Prosus increases stake in Delivery Hero

Naspers Limited(Incorporated in the Republic of South Africa)(Registration number 1925/001431/06)JSE share code: NPN ISIN: ZAE000015889LSE ADS code: NPSN ISIN: US 6315122092(Naspers)

Prosus INCREASES STAKE IN DELIVERY HERO

Prosus, major subsidiary of Naspers, has entered into an agreement to acquire an additional 2.5% stake in Delivery Hero (FRA:DHER.GR), subject to regulatory approval, through its subsidiary, MIH Food Holdings B.V.

Prosus believes acquiring the additional stake is a sound financial investment that will afford it the ability to offset any potential future dilution which may occur in the normal course from, for example, convertible issuances, employee exercises and/or stock issuances. Prosus may increase its stake in Delivery Hero if future opportunities arise to obtain further shares at attractive terms, but Prosus has no intention of exceeding an aggregate shareholding of 29.99%.

MIH Food Holdings B.V. currently holds 24.97% of Delivery Hero, which will increase to 27.47% post receipt of regulatory approval and closing of the transaction, expected by the end of September 2021. Prosus will remain the largest shareholder in Delivery Hero. 

Growing its position in online food delivery is consistent with Prosus's strategy to invest in platforms with global potential that offer online marketplace services in high-growth markets. Delivery Hero, along with Swiggy, iFood, Wolt, Oda and Flink comprise the Food Delivery portfolio, which has a presence across 69 markets across the world.

The transaction will be funded from existing resources.

Cape Town

31 August 2021

Sponsor: Investec Bank Limited

About Delivery Hero

Delivery Hero is the world's leading local delivery platform, operating its service in around 50 countries across Asia, Europe, Latin America, the Middle East and North Africa. The company started as a food delivery service in 2011 and today runs its own delivery platform on four continents. Additionally, Delivery Hero is pioneering quick commerce, the next generation of e-commerce, aiming to bring groceries and household goods to customers in under one hour and often in 10 to 15 minutes. Headquartered in Berlin, Germany, Delivery Hero is listed on the Frankfurt stock exchange since 2017, and became part of the leading index DAX (Deutscher Aktienindex) in 2020. For more information, please visit www.deliveryhero.com

About Naspers

Established in 1915, Naspers has transformed itself to become a global consumer internet company and one of the largest technology investors in the world. Through Prosus, the group operates and invests globally in markets with long-term growth potential, building leading consumer internet companies that empower people and enrich communities. Prosus has a listing on Euronext Amsterdam and a secondary listing on the Johannesburg Stock Exchange and Naspers is the majority owner of Prosus.

In South Africa, Naspers is one of the foremost investors in the technology sector and is committed to building its internet and ecommerce companies in the country. These include Takealot, Mr D Food, Superbalist, OLX, Autotrader, Property24 and PayU, in addition to Media24, South Africa's leading print and digital media business.

Naspers is also focused on stimulating South Africa's local tech sector through Naspers Foundry. This is a R1.4 billion investment targeting early stage technology companies in South Africa that seek to address big societal needs. To help address youth unemployment in impoverished communities, in 2019, Naspers launched Naspers Labs, a social impact programme for young, unemployed South Africans aged between 17 and 25. Located in low income, urban settings, Naspers Labs provide a structured development journey enabling young people to enter the economy.

Naspers has a primary listing on the Johannesburg Stock Exchange (NPN.SJ) and a secondary listing on the A2X Exchange (NPN.AJ) in South Africa, and has an ADR listing on the London Stock Exchange (LSE: NPSN).

For more information, please visit www.naspers.com.

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