FLEXIROAM LIMITED — Investor Presentation 2021

Sep 2, 2021

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(ASX:FRX)

EMERGING TECH WEBINAR Marc Barnett, CEO

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SEPTEMBER 2021

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Creating a connected world…

for anyone, on any device, anywhere, on any network, at any time

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Early adopter of eSIM technology

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One of the 10 worldwide Apple certified Global Service Providers

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Enterprise grade IoT solutions

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…with instant access to 580+ mobile networks worldwide

1

Attractive Business Model

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Global network of partners and customers

Spanning 580 network operators, 200 countries and territories worldwide

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Asset-light

No upstream mobile network infrastructure ownership

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Long-term recurring revenue

Connectivity solutions yield recurring revenue streams

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Digital value chain

Ability to scale rapidly with high cost efficiencies

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Early adopter of eSIM technology

One of the 10 worldwide Apple certified Global Service Providers

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No physical SIM cards required

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Faster connectivity and more secure encryption

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Easy one-time setup at your fingertips with Flexiroam X app

Get instant access to 580 telecommunication network providers worldwide

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eSIM Smartphone Connections by 2025

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50%
2.8Bn
40% 40%
Smartphones by 2025
30%
20%
10%
0%
2019 2020 2021 2022 2023 2024 2025
Percentage of total smartphone connections (install based) globally
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https://www.techradar.com/sg/news/global-esim-adoption-to-reach-34bn-by-2025

Leadership Team

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Marc Barnett

CEO & Executive Director

Prior to joining Flexiroam, Marc was the Chief Executive Officer of video-ondemand service iflix, until its acquisition by Tencent in 2020. Marc accelerated iflix's growth to deliver 50 million app downloads, rapidly expanding the business to 32 markets spanning Asia, Middle East & Africa. Marc has also held senior leadership roles at Microsoft, Mi9 and ninemsn and was was named the Australian Financial Review Boss Magazine ‘Young Executive of the Year’ in 2014.

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Joost Cordes

Chief Revenue Officer

Prior to joining Flexiroam, Joost was the regional business head for Tata Communications connected automotive solutions in Europe. In this role he generated new business with European car manufactures. Before joining Tata communications, Joost was Manager Global Sales at Truphone where he led a team of senior international new business account managers and prior to this held senior sales positions at Canon and Xerox .

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Lina Nanik Harjani

Chief Financial Officer

Lina was Regional Head of Finance for DSG (subsidiaries of Unicharm), responsible for Malaysia, Indonesia and Singapore. Prior to that, Lina held senior business partnership roles in some global multinational companies such as Nestle, British American Tobacco, and Fonterra. Her main strength is driving business transformation with strategic and operational focus. Lina has a Masters Degree from IPMI Business School, Indonesia.

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Jef Ong

CIO & Executive Director

Jef Ong is the Founder and Chief Innovation Officer of Flexiroam. During his 15 years in the telecommunications industry, Jef successfully cofounded three different technology-based companies. During his leadership, Flexiroam listed on the Australian Securities Exchange in 2015. With Jef at the helm, Flexiroam netted numerous awards, including the World Travel Award and ASEAN Outstanding Business Award.

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Michael King

Chief Technology Officer

Michael joins 1[st] January 2022 and is currently VP of Engineering at Infobip, a global leader in omnichannel mobile communication. Michael brings a wealth of global product technology leadership experience, having led teams across the US, Europe and Asia. Michael has expertise in high availability cloud platforms and enterprise software products in a variety of verticals, as well as extensive experience leading agile, cloud and cultural transformations.

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Jon Gregory

Chief Operating Officer

Jon was Global Operations Director at iflix, where he successfully built operations across 15 countries in Asia, MENA and Sub-Saharan Africa. During his tenure he managed key commercial partnerships, optimised iflix’s cost structure and improved processes to enable the business to scale globally. Jon has more than 10 years of operations, project management, business development and recruitment experience, across multiple industries in Europe and Asia.

4

Operating in rapidly growing markets

FLEXIROAM TRAVEL

The global roaming market is expected to reach USD 88.9 billion by 2027 growing with a CAGR of 4.5%*

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FLEXIROAM SOLUTIONS

The global Internet of Things (IoT) market is expected to reach USD 1.6 trillion *by 2025

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CONNECTED CARS

SMART HOMES

M2M

1.2b devices

350m devices 166m devices

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WEARABLES

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1.1b devices
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*Sources: https://www.grandviewresearch.com/industry-analysis/global-roaming-tariff-market https://www.statista.com/statistics/976313/global-iot-market-size/

5

The Flexiroam Revenue Model

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$$ Cash collected
upfront
580 Telecommunication
Network Providers Worldwide
Downloadable
onto devices
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Monthly Recurring
revenue
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Preloaded at manufacturing level

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REVENUE MODEL

• Fully digital supply chain. Reduced inventory and distribution cost

• Receive cash upfront, pay for usage only when customers utilise data

• Certified provision into devices via manufacturers

• Recurring revenue from enterprise customers with low churn rate (machine lifetime > 10 yrs)

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Solutions – Key Functionalities

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Single Global Reach & Control of Flexible Policy Brand Global SIM Dependability Mobile Bundles Controls Extension Across 200 Leverage Flexiroam’s Create, define and Mobile contracts Setting your brand countries and global network control your own and telecom policies name as the network territories and bundles can be arranged on name on the device 580+ networks a global level

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Network

Independence Thanks to smart SIM technology enabling registration on any available network

Greater Enterprise-grade High-quality user Usage Reliability Security experience Insights Multiple mobile Private APNs and/or 24x7 Support and Understanding data networks available VPNs possible to handling data closest utilisation and usage in most countries secure, private access to the user to enhance behavior to your applications the customer experience

Partnerships to drive global penetration

• Expanding social presence through support of numerous Olympic medalists with substantial social media presence, positioning Flexiroam for further partnership opportunities with sports associations

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• Doubled the number of banks onboarded to Flexiroam data privileges from 11 to 23 banks through Mastercard APAC partnership

• A leading ASEAN payment service payment provider

• Deal expanded from only Malaysia to whole of South East Asia

• Renewed international connectivity agreement for all Korean air crew members

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• Major payment industry service provider in Malaysia and South East Asia including Starbucks stores across Malaysia. Flexiroam service in over 6% of all merchant stores.

• Rapidly expanding mPOS business, which delivered annual revenue of $14m, in 2020, with Cambodia and Myanmar as key for regional expansion

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• Flexiroam service deployed in over 6% of all merchant stores and growing

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8

Flexiroam Travel: Increasing Active (+8% YoY) & Paying Users (+111% YoY) Overall ARPU increased to A$59

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New Subscribers Active Users Paying Users
+42%
+8%
6,997 +111%
4,716 4,689 6,493
5,845 2,970
2,377
3,303
1,409
Aug-20 Sep-20 Dec-20 Mar-21 Jun-21 Aug-21 Aug-20 Sep-20 Dec-20 Mar-21 Jun-21 Aug-21 Aug-20 Sep-20 Dec-20 Mar-21 Jun-21 Aug-21
ARPU (A$) eSIM Activation Wallet Credit (A $m) No of users Credit Balance
+32% 59 +202% 20,000 18,000 +8% 0.50M 0.51M0.50M
49 53 54 57 698 843 16,000 14,000 12,000 0.47M 0.49M0.48M
0.47M
44 10,000
0.46M
8,000
279 0.45M
6,000
4,000 0.44M
2,000 0.43M
- 0.42M
Aug-20 Sep-20 Dec-20 Mar-21 Jun-21 Aug-21 Aug-20 Sep-20 Dec-20 Mar-21 Jun-21 Aug-21 Aug-20 Sep-20 Dec-20 Mar-21 Jun-21 Aug-21
Data Utilisation (TB) Data Usage per user (GB) T10 Country by Data Usage (Aug-21)
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Data Usage per user (GB)
+180%
1.2
0.9
0.4
Aug-20 Sep-20 Dec-20 Mar-21 Jun-21 Aug-21
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Data Utilisation (TB)
+216% 8.6
5.3
2.7
Aug-20 Sep-20 Dec-20 Mar-21 Jun-21 Aug-21
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USA
Egypt
Turkey
Spain
France
UAE
Germany
Italy
UK
China
contributes to 63% of total usage
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9

Note: All graphs above reflect monthly data

Disclaimer

This presentation has been prepared by FLEXIROAM Limited (the “Company”). It does not purport to contain all the information that a prospective investor may require in connection with any potential investment in the Company. You should treat the contents of this presentation, or any information provided in connection with it, as financial advice, financial product advice or advice relating to legal, taxation or investment matters.

No representation or warranty (whether express or implied) is made by the Company or any of its officers, advisers, agents or employees as to the accuracy, completeness or reasonableness of the information, statements, opinions or matters (express or implied) arising out of, contained in or derived from this presentation or provided in connection with it, or any omission from this presentation, nor as to the attainability of any estimates, forecasts or projections set out in this presentation.

This presentation is provided expressly on the basis that you will carry out your own independent inquiries into the matters contained in the presentation and make your own independent decisions about the affairs, financial position or prospects of the Company. The Company reserves the right to update, amend or supplement the information at any time in its absolute discretion (without incurring any obligation to do so).

Neither the Company, nor its related bodies corporate, officers, their advisers, agents and employees accept any responsibility or liability to you or to any other person or entity arising out of this presentation including pursuant to the general law (whether for negligence, under statute or otherwise), or under the Australian Securities and Investments Commission Act 2001. Corporations Act 2001, Competition and Consumer Act 2010 or any corresponding provision of any Australian state or territory legislation (or the law of any similar legislation in any other jurisdiction), or similar provision under any applicable law.

Any such responsibility or liability is, to the maximum extent permitted by law, expressly disclaimed and excluded.

Nothing in this material should be construed as either an offer to sell or a solicitation off an offer to buy or sell securities. It does not include all available information and should not be used in isolation as a basis to invest in the Company.

Forward Looking Statements

This presentation contains reference to certain intentions, expectations, future plans, strategy and prospects of the Company (“Forward-Looking Statements”. Those Forward-Looking Statements may or may not be achieved. They are based on certain assumptions, which may not be met or on which views may differ and may be affected by known and unknown risks.

The performance and operations of the Company may be influenced by a number of factors, many of which are outside the control of the Company. No representation of warranty, express or implied, is made by the Company, or any of its directors, officers, employees, advisers or agents that any intentions, expectations or plans will be achieved either totally or partially or that any particular rate of return will be achieved. Given the risks and uncertainties that may cause the Company’s actual future results, performance or achievements to be materially different from those expected, planned or intended, recipients should not place undue reliance on these Forward-Looking Statements. The Company does not warrant or represent that the actual results, performance or achievements will be as expected, planned or intended.

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Get in touch with us

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marc@flexiroam.com www.flexiroam.com Kuala Lumpur, Malaysia

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