sennder and Poste Italiane expand Italian Joint Venture

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PRESS RELEASE

· sennder and Poste Italiane have renewed and strengthened their partnership with a €2.3 billion commercial deal, committing to their Italian Joint Venture, sennder Italia S.r.l., for up to 10 years

· sennder Italia S.r.l. has achieved strong profitability, delivering €4.5 million EBITDA in 2022 and generating significant cost savings for Poste Italiane through technology that increases transportation efficiency, network density and reduces manual operations

· sennder Italia S.r.l. serves as the blueprint for sennder’s sennCONTROL service model, offering end-to-end management of Full Truck Load volume, bringing benefits to shippers and carriers across Europe

Berlin, 12 July 2023 – sennder Technologies GmbH (“sennder”), Europe’s leading digital freight forwarder and Poste Italiane S.p.a. (“Poste Italiane”), the leading Italian postal and logistics operator, have renewed their Italian Joint Venture (JV) and commercial agreement for up to 10 years, with the potential to generate up to €2.3 billion revenues for sennder Italia during that period. Together, the two logistics leaders are utilizing technology to optimize Full Truck Load (FTL) operations and boost the movement of parcels and mail between Italy’s sorting and distribution hubs.

In 2019, sennder established operations in Milan and created sennder Italia S.r.l. through a JV with Poste Italiane. Since then, sennder Italia S.r.l. has become the leading digital operator in the Italian FTL market, developing a profitable business, reporting €4.5 million EBITDA in 2022. The success of the partnership has led to continuous year over year double-digit growth as sennder Italia S.r.l. has grown its network capacity and expanded its customer base.

Due to the success of the JV, sennder Italia S.r.l. will be expanded for a duration of 10 years. The agreement is expected to generate €2.3 billion revenues for sennder Italia during that period. As part of the agreement, Poste Italiane and sennder have agreed to accelerate the respective conversion rights envisaged by the pre-existing agreements and, as a result sennder owns 75% of sennder Italia while the remaining 25% is retained by Poste Italiane. In return, Poste Italiane has increased its stake in sennder to approximately 10% on a fully diluted basis. sennder will further integrate the Italian network into its broader European platform. With this partnership, the two logistics leaders will be able to further realize economies of scale and accelerate industry digitalization. Poste Italiane will continue to benefit from full GPS visibility of trucks, state-of-the-art automation technology and reduced CO2 emissions through vehicles powered by alternative fuels, as well as their increased utilization.

“The partnership between Poste Italiane and sennder exemplifies the tremendous value that can be generated when a leading and established operator joins forces with a technology company. It is a true win-win relationship where Poste Italiane benefits from significant cost savings, our operations run

more profitably and we achieve remarkable CO2 emission reduction through network optimization. This partnership is a testament to the power of innovation and collaboration in the logistics industry, setting a benchmark for future partnerships. We are proud to be at the forefront of this journey, delivering tangible benefits for all stakeholders in the industry,” said David Nothacker, CEO and Co-Founder of sennder.

Through advanced technology and cutting out middle-layers of subcontracting, sennder has enabled thousands of small carriers to efficiently and transparently transport Poste Italiane’s loads, leading to enhanced operational efficiency and streamlined logistics processes. sennder’s platform helps track, monitor and operate shipping loads digitally, removing manual processes, reducing empty kilometres and increasing efficiencies. Additionally, sennder’s technology enables Poste Italiane to track its CO2 footprint and implement green business solutions, reducing emissions.

The collaboration was the initial blueprint for sennCONTROL, sennder’s innovative service model. sennCONTROL offers end-to-end digital management of customers’ FTL volume through a single portal and interface, ensuring control, transparency, and a single point of contact for shippers and carriers. The collaboration between sennder and Poste Italiane has paved the way for the expansion of sennCONTROL across Europe and is already used by nearly 10 customers.