1、Q1 2024 RESULTSMELANIE KREIS,GROUP CFODHL GROUP INVESTOR RELATIONSMay 7th,20241Management comments:B2B volumes did not show any meaningfulacceleration yet,as expected.B2C volumes indomesticmarketscontinuedtofollowthestructurale-commercedrivengrowthpath.Economic indicators increasingly point to posit

2、ivesignals confirming our assumption that globaltrade environment will improve in the secondhalf of the year,in linewith our FY 2024 guidanceassumptions.Against this background,we currently remainfocusedoncostandcapexcontrolwhilecontinuingto invest into long-term growthopportunities.22Guidance confi

3、rmed as market environment stabilizes but has not yet re-accelerated,in line with our guidance assumptionsQ1 2024 Group HighlightsBalanced approach:Strong cost focus yet continued investment in future growthSolid earnings and strong cash flow levels at cycle low allow to drive continued investment i

4、n future growth&cost improvementsQ1 developments in line with expectations continued cost and capex control remains main focus for nowQ1 2024 RESULTS|DHL GROUP INVESTOR RELATIONS|7 MAY 2024Management comments:As expected,our cyclical B2B businesses havenot seen any meaningful acceleration in activit

5、ylevelsjustyet.While air and ocean freight volumes are back togrowth in Q1 compared to a low base in Q12023,B2B TDI Express volumes show morestable yoy development confirming the historicpattern that Express TDI is less volatile and moreresilientthanfreightmarkets.3Q1 2024 RESULTS|DHL GROUP INVESTOR

6、 RELATIONS|7 MAY 20243B2B volumes developmentImprovement vs.low base but no dynamic acceleration in activity yet*excl.Hillebrand Air(+5%yoy)and Ocean(+7%yoy)Freight volumes back to yoy growthvs lowbaselastyear Confirmedpatternfrompreviousdownturns:Less cyclicality in ExpressTDIvolumesvs.Air&OceanFre