1 CXP Analyst and Investor Meeting Denver – September 2007 Floris Waller CFO and member Executive Board Corporate Express US Analyst Meeting Denver – September 2007

2 CXP Analyst and Investor meeting, Denver September 2007 “Safe Harbour” Statement under the Private Securities Litigation Reform Act of 1995 Statements included in this press release, which are not historical facts are forward-looking statements made pursuant to the safe harbour provisions of the Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of Such forward-looking statements are made based upon management’s expectations and beliefs concerning future events impacting Corporate Express and therefore involve a number of uncertainties and risks, including, but not limited to industry conditions, changes in product supply, pricing and customer demand, competition, risks in integrating new businesses, currency fluctuations, and the other risks described from time to time in the Company’s filings with the US Securities and Exchange Commission, including the Company’s Annual Report on Form 20-F filed with the Securities and Exchange Commission on March 9, As a result, the actual results of operations or financial conditions of the Company could differ materially from those expressed or implied in such forward-looking statements. Shareholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. The Company undertakes no obligation to update publicly or revise any forward-looking statements.

3 CXP Analyst and Investor meeting, Denver September 2007 What (not) to expect those days What to expect – Focus will be on Corporate Express US (CEUS)  CEUS is our North American division, excluding Canada – Strategic accounts, merchandising, CEC, logistics What not to expect: – Strategic Review will not be discussed  Outcome can be expected at end of September  Specific date to be announcement later – No update on current trading, neither for US nor for Group

4 CXP Analyst and Investor meeting, Denver September 2007 History of Corporate Express 1851 Incorporated 1938 Listed on Amsterdam stock exchange 1993 Merger KNP, Bührmann-Tetterode, VRG  KNP BT 1998 KNP BT distribution’s sector  Buhrmann NV 1999 Merger with Corporate Express, Inc. 2001Acquisition Office Supplies Division Samas Acquisition Office Supplies Division USOP 2003 Sale of Paper Merchanting Division 2007Sale of ASAP Software 2007Renamed Corporate Express NV

5 CXP Analyst and Investor meeting, Denver September 2007 BT VRG KNP KNP BT Sector PaperSector PackagingSector Distribution Sappi Kappa 30% flotation BT OPI on NYSE Multiple add-on acquisitions De-listing BT OPI Buhrmann OP North America Graphic Systems Paper Merchanting OP Europe OP Australia ISD SCH Ltd

6 CXP Analyst and Investor meeting, Denver September 2007 Multiple add-on acquisitions Corporate Express US OP Samas PaperlinX Dell Corporate Express OP North America ASAP Software Paper Merchanting OP Europe OP Australia Graphic Systems

7 CXP Analyst and Investor meeting, Denver September 2007 Going-concern overview - excl. ASAP Software Based on LTM figures, excluding ASAP Software and Davenport Office LTM sales EUR 5,621 mln – Office Products EUR 5,020 mln – Printing Systems EUR 601 mln LTM gross contribution EUR 1,839 mln – Office Products EUR 1,651 mln  As % of sales: 32.9% – Printing Systems EUR 188 mln LTM EBIT* EUR 242 mln – Office Products EUR 213 mln  Includes Corporate (EUR 9 mln)  As % of sales: 4.2% – Printing Systems EUR 29 mln *Before special items

8 OP Europe Sales increased 38% at constant rates – Organic growth 5% In general, market conditions are favourable with growing employment, solid economic conditions Strongest sales growth Nordics, UK, France – Facility strong sales growth Continued strong improvement gross contribution 2007: continued organic sales growth expected and significantly higher sales and EBIT – Sales improvement – Merchandising

9 OP Australia Q2 07 sales +9% at constant rates – Generated across its diverse markets – Healthy growth in facility and breakroom – Contribution Educational Experience Gross contribution up 12% In H new state-of-the art distribution Centre to be opened in New South Wales Going forward, – Focus on further leverage single-source model to drive organic growth – Capitalise on acquisition strategy – Strong focus on business efficiency improvements

10 Printing Systems For FY 2007 optimistic about continued sales and earnings growth Q2 07: good quarter with sales +7% Mainly driven by printing presses Sold Veenman Germany to Konica Net sales 2006 EUR 565 mln Graphic Systems EUR 471 mln – Triple S: 34% of total sales Veenman Group EUR 94 mln Excl. Veenman Group

11 CXP Analyst and Investor meeting, Denver September 2007 North America LTM sales EUR 3,059 mln 9,862 FTEs Europe LTM sales EUR 1,186 mln 3,980 FTEs Australia & New Zealand LTM sales EUR 775 mln 2,537 FTEs Southeast Asia alliances Latin America alliances Europe alliances LTM = Last twelve months Global Office Products - Global Coverage

12 CXP Analyst and Investor meeting, Denver September 2007 Global customers Only player with such capabilities, strong growth Combined sourcing Asian sourcing offices, supplier relations, private brands Exchange best practices Pick-to-Voice, eCommerce, Salesforce.com Product range extension Private brands Global Office Products - Global Coverage

13 CXP Analyst and Investor meeting, Denver September 2007 Products and services From ‘Office Supplies’ towards ‘Supplies for the Office’ North America Europe - Office supplies - Computer supplies - Print & forms management - Facility - Breakroom - Office furniture - Customised corporate gifts - Educational supplies - IT hardware - Desktop software - Others ------ ----------  Australia

14 CXP Analyst and Investor meeting, Denver September 2007 Market Environment Corporate Express Office Depot Office Max Staples Lyreco Regional/ Local Players Staples Office Depot Office Max Supermarkets Independent Retailers Wide range / consumables Next Day Delivery CONTRACTDIRECT MAIL Limited Offering RETAIL Physical Presence Lease obligation Staples Office Depot Office Max Regional/ Local Players

15 CXP Analyst and Investor meeting, Denver September 2007 Average working capital as % of sales 4 quarter rolling average 9.7%

16 CXP Analyst and Investor meeting, Denver September 2007 in EUR mlnQ2 07LTMGuidance FY 07 EBIT Depreciation pp&e ± 90 Amortisation intangibles ± 12 Adjustments for non-cash (0.2)0.4 Change in inventories(2.8)(38.2) Change in trade receivables(70.8)(63.1) Change in trade payables Change in other receivables/liabilities(25.3)2.5 Change in working capital7.2(33.1) Payments for defined benefits plans(2.5)(13.2)± (10) Profit tax paid(8.5)(30.2)± (35) Other operational payments(0.5)(29.2) Cash Flow operational activities Investments in pp&e and software(26.1)(92.7)± (100) Acquisitions, integration, divestments(1.7)(279.2) CF available for financing activities45.8(130.2) Consolidated cash flow statement

17 CXP Analyst and Investor meeting, Denver September 2007 Net interest-bearing debt Excl ASAP Software *, in bold ­ Leverage ratio: 3.7x → 3.3x * ­ Interest coverage ratio 4.5x → 4.6x * ­ Net interest-bearing debt as percentage of group equity: 98% → 75% * 1,456 1,208 * Assumes ASAP Software divestment per end of June 2007 Proceeds USD 340 mln (± EUR 248 mln) *

18 CXP Analyst and Investor meeting, Denver September 2007 in EUR mln ActualCash Interest % Revolver (EUR 255 mln facility)42LIBOR +2.50% drawn; +0.75% undrawn Term Loans A / D (senior credit facility)642EURIBOR +2.50%/2.00% Convertible (subordinated) % Equity Adjustment Convertible(22) Securitisation172 LIBOR +0.40% drawn; +0.28% un-drawn High Yield bonds (USD 300 mln; subordinated)2227 7/8%-8¼% semi annual Preferences Shares A (nominal value)18121 cts/share; EUR 11mln Other Debt202 Capitalized financed fees(21) Cash(77) Interest – Bearing Net Debt1,456 Funding (per end of June 2007)

19 Productivity in your hands Closing remarks Productivity in your hands Increased corporate focus on office products via divestment ASAP and Veenman Germany OP Europe, OP Australia, Printing systems showing good performance OP North America to be covered in detail today and tomorrow ---/--- Strategic review outcome expected at end of September No trading update to be expected Enjoy your 1.5-day Corporate Express Analyst & Investor meeting

20 CXP Analyst and Investor Meeting Denver – September 2007 Productivity in your hands.