JAYRIDE GROUP LIMITED — Interim / Quarterly Report 2023

Jul 26, 2023

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Building the world leader in rides for travellers

Q4 FY23

Quarterly Business Review Rod Bishop, Managing Director Peter McWilliam, CFO 27th July 2023

ASX release authorised by Rod Bishop, Managing Director, Jayride Group Limited (ASX:JAY) www.jayride.com

Jayride Overview

World leader in rides for travellers

Jayride helps travellers to find and book their rides around the world.

Key Facts

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Compare the world’s leading selection of ride brands

Covering 95% of world airport trips

In partnership with the world’s leading travel brands

$30M+ invested in scaling tech platform

• Travel technology company at an early stage in a long-term growth trajectory – scaling towards 10M+ trips per year,

• Winning market share in a large and fast growing global market,

• Highly-scalable capital-light model with negative working capital,

• Positioned to benefit from multiple growth tailwinds including the shift to online bookings, a superior product offering, and ongoing international tourism recovery, including Asia reopening.

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COVID-19
2H FY23
$2.55M
98% CAGR Winning
Six years to Dec 2019 market share
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The world’s leading travel brands and ride service brands use Jayride.

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Q4 FY23 Results Summary

A fundamentally enhanced and more profitable business, moving quickly towards cash flow positive.

Passenger Trips Booked

▲ 46%

Net Revenue minus variable costs[1] (000’s)

▲ 20%

Stand-Still Operating Cash Flow

Cash flows before business improvement costs[2 ] (000’s) ▲ 45%

Net Revenue (000’s) ▲ 42% Cash Receipts (000’s) ▲ 64% Operating Cash Flow (000’s) ▲ 37%

1. Contribution profit is net revenue minus all direct marketing and operating costs. Contribution profit margin is the profit as a percentage of net revenue.

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1. Stand-still cash flow and stand-still EBITDA are cash flows and profits after the operating costs of the Company, excluding the cost of business improvement costs and capex.

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

Reaching New Scale in Global Destinations

Europe, North America and Asian destinations reach new record scale, as growth accelerates through Northern Hemisphere summer.

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COVID-19
Long track record of Faster growth rate
growth at 83% CAGR ex-COVID-19
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● Passenger trips booked grew to a new high of 199,100 in Q4 FY23, up +46% vs Q4 FY22,

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Growth Towards Cash Flow Positive

Cash receipts from customers and operating cash flows improve to new highs as the Company continues progress towards cash flow positive.

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• Cash receipts from customers grew to $2.24M in Q4 FY23, up +64% vs Q4 FY22,

• Stand-still operating cash flow grew to $725K in Q4 FY23, up +45% vs Q4 FY22,

• Operating cash flow improved to $(32)K in Q4 FY23, up +37% vs Q4 FY22,

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Cash Flows to Fund Growth Investment

Jayride is generating increasing cash flows to fund continued growth investment, towards being a cash flow positive growth company.

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• Growth investment in Q4 reduced from $(1.55)M in Q3 to $(1.45)M as business improvement initiatives were completed,

• The Company is now free of financial debt with repayment of $182K of borrowings,

• On 30th June 2023, the Company held $2.52 million of cash, and an additional $1 million credit line facility.

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Growth in Trips and Operating Leverage

Passenger trips booked drive revenue growth as costs remain flat. Positive momentum and increasing operating leverage.

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Passenger Trips Booked x Net Revenue per Trip x Contribution Margin – Costs

• Net revenue grew to $1.55 million in Q4 FY23, up +34% vs $1.15 million in Q3 FY23,

• Contribution profit grew to $682K in Q4 FY23, up +33% vs $513K in Q3 FY23,

• Stand-still EBITDA (pre-growth investments) grew to +$17K, up $197K vs $(180)K in Q3 FY23.

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Major Improvements Launched for Growth

A suite of business improvements are set to drive growth throughout FY24 including multilingual website, ride tracking, and travel agents portal.

Spanish language for travellers

Ride Tracker for drivers

New portal for travel agencies

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● Spanish language and Ride Tracker launched in Q4. New travel agent portal launching in Q1.

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New Brand Identity and Website Launched in January Grow traveller trust, conversion and retention in Q4.

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Acquisition of AirportShuttles.com Completed in February Our first full quarter with . this great new asset in Q4

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Riding the Trend to Book Travel Online

The trend to online booking for rides is in its infancy with significant long term growth ahead.

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Long-term growth
potential
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Online penetration of rides is at an early stage compared to other travel verticals.[1]

Travel brands use Jayride to supply their rides, and adoption of online booking is growing.

Jayride quote requests from large travel brands are at a multiple of pre-pandemic levels.

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

Delivering the Jayride Vision

JAYRIDE VISION

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

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Full multi-lingual
Global source markets
Anywhere to anywhere
In-destination book/hail
Growth horizon 2
Europe localisation ● 10M+ trips/year @ $10+/trip
Asia reopening ● $100M+ net revenue
Non-airport destinations ● 50%+ contribution profit margin
Q4 FY23 Last-minute bookings ● C/F +ve & EBITDA +ve
✓ 800K trips/year run-rate @ $7.77/trip Extras and ancillaries
✓ 44% contribution profit margin
✓ Stand-still C/F +ve
Growth horizon 1
Pre-booked only
Airports only ● 1M+ trips/year @ $10+/trip
English only ● $10M+ net revenue
● 50%+ contribution profit margin
● C/F +ve & EBITDA +ve
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Delivering Milestones Towards the Vision

Delivering major milestones, next step in sight – cash flow positive from 1 million rides at $10 each.

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10M+ Passenger
Trips Booked
per year
1M+ Passenger Trips
Booked per year
800K TRIPS RUN-RATE in Q4 FY23
NH Summer, Asia Opening
and AirportShuttles.com
Milestones to achieve cash flow positive
$10+ Net Revenue
per Passenger Trip
$7.77 PER TRIP IN Q4 FY23
Grow yields in Asia
Stand-Still
EBITDA [2] Positive
MILESTONE ACHIEVED
For 6 months
Stand-Still
Cash Flow [2] Positive
MILESTONE ACHIEVED
For CY22 calendar year
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50% Contribution Profit[1] Margin MILESTONE ACHIEVED For 9 months

Achieving major new milestones beyond recovery – Significantly above pre-pandemic levels.

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1. Contribution profit is net revenue minus all direct marketing and operating costs. Contribution profit margin is the profit as a percentage of net revenue. 2. Stand-still cash flow and stand-still EBITDA are cash flows and profits after the operating costs of the Company, excluding the cost of business improvement costs and capex.

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Latest Trading and Positive Outlook

Delivering on a generational opportunity to become the world leader in rides for travellers with milestones towards cash flow positive.

Latest trading

• The Company has momentum into FY24,

• June trips of 75K is a new record for trips. June revenue of $630K is a new record for revenue,

• July 2023 to date is larger than June, up +77% vs the prior corresponding days of July 2022,

• Set to expand further in 1H FY24.

Positive outlook

• Continued execution of growth strategy to capture once-in-a-generation opportunity

• and become the world leader in rides for travellers.

• Focused on delivering on next major milestones: 1M+ trips per year at $10.00+ each,

towards cash flow positive, and onwards to 10M+ trips per year.

• Growth ahead in 1H FY24 as a result of successful investments in brand refresh, price optimisation,

multilingual launch, ride tracker launch, enhanced partnerships with large travel brands, AirportShuttles.com acquisition, and the upcoming launch of the new Jayride travel agent portal in Q1 FY24.

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Financials and Appendix Q4 FY23

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Market Capitalisation

Shares on issue at 30/06/2023		(#)
Ordinary shares issued		203,374,023
Ordinary shares - held for future Employee Share Scheme issuances		263,780
Total Shares on Issue		203,637,803
Share Options held by directors and team members at 30/06/2023		(#)
Options issued under employee share scheme - Directors		2,665,767
Options issued under employee share scheme - MD, KMP and Team Members		10,727,924
Total Options on Issue		13,393,691
Shares held by notable substantial holders at 30/06/2023		(#)
Managing Director Rod Bishop		11,000,000
Thorney Investments		39,804,914
Fidelity Investments Australia		19,952,284
Acorn Capital Limited		14,434,544

Managing director and team members aligned with shareholders on performance.

Market capitalisation and EV	(AUD$)
Market capitalisation (at $0.11 per share)	$ 22,400,000
Cash at 30/06/2023	$ 2,500,000
Debt	$ -
Net cash	$ 2,500,000
Enterprise Value	$ 19,900,000

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About Jayride Group

Jayride Group is the world’s leading publicly listed airport transfers marketplace, where travellers compare and book rides around the world. With Jayride, travellers can compare and book with 3,700+ ride service companies, servicing 1,600+ airports in 110+ countries around the world which cover 95% of world airport trips, including across the Americas, Europe, Middle East, Africa, Asia and the Pacific.

The Jayride platform aggregates ride service companies and distributes them to travellers at Jayride.com, AirportShuttles.com, and via travel brand partners including other technology platforms, online travel agencies, travel management companies, and wholesalers. These travel brands implement Jayride APIs to sell door-to-door ride services that build traveller confidence and grow their core travel business.

Founded in 2012, Jayride Group is a global remote-first company incorporated in Australia and listed on the Australian Securities Exchange (ASX:JAY) ABN 49 155 285 528.

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. The Company makes no representation or warranty, express or implied, as to the accuracy, reliability or completeness of this announcement. The Company, its directors, employees, agents and consultants shall have no liability, including liability to any person by reason of negligence or negligent misstatement, for any statements, opinions, information or matters, express or implied, arising out of, contained in or derived from, or for any omissions from this material except liability under statute that cannot be excluded. This announcement should be read in conjunction with the Company’s other ASX releases and financial results which can be found on the Company's website.

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Visit www.jayride.com Email corporate@jayride.com

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