TNT ExpressDelivering our customers’ success

Marie-Christine Lombard2 December 2010

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TNT Express

Network A global, interconnected system of local networksOwned air connectivity to provide dedicated capacity & reliabilityDense road networks to provide cost efficient solutions

PeopleService oriented cultureStrong local managementFocus on excellence and value-added services

No1 intra-Europe B2BStrong footprints: China and South AmericaBroad coverage: from Domestic to Intercontinental, from Economy to Full Service/Customised

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TNT Express today

European Road and Air Network

Middle-EastRoad network

South-AmericanRoad network

South-East AsianRoad network

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ManufacturerManufacturer RetailerRetailer End UserEnd User

Domestic

StartingPositionStartingPosition

Local economies / domestic transportPrimary focus on last-mile distribution, largely parcels based

CustomerValue Chain

TNTNetwork

TNTNetwork

Evolution

Growing with our customers

TNT Express can manage the entire flow for its customers

RegionalGlobal

WholesalerWholesalerEU DCEU DCAsiaGateway

AsiaGatewayAssemblersAssemblersSuppliersSuppliers

GlobalisationGlobalisation

Followed the customer to low cost countriesMore consolidated flows, freight basedAcquired & built dense local road networksOwned air connectivity & best-in-class hubs/depots

E-commerceE-commerce Added B2C capabilities for direct delivery

Global IT Infra-

structure

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Special/customised

Express(Day/Time

Definite)

Standard (High End)

Standard(Lower End)

Europe Intercontinental Emerging Platforms

Resulting in broad market coverage

Parcels / Freight Market Segments

Stronghold in European Express market (parcels/freight)

Expansion of value-added services in Europe

Globalisation: inter-continental trade flows

Expansion to emerging platforms to tap domestic growth

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4.7 7.0

2004 Q4 09 – Q3 10

Growth in two phases

• Expansion to Eastern Europe• Double-digit growth in

revenues and volumes• Strong profitability growth

• Expansion to emerging markets• Further growth of revenues and

volumes• Profitability diluted by network

development step-up costs…• …compounded by global

economic recession

Phase I: 2004-2007 Phase II: 2007-2010

Increased focus on costs & yield

Historic revenue development* – € billion

* Excluding one-offs and separation-related costs

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Cost savings and yield improvement programme

Figures indicative only

Target averageprice increase % revenues affected

Improved customer and product mix 1.0% 100%

General price increase for customers on standardised tariffs 3.5% 30-35%

Contract-specific price increase2.0% 65-70%

Surcharges

• Impact on profitability must be understood in context of net of cost inflation and cost efficiencies, full impact in 2011

Cost savings 2009: € 428 million

Cost savings achieved during economic downturn

Impact yield improvement measures

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Yield improvement programme starting to pay-offResults in Q4 2010

Base price increase

Contract specific

Surcharge deployment

Improved customer mix• Gap in international

revenue growth between large accounts and SME customers now gone

• In recent months net positive yield impact of customer churn

• 50% reduction of customers with partial or full fuel surcharge exemption

• Double the deployment of ‘special handling’surcharges

• Launch of Enhanced Security Surcharge as of December 12

• Low yielding customers being cut

• More than double the revenues on Monthly Volume Discount rate card

• Consistent international RPC increase in all customer segments in past 2 months

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Major Trends

Blurring Boundaries

Same day

Time certain

Day certain (1-3 days)

Day certain (3-5 days)

Day uncertain

Integrators

Mail1st class

Standardparcel operators

Couriers

Mailother

Freightforwarders

Seacarriers

Trucking companies

Documents Parcels Full Loads BulkPallets

Adjacent service and infrastructure operatorsAdjacent service and infrastructure operators

Emerging Markets

E-commerce

Sustainability

Customers are looking for efficient solutions and value-added serviceNon-guaranteed players are upgrading their service level

Continued growth of international tradeStrong domestic growth in emerging markets

Ongoing digitisation of the economyLeading to strong growth in B2C parcels

Driven by customers and governments Necessity to reduce carbon emissions & local air pollution

TNT actions

Expanding into value-added servicesOffering economic options, expand in deferred segment

Expanding intercontinental air connectivity with EuropeBuilding local & regional net-works in emerging markets

Expanding into B2C solutionsProviding internet-based sales channel to reach out to our customers

Improving CO2 efficiency:40% by 2020Launching CO2 customer services

Vision 2015: capturing growth opportunities in a changing world

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Expanding into adjacent market segments

Special/customised

High growth verticals, e.g. hospital & clinical express

Express(Day/Time

Definite)

Technology, automotive & field service fulfillment

Standard (High End)

European B2Bparcels

European express freight

Asia-EU lane Day definite servicesCapture latent express demand

Standard

High end B2C parcelsDeferred parcels

Deferred freight

Domestic market leadership

Standard(Low End)

Europe Intercontinental Emerging Platforms

Strengthen existing business

Expand into new activities

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Parcels

Freight

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Value-added services

Emerging Platforms

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21 4

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5.0 7.02009 2010E

Parcels: high-end B2C parcels solution launched1

SMS and/or e-mail notifying receiver when parcel will be delivered

Website for receiver to rearrange delivery

- Another day- Alternative address- Collection at TNT location

‘Not at home’ residential deliveries

+41%

Number of B2C parcelsmillion

20% 10%Traditional New approach

Comprehensive B2C solution for e-commerce playersComprehensive B2C solution for e-commerce players

TNT will deliver your XYZ order on 10/06/10 tracking number 122222222

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Complement TNT offering to and strengthen ties with existing large customers by providing a solution for non-Express supply chain

Focus on European-wide palletised flows

Asset-light set-up, low IT investment

Utilise existing (linehaul) capacity in current Express networks, e.g. empty backhaul

Leverage capabilities, e.g. back-office & procurement

Existing revenues in road freight ~ € 30 million

Top 25 customer potential ~€ 1.2 billion

ApproachApproach

A sizable opportunityA sizable opportunity

Express Process (Road) Road Freight Process

• Fast • On-demand• Trade and emergency flows

• To end customer• Service oriented process

• Standardised and palletised industrial freight

• Predictable and consolidated

• Tailored to large customer supply chains

• Capacity maximisation process

Freight: innovative time-definite solutions

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Spare parts storage management and order processing in forward stock locationsCourier services for urgent deliveriesIn-night for engineer deliveriesExpress services for customer deliveries and replenishmentReturns via road network

Combining Express and special delivery networks …

… to deliver high-quality service

VAS: Storapart solution for Telecom customer3

TNT’s 489 forward stock locations

2, 3 and 4 hour response KPI24 hours / 365 days availabilityFull visibility and continuous improvement through control towerISO accredited

Example

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Emerging Platforms: air connection to Chongqing4

Chengdu / Chongqing

Upcoming area

~70% of production

Production moving towardsCentral and Western ChinaProduction moving towardsCentral and Western China

TNT first to fly to Chongqingwith own 747 freighterTNT first to fly to Chongqingwith own 747 freighterStrong growth of China to Europe revenues: +34% YTD Sept.Solid growth of global computing & semiconductor vertical: +27% YTD SeptFacilitated by TNT’s unique landing rightsHoau network provides China domestic connectivity

Example

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Emerging Platforms: Brazil domestic4

• Secure mobile phonedistribution for leading brand from plant in Manaus to telecom operators and retailers throughout Brazil

• Support of product launches and distribution of hand-held devices for leading high-tech computing company from Sao Paulo to telecom operators in Brazil

• Distribution of auto spare partsto garages for several leading car manufacturers and OEMs

Brazil already #3 growth area for our global accounts (after intra-Europe and China to Europe) leading to >60% revenue growth Sept YTD for GAM segment in Brazil

TNT supports industry leading companies with their expansion into BrazilTNT supports industry leading companies with their expansion into Brazil

Example

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Focus on CO2 efficiency driven by customer requirements

Visibility of CO2

emissions in supply chains

Historical and predictive reporting of CO2 emissions

Joint efforts to reduce CO2

Efficient and clean

transportation

• Bespoke, top-down and activity-based CO2allocation system – including suite of reporting services

• Conform to latest World Economic Forum Consignment-Level Carbon Reporting guidelines

• System CO2 methods assured by external party

• Launch of marketing programme – including dedicated Microsite

100 602007 2020

-40%

TNT Express carbon efficiency targetIndex: 2007 = 100

What customers are asking for

Global roll-out of System CO2 in 2011

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Key financial principlesBalanced mix of high return high growth activitiesStringent investment and working capital managementTax optimisationStrong cash flowSolid balance sheet

Value, growth and profit

EBIT + asset efficiency + tax efficiency

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€ million Revenues EBIT

EBIT after allocation TNT NV central

costs

Q4 09 -Q3 10

Europe & MEA ~4,500

ASPAC ~1,550

Americas ~500

Other Networks ~400

Express ~6,950 ~350 ~330

2011 Target 7,300 – 7,500 420 – 440 400 – 420

2015 Target 10,000 – 11,000 900 – 1,000

2011 and 2015 Express outlook

Note: all figures exclude one-offs, Q4 09 – Q3 10 figures at actual fx rates, targets at constant fx rates

Includes ~€ 20 million of allocated central costs, which will be offset by specific efficiency measures in the coming years

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Executive and Management Boards

Marie-Christine LombardCEO

17 years at TNT

Bernard BotCFO

5 years at TNT

Jan Willem BreenDirector

Marketing & Sales4 years at TNT

Chris GoossensDirector Global

Operations22 years at TNT

Group HR Director

David BurtonRegional Managing Director

Northern Europe28 years at TNT

Christian DrenthenRegional Managing Director

SE and MEA16 years at TNT

Michael DrakeRegionalManagingDirectorASPAC

17 years at TNT

Guy MasonICS Managing

Director1 year at TNT

Mark GuntonRegional ManagingDirector

Americas21 years at TNT

To be

appointed

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3,500 P&L responsible Express entrepreneurs