1、Q2 2024 RESULTSMELANIE KREIS,GROUP CFODHL GROUP INVESTOR RELATIONSAugust 1st,20241Management comments:H1 performance delivered on expectations andwe started seeing some first signals of improvingB2Bdemand.As this supports our assumptions of at leastslightly improving market conditions in H2,wetoday

2、fully confirm our FY 2024 and mid-termguidance.22Guidance confirmed:On track to deliver on 2024 guidance with usual seasonality further supported by targeted cost and yield measuresQ2 2024 Group HighlightsQ2 developed as expected with no broad-based recovery yetResilient earnings and cash flow again

3、st prolonged cycle trough:Strong base for cyclical recovery and structural growth opportunities Q2 fully in line with internal and market expectations:Effective cost and capex control in place to navigate market troughQ2 2024 RESULTS|DHL GROUP INVESTOR RELATIONS|1 AUGUST 2024Management comments:Asex

4、pected,cyclicalB2Bbusinessesstartturning back into growth territory following aprolongedperiodof inventorydestocking.At the same time,activity levels are showingsignals of a gradual market turnaround ratherthan any dynamic acceleration.Across the mainregions,Europe continued to see the weakestmoment

5、um.Disruptions in the Ocean Freight market makevolume developments more difficult to interpret.Beyond temporary effects,the return to yoygrowth in all three B2B modes should howeveralso reflect that destocking is coming to an end.Beyond the debate how much of Ocean Freightpeak season is currently pu

6、lled forward,the factthat there is an Ocean peak season is a positivesignalon thecyclebyitself.3Q2 2024 RESULTS|DHL GROUP INVESTOR RELATIONS|1 AUGUST 20243B2B volumes developmentSigns of improvement but no widespread acceleration yet*excl.Hillebrand Air(+5%yoy)and Ocean(+6%yoy)Freight volumes in Q2