Kogan com : 2021 AGM Chairman's & CEO's Addresses

2021 ANNUAL GENERAL MEETING

only25 November 2021

Chairman's address

SLIDE 6: Chairman's address

Before I pass you onto our Founder, CEO and Executive Director - Ruslan Kogan for a detailed review of the year that was, and the strategic direction of your business into the new fnancial year and thereafter, I will take the opportunity to recap some highlights of

usethe 2021 fnancial year.

We are all well versed in the continuing pandemic and the uncertain nature of the State lockdowns throughout the year. We empathise with businesses, big and small, that have had to navigate these diffcult times and, indeed, with individuals and families who have seen their lives infuenced and changed in so many ways.

personalThroughout the year, we stayed true to the Company's mission and values in spite of these continued obstacles - pioneering new ways to delight over three million Active Customers

by making the most in-demand products and services more affordable and accessible. We do this by making data-driven decisions and pioneering technology-based solutions to beneft our loyal community. This ensures that we are able to deliver on long-term strategies, which in turn continues to beneft customers and Shareholders alike. Our ability to be agile and promptly respond to the changing conditions throughout the year, is a testament to the strength and capabilities of our team.

During the year our Exclusive Brands portfolio continued to achieve year-on-year Revenue growth, contributing 51.6% of the Group's overall Gross Proft in FY21.

Kogan Marketplace continued its rapid growth, nearly doubling its Gross Sales to over $300 million. There continues to be a strong pipeline of sellers ready to be onboarded in addition to the increased number of sellers already using the platform throughout FY21, enabling

Formore choice for customers.

We are delighted to see our customers respond positively to our member program, Kogan First. Over the last 12 months our customers have enjoyed millions of dollars of benefts in the form of incentives and rewards - Ruslan will speak to this later in the presentation. We see enormous potential in this loyalty program as it is an opportunity for us to build a stronger value proposition for our most loyal customers.

Mighty Ape joined Kogan.com in December 2020 and is progressing well. Mighty Ape shares a similar story to Kogan.com, being a founder-ledpure-play online retailer

onlyprominent in the New Zealand market. The business has signifcant potential for growth and we are excited to be part of that journey and we welcome everyone from Mighty Ape to the Kogan.com team.

The second half of the year presented a challenging inventory position coming out of the tail winds of the frst half, however, what originally presented as a challenge was met with an astute response from our team. This was a pivotal point for our business as the global supply chain is still seeing the effects of product shortages and escalation of costs. Our

usebusiness is in an optimal position readily able to supply products directly to our customers, in time for the holiday season.

In line with our growth, we further strengthened our Board this year welcoming two additional Independent, Non-Executive Directors - James Spenceley and Janine Allis. James and Janine each have formidable entrepreneurial business credentials and are well

versed in ASX requirements. They have been wonderful additions to our Board providing personalvaluable insight and a greater diversity of thought and experience.

You may also have seen that we have increased our reporting and transparency in regard to Modern Slavery and ESG, and we welcome all Shareholders to view our reports at our Corporate website.

SLIDE 7: FY21 Kogan Group Results

Turning to group results, the business surpassed $1 billion in Gross Sales for the frst time ever and delivered exceptional growth across key metrics, with:

• Gross Sales of nearly $1.2 billion, up 52.7% on FY20
• Gross Proft of $203.7 million, up 61% on FY20
• Adjusted EBITDA of $61.8 million, up 24.5% on FY20
• Adjusted NPAT of $42.9 million, up 43.2% on FY20.

In terms of Total Shareholder Return - the ultimate measure of the value we are providing to you, our Shareholders, the Company has achieved exceptional outperformance since the

ForCompany's IPO in July 2016. From IPO to 31 October 2021, over fve years and three months, our business has delivered a Total Shareholder Return of 517%, compared to the ASX200 return of 74%. Total Shareholder Return over the long-term is the ultimate measure of your Board and executive team's success and on this measure it's fair to say we have absolutely delivered on our promises.

Strategic opportunities

From the Board's perspective we are excited by the potential our Company has to further onlybuild and grow our trusted brands.

Over the next 12 months we expect to see strong growth in Kogan First subscriptions, ongoing growth in Exclusive Brands, further enhancement and development of the Kogan Marketplace and the benefts from Mighty Ape growth and synergies fowing through.

We have an exciting future ahead of us as we continue our focus on delivering great value to our customers, team members and our Shareholders.

useRuslan will discuss these growth opportunities further in his review.

Our Team

I would like to commend our team at Kogan.com. Their safety, health and wellbeing are at our top priorities. Our business takes all measures necessary to ensure that our team is safe, including the mental health of our team members. As our team is transitioning their return

personalto the offce, they are supported by a fexible work model and various health and wellbeing initiatives.

I am extremely proud of the Kogan.com team who, through all the uncertainty this pandemic continues to bring, remain focused and continue to fnd new ways to support our customers when they need us most.

On behalf of the Board, thank you for your continued commitment to the Kogan.com mission, values and community.

Finally, I note that, while the majority of Shareholders and proxy advisers have voted or recommended in favour of the Remuneration Report, not all proxy advisors took this position and I expect we will have a degree of adverse sentiment expressed in today's vote on the Remuneration Report. From my position, and that of our Board, I wish to reinforce that we are always listening to the feedback from our Shareholders on how to review and improve our Company, which is demonstrated in the signifcant changes made over the

Forpast 12 months, including changes to the composition of our Board and the implementation of new policies and frameworks of governance of your Company. I would also like to reinforce that we are delighted to have Ruslan and David - two exceptional executives - retained and inspired to aim high.

I would now like to invite our Founder, Ruslan Kogan, to address the meeting and provide a more comprehensive review of the business during the 2021 fnancial year, and an update on trading for the start of fnancial year 2022.

CEO's address onlySLIDE 8: CEO's Address

Thank you, Chairman.

It's a pleasure to address you all today at our 2021 Annual General Meeting. Thank you for taking the time today.

useSince last year's AGM we have spent nearly half the year in lockdown, working remotely, being away from our families, friends and loved ones. Needless to say, it was a challenging year for many in the country and around the world.

Our team remained focused through diffcult COVID-impacted operating conditions, and worked hard to support our customers when they needed our help most. By making the most in-demand products and services more affordable and accessible, we made sure that

all our customers could get what they needed, delivered directly to their door. personalOur millions of customers have seen lots of great new things at Kogan.com and on the

Kogan app. But behind the scenes, our team has been inventing new ways to deliver more choice, more value, and even faster delivery. I'm excited to tell you more about these things today.

SLIDE 9: Creating choice for our customers

If you're shopping online, there are three things you are looking for - choice, value and speed. Combined, they create the ultimate convenience.

It's been a long time since I started this business in my parent's garage with just a handful of products. Today, when a customer visits one of our sites, they get the incredible choice of more than 13.8 million products. So whether it's a Fortis treadmill, a 55" Kogan QLED Smart TV, or a Matt Blatt Hans Wegner elbow chair from our Exclusive Brands range, a Natio skin care product from our Third-Party Brands or one of the millions of products on the Kogan

ForMarketplace - if you are looking for it, we not only have it available, but we have it available at a great price and ready to be quickly delivered to your door.

This makes Kogan.com more relevant to more customers, and makes us the frst and best choice for Aussies and Kiwis to fnd and buy what they need.

onlySLIDE 10: Improving customer value

This huge increase in the scale of what you can now buy on Kogan.com has underpinned the strong growth in active customers and increased loyalty and repeat customers.

The number of repeat customers and repeat orders is rising sharply. These customers obviously know they're getting a great deal. What's really exciting here is that these customers are also leaving product reviews, meaning people new to online shopping can

usesee what previous buyers thought of a product. We also act on these reviews and ratings, together with internal data sources, to improve our purchasing decisions and ensure we have the best value and range to offer our millions of visitors to the platform.

We believe that once you've been able to shop for virtually everything you need with a few clicks or taps while sitting on your couch, why would you go back to battling parking lots and crowds? With a huge range, great value and frst class service, Kogan.com and Mighty

personalApe are well-positioned to continue delighting customers in Australia and New Zealand.

SLIDE 11: Improving delivery to customers

I'm very excited to share something new with you today. We've been developing our own last mile delivery service, fully operated by Kogan.com. Kogan Delivery Services is currently operating in Melbourne, Sydney and Brisbane. We're using smart software to provide the most effcient delivery routes, reducing the average time between when your item has been dispatched from our warehouse, to its delivery at your door. Customers who have experienced it so far have been able to track their delivery vehicle once the order has left one of our hubs, knowing exactly when to expect delivery.

We've delivered nearly 60,000 orders in the last few months. It's early days, but feedback from our customers has been great and we're excited about scaling this.

SLIDE 12: Kogan Marketplace

ForThe success of Kogan Marketplace has resulted in the platform nearly doubling its Gross Sales year-on year to over $300 million. And the frst quarter of FY22 has outperformed the prior corresponding period by nearly 50%.

I talked earlier about the importance of range. Customers want to know that if they go to Kogan.com, we'll have what they need. Kogan Marketplace has been a huge driver of this - enabling us to grow infnitely without ongoing investment in inventory.