Share-based compensation (Tables)

12 Months Ended

Dec. 31, 2020

SOP 2019

Disclosure of terms and conditions of share-based payment arrangement [line items]

Summary of option valuation models

Grant Date	May 15, 2020
Fair value per share (i)	EUR 1.86
Exercise price	EUR 1.00
Risk-free interest rate (ii)	0%
Expected dividend yield (iii)	0%
Expected life (years) (iv)	4 years
Expected volatility (v)	50%
Fair value of options	EUR 1.07

(i) The Fair value per share is derived from the value of an ADS of Jumia Technologies AG traded on the New York Stock Exchange converted into Euro and divided by the conversion ratio of 2 (1 ADS represents 2 shares of Jumia Technologies AG).

(ii) Risk-free interest rate is based on German government bond yields consistent to the expected life of options. A risk-free rate of 0% is considered as a floor.

(iii) Expected dividend yield is assumed to be 0% based on the fact that the Group has no history or expectation of paying a dividend.

(iv) Expected life of share options is based on the minimum waiting period.

(v) Expected volatility is assumed based on the historical volatility of comparable companies in the period equal to the expected life of each grant.

Summary of awards and development during the period

		Weighted	Weighted
		average	average	Weighted
		remaining	exercise	average fair
	Number of	life	price	value
SOP 2019	awards	(years)	(euro)	(euro)
Unvested awards outstanding at December 31, 2019	1,000,714	2.4	1.0	9.9
Granted during the period	681,496	2.4	1.0	1.1
Exercised during the period	—	—	—	—
Forfeited during the period	(233,333)	—	—	—
Cancelled during the period	—	—	—	—
Vested during the period	—	—	—	—
Unvested awards outstanding at December 31, 2020	1,448,877	2.4	1.0	5.7

SOP 2020

Disclosure of terms and conditions of share-based payment arrangement [line items]

Summary of option valuation models

	May 15, 2020		December 8, 2020
Fair value per ADS(1)	USD 6.48		USD 35.50
Exercise price per ADS	USD 3.67		USD 16.48
Risk-free interest rate(2)	0.26	%	0.26	%
Expected dividend yield(3)	0	%	0	%
Expected life (years)(4)	4 years		4 years
Expected volatility(5)	50	%	50	%
Weighted average of Fair value of Options	EUR 1.60		EUR 9.07

(1) The Fair value per share is derived from the value of an ADS of Jumia Technologies AG traded on the New York Stock Exchange.

(2) Risk-free interest rate is based on US government bond yields consistent to the expected life of options.

(3) Expected dividend yield is assumed to be 0% based on the fact that the Group has no history or expectation of paying a dividend

(4) Expected life of share options is based on the minimum waiting period.

(5) Expected volatility is assumed based on the historical volatility of comparable companies in the period equal to the expected life of each grant.

Summary of awards and development during the period

		Weighted	Weighted
		average	average	Weighted
		remaining	exercise	average fair
	Number of	life	price	value
	awards	(years)	(euro)	(euro)
Unvested awards outstanding at January 1, 2020
Granted during the period(1)	2,445,833	2.4	1.5	1.4
Granted as a replacement during the period
Replaced during the period
Forfeited during the period	(40,000)
Cancelled during the period
Vested during the period
Unvested awards outstanding at December 31, 2020	2,405,833	2.4	1.5	1.4

(1) Up to 1,420,848 additional options can be granted under the SOP 2020, if certain profitability conditions are fulfilled.