Ease2pay N.V.

Investor Presentation • Nov 29, 2021

Investor Presentation

Ease2pay and Involtum: Mobile payment platform for shared self-services Supporting the energy transition

29-11-2021

Creating Leading Mobile Payment Platform for Transport Services

Merge of Mobile Payment and Self-Service Platform

2 3 4

European Wide Self-Service Platform

Mobile Self-Service Empowers Users

Pay

Mobile Self-Service Empowers Merchants

Strong Trends Supporting Growth of Self-Service

Using IoT plus mobile payments and support the energy transition with self-service

IoT Connecting and unlocking devices & services to share

Mobile payments Significant growth in payments via smart devices

Energy transition

Consumers use unattended charging services

248 418 594 800 1.079 1.567 Global end-user spending on IoT solutions (USDbn)

2020 2021 2022 2023 2024 2025

Source: Statista, PWC, IEA

Market Strategy: 1 Platform for 3 Transport Markets

	I Individual Transport	II Recreational Transport	III Freight Transport
Targeted end-market	ü Digital on & off-street parking ü Fuel market ü EV-charging	ü Marinas ü Camper sites ü Launderettes	ü Truck charging ü Shore power for shipping ü Public spaces
Mobile self-services	• Booking Fuel • Parking • Charging	• Washing • Booking • Power supply • Parking • Water supply • Charging •	• Booking • Water supply • Parking • Fuel • Charging • Washing
Market	B2C	B2C	B2B
Own labels
Strategic channels

Targeted End-markets: Individual Transport I

	DIGITAL ON-	& OFFSTREET PARKING	FUEL	EV-CHARGING
Market dynamics	§ § § in the market §	Centrally organised parking network by SHPV Large Dutch market with decent outlook Various other on-street parking app providers Parking garage players pose major entry barrier, but still very low digital adoption rate	§ Oil corporates pose major entry barriers § No other smartphone payment and loyalty providers active § Plastic fuel cards are widely used against higher prices	§ Many different charging point operators (CPOs) § Market demand driven by significantly growing # of EVs § Plastic charging cards are widely used
Dutch addressable market revenue	(EURm) Revenue CAGR '21-'31: 19% 160 Revenue - Market 90 28		(EURm) Revenue CAGR '21-'31: (2%) 65 59 53	(EURm) Revenue CAGR '21-'31: 28% 183 56 16
	2021F	2026F 2031F	2021F 2026F 2031F	2021F 2026F 2031F

Targeted End-markets: Recreational Transport Services II

			CAMPER SITES			MARINAS
Market dynamics		§ § payment solutions §	Paid camper bays that offer overnight stays and access to electricity and water Large European market, with many ad-hoc Introductions of e-camper models		§ Digitalising transactions, reservations and electricity and water supply in marinas § Large European market, with multiple marina service providers at early stage of digitalisation § E-boat market to grow fast over next years
European addressable market revenue	Revenue - Market	(EURm) 19 2021F	Revenue CAGR '21-'31: 10% 24 2026F	50 2031F	(EURm) 54 2021F	Revenue CAGR '21-'31: 9% 64 2026F	132 2031F

Source: Campercontact (NKC) data, Carbon Trust - Roadmap for the decarbonisation of the European Recreational Marine Craft Sector (2021), company information

Targeted End-markets: Freight Transport Services III

	TRUCK CHARGING1	SHORE POWER
Market dynamics	§ Charging points refrigeration trailers and e trucks § Early stage but large expected market § Estimated increase from almost zero to 290k public and non-public truck charging points in 2030	§ Access to electricity and water supply in harbours for inland vessels § Only two players active in the Dutch market § Provide charging services in the future, when inland ships shift to electric engines
European addressable market revenue	(EURm) Revenue CAGR '21-'31: 157% 1.965 Revenue - Market 78 0,2	(EURm) Revenue CAGR '21-'31: 3% 5 4 3
	2021F 2026F 2031F	2021F 2026F 2031F

Combined Sales Strategy: Partners & Merchants

Merge of Mobile Payment and Self-Service Platform

13

Proven Track Record and Robust Performance

Proven Track Record and Robust Performance

Experienced and Invested Founder-led Management Team

Jan Borghuis Co-CEO

Co-founder 2017 – Present

Co-founder 1995 - 2014

Gijs van Lookeren Campagne Co-CEO

Co-founder 2017 - Present

Co-founder 1995 - 2014

Accountant Assistant 1992 - 1995

26 years of entrepreneurship, proven track record in payments industry plus innovation leader in individual transport

26 years of entrepreneurship, proven track record in payments industry plus innovation leader in individual transport

Edwin Noomen CFO/CTO

Managing Director 2015 - Present

Partner 2007 - 2015 SEnS Capital

Head of Structured Finance 2001 - 2007

Structured Derivatives 1996 - 2001

11 years of experience in the financial sector and founded Involtum in 2015

Maarten Hektor Sales & Marketing director

Managing Director 2015 - Present

Electric charging platform 2012 - 2015

Interim work for Eneco 2004 – 2012 Desysion

Management Consultant 1998 – 2004

Project Office Manager 1997-1998

Trainee 1996-1997

Founded the predecessor of Involtum in 2012 and has more than a decade of entrepreneurial experience

Hans Bevers NomadPower director

Managing Director 2016 - Present

Fixed Income Derivatives 2006 - 2015

Fixed Income Derivatives 1999 - 2006

Analyst 1997 - 1999

Joined the Involtum team in 2016, where he set up the largest European charging network for refrigeration trailers and e-trucks

Ambitious Growth Strategy: Individual Transport I

	DIGITAL ON- & OFFSTREET PARKING					FUEL			EV-CHARGING
Market dynamics	§ Centrally organised parking network by SHPV § Large Dutch market with decent outlook § Various other on-street parking app providers in the market § Parking garage players pose major entry barrier, but still very low digital adoption rate				§ Oil corporates pose major entry barriers § No other smartphone payment and loyalty providers active § Plastic fuel cards are widely used against higher prices			§ Many different charging point operators (CPOs) § Market demand driven by significantly growing # of EVs § Plastic charging cards are widely used
	(EURm)	Revenue CAGR '21-'31: 19%		(EURm)	Revenue CAGR '21-'31: (2%)			(EURm)		Revenue CAGR '21-'31: 28%
Dutch addressable market revenue	Revenue - Mark et	28 2021F	90 2026F	160 2031F		65 2021F	59 2026F	53 2031F		16 2021F	56 2026F	183 2031F
	(EURm)	Revenue CAGR '21-'31: 58%		(EURm) Revenue CAGR '21-'31: 81%		(EURm) Revenue CAGR '21-'31: n.m.
E2P/Involtum revenue and market share ambition	Revenue - E2P/Involtum Market share - E2P/Involtum	1% 0,3 2021F	13% 12 2026F	18% 29 2031F		1% 0,0 2021F	10% 5 2026F	10% 6 2031F		- - 2021F	3% 2 2026F	4% 7 2031F
E2P/Involtum positioning / opportunity How to win?	§ Offer platform to third party channels like Rabobank § Connect platform to large parking garage players § Selective M&A, targeting small entrants		§ Large Rabobank customer base will be more attractive for oil corporates § Offer additional loyalty discounts to attract more customers			§ E2P will enter the EV charging market in 2022 § Smartphone app is more transparent and convenient than current plastic charging cards § Selective M&A in EV space

Source: CBS, IHS Markit, Multiscope, Retailinsiders.nl, company information

Ambitious Growth Strategy: Recreational Transport Services II

	CAMPER SITES			MARINAS
Market dynamics		§ § payment solutions §	Paid camper bays that offer overnight stays and access to electricity and water Large European market, with many ad-hoc Introductions of e-camper models		§ Digitalising transactions, reservations and electricity and water supply in marinas § Large European market, with multiple marina service providers at early stage of digitalisation § E-boat market to grow fast over next years
		(EURm)	Revenue CAGR '21-'31: 10%		(EURm)	Revenue CAGR '21-'31: 9%
European addressable	Revenue - Market						132
market revenue		19	24	50	54	64
		2021F	2026F	2031F	2021F	2026F	2031F
		(EURm)	Revenue CAGR '21-'31: 78%		(EURm)	Revenue CAGR '21-'31: 55%
E2P/Involtum revenue and market share	Revenue - E2P/Involtum	0%	3%	18% 9	0%	2%	9% 12
ambition	Market share - E2P/Involtum	0,0	1		0,2	1
		2021F	2026F	2031F	2021F	2026F	2031F
E2P/Involtum positioning / opportunity How to win?		§ Opportunity to be first mover § Selective M&A, targeting large groups of camper customers § Ambition to become European market leader to create Booking.com effect (harvesting)			§ Opportunity to be first mover § Selective M&A, targeting marina service providers § Ambition to become European market leader to create Booking.com effect (harvesting)

Source: Campercontact (NKC) data, Carbon Trust - Roadmap for the decarbonisation of the European Recreational Marine Craft Sector (2021), company information

Ambitious Growth Strategy: Freight Transport Services III

		TRUCK CHARGING1		SHORE POWER
Market dynamics		§ trucks § § 2030	Charging points refrigeration trailers and e Early stage but large expected market	Estimated increase from almost zero to 290k public and non-public truck charging points in	§ § §	Access to electricity and water supply in harbours for inland vessels Only two players active in the Dutch market Provide charging services in the future, when inland ships shift to electric engines
		(EURm) Revenue CAGR '21-'31: 157%			(EURm) Revenue CAGR '21-'31: 3%
European addressable market revenue	Revenue - Market	0,2	78	1.965	3	4	5
		2021F	2026F	2031F	2021F	2026F	2031F
		(EURm)	Revenue CAGR '21-'31: 101%		(EURm)	Revenue CAGR '21-'31: 26%
E2P/Involtum revenue and market share	Revenue - E2P/Involtum Market share - E2P/Involtum	76%	21%	7% 130	5%	18%	38%
ambition		0,1	17		0,2	1	2
		2021F	2026F	2031F	2021F	2026F	2031F
E2P/Involtum positioning / opportunity How to win?		§ First mover advantage by aggressive roll out of European charging network for cool trailers § Start combining AC cool trailer charging and DC e-truck charging § Establish partnerships with truck OEMs			§ Currently Dutch market leader § Selective M&A § Consolidate Dutch market and eventually European market

1: Different business model – Involtum is owner of charging points, hence 100% take rate Source: ACEA, company information

Ambitious Growth Strategy

Scale-up capital needed to become the leading payment platform for shared services in transport

• ü Increase number of transactions and connections with existing merchants
• ü Using network effects and market leading position of existing labels to gain new clients
• ü Business development towards new strategic channels
• ü Roll out of labels across new (European) countries using blue-print of business in home-market
• ü Dynamic European (niche-)markets resulting in a list of multiple acquisition opportunities

Ambition for 2024

• 50m individual transport transactions

• 22k connected charging points

• EUR 19m revenue

58 FTE in 2024

Additional FTE for ICT (16), business development (15) and other functions (27)

Capital raise

Proceeds will be used to hire personnel plus invest in NomadPower network and management will co-invest

Disclaimer

IMPORTANT NOTICE

THIS PRESENTATION, ITS CONTENTS AND ANY INFORMATION PROVIDED AT THIS PRESENTATION ARE STRICTLY CONFIDENTIAL AND ARE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES OF AMERICA, ITS TERRITORIES OR POSSESSIONS, CANADA, AUSTRALIA, JAPAN OR TO ANY RESIDENT THEREOF OR ANY OTHER JURISDICTION OR TO ANY OTHER PERSON WHERE SUCH DISTRIBUTION WOULD BE UNLAWFUL. THIS PRESENTATION IS NOT AN OFFER OR INVITATION TO BUY, SELL OR SUBSCRIBE FOR SECURITIES IN ANY JURISDICTION.

Please read the following before continuing. The following applies to this document, which has been prepared by Ease2pay N.V. (the "Company") solely for discussion and feedback purposes in relation to the Company and its subsidiaries (together, the "Group"), to the oral presentation of the information in this document by members of the Company's management board (bestuur) and to any question-and-answer session that follows the oral presentation (collectively, the "Information"), each of which should be considered together and not taken out of context.

The Information is strictly confidential, subject to the terms of the confidentiality agreement signed with the Company, is in summary draft form, is solely for discussion and feedback purposes and must not be relied upon for any purpose. It does not purport to contain all information required to evaluate the Company or the Group and/or its financial position. The Information does not constitute a recommendation regarding any securities of the Company or any other member of the Group. The Information and opinions contained in this presentation are provided as at the date of this document and are subject to change without notice. This document is the sole responsibility of the Company.

The Information must not be disclosed, taken away, reproduced, redistributed, copied or passed on, directly or indirectly, to any other person or published or used in whole or in part, for any purpose. By accepting to attend the presentation to which the Information relates and access the Information, you agree that you will not distribute, disclose or provide any Information to any other person and you agree to be bound by the provisions herein. This document may not be removed from the premises. If this document has been received in error it must be returned immediately to the Company. Failure to comply with these restrictions may constitute a violation of applicable securities laws.

This document is not, and should not be construed as, a prospectus or placement document, and has not been reviewed or approved by any regulatory or supervisory authority. The Information does not constitute or form part of and should not be construed as a placement or subscription of or a solicitation or invitation of any placement to subscribe for or purchase any securities in the Company or any other member of the Group or any other entity in any jurisdiction, and nothing contained therein shall form the basis of or be relied on in connection with any contract or commitment whatsoever, in particular, it must not be used in making any investment decision.

No representation, warranty or undertaking, express or implied, is made by shareholders of the Company (jointly the "Shareholders"), NIBC Bank N.V. or ABN Amro Bank N.V. (jointly the "Banks") or any of the Company's, any member of the Group, each Shareholder's or the Bank's respective affiliates or any of its of their respective directors, officers, employees, advisors or agents (the "Representatives") or any other person as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the Information or the opinions contained therein or any other statement made or purported to be made in connection with the Company or the Group, for any purpose whatsoever, including but not limited to any investment considerations. No responsibility, obligation or liability whatsoever, whether arising in tort, contract or otherwise, is or will be accepted by the Company, any member of the Group, the Shareholders or the Banks or any of their respective Representatives or any other person for any loss, cost or damage howsoever arising from any use of the Information, or for information or opinions or for any errors, omissions or misstatements contained therein or otherwise arising in connection therewith.

The Information is subject to updating, revision, amendment, verification, correction, completion and change without notice. In providing access to the Information, none of the Company, the Shareholders, the Banks or any of their respective Representatives or any other person undertakes any obligation to provide the attendee or recipient with access to any additional information or to update the Information or to correct any inaccuracies in any such Information, including any financial data or forward-looking statements. The Information should be considered in the context of the circumstances prevailing at the time and has not been, and will not be, updated to reflect material developments which may occur after the date thereof. None of the Banks, any of their respective Representatives or any (other) agents or advisors of the Company, any member of the Group or the Shareholders have independently verified any of the Information.

The Company and the Shareholders have not decided finally whether to proceed with a placement. Such a decision would be taken only after assessing a number of criteria, including feedback and prevailing market conditions. No prospectus will be or is required to be rendered as part of the placement contemplated by the Company. You should conduct your own independent analysis of all relevant data provided in connection with the placement and you are advised to obtain independent expert advice as to the legal, tax, accounting, financial, credit and other related aspects before making any investment decision.

The Information may constitute or include forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as "plans", "targets", "aims", "believes", "expects", "anticipates", "intends", "estimates", "will", "may", "continues", "should" and similar expressions. These forward-looking statements reflect, at the time made, the Company's beliefs, intentions and current targets/aims concerning, among other things, the Company's or the Group's results of operations, financial condition, liquidity, prospects, growth and strategies.

Disclaimer

Forward-looking statements include statements regarding: objectives, goals, strategies, outlook and growth prospects; future plans, events or performance and potential for future growth; liquidity, capital resources and capital expenditures; economic outlook and industry trends; developments of the Company's or the Group's markets; the impact of regulatory initiatives; and the strength of the Company's or any other member of the Group's competitors. Forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future, including but not limited to the impact of public health crises, such as pandemics (including Covid-19) and epidemics and any related company or government policies and actions to protect the health and safety of individuals or government policies or actions to maintain the functioning of national or global economies and markets. Past performance of the Company cannot be relied on as a guide to future performance. The forward-looking statements in the Information are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management's examination of historical operating trends, data contained in the Company's records (and those of other members of the Group) and other data available from third parties. Although the Company believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control. Forward-looking statements are not guarantees of future performance and such risks, uncertainties, contingencies and other important factors could cause the actual outcomes and the results of operations, financial condition and liquidity of the Company and other members of the Group or the industry to differ materially from those results expressed or implied in the Information by such forwardlooking statements. No representation or warranty is made that any of these forward-looking statements or forecasts will come to pass or that any forecast result will be achieved. Undue influence should not be given to, and no reliance should be placed on, any forward-looking statement. No statement in the Information is intended to be nor may be construed as a profit forecast.

To the extent available, the industry, market and competitive position data contained in the Information come from official or third-party sources. Third party industry publications, studies and surveys generally state that the data contained therein have been obtained from sources believed to be reliable, but that there is no guarantee of the accuracy or completeness of such data. While the Company believes that each of these publications, studies and surveys has been prepared by a reputable source, none of the Company, any member of the Group, the Shareholders, the Banks or any of their respective Representatives has independently verified the data contained therein. In addition, certain of the industry, market and competitive position data contained in the Information come from the Company's own internal research and estimates based on the knowledge and experience of the Company's management in the markets in which the Company and the other members of the Group operate. While the Company believes that such research and estimates are reasonable, they, and their underlying methodology and assumptions, have not been verified by any independent source for accuracy or completeness and are subject to change and correction without notice. Accordingly, reliance should not be placed on any of the industry, market or competitive position data contained in the Information.

The Company does not intend to register any securities that it may offer under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or to conduct a public offering of any securities in the US. The securities of the Company have not been and will not be registered under the Securities Act and any such securities may not be offered or sold in the United States absent registration under the Securities Act or an available exemption from registration. Neither this document nor any copy of it may be taken or transmitted into the United States (except to a limited number of qualified institutional buyers as defined in Rule 144A under the Securities Act), Australia, South Africa, Canada or Japan or to any securities analyst or other person in any of those jurisdictions. Any failure to comply with these restrictions may constitute a violation of United States, Australian, South Africa, Canada or Japanese securities laws. This document is also not for publication, release or distribution in any other jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction nor should it be taken or transmitted into such jurisdiction and persons into whose possession this document comes should inform themselves about and observe any such restrictions.

The Information is only addressed to and directed at persons (A) in member states of the European Economic Area (each a "Relevant State") who are "qualified investors" within the meaning of the Prospectus Regulation (Regulation (EU) 2017/1129) ("Qualified Investors") or (B) in the United Kingdom who are "qualified investors" within the meaning of Article 2(e) of the Regulation (EU) 2017/1129 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018and (i) having professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"), (ii) falling within Article 49(2)(a) to (d) of the Order (and only where the conditions contained in those Articles have been, or will at the relevant time be, satisfied), or (iii) to whom it may otherwise lawfully be communicated (all such persons together being referred to as "Relevant Persons"). The Information must not be acted on or relied on (i) in any Relevant State, by persons who are not Qualified Investors, and (ii) in the United Kingdom, by persons who are not Relevant Persons. Any investment or investment activity to which the Information relates is available only to or will be engaged in only with, (i) Qualified Investors in any Relevant State, and (ii) Relevant Persons in the United Kingdom. The Banks, any of their respective Representatives or any (other) agents or advisors of the Company, any member of the Group or the Shareholders will not be responsible for providing advice to anyone in relation to any potential placement of securities in the Company or any transaction, matter or arrangement referred to in this document.

Access to the Information is being given in connection with a proposed meeting with the Company and no copy of the Information will be left behind after this meeting. By attending such meeting and/or accessing or reading a copy of the Information you agree to be bound by the foregoing limitations and conditions and, in particular, will be taken to have represented, warranted and undertaken that (i) you have read, accept and agree to comply with the contents of this notice including, without limitation, the obligation to keep the Information confidential and (ii) (A) if in a Relevant State you are a Qualified Investor; (B) if in the United Kingdom you are a Relevant Person; and (C) if in the United States, you are a qualified institutional buyer as defined in Rule 144A under the Securities Act, or (D) Irrespective of where you are resident or incorporated, you are an institution that is permitted within your home jurisdiction and in the jurisdiction in which you are accessing the Information, under applicable law and regulation, to access the Information.