JAYRIDE GROUP LIMITED — Earnings Release 2021

Aug 25, 2021

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GAINING MARKET SHARE IN THE GLOBAL TRAVEL RECOVERY FY21 Results Presentation

Rod Bishop, Managing Director Peter McWilliam, CFO 26th August 2021

The world–leading global airport transfers marketplace

ASX release authorised by Rod Bishop, Managing Director, Jayride Group Limited

Jayride Group (ASX:JAY) www.jayride.com

GAINING MARKET SHARE IN THE GLOBAL TRAVEL RECOVERY

Accelerating growth driven by ongoing recovery in Northern Hemisphere travel.

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We are delighted to report growth is accelerating as the recovery in Northern Hemisphere travel markets continues to gather pace.

Passenger trips grew 83% in Q4 vs prior quarter; 208% higher than in Q2. June was the strongest month of the year with trips up 30% on May. Starting FY22, July is up 12% on June. Net revenue grew 79% in Q4 vs prior quarter. The ongoing global travel recovery is supporting this robust revenue growth and provides momentum as we enter FY22.

Over 85% of our revenues are coming from North America and Europe , we are in a strong position as these markets continue to reopen and recovery builds.

Most importantly, the strategies we put in place during the pandemic to enhance our leverage to recovery are working. We are winning market share . In July Jayride trips booked in Europe have already surpassed our pre-pandemic all-time-high – Jayride is now larger in Europe than ever before . Our focus on unrivalled service delivery, with technology enhancements to improve traveller experience and operating excellence, are driving lower cost customer acquisition, higher conversion and improved traveller retention.

The $11m equity capital raise conducted in June will provide funds for growth through key valuation inflection points: COVID recovery, Market Leadership and Cash Flow Positive. We have a once in a lifetime opportunity to win global market leadership within 12 months.

With our strengthened balance sheet, increased online penetration and a market expanded to record size, we are positioned to be a significantly larger and more profitable company compared to pre-pandemic.

– Managing Director, Rod Bishop

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2

RESULT SUMMARY RECOVERY CONTINUES

Strategies to improve efficiency, enhance traveller experience, and expand market share are delivering record Contribution Profit.

2H (vs 1H)

FY21 (vs FY20)

Passenger Trips Booked

73K Trips ▲ 133%

Net Revenue from Trips

$759K ▼ 77%

Net Revenues / Trip $7.50 /Trip ▲ 8.4%

[1]

$270K ▲ 700%

Contribution Margin Stand Still EBITDA[2] 42.6% ▲ 141% $(745)K ▲ 62%

Emerging from the pandemic with the Company’s strongest ever balance sheet.

1. Contribution Profit is Net Revenue minus all variable costs, including Cost of Customer Acquisition and Variable Operating Costs such as customer support.

2. Stand Still EBITDA is Profit after all operating costs of the Company, excluding the cost of long-term growth investments and capex.

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JAYRIDE OVERVIEW

Global travel recovery continues as vaccinations roll-out

Jayride is the world–leading global travel marketplace for airport transfers

Key Facts

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Covering 95% of World’s largest catalogue world airport trips of ride-service brands $25M+ invested in Serving 490K trips per scaling tech platform year run-rate pre-COVID

• Jayride recovery accelerates 85%+ in northern hemisphere

• Record Contribution Profit and improved Stand Still EBITDA

• Building traveller retention with record service levels

• Continuing to deliver strategic priorities for long-term growth

• Set to capture market share through FY22

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COVID-19
98% CAGR recovery as
vaccinations
Six years to December 2019 continue to
roll-out
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The world’s leading travel brands and ride-service brands use Jayride

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TRIPS GROWTH ACCELERATING

Growth accelerates in Northern Hemisphere markets with vaccination programs and reopenings.

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83% growth Q4 FY21 Growth continues
vs prior quarter +12% July vs June
COVID-19
recovery
potential
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• Jayride core segment is leisure travellers on domestic and regional routes – this segment leads the recovery

• Jayride Trips in North America in June exceed CY19 PCP (102% of CY19 PCP)

• Jayride Trips in Europe in July are the largest ever recorded and growing, exceeding CY19 PCP and exceeding prior-all-time-highs

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2H FY21 PRIORITIES DELIVERED

Executing strategies to maximise market share: Traveller retention, conversion and acquisition.

Traveller retention “Improve the traveller experience”

Complete Ongoing Status

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Done

Grow member retention using the new membership system Done Enhance traveller self-service and customer service tools First release complete – continue in Q1 Traveller conversion “Enhance our offer for travellers” Redesign mobile booking website for travellers in the new normal Done Streamline search and booking workflow for mobile users Done Explore further traveller needs – service classes, vehicle-types, inclusions and extras Service types and vehicles launch in Q1 Traveller acquisition “Win market share” Grow travel brand partnerships with major online travel agencies Done Win new travel brand partnerships Done Capture new organic web traffic 10+ new countries launch in Q1

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MAJOR IMPROVEMENTS TO TRAVELLER OFFER

Jayride pre-booked rides offer the confidence of a door-to-door travel itinerary with high service and a consistent experience, worldwide.

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Enhancements to mobile
Vehicle types and at booking and travel
service classes
New release in Q1 FY22
First revenues in Q2 FY22
Travellers to select their
vehicle and service class
Inclusions and add-ons like
“COVID-19 Prepared Rides”
Member system for loyalty
and repeat booking
Traveller NPS of 54,
continues to increase
60,000+ Traveller Reviews
average 4.5/5.0
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7 Please refer to the disclaimer on forward looking statements on the final page of this presentation.

RETENTION IMPROVING WITH HIGH SERVICE LEVELS

Retaining travellers and travel brands at record rates through record service and flexible refund policies.

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Key Drivers of Retention Returning Travellers (%) Trips per Traveller (#)
Discover
Retain Book
Experience
● Best Experience!
● Best Customer Service
●
Best Refund Policy
● Best Track Record
●
COVID-19 Prepared
● Most Destinations 2H FY21 67% of Trips Booked by 2H FY21 9.9 Trips per Traveller,
● Most Choice Returning Travellers & Brands 59% increase over 2H FY20 PCP
8
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FINANCIALS

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INCOME STATEMENT FY21

Contribution Profits expand 700%. With cost savings Stand Still EBITDA increases by 62%.

Income Statement Summary

FY21 AUD(000's) FY20 AUD(000's) Movement PCP % Net revenue from Passenger Trips Booked 759 3,236 -77% Marketing and variable costs (489) (3,202)	FY21 AUD(000's) FY20 AUD(000's) Movement PCP % Net revenue from Passenger Trips Booked 759 3,236 -77% Marketing and variable costs (489) (3,202)
Contribution 270 34 +700% Other Income and Grants 857 559 Non variable operating and corporate costs (1,872) (2,568)
Stand Still EBITDA (745) (1,975) +62% Other Costs Growth costs (1,217) (1,617) Share-based payments (723) (1,456) Receivables provisioning (336) (49) Loss on disposal of plant and equipment (119) 0
Total other costs (2,395) (3,122) +23%
EBITDA (3,140) (5,097) +38% Depreciation and amortisation (excluding operating leases) (995) (1,411) Financing and other costs (353) (580)
Net proft before income tax (4,488) (7,088) +37%
Net proft after tax (4,488) (7,088) +37%
Contribution Margin from Passenger Trips Booked (1) 36% 1%
Stand Still EBITDA Margin from Total Revenues (2) -46% -52%

  - Net Revenues from Passenger Trips Booked in FY21 impacted by COVID-19, decrease 77% vs FY20

  - Contribution Profit Margin expand to 36% in FY21 delivering record Contribution Profit, up 700% vs FY20

  - Stand Still EBITDA in FY21 increases on sustainable savings in non-variable operating and corporate costs, up 62% vs FY20

  - Selected growth investment into platform to improve operating leverage and win market share

1. Contribution Profit is Net Revenue minus all variable costs, including Cost of Customer Acquisition and Variable Operating Costs such as customer support.

2. 10 2. Stand Still EBITDA is Profit after all operating costs of the Company, excluding the cost of long-term growth investments and capex.

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FY21 PERFORMANCE DASHBOARD

Trips, Revenues per Trip, and Contribution Margins improve. Growth potential towards breakeven Stand Still EBITDA.

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Trips have COVID-19 Net Revenue per Trip can
Onset of COVID Onset of COVID
recovery potential to above return to $10 level as
pre-pandemic levels refunds stabilise
[1]
Onset of COVID Onset of COVID
Breakeven Stand Still EBITDA
with 220K Trips at $10 per
trip and 50% margin
Contribution margin
progresses towards 50%
despite elevated refunds
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Stand Still EBITDA: (Passenger Trips Booked x Net Revenue per Trip x Contribution Margin) – Non-Variable and Corporate Costs.

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1. Non–Variable Operating and Corporate Costs includes all cash costs required to run at Stand Still Profit, excluding the cost of long-term growth investments and capex.

CONTRIBUTION PROFIT AT RECORD LEVEL

Record Contribution profit achieved with 300% recovery still ahead. Contribution Profit to scale as the global recovery continues.

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[1]
COVID-19
recovery
potential
Contribution
profit above
pre-pandemic
levels
Record Contribution profit achieved with 300% recovery still ahead.
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1. Contribution is Net Revenue minus all variable costs, including Cost of Customer Acquisition and Variable Operating Costs such as customer support.

CONTRIBUTION PROFIT OUTLOOK POSITIVE

Contribution profit margin expansion continues, and is set to continue further through fundamental improvements to the platform.

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[1]
Refund rates
returning to
historical levels
Contribution
profit margin on
track to 50%+
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1. Contribution is Net Revenue minus all variable costs, including Cost of Customer Acquisition and Variable Operating Costs such as customer support.

CASH FLOW WATERFALL

Jayride is investing to capitalise on long-term growth opportunities.

FY21 Growth investments of $(1,960)K

Stand Still operations

■ Receipts

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FY21 Stand Still operating
cash flow of $(642)K
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• Record Contribution above pre-pandemic

• ○ Receipts Movements returns to positive as company begins to rebuild cash float

• ○ Grants and stimulus received

■ Operational costs

• Significant enhancement to operational costs

• ○ Interest-bearing loan has been repaid in August

Growth investments

■ Funding for growth

• November 2020 Placement

• June 2021 Placement Tranche 1 (chart excludes Tranche 2 and SPP completed in August 2021)

■ Growth investments

Funded for long-term growth

• $3.04M of cash at 30th June 2021 includes Tranche 1 of June 2021 placement ($2.75M)

• $8.25M of funding from Tranche 2 of placement and Share Purchase Plan completed in August 2021

• $0.55M of grants are expected to be received over 1H FY22, including R&D Tax Incentive, Export Market Development Grant, and other grants

• Deploying funds to win market share in recovery, improve traveller experience and automate processes for improved contribution

■ Other costs

• One-off relating to office lease exit, and forex

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1. Stand Still operating cash flow is cash flow after all operating costs of the Company, excluding capital raises for future growth and the cost of long-term growth investments and capex.

OUTLOOK

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CY22 TO BE JAYRIDE’S LARGEST EVER MARKET

Jayride’s addressable market in CY22 exceeds pre-pandemic levels (6.5bn Trips). Jayride’s 2019 global rollout is retained to the recovery.

Tailwind

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69% YoY CY22 will be Long-term
growth in Jayride’s CAGR of
Jayride largest ever 3.9% from
markets market CY23
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• The market recovery is fast. Est. 69% YoY growth in CY22

• CY22 will be Jayride’s largest market ever (116% of CY19)

Strategy

• Target global regions as high volume travel corridors come online

• Capture step-changes and retain travellers by serving new traveller needs

• Develop channels and suppliers for high conversion rates

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1. Today Jayride covers airports that serve 95% of world airport passenger trips, in 2022 IATA forecast this to be 6.5bn trips. Jayride global roll-out in 2018-19 launched new airports around the world. In 2019, market access rose from 54% of world airport trips to 90%, an average of 72% for the year. 2019 total addressable market was an average of 7.8bn trips, with Jayride 16 market access to an average of 5.6bn trips. IATA forecast at https://www.iata.org/en/iata-repository/publications/economic-reports/an-almost-full-recovery-of-air-travel-in-prospect/.

JAYRIDE WINNING MARKET SHARE

Jayride’s recovery is outperforming the market with enhanced competitive position and ability to meet the traveller’s needs.

	JAYRIDE WINNING MARKET SHARE	JAYRIDE WINNING MARKET SHARE		Jayride’s with enh meet the	re an tr
	Decisions to improve earnings power		Jayride	Competitors
	Refunded travellers in full for cancelled travel at onset of COVID-19 Met obligations to transport companies at onset of COVID-19
	Retained key talent to develop core IP for future scale
	Public company with access to capital
	Efect on market position		Jayride	Competitors
	Retained transport companies on platform Winning new travel brand partnerships throughout 1H FY21
	Opportunities to leapfrog other brands and gain market share Stronger earnings potential in market recovery
		Jayride recovery
		outperformed US
		market recovery

Tailwind

• Jayride is outperforming the market

• 141% recovery at US airports vs Jayride’s 324% growth at US airports

• The competitive market is distressed and allows Jayride to win share

Strategy

• Win and retain share vs competition

• Unrivaled traveller service – set bar so high that competitors cannot match it

• Superior supplier coverage, traveller experience, service delivery, flexibility and refund guarantees

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A STRUCTURAL TREND TO BOOKING RIDES ONLINE

Increased take-up from large travel brands using Jayride to book rides online.

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Online penetration of rides is at an early stage compared to other travel verticals[1] .

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Long-term growth
potential
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More rides are being booked online as travellers’ needs change, led by large travel brands.

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Record pipeline of new travel brands: 12+ new brands signed with implementation in FY22

Booking.com and Expedia bookings with Jayride exceed pre-pandemic levels

Tailwind

• Online penetration jumped throughout the pandemic and is retained to the recovery

• Travellers need confidence, personal space, and are spending-up on private transfers

• Large travel brands are increasing their adoption of transfers

Strategy

• Win new travel brand partners with

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1. Statista.com online penetration by travel industry vertical % of revenue 2019, and management estimates

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Delivering on key milestones in long-term
LONG-TERM STRATEGIC
strategy to build the world’s leading
marketplace for traveller rides.
PRIORITIES DELIVERED
Previous Milestones Complete Latest Milestones Complete Jayride Vision
Jayride
Vision
Launch Launch First Launch “Low Cost Launch Complete global Demonstrate Door-to-door rides to suit
transport booking partners Aggregation” new global transport roll-out profitable unit every traveller’s needs
technology systems implement model for new transport to 95% of world economics with in every country, from
platform API Transport Supply platform airport trips high margin anywhere to anywhere
FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21
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UPCOMING PRIORITIES NEW TRAVELLER OFFERS

Part of our long-term product roadmap to build the world’s leading online marketplace for traveller rides.

Towards Jayride’s long-term product vision

Door-to-door rides to suit every traveller’s needs in every country, from anywhere to anywhere.

Jayride is launching new product offers for an expanded market opportunity

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Today Release in Q1 FY22 Long-term roadmap of new traveller offers
● Private and Shared ● New vehicle types ● Extras and ● Non-airport ● Last-minute ● In-destination
● Airport rides only ● New service classes Inclusions destinations bookings bookings
● Standard vehicles
and economy class Increased quotes and AOV Increased TAM, conversion, retention, and AOV for improved profitability
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20 Please refer to the disclaimer on forward looking statements on the final page of this presentation.

1H FY22 STRATEGIC PRIORITIES AHEAD

Win market share through enhanced traveller retention, conversion and acquisition with focus on Northern Hemisphere markets.

Traveller retention “Improve the traveller experience”

Complete Ongoing Status

Launch new product marketing initiatives to engage and retain travellers

Further enhance traveller self-service and customer service tools

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Traveller conversion “Enhance our offer for travellers”

Launch new vehicle types and service classes

Enhance supplier coverage and pricing in Northern Hemisphere destinations (especially Europe)

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Traveller acquisition “Win market share in the Northern Hemisphere”

Roll-out new vehicle types and service classes via API to new and existing travel brand partners

Northern Hemisphere business expansion to new travel brand partners

Northern Hemisphere SEO expansion to new destination markets

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21 Please refer to the disclaimer on forward looking statements on the final page of this presentation.

SUMMARY OUTLOOK

Summary

• Highest contribution, fastest revenue growth, and strongest balance sheet in company history

• Contribution profits reach record levels, above pre-pandemic levels, with further growth ahead

• Northern Hemisphere market expansion successful and accelerating

• Successful oversubscribed placement and SPP of $11M to invest in capturing market share

Positive Outlook

• Q4 FY21 momentum has carried forward into Q1 FY22 – Strong start to new FY with July trips up 12% on June

• Jayride US trips above pre-pandemic PCP in June; Jayride EU trips above pre-pandemic all-time-highs in July

• Fully-funded plan to deliver a world-class traveller experience and new product offers

• Well placed to benefit from continued successful vaccine roll-out and border reopenings

• Three key recovery drivers: COVID-19 recovery / enhanced competitive position / structural trend to online

• Positioned to be a much larger and more profitable company than Pre-COVID

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INVESTMENT PROPOSITION

Jayride is a growth company with a proven record at building profitable revenue in a huge and recovering global market.

A Global Leader

• Jayride is a global leader in rides for travellers as part of the global online travel industry

• More ride service companies, and more traveller reviews than any other website. NPS of 56

• Travel brands choose Jayride to turn–key a global ride service offer

B2C and B2B Business

• Building the traveller’s trusted transfers brand at Jayride.com

• Mobile website for travellers to book rides around the world

• Delivering a turn–key solution for travel brands to add airport transfers and make every travel experience truly “door–to–door”

A Key Strategic Asset

• The leading catalog of ride service suppliers for the global travel industry, this asset has strategic value to the world’s largest travel brands

• Through building unbeatable dominance in supply, Jayride has built a defensible and strategic travel technology asset

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Retain travellers with world–leading door–to–door travel experience and service

Clear strategy

Recovery tailwinds

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Convert travellers Acquire travellers As vaccinations Opportunity to An accelerating trend to book with the and share through roll-out, Jayride’s capture share in a to online booking. best selection that travel brand existing travellers distressed competitive Travellers can build simply works, partnerships and return in existing landscape their confidence everywhere organic search destinations online

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ABOUT JAYRIDE GROUP

Jayride.com is the world’s leading publicly listed airport transfers marketplace, where travellers compare and book rides around the world. With Jayride.com, travellers can compare and book with 3,700+ ride service companies, servicing 1,600+ airports in 109 countries around the world, including the Americas, Europe, Middle East, Africa, Asia and the Pacific.

The Jayride.com platform aggregates ride service companies and distributes them to travellers at Jayride.com; and via travel brand partners including other technology platforms, travel agencies and wholesalers. These travel brands implement Jayride

Founded in 2012, Jayride.com is headquartered in Sydney, Australia.

For more information, please visit www.jayride.com

Disclaimer

This announcement contains forward–looking statements that involve risks and uncertainties. Indications of, and guidelines or outlook on, future earnings, distributions or financial position or performance and targets, estimates and assumptions in respect of production, prices, operating costs, results, capital expenditures, reserves and resources are also forward–looking statements. These statements are based on an assessment of present economic and operating conditions, and on a number of assumptions and estimates regarding future events and actions that, while considered reasonable as at the date of this announcement and are expected to take place, are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies. Such forward–looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company, the directors and management. We cannot and do not give any assurance that the results, performance or achievements expressed or implied by the forward–looking statements contained in this announcement will actually occur and readers are cautioned not to place undue reliance on these forward–looking statements. These forward–looking statements are subject to various risk factors that could cause actual events or results to differ materially from the events or results estimated, expressed or anticipated in these statements.

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APPENDIX

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BALANCE SHEET FY21

Jayride is resourced to capitalise on the significant market opportunity following $11M placement and SPP.

Balance Sheet Summary

• $3.04M of cash at 30th June 2021 includes Tranche 1 of June 2021 placement ($2.75M)

		30-Jun-2021	30-Jun-2020	Movement PCP	Movement PCP	●$3.04M	of cash at 30t
Current assets		AU$(000's)	AU$(000's)	AU$(000's)		of June 2021 placeme
Cash and cash equivalents Trade and other receivables		3,042 644	963 1,443		2,078 (799)	●$8.25M of funding fro
Grants receivable		338	701		(363)	Share Purchase Plan c
Prepayments		190	69		121
Total current assets		4,214	2,501		1,712
Non-current assets
Jayride website and technologies		2,180	2,344		(164)
Other non current assets		41	405		(364)
Total non-current assets		2,221	2,749		(528)
Total assets		6,435	5,250		1,185
Current liabilities
Trade and other payables		1,714	1,641		73
Borrowings		1,889			1,889
Future transport supplier payments		341	188		153
Lease liability		0	338		(338)
Other current liabilities		253	390		(138)
Total current liabilities		4,197	2,558		1,639
Non-current liabilities
Borrowings			1,745	(1,745)
Other non-current liabilities		41	21		20
Total non-current liabilities		41	1,766	(1,725)
Total liabilities		4,238	4,324		(86)
Net asset position		2,197	926		1,270

• $8.25M of funding from Tranche 2 of placement and Share Purchase Plan completed in August 2021

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JAYRIDE MARKET CAPITALISATION

Market Capitalisation presented at August 2021 post completion of $11M Placement and SPP.

Shares and Options as issued at 30/06/2021 (plus receipt of capital from placement tranche 1, 2, and SPP)

Shares on issue	(#)	Market capitalisation and EV		(AUD$)
Ordinary shares not escrowed	174,464,208	Market capitalisation (at $0.220per share)		$ 38,800,000
Ordinaryshares under escrow (Employee Shares)	1,920,050 *1	Cash at 30/06/2020 (incl Placement Tranche 1)		$ 3,042,000 *4
Total Shares on Issue	176,384,258	Cash from Placement Tranche 2 and SPP		$ 8,250,000 *4
		Debt from Convertible Note matures at 20/03/2022		$ (2,000,000) *2
Share Options on Issue	(#)	Net cash		$ 9,292,000
Options from Convertible Note at $0.2625 expires at 20/03/2022	3,616,637 *2	Enterprise Value		$ 29,508,000
Options from ESOP (Classes A, B, C, D and E)	9,375,702 *3
Total Options on Issue	12,992,339

Pro-forma Shares and Options (incl receipt of capital from placement tranche 1, 2, and SPP, fully diluted assuming Options exercise)

Shares on issue	(#)	Market capitalisation and EV		(AUD$)
Ordinary shares	176,384,258	Market capitalisation (at $0.263per share)		$ 49,700,000
Shares issued on Options exercise	12,992,339	Cash at 30/06/2020 (incl Placement Tranche 1)		$ 3,042,000
Total Shares on Issue after Options exercise	189,376,597	Cash from Placement Tranche 2 and SPP		$ 8,250,000 *4
		Repayment of Debt from Convertible Note		$ (2,000,000) *2
		Cash through conversion of Options from Convertible Note		$ 950,000 *2
		Cash through conversion of Options from ESOP		$ 3,600,000 *3
		Net Cash on fullydiluted basis		$ 13,842,000
Pro-forma section is illustrative only to show the efect of Options exercise if all Options are exercised		Enterprise Value		$ 35,858,000

*1 Shares under escrow are those issued under the Jayride Employee Share Scheme

2 Options from Convertible Notes expire at 20 March 2022 with an exercise price of $0.2625. Debt from Convertible Notes matures on the same date. Debt has already been repaid post-balance date 3 Employee Share Options (ESOP) inventive retention of leadership team members and key individual contributors. Options vest over 4-years as the team member remains with the company. Class A Options: 2,085,370 Options at $0.533 expire 30/06/2023. Class B Options: 1,186,477 Options at $0.553 expire 30/06/2024. Class C Options: 2,537,466 Options at $0.30 expire 30/06/2025. Class D Options: 2,337,816 Options at $0.30 expire 30/06/2025. Class E Options: 1,228,573 Options at $0.30 expire 30/06/2026.

*4 Jayride completed a $11M Placement and SPP in two tranches. The first tranche of $2.75M was received in June 2021. The second tranche of $7.25M plus the SPP of $1.0M were received in August 2021

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27

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FOR MORE INFORMATION corporate@jayride.com