JAYRIDE GROUP LIMITED — Interim / Quarterly Report 2021

Feb 23, 2021

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1H FY21 RESULTS PRESENTATION

Rod Bishop, Managing Director Peter McWilliam, Chief Financial Officer 24th February 2021

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

The world–leading global airport transfers marketplace

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

MESSAGE FROM THE MANAGING DIRECTOR

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Today we deliver our 1H FY21 Result into a landscape of once-in-a-generation opportunities.

Recovery as vaccine programs roll-out

We have an opportunity to scale and increase market share as vaccinations roll-out. The proactive measures we took during the pandemic have put us in pole position to leverage the strongest relationships with travel and transport brands that are the key to our future earnings power.

With the right offer for the times

Our value proposition is compelling – today’s travellers demand certainty and trust. Jayride has the world’s leading transfers platform which every travel brand can use to give their travellers confidence – backed by Jayride’s unbeatable refund policy, customer service, and track-record throughout the pandemic.

With fundamental improvements throughout COVID

We have maximized our time during the pandemic with fundamental improvements to our platform. Today Jayride has better technologies, a better traveller experience, more retention, and more adoption from B2B partnerships (like Expedia and Booking.com) than pre-COVID.

Executing well

Jayride remains focused on our long-term strategy to build the traveller’s trusted transport brand. Our track record of 26 quarters of growth at 98% CAGR shows the skills of our team to deliver.

Three major growth drivers

Our growth drivers remain in effect: transfers are moving online with adoption from major online travel agencies. We are in pole position compared to our competitors. The vaccine roll-out is accelerating.

Record Contribution Margin

In 1H FY21, Jayride has delivered record contribution margin (35% CM) which will scale to the recovery. We are set to be more profitable than ever before. Furthermore, as refund rates stabilise our CM is set to exceed 50%.

We are excited for the years ahead.

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2

JAYRIDE OVERVIEW

Well placed for the travel recovery as vaccinations continue to roll-out Jayride is the world–leading global travel marketplace for airport transfers

• Continuing to deliver strategic priorities for long-term growth

• Record 36% Contribution Margin milestone achieved in Q2

• Recovery continues 90%+ northern hemisphere

• Building loyalty with record service levels

• Capturing market share through 2021

Key Statistics

3,700 ride-service companies 490K passenger trips booked run-rate pre-COVID

109 countries & 1,600 airports $25M+ invested in platform

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Net Revenue
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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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3

RECOVERY CONTINUES WITH POSITIVE CM

Recovery since April 2020 is ongoing. Strategic focus on unit economics delivers positive Contribution Margin (CM).

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1 2
COVID-19
recovery
potential
COVID-19 COVID-19
recovery recovery
potential potential
+432% +262% CM% sets
Q2 vs Q4 Q2 vs Q4 record 36%
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1. Gross Profit after Paid Acquisition (GPAPA) is Net Revenue minus all Cost of Customer Acquisition.

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

CONTRIBUTION MARGIN OUTLOOK

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Historical refund rates
are stable at ~17%.
Refund rates should
return to historical
levels once travel
policies stabilise.
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Clear line of sight on 50%+ CM margin as refunds return to historical levels.

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Contribution Margin of
36% in Q2 despite high
refund rates.
With stable refund
rates Contribution
Margin would have
been 50%+
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5

DOMESTIC AND REGIONAL TRAVEL DRIVES RECOVERY

90%+ of Trips Booked in key markets, US and UK with advanced vaccination programs.

Passenger Trips Booked - Quarters

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83% CAGR
COVID-19
recovery
potential
+153% Q2
vs Q4
󰄳 Jayride sources travellers globally, 90%+ in US and UK
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Traveller Source Markets (Q2)

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Traveller Destination Markets (Q2)

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• Key growth opportunity in domestic and regional travel recovery around the world

• 55% of Trips taken in North America, majority sourced from travellers within the US

• 30% of Trips in EU, majority sourced from travellers within the UK

• Trips stable Q2 despite EU lockdown, all other continents quarter-over-quarter recovery continues

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6

1H FY21 STRATEGIC PRIORITIES DELIVERED

Continuing to execute on key strategies to capture market share and enhance unit economics.

Complete

Traveller retention “More choices for travellers in the new–normal”

Status

Give travellers more choice to tailor their experience with inclusions and service types eg. COVID-19 Prepared Rides Create traveller membership systems Create traveller self–service tools to manage their bookings

Traveller conversion “Target global re–openings”

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Enhancements to traveller booking journey, especially on mobile Targeted transport contracting for traveller needs eg. COVID-19 Prepared and relaxed restrictions Traveller acquisition “Capture market share and help brands to build their traveller confidence”

Launch new travel partners and grow existing partner accounts

Help partner brands to build traveller confidence with health–secure door–to–door travel

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7

IMPROVEMENTS TO CUSTOMER EXPERIENCE

Launch of new membership system to further enhance traveller experience and conversion rates on mobile.

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󰄝 Mobile responsive
booking website
Mobile–first
Membership system
responsive website. 󰀄
building loyalty
󰾃 COVID-19 Prepared Rides
󰁪 Conversion rates enhanced
󰇵 Record Traveller NPS
39 post travel
󰓎 Over 60,000 Traveller Reviews
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8

RETENTION IMPROVING WITH HIGH SERVICE LEVELS

Retaining travellers at record rates by providing quality service and refund guarantees.

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Key Drivers of Retention Returning Travellers (%) Increase Trips per Traveller (#) Increase
Discover
Retain Book
Experience
󰄳 Best Experience!
󰄳 Best Customer Service
󰄳 Best Refund Policy
󰄳 Best Track Record
󰄳 COVID-19 Prepared
󰄳 Most Destinations 1H FY21 68% of Passenger Trips 1H FY21 7.9 Trips per Traveller,
Booked by Retained Travellers 27% increase over prior half
󰄳 Most Choice
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9

LONG-TERM STRATEGIC PRIORITIES DELIVERED

Delivering on key milestones in long–term strategy to build the leading global marketplace.

Previous Milestones Complete 󰸞 Latest Milestone Complete 󰸞 Jayride Vision

Major milestone delivered with clear path to 50%+ Contribution Margin

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Further Scale Jayride’s
and Technology Vision
Rides for every traveller, from
everywhere to everywhere, in
their language, currency, with
service to suit their needs
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Further Scale Jayride’s
󰸞 󰸞 󰸞 󰸞 󰸞 󰸞 󰸞 and Technology Vision
Launch Launch First Launch Launch Complete global Demonstrate Rides for every traveller, from
transport partners “Low Cost” new global transport roll-out profitable unit everywhere to everywhere, in
technology booking implement Aggregation of transport to 95% of world economics with their language, currency, with
platform systems API Transport Supply platform airport trips high margin service to suit their needs
FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21
COVID-19
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10

FINANCIALS

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INCOME STATEMENT 1H FY21

Improved unit economics and cost savings sustainable into travel recovery.

Income Statement Summary	Income Statement Summary	Income Statement Summary
	1H FY21	2H FY20	1H FY20	Movement	Movement
	AUD(000's)	AUD(000's)	AUD(000's)	HoH	PCP
				%	%
Net revenue from Passenger Trips Booked	215	870	2,366	-75%	-91%
Interest Revenue	0	16	0
Government grants (Jobkeeper and Cash boost)	396	246	0
Other Income including recurring grants (R&D and EMDG)	238	257	40
Total Revenue	849	1,389	2,406	-39%	-65%
Marketing and variable costs
Cost of customer acquisition	(42)	(524)	(1,097)
Variable operational costs	(135)	(563)	(1,018)
Total marketing and variable costs	(177)	(1,087)	(2,115)	-84%	-92%
GPAPA¹ Margin (excl Other Income and Grants)	80%	40%	54%	40%	26%
Contribution Margin² (excl Other Income and Grants)	18%	-25%	11%	43%	7%
Non-variable cash costs
Non-variable operating costs	(477)	(853)	(1,063)	-44%	-55%
Corporate costs	(328)	(281)	(372)
Growth costs (excl capitalised development costs)	(392)	(655)	(962)
Depreciation of leases	(48)	(294)	(286)
Total non-variable cash costs	(1,245)	(2,083)	(2,683)	-40%	-54%
Operating profit before non-cash costs	(573)	(1,781)	(2,392)	+68%	+76%
Non-variable non-cash costs
Aged receivables risk provision	(328)	(21)	(28)
Write off of PPE associated with office lease	(118)	0	0
Depreciation and amortisation (excluding operating leases)	(438)	(432)	(399)
Share-based payments	(507)	(508)	(948)
Total non-variable non-cash costs	(1,391)	(961)	(1,375)	+45%	+1%
Operating profit	(1,963)	(2,742)	(3,767)	+28%	+48%
Non-operating costs
Currency movements	2	(26)	(55)
Finance costs	(187)	(207)	(292)
Total non-operating costs	(185)	(233)	(347)	-21%	-47%
Net profit before income tax	(2,148)	(2,975)	(4,114)	-28%	-48%

• 1H FY21 Operating Profit/Loss before non-cash costs improved a significant 76% on Pre-COVID PCP through improved unit economics and disciplined cost-savings

• Net Revenue from Passenger Trips Booked declined 91% on Pre-COVID

• Revenue loss partially offset by government grants to retain key team members and take advantage of the recovery

• In 1H FY21 Contribution Margin achieved 18% (in Q2 FY21 reaching 36%) as a result of fundamental improvements in marketing and operational efficiency

• Non-variable cash costs improved 54% on Pre-COVID PCP which is sustainable into the travel recovery

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1. Gross Profit after Paid Acquisition (GPAPA) is Net Revenue minus all Cost of Customer Acquisition.

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

12

1H FY21 PERFORMANCE DASHBOARD

Passenger Trips Booked

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Contribution Margin

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Contribution
Margin record
high despite
refund rates
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Recovery continues from Q2 with Contribution Margin of 36% in Q2 despite high refund rates.

Revenue Per Passenger Trip

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High refund rates
impacted Net
Revenue Per Trip
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Non-Variable Cash Costs[1]

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1. Non–Variable Cash Costs includes all Non–Variable Operating Expenses, Corporate Costs, Growth Costs, and Capitalised Development Costs, excluding share–based payments.

13

INVESTING FOR GROWTH

Jayride is at an early stage in a long–term growth trajectory – making selective investments to drive scale and higher returns.

1H FY21 Cash Flows

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Receipts

• Contribution returns to positive

• Receipts movements returns to positive as company begins to regrow cash float

• Grants and stimulus received include: Job Keeper, Cash Boost, R&D Tax Incentive, and EMDG

Operational costs

• Significant enhancement to operational costs

• Total receipts of $1.194M now exceeds total operational costs of $1.085M

Funding for growth

• $2.5M fully subscribed placement and SPP

Growth investments

• Retained key talent to build IP for future scale

One-off costs

• Relating to office lease exit

Available Liquidity

• $2.3M of cash at 30th December 2020

• $0.4M Trade and other receivables, including grants receivable

• $0.6M of additional grants are expected to be received over CY21, including R&D Tax Incentive, Export Market Development Grant, and JobKeeper

• $1.0M of undrawn debt facilities

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14

OUTLOOK

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STRUCTURAL TREND TO ONLINE

Online penetration of ride service in the travel industry is low and accelerating driven by changing traveller needs.

Bookings made online by travel vertical

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1 1 1 1 2
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Major Online Comparison Marketplaces and Search Engine Brands

Travellers needs met better online

• Health secure, high duty–of–care

• Comparison and choice

• Friendly cancellation and refund policies

• Reviews for confidence and reliability

Travel Brands needs met better online

• Package rides for a door-to-door experience

• Defend core business by increasing traveller confidence

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Refunds and customer service
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COVID-19 prepared rides

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16 1. Statista.com online penetration by travel industry vertical % of revenue 2019. 2. Management Estimate

GROWING TRAVEL BRAND ADOPTION

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Jayride travel brand partners implement the Jayride API to sell airport transfers and add new ancillary revenue to their travel business.

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17

COMPETITIVE POSITION ENHANCED

Jayride has the opportunity to build significant market share and leapfrog competing distressed online brands.

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Decisions to improve earnings power General Market Position
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 successful capital raise completed 󰗠 󰅙
General Market Position
Effect on market position
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 󰗠 󰅙
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18

COVID-19 RECOVERY CYCLE

Jayride’s Total Addressable Market (TAM) in 2021 expected to be 6.8 Billion Trips.

Timeline

• 2021 – COVID-19 recovery

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COVID-19
Global Roll–out
increases
Market Access
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IATA.org forecasts TAM to increase 60% YoY to 6.8 billion trips. Jayride Market Access would recover to 6.1 billion trips.

• 2020 – COVID-19 onset

TAM and Market Access was impacted by COVID-19. Current 2020 forecast is 4.5 and 4.0 billion trips respectively.

• 2018 – 2019

Jayride launched in over 100 new countries, at airports that serve 90% of world airport passenger trips.

Sensitivity Analysis1

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Source IATA.org
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• Current IATA Forecast for 2020 and 2021

Given trading subsequent to March, the board is now withdrawing its preliminary 18-month recovery scenario that it provided to market on 9th April 2020.

Assuming air travel market recovers inline with IATA. org forecast across Jayride markets in 2021: Jayride TAM 6.8 billion trips (75% of 2019)

Jayride Market Access 6.1 billion trips (75% of 2019)

Jayride Trips Booked should recover at least inline to market, 75% of January 2020, in the range of 30,000– 40,000 trips per month.

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1. Sensitivity analysis is presented for illustrative purposes only and is based upon estimates and projections that rely upon various assumptions. These assumptions may or may not prove to be correct and accordingly no reliance should be made upon this information. Jan 2020 trips booked were 48,600 * 75% market recovery = 36,450 trips per month average for 2021.

19

2H FY21 STRATEGIC DELIVERY

Build momentum and capture market share with superior delivery.

TRATEGIC DELIVERY Build momentum and capture mark with superior delivery.	et sh
󰁕	Ongoing
Traveller retention “Improve the traveller experience”	Status
Grow member retention using the new membership system	󰁕
Enhance traveller self-service and customer service tools	󰁕
Traveller conversion “Enhance our ofer for travellers”

Redesign mobile booking website for travellers in the new normal Streamline search and booking workflow for mobile users Explore further traveller needs – service classes, vehicle-types, inclusions and extras Traveller acquisition “Win market share”

Grow travel brand partnerships with major online travel agencies Win new travel brand partnerships Capture new organic web traffic

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

SUMMARY OUTLOOK

Summary

• Passenger Trips Booked impacted by COVID-19 in 1H FY21, initial recovery continuing since April

• Non-variable Cash Costs reduced by 54% in 1H FY21 vs prior corresponding period (vs pre-COVID)

• Contribution Margin positive for 1H FY21, CM% Margin of 36% in Q2

• Proven unit economics – delivered a key milestone in Jayride’s long-term growth strategy

• Successful fully subscribed placement and SPP of $2.5M to invest in capturing market share

Positive Outlook

• Well placed to benefit as vaccinations continue to roll-out

• Positioned to capture the rebound across Northern Hemisphere markets with US and EU domestic and regional travel

• Three key recovery drivers: COVID-19 recovery / Enhanced competitive position / Structural trend to online

• In pole position to win market share with successful capital raise and strong relationships in a distressed market

• Targeting 50%+ Contribution Margin as refund rates stabilise

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21

INVESTMENT PROPOSITION

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

• Travel brands choose Jayride to turn–key the entire global ride service industry

Clear strategy

󰁪

󰭮

Retain travellers Convert travellers with world–leading to book with the door–to–door best selection travel experience that simply works, and service everywhere

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

B2C and B2B Business

A Key Strategic Asset

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

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

• Mobile responsive website for travellers to book rides around the world

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

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

Recovery tailwinds

󱄃

󰄫

󰧨

󰀐

Acquire travellers and share through travel brand partnerships and organic search

An accelerating trend to online booking. Travellers can build their confidence online

As vaccinations roll-out, Jayride’s existing travellers return in existing destinations

Opportunity to capture share in a distressed competitive landscape

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22

APPENDIX

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A GLOBAL TRAVEL MARKETPLACE

All key IP and relationships retained, global coverage intact and ready for high earnings potential as travel recovery continues.

Key measures of Jayride IP and global scale

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COVID-19
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COVID-19
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COVID-19
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Jayride revenue and drivers

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COVID-19
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COVID-19
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COVID-19
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24

LOYAL TRAVEL BRAND PARTNERS

A broad, diversified and growing list of travel brand partners that sell airport transfers for Jayride.

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Plus more coming...

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25

BALANCE SHEET 1H FY21

	Balance Sheet Summary
	31-Dec-2020	30-Jun-2020	Movement HoH
	AU$(000's)	AU$(000's)	AU$(000's)
Current assets
Cash and cash equivalents	2,265	963	1,301
R&D and EMDG Tax Incentive receivables	0	619	(619)
Government contributions receivables	86	108	(22)
Trade and other receivables	345	811	(466)
Total current assets	2,695	2,501	194
Non-current assets
Jayride website and technologies	2,451	2,344	107
Other non current assets	53	405	(352)
Total non-current assets	2,504	2,749	(245)
Total assets	5,199	5,250	(51)
Current Liabilities
Trade and other payables	1,401	1,641	(241)
Future transport supplier payments	115	188	(73)
Lease liability	0	338	(338)
Other current liabilities	160	390	(230)
Total current liabilities	1,676	2,558	(882)
Non-current assets
Borrowings	1,817	1,745	72
Other non-current liabilities	26	21	5
Total non-current liabilities	1,843	1,766	77
Total liabilities	3,519	4,324	(805)
Net asset position	1,680	926	754
Equity
Issued capital	27,056	24,317	2,739
Reserves	3,359	3,450	(91)
Accumulated losses	(28,735)	(26,840)	(1,894)
Total Equity	1,680	926	754

$3.3M of cash, grants and trade receivables available, plus contribution from cash flow and debt headroom.

• $2.3M of cash at 30th December 2020

• $0.4M Trade and other receivables, including grants receivable

• An additional $0.6M of government grants are expected to be received over CY21 including R&D Tax Incentive, Export Market Development Grant, and JobKeeper

• Opportunity to increase cash reserves by drawing down on undrawn debt facilities

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26

CASH PERFORMANCE FY20

Cash Flow Summary	Cash Flow Summary	Cash Flow Summary
	1H FY21 AUD(000's)	2H FY20 AUD(000's)	1H FY20 AUD(000's)	Movement HoH %	Movement PCP %
Cash from Operating Activities
Net receipts from customers	211	(109)	2,086
Operating and corporate costs	(1,170)	(3,112)	(3,930)
Grants funding for operating activities	169	110	510
Cash from Operating Activities	(790)	(3,111)	(1,334)	+75%	+41%
Cash from Investing Activities
Plant, property and equipment	1	(13)	(3)
Capitalised technology costs	(534)	(684)	(582)
Grants funding for investing activities	551	0	489
Other	0	324	0
Cash from Investing Activities	18	(373)	(96)	+105%	+119%
Cash from Financing Activities
Proceeds from issue of equity (net of issue costs)	2,365	278	4,525
Proceeds from borrowings	(113)	(335)	296
Proceeds from limited recourse loan repayment	40		0
Net payments related to office lease	(215)	(79)	(210)
Cash from Financing Activities	2,077	(136)	4,611
Cash movement
Cash inflow/outflow	1,305	(3,620)	3,181
FX Movements on cash balances	(4)	11	(41)
Net Increase / (Decrease) in Cash	1,301	(3,609)	3,140
Starting position	964	4,573	1,433
Cash Position at the end of the period	2,265	964	4,573

Improved operating cash flows through enhanced unit economics and proactive cost saving measures.

• Operating cash flows improves 75% half-over-half as refunds continue to stabilise and cost savings initiatives are realised

• The company holds $2.3M of Cash at 30th December 2020

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27

JAYRIDE MARKET CAPITALISATION

Shares and Options as issued

Shares on issue	(#)
Ordinary shares not escrowed	120,754,682
Ordinary shares under escrow (Employee Shares)	1,997,642 *1
Total Shares on Issue	122,752,324
Share Options on Issue	(#)
Options from Converible Note at $0.553 expires at 20/03/2022	3,616,637 *2
Options from ESOP (Classes A, B, C, and D)	8,147,129 *3
Total Options on Issue	11,763,766

Market capitalisation and EV		(AUD$)
Market capitalisation (at $0.150 per share)	($	18,400,000)
Cash at 31/12/2020	($	2,300,000)
Debt from Convertible Note matures at 20/03/2022	($	(2,000,000)	*2
Enterprise Value	($	18,100,000)

Pro-forma Shares and Options, fully diluted, assuming Options exercise

Shares on issue	(#)
Ordinary shares	122,752,324
Shares issued on Options exercise	11,763,766
Total Shares on Issue after Options exercise	134,516,090

Pro-forma section is illustrative only to show the effect of Options exercise if all Options are exercised

	Market capitalisation and EV		(AUD$)
	Market capitalisation (at $0.553 per share)	($	74,400,000)
	Cash at 31/12/2020	($	2,300,000)
	Repayment of Debt from Convertible Note	($	(2,000,000)	*2
	Cash through conversion of Options from Convertible Note	($	2,000,000)	*2
	Cash through conversion of Options from ESOP	($	3,200,000)	*3
	Net Cash on fully diluted basis	($	5,500,000)
	Enterprise Value	($	68,900,000)

*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 $0.553. Debt from Convertible Notes matures on the same date

*3 Employee Share Options (ESOP) inventive retention of leadership team members and key individual contributiors. 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.

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28

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 APIs to sell door–to–door ride services that build traveller confidence and defend their core travel business.

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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FOR MORE INFORMATION corporate@jayride.com