CETTIRE LIMITED — AGM Information 2021

Nov 17, 2021

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ASX Announcement

18 October 2021

Annual General Meeting – Address and Presentation

Cettire Limited attaches the addresses to the AGM by the Chairman and CEO and related presentation.

This announcement has been authorised for release by the Board of Directors of Cettire Limited.

--ENDS—

Further Information please contact:

Media

Investors Media Tim Hume Ronn Bechler Helen McCombie CFO Market Eye Citadel-Magnus investors@cettire.com ronn.bechler@marketeye.com.au hmccombie@citadelmagnus.com +61 400 009 774 +61 411 756 248

About Cettire

‑ Launched in 2017, Cettire is a global online retailer, offering a large selection of in demand personal luxury goods via its website, cettire.com. Cettire has access to an extensive catalogue of approximately 1,700 luxury brands and 200,000 products of clothing, shoes, bags, and accessories. Visit: www.cettire.com

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Cettire Limited – ACN 645 474 166

AGM Address

Chairman’s Address to AGM

Cettire successfully listed on the ASX in December 2020 increasing the profile and growth potential of the business. In its first year post listing, it has delivered on this growth and is positioned to continue this trend.

The global personal luxury fashion market is an approximate $400bn market. Cettire currently operates in approximately 50 markets with USA, Australia and the UK being our largest. The online luxury fashion market also continues to benefit from factors including, a rise in global incomes, an increasing digital penetration in luxury fashion goods and a high shopping frequency based on seasonality – these trends are expected to gain momentum.

As one of the largest global online retailers of luxury fashion and accessory products, Cettire offers a large selection of the finest and luxury fashion and accessory products and brands, with a total database growing to approximately 200,000 products and 1,700 luxury brands during the year.

Our active customer base has rapidly grown to approximately 158,000. Not only are we growing our customer base, but we are growing our proportion of repeat customers and our repeat customers are shopping more frequently. In FY21, our underlying Average Order Value also increased.

Product range, competitive pricing and rapid product fulfilment is a significant value proposition for our customers. Our ‘no inventory model’ means we can offer both breadth and depth in product – a clear differentiator in market. We offer value to our customers via competitive pricing and rapid fulfilment. This is made possible by our proprietary technology and our extensive network of suppliers.

Our technology integrates seamlessly with our suppliers’ systems and is designed for operating a global e-commerce business at scale with a high degree of automation. This automation also allows efficient and cost effective growth in product and customer base and is key to achieving the Group’s growth objectives.

Our extensive supply network of trusted distributors and wholesalers in the luxury product market provide Cettire with the extensive product range we have today – the business will continue to expand this distribution network. Complementary to our existing supply chain, we have started to build direct brand relationships as a natural evolution of our supply chain – over time, this evolution is expected to further expand our product range.

With a focus on customer acquisition, improving conversion rates and driving average order value, in FY21, key operating metrics achieved significant year-on-year increases and outperformed prospectus forecasts. Notably, year-on-year sales revenue increased by 304%, exceeding prospectus forecast by 32%.

During the year the business introduced a free returns policy and also secured partnerships with global buy now pay later operators, Afterpay and Klarna.

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Cettire Limited – ACN 645 474 166

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In August 2021, Cettire’s proprietary e-commerce storefront software, delivering increased site performance, flexibility and functionality, was launched. This development is designed to support the business as it scales, accelerate global expansion and introduce greater localisation features to the online platform.

The business will continue to invest in marketing and brand strategies to maintain and accelerate customer acquisition and retention.

Skilled capability in key areas of the business including technology, marketing and operations is fundamental to optimal operations and growth - ongoing investment in these key resources will continue and ensure delivery of these objectives.

I thank my fellow Board members, CEO Dean Mintz and CFO Tim Hume, the extended management team and all team members for their contribution to the business over the past year.

I also thank our shareholders, customers, trading partners and all stakeholders for their ongoing support and investment in the business over the past year.

I look forward to the year ahead and to building on the successes of FY21 as the Group executes on its growth ambitions.

CEO’s Address to AGM

Thank you, Bob. Good afternoon fellow shareholders.

FY21 has been a phenomenal year of growth and transformation for Cettire, highlighted by the IPO of our company on the ASX in December 2020. Our IPO sets us up for the next phase of our growth journey.

We want Cettire to be a leading global platform for all members of the luxury value chain and I strongly believe we are just getting started.

As Bob said, our market opportunity is large, our technology is world class and our supply chain is robust. As a management team, we are laser focused on execution and if we continue to do the right things at the right time our financial performance will reflect this.

FY21 financial performance

I am very proud of the significant outperformance Cettire has achieved across all key operating and financial metrics.

We upgraded revenue guidance twice through the course of the fiscal year and beat the upgraded guidance. Across the board, Cettire has significantly outperformed, with key metrics essentially quadrupling the FY20 comparator.

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Cettire Limited – ACN 645 474 166

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Summarising some of the key business performance metrics:

• Web traffic, which increased 266% on FY20 to 13.9 million unique visits, more than 30% above prospectus forecast of 10.2 million

• Conversion rate of 1.22% compared to 1.14% in the prospectus and increased 24% year on year

• Active customers increased 285% to around 115k

• Gross revenue increased 333% year on year to $124.5 million, well ahead of prospectus forecast

• Sales revenue increased 304% to $92.4m, again well ahead of prospectus forecast and our revised guidance through the year

Cettire also generated healthy product margins of 37% and operating cash flow of around $13 million.

The efficiency of our explosive growth is a key differentiator of our business model.

Operational highlights – FY21

Operationally, FY21 saw strong progress.

From a technology perspective, we announced the launch of our proprietary ecommerce storefront. This was a large engineering effort and will become a fundamental component in the next phase of our global expansion. And I will talk more about this and what it means for the business in a moment.

We invested heavily on improvements to the client side user experience. This involved onsite branding initiatives to position Cettire in the upper echelons of the luxury market, as well as functionality improvements to the user journey.

We have a very strong technology pipeline in the process of being implemented including localisation, mobile app applications and continued investments in AI and brand experience.

From a commercial perspective, FY21 saw the launch of free returns and important BNPL partnerships with Afterpay and Klarna all of which were supportive of both traffic and conversion.

We have continued to develop our robust supply chain, growing our supplier relationships since IPO. This is most evident by our available product selection, which has increased from 47 000 products at the time of IPO to about 87 000 products.

We have also commenced partnerships directly with luxury brand owners. This is something we have always seen as a natural evolution for us as a luxury platform and entirely complementary to our existing supply chain.

Cettire has continued to deliver high levels of customer satisfaction with thousands of positive reviews on Trustpilot. And I'm especially proud that these ratings have been maintained even during this period of hypergrowth.

Finally, it’s important to highlight the financial context in which we have delivered these exceptional results. Due to our capital light and highly automated business model Cettire has been cash

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Cettire Limited – ACN 645 474 166

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generative. With 47 million dollars in cash and no debt. Cettire effectively still has the full benefit of the IPO proceeds to capture the massive opportunity in front of us.

Technology priorities

Technology is at the core of our differentiation.

A key objective in pursuing the IPO was to secure funds to invest in our tech platform.

Prior to the IPO, most of our technology efforts have been focused on the heavy lifting back-end functionality of the platform. However, recently we have begun to step our investment in the frontend customer facing aspects.

In FY21 the presentation of the site has been significantly improved in order to position the platform as a top tier luxury destination. We have also enhanced client-side functionality with features like advanced product filtering and search to make our products more accessible to our end customers.

The transition to the new storefront software creates a huge opportunity to further localise our proposition by adding new languages, currencies and payment features all of which will be supportive of traffic and conversion over time. We are well advanced in our migration to the new storefront and will be continuing to migrate traffic over to the new storefront in the coming months.

To summarise, our technology priorities for the coming year are as follows:

• Transitioning to our proprietary ecommerce storefront

• Localising our proposition to enhance our global presence

• Developing mobile applications

• Further enhancements to Cettire’s brand and user experience

• And continued investment in AI

Growth strategy and initiatives

Our FY21 results clearly showed the benefits from the focused execution of our long term growth strategy. This slide outlines the 6 key levers of this growth strategy and the initiatives in place to deliver results.

Having rapidly grown customer numbers, we will continue to maintain momentum in customer acquisition and retention through accelerated marketing spend to drive traffic to our platform. And we will continue to grow awareness of Cettire through selective brand investment.

While we already have a broad network of suppliers and strong supply chain we will continue to focus on expanding it, whilst also selectively exploring further brand partnerships.

We have a comprehensive pipeline of technology initiatives that we have touched on earlier in the presentation that will support our global growth strategy and rapid scaling.

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Cettire Limited – ACN 645 474 166

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Lastly, while our total addressable market is already massive, we will look to make it even larger through selectively exploring new adjacencies, like the children’s wear segment we recently launched.

FY22 trading update and outlook

Our growth momentum has continued into FY22 and the year has started strongly.

For the first four months of the fiscal year:

• Gross revenue increased +184% year-on-year

• Sales revenue increased +172% year-on-year

• Active customers increased by 220% year-on-year to approximately 158,000

We see significant market penetration opportunities ahead, and given the size of the opportunity, we will continue to operate Cettire to maximise overall revenue growth.

Our strong balance sheet provides us with the flexibility to pursue our focused growth strategy, and we will be investing in customer acquisition, technology enhancements, and further building our organisational capability

We are experiencing strong traffic growth on the back of successful execution of our marketing initiatives and customer acquisition investment. Traffic for the period July to October increased by 231% and in October, traffic increased by 379% year-on-year. At the same time we will seek to balance traffic growth and conversion rate improvements with a view to maximising overall revenue.

Closing remarks

Firstly, I would like to thank the Cettire team again for their relentless focus and effort.

I would also like to sincerely thank our customers, our suppliers our shareholders and all of our other partners for their support through the year. I am immensely proud of our progress to date, but even more excited by the market opportunity ahead of us and the potential of Cettire’s platform.

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Cettire Limited – ACN 645 474 166

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2 0 2 1 A N N U A L G E N E R A L M E E T I N G 1 8 N O V E M B E R 2 0 2 1

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C H A I R M A N ’ S A D D R E S S

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PRIVATE & CONFIDENTIAL

GLOBAL ONLINE LUXURY RETAILER

THE COMPANY IN NUMBERS

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Selection Customers Economics
~158,000 Active
~200,000 products [1] 37% Product Margin [2]
Customers [3]
~21m unique website
~1,700 brands [1] $723 Average Order Value [2]
visits [3]
40% of Gross revenue
>90% international
~$700m stock value [1] from returning
revenue [2]
customers [2]
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1. Total database of products and brands that Cettire has access to via its contracted supply network as at August 2021 2. FY21 reported metrics

2. 12 months to October 2021

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CETTIRE

ONE OF THE LARGEST SELECTIONS OF LUXURY ONLINE… CETTIRE OFFERS COMPETITIVE PRICING AND RAPID FULFILMENT, ENABLED BY ITS HIGHLY SCALABLE PROPRIETARY TECHNOLOGY

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RANGE
RAPID FULFILMENT
VALUE
PROPRIETARY TECHNOLOGY
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Customer value proposition

Key enablers

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F O U N D E R & C E O ’ S A D D R E S S

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PRIVATE & CONFIDENTIAL

FY21 WAS A MILESTONE YEAR FOR CETTIRE

DELIVERING ON THE POTENTIAL

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Launch of Launched
Free proprietary
Returns, Upgrade to e-commerce
BNPL Prospectus storefront
IPO on ASX partnerships forecasts software
(Dec-20) (Feb-21) (June-21) (Aug-21)
Interim Upgrade to Children’s Full year
results – 67k Prospectus wear results –
active forecasts category ~115k active
customers (May-21) expansion customers
(Feb-21) (June-21) and
commenced
direct brand
partnerships
(Aug-21)
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SIGNIFICANT OUTPERFORMANCE VERSUS PROSPECTUS FORECAST

Web traffic

Conversion rate

Active customers[2]

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+266%
13.9m
vs pcp
10.2m
3.8m
FY20 FY21 PF 3 FY21
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+24% vs
pcp
1.22%
1.14%
0.99%
FY20 FY21 PF 3 FY21
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+285% 114.8k
vs pcp
29.8k
FY20 FY21
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Gross revenue[1]

Sales revenue

Product margin

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+304% +307%
vs pcp vs pcp
$92.4m
$70.0m
$33.8m
$24.4m
$22.9m
$8.3m
3 3
FY20 FY21 PF FY21 FY20 FY21 PF FY21
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+333%
$124.5m
vs pcp
$89.1m
$28.7m
3
FY20 FY21 PF FY21
1.
2.
3.
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Note: all growth metrics represent year on year growth vs FY20

1. Cettire uses gross revenue as a non-IFRS measure of business performance and represents revenue prior to returns and allowances

2. Active Customers are unique customers who have made a purchase in the last 12 months

3. The prospectus forecast is contained in the Cettire Limited Prospectus lodged with ASIC on 27 November 2020. Refer to the Prospectus for detailed information on the FY21 full year forecast and on the general and specific assumptions used in preparing the financial forecast including those set out in section 4.9 of the Prospectus

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OPERATIONAL HIGHLIGHTS – FY21

Enhancements to customer proposition and technology

• Proprietary e-commerce storefront solution launched

• Substantial UI/UX improvements

• Free returns and BNPL partnerships – supports conversion

170k Orders +353%

• Children’s wear category expansion – grows addressable market

• Customer ratings on TrustPilot and repeat order rate remain exceptional through rapid scaling (+353% orders growth)

• Strong tech pipeline – storefront implementation, localisation, mobile app, AI, UX and brand experience in focus

40% Gross revenue[1] from repeat customers

Continued growth in online product range and broadening of supplier base

• Deep and diverse supply relationships – additional suppliers added since IPO

• Commenced direct brand partnerships

• Published in-stock products on platform increased to ~87k[2 ] vs ~48k at IPO

• Scope to further add to SKU depth

Well capitalised for growth

• Strong balance sheet with $47m net cash

• Capital light, cash generative business model - $13m operating cash flow

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1. Cettire uses gross revenue as a non-IFRS measure of business performance and represents revenue prior to returns and allowances 2. As at August 2021

Trust Pilot Rating[2]

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~87k Published in-stock products on platform[2]

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NEAR TERM PRIORITIES FOR TECHNOLOGY INVESTMENT

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GROWTH STRATEGY AND INITIATIVES

WE ARE EXECUTING ON OUR LONG-TERM GROWTH STRATEGY

GROWTH LEVER

Acquire and retain customers

• INITIATIVES • Further accelerate marketing spend to drive traffic

• New channels e.g. new paid marketing channels

Grow awareness via brand investment Broaden and deepen supply

Increase accessible products

• Selected investment

• Targeted in niches

• Focus on SKU depth

• Continued development of select direct brand partnerships

• Grow published in-stock product count

• Transition to proprietary e-commerce storefront

• Localisation

• Enhance technology platform • Mobile app • Brand and UX enhancements • AI

• Increase TAM via adjacencies • Selectively explore new adjacencies

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FY22 TRADING UPDATE AND OUTLOOK

• Our positive trading momentum has continued into FY22, with:

• Gross revenue increasing 184% on the pcp[1, 2]

• Sales revenue increasing 172% on the pcp[1, 2]

• Active customers of ~158,260, an increase of 220% since 31 October 2020[2]

• We see significant market penetration opportunities ahead, and given the size of the opportunity, we will continue to operate Cettire to maximise overall revenue growth

• We are experiencing strong traffic growth on the back of successful execution of our marketing initiatives and customer acquisition investment. Traffic for the period July to October 2021 increased by 231% year on year. In October, monthly traffic increased 379% year on year. We will seek to balance traffic growth and conversion rate improvement with a view to maximising overall revenue.

• Our strong balance sheet provides us with the flexibility to pursue our focused growth strategy, and we will be investing into customer acquisition, technology enhancements, and further building our organisational capability to underpin Cettire’s growth trajectory in FY22 and beyond.

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1. Growth rate versus 4 months to 31 October 2020

2. Unaudited figures

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IMPORTANT NOTICE AND DISCLAIMER

The information contained in this document and discussed at this presentation (collectively, the Presentation) has been prepared by Cettire Limited (ACN 645 474 166) ( Cettire or the Company ). The Presentation is subject to the conditions outlined below. Your receipt or viewing of the Presentation evidences your acceptance of those conditions and that you agree to be bound by them.

NO OFFER OF SECURITIES

The Presentation is not a prospectus, product disclosure statement, disclosure document or other offer document under Australian law or under any other law. It does not and is not intended to constitute an offer for subscription, financial product advice, invitation, solicitation or recommendation by any person or to any person with respect to the purchase or sale of any securities or financial products in any jurisdiction, and also does not form the basis of any contract or commitment to sell or apply for securities in Cettire or any of its subsidiaries or related entities.

The information contained in the Presentation has been prepared without taking account of any person's investment objectives, financial situation or particular needs and nothing contained in the Presentation constitutes investment, legal, tax or other advice. You must not rely on the Presentation, and must make your own independent assessment and rely upon your own independent taxation legal, financial or other professional advice.

FINANCIAL DATA

All information in the Presentation is in Australian dollars unless otherwise stated. Financial data calculating totals and percentages may be subject to rounding.

The Presentation contains certain pro forma and non-IFRS financial information. Such financial information has not been prepared in accordance with disclosure requirements of applicable accounting standards and other mandatory reporting requirements in Australia.

FORWARD LOOKING STATEMENTS

The Presentation contains certain forward looking statements, including estimates, projections and opinions ( Forward Looking Statements ). We use words such 'will', 'may', 'intend', 'seek', 'would', 'should', 'could' 'continue' 'plan', 'probability', 'risk', 'forecast', 'likely', 'estimate', 'anticipate', 'believe', or similar words to identify Forward Looking Statements. Forward Looking Statements may involve known and unknown risks and uncertainties and other factors, many of which are beyond the control of Cettire, and have been made based upon management's expectations and beliefs concerning future developments and their potential effect on Cettire. No representation is made or will be made that any Forward Looking Statements will be achieved or will prove correct. Actual future results and operations could vary materially from the Forward Looking Statements. Circumstances may change and the contents of this Presentation may become outdated as a result. Cettire is not obliged to update such outdated information.

PAST PERFORMANCE

Past performance information given in this presentation is given for illustrative purposes only and should not be relied upon (and is not) an indication of future performance.

DISCLAIMER

The information in the Presentation is supplied in summary form and is therefore not necessarily complete, and does not contain all information that would be relevant to an investor. The material contained in this Presentation may include information derived from publicly available sources that have not been independently verified. No representation or warranty is made as to the accuracy, completeness, fairness or reliability of the information in this Presentation, or the of the opinions and conclusions in it.

To the maximum extent permitted by law, Cettire and each of its subsidiaries and affiliates, and each of their respective directors, employees, officers, partners, agents and advisers, and any other person involved in the preparation of the Presentation disclaim all liability and responsibility (including without limitation, any liability arising from fault or negligence) for any direct or indirect loss or damage which may arise or be suffered through use or reliance on anything contained in, or omitted from, the Presentation. Cettire accepts no responsibility or obligation to inform you of any matter arising or coming to its notice, after the date of the presentation or this document, which may affect any matter referred to in the Presentation.

This Presentation should be read in conjunction with Cettire's other periodic and continuous disclosure announcements lodged with the ASX, which are available at www.asx.com.au.

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G L O B A L O N L I N E L U X U R Y R E T A I L E R W W W . C E T T I R E . C O M