GENTRACK GROUP LIMITED — AGM Information 2016

Feb 24, 2016

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25 February 2016

Gentrack Group Limited (NZX/ASX: GTK) Annual Meeting of Shareholders – CEO presentation

Please find attached a copy of the CEO presentation that will be delivered at Gentrack Group Limited’s annual meeting of shareholders today at 4pm in Auckland.

ENDS

Contact details regarding this announcement:

Jon Kershaw

Company Secretary

+64 9 966 6090

About Gentrack

Auckland-based Gentrack is a developer of specialist software for energy utilities, water companies and airports around the world. It employs over 200 people in offices in Auckland, Melbourne and London and services utility and airport sites across four continents. Gentrack is comprised of two leading software products - Gentrack Velocity and Airport 20/20. Gentrack Velocity is a specialist billing and CRM product designed for energy utilities and water companies in competitive and regulated utilities markets. Airport 20/20 is a comprehensive Airport Operational System engineered to optimise an airport’s operations through intelligent collaboration, streamlining airport information flows and transforming the passenger experience.

Gentrack Group Ltd | www.gentrack.com | info@gentrack.com | ARBN 169 195 751

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THE SOFTWARE OF INFRASTRUCTURE_

• F Y 1 5 I N R E V I E W • JA M ES D O C K I N G _

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2015 FOCUS_

THE SOFTWARE OF INFRASTRUCTURE_

AIRPORTS

• Build on the successes to date with specific focus on Collaborative Decision Making and Passenger Flow systems as part of our next generation integrated Airport software suite.

UTILITIES

• MAINTAIN < Mature NZ Market – look after existing customers. Establish strategic development partnerships around new innovations. Secure upgrades to Velocity 4

• SECURE < Strong AU Market – capture opportunities in Retail Energy, Energy Networks, Smart Metering and Water companies. Secure upgrades from existing utilities sites

• GROW < High Growth UK Market – keep up with many opportunities in Energy and Water Utilities. Build local resource to support UK customers. Grow Gentrack’s share of this large market.

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FY15 HIGHLIGHTS_

THE SOFTWARE OF INFRASTRUCTURE_

• Secured 5 new airports and utilities customers in our core regions

• Commenced Gentrack’s largest water utilities software project in the UK

• Commenced 6 new upgrade projects including our largest contract to date

• Successfully took 8 Velocity and Airport 20/20 systems into Live operation

• Worked on 22 significant Velocity and Airport 20/20 software projects

• Expansion of the UK office has continued with new premises located for 2016

• First significant 20/20 A-CDM project completed in New Zealand.

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2015 RESULTS_

Revenue NZ$m

EBITDA NZ$m

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50.0 20.0
40.0 44.7
15.0
38.5 42.1 15.5
30.0 14.5
13.0
10.0
20.0
5.0
10.0
0.0 0.0
2014 2015 2015 PFI 2014 2015 2015 PFI
NPAT NZ$m Cash NZ$m
10.0 14.0
12.0
9.3
8.0 9.4
10.0 12.4
10.7
6.0 8.0
6.0
4.0
4.0
5.2
3.4
2.0
2.0
0.0 0.0
2014 2015 2015 PFI 2014 2015 2015 PFI
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10.0
9.3
8.0 9.4
6.0
4.0
3.4
2.0
0.0
2014 2015 2015 PFI
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• Project delays and delivery challenges saw revenues NZ$2.6m below prospectus forecast

• Operating expenses increased by 8.3% which is below the revenue growth rate

• FX gains and lower tax costs meant net profit slightly above prospectus forecast

• The forecast final dividend of NZ$7.20 cps or NZ$5.2m was paid in December 2015.

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DIVISIONAL ANALYSIS_

Utilities

Revenue x Sector

Energy Water Airports Other 1% 15% 14% 70%

• Utility revenue grew by a modest 8.1% as we worked hard to secure and progress two major utility contracts which are being delivered over FY15 and FY16

• Airports had a strong year growing revenues by 15.7% and exceeding $2.0m EBITDA for the first time.

Revenue NZ$m

EBITDA NZ$m

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40.0 33.0 35.6 14.0 11.9 12.5
12.0
30.0
10.0
8.0
20.0
6.0
4.0
10.0
2.0
0.0 0.0
2014 2015 2014 2015
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Airports

Revenue NZ$m

EBITDA NZ$m

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7.0 6.5 2.5
2
6.0 5.5
2.0
5.0
1.5
4.0 1.1
1.0
3.0
2.0 0.5
1.0 0.0
0.0 2014 2015 2014 2015 5
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GEOGRAPHIC ANALYSIS_

Revenue x Region

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Australia New Zealand UK ROW
7%
17%
52%
24%
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Revenue NZ$m

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25.0
20.0
15.0
2014 2015
10.0
5.0
0.0
New Zealand Australia UK Rest of World
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• New Zealand revenues were flat in Gentrack’s mature home market

• Australian revenues include contributions from two large upgrade projects

• Strong continued UK revenue growth of 44% in FY15 in Utility and Airports

• Rest of World income benefited from a software licence sale to an existing customer in Asia.

Australia and the UK continue to be the focus for Gentrack’s growth

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PRODUCT ANALYSIS_

Revenue x Product

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Licences Project Services Support Services
Recurring Fees Other
1% 8%
31%
28%
32%
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0.4
0.4 3.5
3.4
11.6
8.9
13.6
14.0
11.8 13.0
2014 2015
Recurring Fees Support Services Project Services
Licence Fees Other
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• Recurring Fees grew by 10.1% and continues to provide a solid income base

• Services income reflected the strong project cycle with Project Service Fees growing by 30.2%.

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STAFF_

September Headcount

Staff x Office

Staff x Role

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250.0 216
184
200.0
150.0
100.0
50.0
0.0
2014 2015
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Auckland Melbourne London Admin Sales/Marketing
14% 8%
6%
24%
62%
86%
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Admin Sales/Marketing Technical
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• Started 51 new technical and business resources

• Year end headcount grew by 12.5%

• Personnel costs for the year increased by 10.1%

• Retention was satisfactory with a departure rate of less than 11%

• We are currently recruiting in Auckland, Melbourne and London.

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TRACK RECORD_

Revenue

EBITDA

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45.0
40.0
42.1
40.1
35.0 38.5
34.3
30.0 32.2
25.0
25.9
20.0 23.6
15.0
10.0 5yr CAGR = 10.2%
5.0
0.0
2009 2010 2011 2012 2013 2014 2015
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16.0
14.0
14.5
14.0
12.0 12.9
11.8
11.4
10.0
8.0
8.6
7.8
6.0
4.0
5yr CAGR = 10.9%
2.0
0.0
2009 2010 2011 2012 2013 2014 2015
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The 5 year CAGR was maintained at better than 10% in both Revenue and EBITDA

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THE SOFTWARE OF INFRASTRUCTURE_

INTRODUCTION TO IAN BLACK, CEO_

• Started in January 2016

• Extensive background in technology and software

• International Career – CEO (SAP NZ) and COO (SAP Australia and NZ)

• More recently involved in innovative start ups and SaaS businesses in New Zealand.

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THE SOFTWARE OF INFRASTRUCTURE_

C EO ’ S A D D R ES S • I A N B L AC K _

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FY16 SNAPSHOT_

• Gentrack is expecting to meet its FY16 objectives

• Large projects already underway underpin the project revenues

• New contract recently signed with Isavia for Airport 20/20

• Sufficient additional bids and proposals are in progress and Gentrack is well placed

• We are actively recruiting to keep up with opportunities particularly in support of the Australian and UK markets.

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LEADING GENTRACK INTO THE FUTURE_

• Gentrack is a business with a strong foundation and a history of success – it’s in good shape both financially and operationally

• A position built on being specialists and experts in software for utilities and airports and we plan to continue selling to our core strengths

• The market opportunities are significant – but require focus to grow our share

• We are currently undertaking work to ensure we have a clear view of the growth opportunities in our chosen markets. This work will inform:

• Our development roadmap for solutions

• Our process and organisational needs

• Our learning and development activities.

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FY16_

• Strong first half FY16

• Revenue and EBITDA expected to be 20% up on half-year FY15

• FY16 Full Year - in line with November 2015 guidance

• 10% + revenue growth in line with long term

• Investment in staff and systems reduces margins

• Expect EBITDA to be in line with FY15

• Project timing will impact results.

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