11 January, 2012

Deutsche Post DHL | Page

8

Agenda

Performance on track, clear strategic ambition and targets

Mail: strategic levers for EBIT stabilization in place

DHL: strong positioning in structural growth markets

Commerzbank German Investment Seminar | New York | 9-11 January, 2012

Deutsche Post DHL | Page

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MAIL: Key Figures

€ mn Revenue EBIT1)

9M 2010

Mail communication volumes

9M 2011

Chg.

10,145 10,223

0.8%

896

861

mn units 8,380

-1.6% 8,112

• Solid growth in Parcel continues, supported by gradual capacity enhancements • Stable volume development in Mail Communication so far in 2011 • Union agreement on further labor flexibility

7,955

7,826

+0.8% 5,750

-3.9%

Highlights

8,185

CAGR: -1.7%

2006

2007

2008

2009

2010

9M 2011

Parcel volumes mn units 749

+4.2% 753

773

761

793

+9.4% 605

• Legislator sets new price-cap at CPI – 0.6% CAGR: +1.4%

2006

2007

2008

2009

2010

9M 2011

1) Reported EBIT: including non-recurring items of € -4mn in 9M 2010

Commerzbank German Investment Seminar | New York | 9-11 January, 2012

Deutsche Post DHL | Page 10

Mail Target: EBIT Stabilization at EUR 1bn EBIT stabilization elements being realized Long-term union agreement

New price-cap formula

• Comprehensive package for improved productivity and employee satisfaction

Parcel concept 2012

• More headroom for future price increases

Wage negotiations • Investment in service quality and capacity increase to enable future parcel growth

Commerzbank German Investment Seminar | New York | 9-11 January, 2012

• Negotiations started • Agreement expected in Q1 2012

Deutsche Post DHL | Page 11

Mail: Long-term Union Agreement Comprehensive package, agreed until 2015

New flexible model for age-based working solutions • Option to pay proportion of current salary into worktime account • Partial-retirement program supplemented by working-time accounts and a demographic fund Extension of no compulsory redundancy until 2015 Continued outsourcing • 990 parcel-delivery districts handled by sub-contractors • Outsourcing of transportation extended by 1,000 drivers Agreed salary/working condition changes • 4% lower entry wage for new Mail employees • New vacation policies based on company service, not age • Renewal of non-chargeable overtime, work days and short breaks agreements

Commerzbank German Investment Seminar | New York | 9-11 January, 2012

Deutsche Post DHL | Page 12

Mail: New Price Cap Set at CPI-0.6% New price cap regime offering more headroom

• Postal price cap decision of Federal Network Agency1) – New formula: x-factor reduced from 1.8 to 0.6% – Reference period for relevant CPI2) brought forward by six months – Regulation valid until 31 Dec. 2013

• Conclusions for Deutsche Post – No price increase for 2012 – Buffer of +1.2% carried over to 2013 (1.8% inflation rate minus 0.6% x-factor)

Directly impacted Mail revenues of EUR 3.5bn

1) Federal Network Agency = Bundesnetzagentur; 2) CPI = German Consumer Price Index

Commerzbank German Investment Seminar | New York | 9-11 January, 2012

Deutsche Post DHL | Page 13

Mail: Growth in German Parcel Market 5% market growth until 20201) driven by changing consumer behavior towards e-commerce Online share of total retail spend (by segment, in %) Established segments

New segments

92 35 20 11 8 Media (books/ CD/DVD)

Fashion and shoes

Consumer electronics

Total

Driver: Convenience/Cost

4

4

60,000

> 30,000

> 10,000

> 20,000

Market position

No. 1

No. 1

No. 1

No. 1

> 500,000

> 86,000

> 300

Customers

1) 3rd party revenue Asia/Pacific; sum of DHL divisions or respective division

Commerzbank German Investment Seminar | New York | 9-11 January, 2012

Deutsche Post DHL | Page 19

DHL: Economic Outlook and Implications Well prepared for volatile environment Global GDP % growth (real)

Levers for cost flexibility

IHS Global Insight EIU IMF

+4 • Increased proportion of cost structure made variable (e.g. temporary labor in international operations)

+2 0 -2

• Optimized mix of owned aircraft, short-term leases and long-term leases Forecast

-4 ‘07 ’08 ‘09 ’10 ’11F ’12F ’13F ’14F ’15F

Commerzbank German Investment Seminar | New York | 9-11 January, 2012

• Discretionary spend (e.g. advertising) • Long-term contracts in Supply Chain, often with agreed minimum volumes

Deutsche Post DHL | Page 20

DHL Express: Key Figures

Time Definite International (TDI) – key trends

EUR mn

9M 2010

9M 2011

Chg.

Revenue

8,207

8,644

5.3%

EBIT1)

273

679 >100%

Revenues per day2) in EUR mn

Shipments per day ‘000s

+12.3%

+9.8%

26.8

30.1

481

528

9M 10

9M 11

9M 10

9M 11

Highlights • Shipment growth even accelerating in Q3 • Volume growth again clearly ahead of competition • Further yoy margin improvement as operating leverage and overall cost discipline offset ongoing investments into network, advertising and training • “Speed of Yellow” global advertising campaign

Margin increased, second-best in the industry Underlying EBIT margin

+40 bp 8.2% 7.8% 8.3% 7.5% 5.9% 6.9% 7.1%

Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11

1) Reported EBIT: including non-recurring items of EUR -267mn in 9M 2010; 2) Currency translation impacts are eliminated. Hence, 2010 and 2011 data are aggregated with the same currency rate

Commerzbank German Investment Seminar | New York | 9-11 January, 2012

Deutsche Post DHL | Page 21

DHL Express: Focus on our Core Competence TDI

2008

2010

DHL Express‘ focus on TDI has moved the needle • Major domestic withdrawals contributing to that proportion

Revenue 61%

75%

• Domestic activity shifted from mature EU markets to growth markets in Asia / Pacific and Latin America Domestic Strategy:

19%

Shipments

34%

• Maintain successful, profitable businesses, e.g. India Blue Dart, Mexico • Continuous monitoring of lower performing businesses

Domestic = TDD + DDD

International = TDI + DDI

Commerzbank German Investment Seminar | New York | 9-11 January, 2012

Deutsche Post DHL | Page 22

DHL Express: Asia Market Position Dynamic growth continues: Double digit volume growth on all major Asia-related trade lanes DHL TDI global shipment flow, by origin/destination

DHL TDI regional trade lanes, Q3 2011, yoy volume growth

Inbound Asia

Others

IntraAsia

~50% of global DHL TDI shipments touch Asia

Europe ↔ Asia Intra-Asia > 10% > 10%

US ↔ Asia > 10%

Outbound Asia

Commerzbank German Investment Seminar | New York | 9-11 January, 2012

Deutsche Post DHL | Page 23

DHL Express: Global Market Positions in TDI External Research Underlining TDI Leadership across all regions outside the Americas Americas [3,914mEUR] DHL 13%

Europe [5,288m EUR] Others 12%

Others 4% FedEx 11%

FedEx 51%

UPS 32%

TNT 16%

EEMEA [360m EUR]

UPS 23%

Asia Pacific [4,316m EUR]

Others 18%

Others 27% DHL 47%

TNT 17%

UPS 12%

DHL 38%

FedEx 6%

DHL Express‘ Global Market Share TDI of 30%

DHL 36%

TNT 6% UPS 10%

FedEx 21%

Source: Market Intelligence 2011 (FY 2010 data, MRSC); Scope: BE, CH, DE, ES, FR, IT, NL, PL, SE, UK, IE; AE, RU, TR, ZA; AU, CN, HK, IN, JP, KR, SG, TW; US, CA, MX, BR

Commerzbank German Investment Seminar | New York | 9-11 January, 2012

Deutsche Post DHL | Page 24

DHL Global Forwarding, Freight: Key Figures

Key volume trends

9M 2011

Chg.

Air freight ‘000s Tons Export

Revenue 10,443 11,108

6.4%

+1.2%

EUR mn

EBIT1)

9M 2010

252

303 20.2%

Ocean freight ‘000s TEU2)

-0.2%

1,802

1,823

2,047

2,042

9M 10

9M 11

9M 10

9M 11

Highlights • Positive revenue and profit development despite unfavorable currency effects and volatile market environment in Q3 • As expected slightly weaker volumes due to increased general market softening and strong volumes in Q3 2010 • Trend towards higher margin levels driven by favorable buying conditions, profitable growth approach and efficient operations • Focus on sector strategy and value-added services

Gross profit increased Air freight GP/Tons Export

Ocean freight GP/TEU2)

+6.9%

+16.0%

414

443

205

238

9M 10

9M 11

9M 10

9M 11

1) Reported EBIT: including non-recurring items of € -6mn in 9M 2010

Commerzbank German Investment Seminar | New York | 9-11 January, 2012

Deutsche Post DHL | Page 25

DHL Forwarding, Freight Reflects Global Flows of International Trade A global business with strong contributions from emerging markets Airfreight, weight by origin

Seafreight, FCL volume by origin

North Asia-Pac

Europe Europe

North Asia-Pac

North America

South Asia -Pac & Africa North America MENAT

LATAM

Commerzbank German Investment Seminar | New York | 9-11 January, 2012

South Asia -Pac & Africa

Other LATAM MENAT

Deutsche Post DHL | Page 26

DHL Global Forwarding, Freight : Network Expansion in China from 2006–2011

Presence in 2006 …

… and today in 2011

Shenyang

Urumqi Beijing

Dalian

Tianjin Qingdao

China North (17)

Xian

China North (32)

Suzhou Wuxi Shanghai Wuhan

Nanjing Hangzhou

Chengdu

Ningbo Xiamen

Kunming Guangzhou Dongguan Shenzhen Zhongshan

Branch

22

Office

0

Hongkong

China South (5)

Note: ( ) = no. of Branches = Branch Location = Sales Office Location

Commerzbank German Investment Seminar | New York | 9-11 January, 2012

Branch

39

Office

26

China South (7)

Note: ( ) = no. of Branches = Branch Location = Sales Office Location

Deutsche Post DHL | Page 27

DHL Global Forwarding, Freight: Service Extension Towards a Comprehensive Portfolio Connecting China and Beyond • DGF is the leading provider in China Domestic airfreight and road freight • Innovative solutions e.g. cross border road freight, multimodal, rail, connect China to fast growing neighbors, e.g. ASEAN, CIS What DGF offered in 2006 … International Airfreight

International Ocean freight

Industrial Project

Customer Program Management

Customs Brokerage

Our current service offering in China 2011 … International Airfreight

Domestic Airfreight

Logistics Management Services

International Ocean freight

Domestic Road freight

Value added service

Industrial Project & Chartering

MultimodalRail Segments

Customs Brokerage

MultimodalAir Segments (SeAir, Rail-Air)

Chinese Desks At Overseas

Carbon Report & Offsetting Offering

Control Tower Management/ LLP

MultimodalLand Bridge & Mini Land Bridge

Trade Facilitation (IOR/EOR)

Ocean Secure with GPSenabled devices

International Supply Chain

MultimodalCross-border Segments

Shippers Insurance

Trade/Fair/ Exhibition Logistics

Commerzbank German Investment Seminar | New York | 9-11 January, 2012

Deutsche Post DHL | Page 28

DHL Supply Chain: Key Figures Steady margin improvement

EUR mn Revenue EBIT

1)

9M 2010 9,559 185

Revenue by sector 9M 2011

9M 2011

Chg.

9,675 289

1.2% 56.2%

Energy

Others2)

2% 7%

Williams Lea

Retail 26%

9%

Highlights • Continuous growth momentum driven by existing contracts and new business wins • Asia Pacific again posting the highest growth, now representing ~10% of total revenue • New business of around EUR 280mn in annualized revenue signed in Q3 2011 (Q3 2010: EUR 200mn). Majority of new signings in Retail, Consumer, Life Sciences & Healthcare and Automotive

Automotive 7%

Technology

12% 20% Consumer

17%

Life Sciences & Healthcare

1) Reported EBIT: including non-recurring items of EUR -25mn in 9M 2010 and disposal gain on ETS in 9M 2011; 2) incl.Airline Business Solutions

Commerzbank German Investment Seminar | New York | 9-11 January, 2012

Deutsche Post DHL | Page 29

Outsourcing: Simplify Our Customers Supply Chain End-to-End Supply Chain capability: more than pure warehousing Raw Materials

Inbound Production Transport Flows

Outbound Transport

Warehousing

Distribution

Returns

DHL Supply Chain Services

~ 2/3 of SC sales Plan – Laying the foundation for a supply chain

Source – Getting the materials at the time required

Make – Supporting product manufacturing

Store & Customize – Getting it ready to sell

Deliver – Getting it where it needs to be

Commerzbank German Investment Seminar | New York | 9-11 January, 2012

Return – Bringing it back when it’s not needed

Deutsche Post DHL | Page 30

DHL Supply Chain: Global Sector Focus By focusing on our six global sectors we are getting closer to our customers, offering sector-specific supply chain solutions Global Sector Focus Energy

Our Approach Automotive

• Sector approach implemented and enhanced since several years now; considered as key to success • Dedicated Global Sector teams established to strengthen our approach for six key industries

Retail

Consumer

Technology

Life Sciences & Healthcare

Commerzbank German Investment Seminar | New York | 9-11 January, 2012

• Development of sector-specific, innovative solutions, ensuring sustainable competitive advantage for our customers and DHL • Focus on best practice & knowledge exchange – across regions, DHL Divisions, and with our customers

Deutsche Post DHL | Page 31

DHL Supply Chain: Asia Pacific Deep Dive DHL Supply Chain is the contract logistics market leader in Asia Pacific and keeps on growing fast Key Facts

Asia Pacific Strategy

• Market leader in Asia Pacific

• Following Supply Chain’s global strategy, the strategic focus in Asia Pacific depends on local market maturity and dynamics:

• Strongest growing region, currently generating ~10% DHL Supply Chain’s global revenue • > 26,000 employees • 700 facilities with total surface of 4 million m2 • 14 countries

– High growth countries (China, India): Enhance growth organically and through targeted, small acquisitions – Immature markets: Consolidation of customer supply chains through integrated end-to-end solutions – Mature markets: Innovative, transformational deals, offering Value Added Services and leveraging strategic products replication program • Strong focus on talent management

Regional Regional HQ HQ Singapore Singapore

Commerzbank German Investment Seminar | New York | 9-11 January, 2012

• Drive footprint growth with build/lease-back agreements

Deutsche Post DHL | Page 32

DHL Supply Chain: Strategic products successful in Asia Pacific Our strategic products continue to deliver results and offer innovative solutions beyond conventional warehousing & distribution Co-Packing

Lead Logistics Provider

Airline Solutions

Airline solutions are optimized „Above the Wing“ operations. Services are based upon globally defined standards and the support of a dedicated team Core Services: • Assembly and delivery of catering trays and other “Above the Wing“ products such as „In-Flight-Retail & Entertainment“ • Inventory management, cleaning of equipment and waste management Benefit: • Improved service level along with significant reduction of weight, waste, unused products and hence cost through an optimized endto-end solution

E-Fulfillment

Technical Services

Commerzbank German Investment Seminar | New York | 9-11 January, 2012

Based on the success with our Airline Solution business with British Airways at London Heathrow, we furthered our “Abovethe-Wing” product offering through the new Qantas contract in Australia

Deutsche Post DHL | Page 33

SUMMARY Focus on organic profitable growth in structurally growing markets • Logistics industry driven by growth in global trade • DHL is market leader in Asia and other growth regions • Mail business benefits from strong growth in parcel and digital services • Further margin potential due to operating leverage and efficiency improvements • 2011 guidance increased in November: confident to sustain and continue our performance improvement in the short- and medium-term Commerzbank German Investment Seminar | New York | 9-11 January, 2012

Deutsche Post DHL | Page 34

Agenda

Performance on track, clear strategic ambition and targets

Mail: strategic levers for EBIT stabilization in place

DHL: strong positioning in structural growth markets

Appendix

Commerzbank German Investment Seminar | New York | 9-11 January, 2012

Deutsche Post DHL | Page 35

Group P&L Q3 2011 Performance improvement accelerating in Q3

EUR mn

Q3 2010

Q3 2011

Chg.

Revenue

12,799

13,125

2.5%

545

646

18.5%

t/o Mail

257

302

17.5%

t/o DHL

382

440

15.2%

-222

-92

58.6%

-74

-138

86.5%

EBIT1)

Financial result Taxes Consolidated net profit2)

226

385

70.4%

EPS (in EUR)

0.19

0.32

68.4%

• Revenue kept growing in Q3 despite ongoing adverse effects from FX and divestments. Organic growth was +5.7% • DHL again posts double-digit EBIT growth and margin improvement in all three divisions • Mail also contributed to EBIT growth – VAT regulation no longer impacts yoy comparison • Q3 2011 Financial result was impacted by Postbank effects of EUR +26mn compared to EUR -92mn last year • Consolidated net profit and EPS increase reflect underlying EBIT improvement and lower financial costs

1) 2010 EBIT included non-recurring items of EUR +2mn, t/o Mail EUR 0mn and DHL EUR +2mn; 2) Attributable to Deutsche Post AG shareholders

Commerzbank German Investment Seminar | New York | 9-11 January, 2012

Deutsche Post DHL | Page 36

Free Cash Flow Q3 2011 Strong Operating Cash Flow drives Free Cash Flow improvement

EUR mn Cash from operating activities before changes in Working Capital Changes in Working Capital Net cash from operating activities after changes in Working Capital

Q3 20101)

Q3 20111)

616

635

16

191

632

826

-250

-288

Net M&A

-23

-42

Net Interest paid

-32

-16

Free Cash Flow

327

480

Net Capex

• Strong increase in Operating Cash Flow reflects EBIT growth and tightened working capital management • Free Cash Flow improved despite somewhat higher outlays for capex and M&A • FFO/Debt improved to 31.9% in line with usual seasonal pattern of liquidity build-up in H2

1) Included restructuring cash out of EUR -42mn in Q3 2011 and EUR -76mn in Q3 2010

Commerzbank German Investment Seminar | New York | 9-11 January, 2012

Deutsche Post DHL | Page 37

Net Debt (-)/Liquidity (+) Net financial liquidity reduced compared to year-end 2010 due to annual payment to civil servants pension fund and dividend EUR mn +1,3821)

Net financial liquidity improved by EUR 390mn vs. last quarter-end

-542

-786 +538

+5921) +202

Dec 31, 2010

Civil Servant Pensions

Dividend

All other liquidity effects

Sep 30, 2011

June 30, 2011

1) Adjusted for mandatory exchangeable bond and cash collateral on put options as well as the effects of the net valuation of the financial derivatives related to the Postbank transaction

Commerzbank German Investment Seminar | New York | 9-11 January, 2012

Deutsche Post DHL | Page 38

Mail: Divisional Results Q3 2011 EBIT stabilization materializing

EUR mn

Q3 2010

Q3 2011

Chg.

• Solid revenue driven by parcel growth and good volume development in Mail Communication • EBIT performance reflects

Revenue EBIT

3,288

3,373

2.6%

257

302

17.5%

– Strong German parcel business – Good volumes in Mail communication – Ongoing cost control

Operating Cash Flow

287

407

41.8%

Capex

101

90

-10.9%

– Normalization of e-investments • Operating cash flow improves strongly, reflecting EBIT growth and working capital management • Capex remains below last year only due to phasing

Commerzbank German Investment Seminar | New York | 9-11 January, 2012

Deutsche Post DHL | Page 39

Parcel Germany: Quarterly Development Dynamic growth of Parcel Germany Revenues, in EUR mn

Volumes, in mn units yoy +10%

yoy +11%

239

888 696

Q1

749 665

678

Q2 Q3 2010

Q4

Q1

710

Q2 2011

748

Q3

Commerzbank German Investment Seminar | New York | 9-11 January, 2012

206 188

Q1

181

184

Q2 Q3 2010

Q4

Q1

194

Q2 2011

205

Q3

Deutsche Post DHL | Page 40

MAIL: Growing in Parcel & Digital Services

Digital strategy

Take our core business model into the digital world

Mail Communication

Secure communication • E-Postbrief

Dialogue Marketing

Efficient and targeted online advertising • nugg.ad • Adcloud • Werbemanager

Press Services E-Commerce

Traditional parcel business

Pioneer a marketplace for quality journalistic content • DieRedaktion.de Facilitating online shopping and parcel shipment • DHL eParcel • MeinPaket.de

Successful integration into MAIL business in 2007 •

New parcel network (faster, more efficient, more capacity, more flexible pick-up times)

Commerzbank German Investment Seminar | New York | 9-11 January, 2012

Deutsche Post DHL | Page 41

MAIL: Securing Sustainable Profitability EUR 1bn EBIT secures Mail as a self-financing unit within the group Why EUR 1bn?

Beyond 2011 EBIT stabilize at ~ EUR 1bn level

Cash generation

Funding requirements

D&A ~ EUR 0.2 bn

Share of: Corp. costs, tax, dividend, etc

EBIT ~ EUR 1bn

Pensions in excess of EBIT expenses

Investments

Commerzbank German Investment Seminar | New York | 9-11 January, 2012

Deutsche Post DHL | Page 42

Express: Divisional Results Q3 2011 Ongoing strong volume growth drives further EBIT improvement

EUR mn

Q3 2010

Q3 2011

Chg.

Revenue

2,719

2,929

7.7%

EBIT

1991)

219

10.1%

Operating Cash Flow Capex

317

370

16.7%

48

135

>100%

• Revenues increased due to ongoing strong international volume growth. Organic growth was 12.7% • Strong intra-Asia platform also supporting growth on Asia-bound lanes out of Europe and the US • EBIT growth reflects revenue increase and strengthening margin despite ongoing investment in advertising and training • Overproportionate increase in Operating Cash Flow driven by tightened working capital management • Higher Capex dedicated to investments into aviation network and our new Shanghai hub

1) 2010 EBIT included non-recurring items of EUR +5mn

Commerzbank German Investment Seminar | New York | 9-11 January, 2012

Deutsche Post DHL | Page 43

DHL Express: TDI1) Market Position Global leading position with particular strength in Asia TDI market share in Asia/Pacific2)

Pioneer/Early-mover in Asia Examples

Japan • Operating in Express since 1972

Others 27%

DHL 36%

Singapore • Operating in Express since 1972 Malaysia • Operating in Express since 1973

TNT 6% UPS 10%

India • Market entry in 1979

FedEx 21%

• Blue Dart acquisition in 2005 China • Joint venture with Sinotrans since 1986

1) TDI = Time Definite International; 2) Source: Market Intelligence 2011 (FY 2010 data, MRSC); Scope: AU, CN, HK, IN, JP, KR, SG, TW

Commerzbank German Investment Seminar | New York | 9-11 January, 2012

Deutsche Post DHL | Page 44

Global Forwarding, Freight – Divisional Results Q3 2011 Continued profitable growth and high cash flow

EUR mn

Q3 2010

Q3 2011

Chg.

Revenue

3,715

3,787

1.9%

EBIT

1001)

122

22.0%

Operating Cash Flow

98

133

35.7%

Capex

31

38

22.6%

• Revenues increased slightly despite adverse fx-effects, volatile market environment and lower freight rates, especially in Ocean Freight. Organic growth was 3.4% • Good improvement in Road Freight operating performance • Strong Gross Profit performance due to better buying conditions and profitable growth approach – Air freight: GP/export ton +8% yoy – Ocean freight: GP/TEU +13% yoy • Improved Gross Profit and cost discipline drive EBIT increase; EBIT margin significantly increasing from 2.7% last year to 3.2% • Substantial growth in operating cash flow primarily due to focused net working capital management • Continued investment to improve IT solutions for global applications

1) 2010 EBIT included non-recurring items of EUR -2mn

Commerzbank German Investment Seminar | New York | 9-11 January, 2012

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Supply Chain – Divisional Results Q3 2011 Executing a steady improvement in operating performance

EUR mn

Q3 2010

Q3 2011

Chg.

Revenue

3,326

3,323

-0.1%

831)

99

19.3%

147

86

-41.5%

52

58

11.5%

EBIT Operating Cash Flow Capex

Contracts won – Annualized revenue Supply Chain New gains

200

• Revenue flat on reported basis due to adverse fx-effects and disposal of ETS. Organic revenue was up by 6.2% • Strong EBIT growth driven by good underlying business activity and continuous improvement measures • Operating Cash Flow lower due to receivables increase from ongoing growth in existing and new contracts as well as timing effects • Capex increase supports further business growth

280

1) 2010 EBIT included non-recurring items of EUR -1mn

Commerzbank German Investment Seminar | New York | 9-11 January, 2012

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Dividend for FY 2010 increased to € 0.65

Dividend development since IPO • Dividend increase of 8.3% to € 0.65 approved by the AGM on May 25th

0,90 0,75 0,70 0,60

0,60

0,65

• Adjusted for Postbank effects and non-recurring items this reflects a payout ratio of 59% and is within our target payout ratio of 40 – 60%

0,50 0,37

0,40

0,44

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

Commerzbank German Investment Seminar | New York | 9-11 January, 2012

Deutsche Post DHL | Page 47

P+L Impact of Postbank Transaction in 2009/10 2010 financial result excluding Postbank related effects was EUR -580mn 2009

EUR mn Net income from associates Net other finance costs/ net other financial income t/o Postbank-related t/o not Postbank related Total net finance costs/net financial income t/o Postbank-related t/o not Postbankrelated

Q1 20 598 737

Q2 26

Q3 25

Q4 -43

-34 -355 -212 97 -188

Main impacts on the financial result

2010

-14

FY 28

Q1

Q2

34

Q4

FY

31

-33

56

17 1,294 -166 -253

58

933

632 1,414

24

Q3

-46 -123

272 1,517

-139 -131 -147 -198 -615 -120 -120 -130 -214 -584 618 757

-8 -310 -255 123 -163

-66

45 1,328 -142 -222 651 1,448

-22

-92

25

• at equity result of Postbank • Postbank transaction valuation effects • interest component for mandatory exchangeable bond and cash collateral

989

235 1,569

-139 -131 -147 -189 -606 -120 -120 -130 -210 -580

Commerzbank German Investment Seminar | New York | 9-11 January, 2012

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Changes to the P+L Impact of Postbank Transaction in 2011 Reclassification of Postbank shares as ‘Assets held for sale’ at end of February 2011 Share price < ~ EUR 22.00 • Mark to market valuation of investment • Offset by mark to market valuation of derivatives

Share price > ~ EUR 22.00 • Value of investment capped at ~ EUR 22.00 • Mark to market valuation of derivatives

Impact 2011 Interest component

Valuation

EUR -180mn p.a.

no significant impact

Commerzbank German Investment Seminar | New York | 9-11 January, 2012

EUR -180mn p.a.

~ EUR -90m per EUR 1 increase in Postbank share price and vice versa

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Impact of Postbank Transaction on the P+L Net profit excluding Postbank effects increased to EUR 359mn in Q3 2011 • Postbank effects include EUR mn Consolidated net profit (reported)1) t/o Postbank effects Net profit excluding Postbank effects

9M 2010 2,054

9M 2011 988

Q3 2010 226

Q3 2011 385

– At equity result of Postbank until Feb 28th – Reclassification of Postbank shares as ‘Assets held for sale’, i.e. no further equity consolidation – Postbank valuation effects

1,334

-107

-92

26

720

1,095

318

359

+52.1%

– Interest component for mandatory exchangeable bond and cash collateral

+12.9%

1) Attributable to Deutsche Post AG shareholders

Commerzbank German Investment Seminar | New York | 9-11 January, 2012

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Investor Relations Contacts

Martin Martin Ziegenbalg, Ziegenbalg, Head Head of of Investor Investor Relations Relations •• +49 +49 228 228 182 182 63000 63000 •• E-mail: E-mail: [email protected] [email protected] Robert Robert Schneider Schneider •• +1 212 +1 212 672 672 1729 1729 •• E-mail: E-mail: [email protected] [email protected] Sebastian Sebastian Slania Slania •• +49 228 182 +49 228 182 63203 63203 •• E-mail: E-mail: [email protected] [email protected] Florian Florian Bumberger Bumberger •• +49 228 +49 228 182 182 63208 63208 •• E-mail: [email protected] E-mail: [email protected] Daniel Daniel Stengel Stengel •• +49 +49 228 228 182 182 63202 63202 •• E-mail: [email protected] E-mail: [email protected]

Commerzbank German Investment Seminar | New York | 9-11 January, 2012

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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.

Commerzbank German Investment Seminar | New York | 9-11 January, 2012

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