JAYRIDE GROUP LIMITED — Investor Presentation 2018

Sep 16, 2018

FY18 PRELIMINARY FINAL REPORT INVESTOR PRESENTATION Rod Bishop, Managing Director for Taylor Collison, September 2018

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TABLE OF CONTENTS

About Jayride 3 Results Highlights 8 Jayride’s Vision and Execution 14 Available Funding 19 Appendix 22

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2

WHO IS JAYRIDE?

Travel E-commerce Marketplace for Ground Transport.

B2C Travel

Travellers use Jayride to compare and book ground transport including shared airport shuttles and private transfers.

B2B Travel

Travel brands use Jayride APIs to add new ancillary revenues by selling airport transfers to their travellers.

• ij AU head-office

• ij Scaling internationally

• ij US largest market

• ij 2,000+ transport companies

• ij 500+ airports

Connecting travellers with ground transport companies, worldwide.

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World’s only map-based
marketplace technology
for passenger transport
companies.
Simple powerful
transport
marketplace for
travellers.
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Powering passenger transport bookings for the world’s leading travel brands.

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3

HOW JAYRIDE WORKS

Transport

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Transport Provides

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ij Prices ij Coverage ij Availability Transport Receives

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More revenue, opportunities to service new destinations and new partners.

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Jayride is a marketplace that connects travellers with the best selection of transport companies in destinations around the world.

Travellers

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Travellers Receive Thousands of transport companies available through a single source.

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Travellers Provide ij Booking ij Travel ij Feedback

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4

JAYRIDE’S ADDRESSABLE MARKET OPPORTUNITY

Ground transport is a natural ancillary to online travel. Jayride’s opportunity is to bring ground transport companies online.

Riding major industry change in travel and transport

• Online Travel Ground Transport Booking for Air Travellers * *

• US$650bn US$100bn

• ij Low-Cost Carriers (LCC) reduce ij Travellers have more choice in margins in airfare, and create door-to-door and on-demand a new drive towards ancillary transport than ever before. revenues in travel. ij “Driver apps” and dispatch

• ij Travellers increasingly demand technology become commodity ‘seamless’ travel experiences, and create new opportunities including door-to-door. for transport companies.

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5 * Sources: Frost and Sullivan, ETOA

GROWTH IN ADDRESSABLE MARKET OPPORTUNITY

Jayride’s market is growing as more travellers fly, and more transport is booked online in the online travel industry.

Market Growth Forecast for Online Booking of Airport Passenger Trips

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400%

Airport passenger Growth in
trips in 2017 market size
350%
7.7bn
300%

$100bn
250%
Spent in airport
transport in 2017
200%
Forecast CAGR
+13.5%
150%
100%
2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027
Forecasted Market Size
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6 * Sources: Frost and Sullivan, ACI and European Tourism Association (ETOA)

GROWTH IN ADDRESSABLE MARKET OPPORTUNITY

7.7bn passenger trips to and from airports annually, growing at 4.9% per annum. $100bn spent on airport transport annually, with growth of online booking.

Growth in Passengers at Airports (10 year forecast)

Growth in Online Travel Booking (10 year forecast)

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15 $1,500
Forecast CAGR Forecast CAGR
13.1
+4.9% +8.2%
10 $1,000
7.7
5 $500
0 $0
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027
Passengers Travelled (billions) (Source: ACI) US$ (billions) (Source: ETOA)
Market Size (US$ Billions)
Market Size (Passengers Travelled, Billions)
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Frost and Sullivan reports that the estimated size of passenger transport to and from airports is US$100bn. Airport Councils International (ACI) reports that passenger transport to and from airports reached 7.7bn passengers in 2016, and forecasts this number to double by 2031 based on a projected growth rate of +4.9% per annum. In parallel, travel booking is moving online with European Tourism Association reporting that online travel booking is growing at a projected growth rate of +8.2% per annum.

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7

INCOME STATEMENT FY18

Strong TTV growth with revenue margin of 25% and improvements to unit profits. Deploying cash into technology for future growth.

Income Statement Summary

TTV Revenue from commissions and fees booked	30-Jun-18 AU$(000's) 30-Jun-17 AU$(000's) Movement % 9,307 4,744 +96% ▲ 2,316 1,107 +109% ▲
Commissions and fees refunded Other income	-402 -184 -118% ▼ 538 241 +123% ▲
Net Revenue	2,451 1,164 +111% ▲
Cost of customer acquisition	-1,413 -845
Gross profit after paid acquisition (GPAPA) Operational costs	1,038 319 +225% ▲ -1,933 -1,096
Gross profit after all operational costs (GPAAOC) Corporate costs (including IPO costs)	-895 -777 -15% ▼ -432 0
Gross profit after operational and corporate costs Growth costs (excluding capitalised development costs) Growth costs paid as shares (including IPO costs)	-1,327 -777 -71% ▼ -2,734 -1,249 -1,162 -181
Operating EBITDA	-5,223 -2,207 -137% ▼
Commissions and fees booked to TTV margin GPAPA margin GPAAOC margin Operating EBITDA margin	25% 23% +7% ▲ 45% 29% +56% ▲ -39% -70% +45% ▲ -226% -199% -13% ▼

+109% +96%

Commissions & TTV fees booked

+111% +225%

Net Revenue GPAPA

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8 * For Balance Sheet and Cash Flow see slides 20 & 21

STRONG GROWTH IN KEY METRICS

Strong track record of growth across all key metrics. Increasing return on every passenger trip booked.

Commissions and Fees Booked TTV Booked

Passenger Trips Booked

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FY 2017 FY 2018 FY 2017 FY 2018 FY 2017 FY 2018
$1.4M $5.5M 130K
120K
$5.0M
$1.2M
110K
$4.5M
100K
$1.0M $4.0M
90K
$3.5M
80K
$0.8M
$3.0M 70K
60K
$2.5M
$0.6M
50K
$2.0M
40K
$0.4M
$1.5M
30K
$1.0M
$0.2M YoY Growth YoY Growth 20K YoY Growth
$0.5M
10K
+109% +96% +64%
$0.0M $0.0M 0K
H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2
TTV Booked (AUD) Passenger Trips (#)
Revenue from Commissions and Fees Booked (AUD)
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Continued year-over-year (YoY) growth

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9

PASSENGER TRIPS REVENUE AND PROFIT

Commissions and Fees from passenger trips continue to grow revenue and Gross Profit after Paid Acquisition (GPAPA)

	SSENGER TRIPS VENUE AND PROFIT Commissions and Fees from passen continue to grow revenue and Gros after Paid Acquisition (GPAPA)	SSENGER TRIPS VENUE AND PROFIT Commissions and Fees from passen continue to grow revenue and Gros after Paid Acquisition (GPAPA)	SSENGER TRIPS VENUE AND PROFIT Commissions and Fees from passen continue to grow revenue and Gros after Paid Acquisition (GPAPA)	SSENGER TRIPS VENUE AND PROFIT Commissions and Fees from passen continue to grow revenue and Gros after Paid Acquisition (GPAPA)	SSENGER TRIPS VENUE AND PROFIT Commissions and Fees from passen continue to grow revenue and Gros after Paid Acquisition (GPAPA)	SSENGER TRIPS VENUE AND PROFIT Commissions and Fees from passen continue to grow revenue and Gros after Paid Acquisition (GPAPA)	SSENGER TRIPS VENUE AND PROFIT Commissions and Fees from passen continue to grow revenue and Gros after Paid Acquisition (GPAPA)	SSENGER TRIPS VENUE AND PROFIT Commissions and Fees from passen continue to grow revenue and Gros after Paid Acquisition (GPAPA)
	and Proft from Commissions and Fees Booked
0K 100K 200K 300K 400K 500K 600K 700K	FY 2017 Q1 Q2 Q3 Q4 Commission and Fees from Passenger Trips Booked GPAPA from Passenger Trips Booked				FY 2018 Q1 Q2 Q3 Q4
			ps Booked			IPO
		Fees from Passenger Tri senger Trips Booked
	20+Qu
		arters of r	evenuegr	owth
	Increas	ing proft	after paid	acquisitio	n
	Q1
		Q2	Q3	Q4	Q1	Q2	Q3	Q4

10

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

EXISTING AND NEW DESTINATIONS

Two ways to grow: Growth by launching new destinations, and by growing market share inside existing destinations.

TTV Booked by Region (AUD $M) ~~Launch Growth in Launch~~ $10M Australia & NZ UK & Ireland of US existing of new $9M destination destinations destinations US Other Countries $8M 44% July: Jayride $7M ~~launches~~ Canada. $6M August: Jayride $5M ~~5% launches Italy~~ $4M 42% ~~September and~~ onward: Further $3M ~~countries will~~ 47% launch. $2M 58% 47% $1M 81% 33% $0M 100% FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 ij Australia ij Australia ij Australia ij Australia ij US ij US ij US ij New Zealand ij New Zealand ij New Zealand ij US ij Australia ij Australia ij Australia ij UK ij UK ij New Zealand ij New Zealand ij New Zealand ij New Zealand ij Ireland ij Ireland ij UK ij UK ij UK ij UK Growth in ij US ij Ireland ij Ireland ij Ireland ij Ireland international ij Canada destinations ij Italy ij New destinations

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11

GROWTH IN EXISTING DESTINATIONS

Jayride outperforms the market in each existing destination. As more travellers move online, Jayride captures new market share.

Growth in passenger trips

Jayride VS +116%

All Airports * +4.9%

Growth in passenger trips

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Regions Airport Jayride Airport
LAX +185% +4.5%
SFO +119% +5.1%
United States LAS +182% +2.2%
JFK +254% +0.7%
MCO +213% +6.4%
SYD +89% +3.6%
Australia MEL +143% +3.6%
OOL +96% +2.1%
United Kingdom LHR +170% +3.0%
New Zealand AKL +70% +7.3%
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Capturing share in every market

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CY 2017 vs CY 2016 for top airports in each region.

12 * Source: Airports Council International (ACI)

LAUNCH INTO NEW DESTINATIONS

Jayride is rolling out internationally with a repeatable market capture strategy, to rapidly launch new airports around the world.

Jayride’s market access to destinations around the world

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32% of world market (2.46bn passenger trips per year)
Launch of Objective
Italy
31% (2.39bn) New technology platform
All airports
launched in May enables
Launch of
30% (2.31bn) rapid international growth Canada
Market size
29% (2.23bn)
Launch
of new 7.7bn trips
28% (2.16bn) transport
platform
27% (2.08bn)
Growth potential []
+266%
26% (2.00bn)
25% (1.93bn)
Jayride’s market access (# passenger trips)
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• Source: Airports Council International (ACI), “World Airport Traffic Dataset,” http://www.aci.aero.

• ** +266% is achieved if Jayride increases market access from 27% to 100% of airport passenger trips, without any further increases to market share.

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13

FY18 GROWTH ACTIVITIES ACHIEVED

In FY18 Jayride deployed $4.3m into growth to launch transport and service platforms that will empower future economic returns at scale.

New platforms and team built for rapid international expansion

Launched new transport technology platform. Enables faster cost-effective international expansion. Launched transport in new international destinations. Enables long-term revenue growth. Launched new customer service technology platform. Enables scaling traveller service, and strong traveller retention. Launched new traveller acquisition channels for B2C. Enables long-term cheaper cost of customer acquisition. Launched major new travel partnerships for B2B. Enables long-term revenue growth.

Recruited a world-class team

• ij 14 headcount of Sydney-based technology product and engineering team members (+100% compared to PCP FY17).

• ij Now launching 30+ new product releases per quarter (Q4 FY18, +340% compared to PCP Q4 FY17).

Eligible for R&D tax incentives

• ij For FY18, with $4.3m of growth expenditure, Jayride receives a $854,000 R&D tax incentive (19%).

• ij Each year Jayride intends to invest in R&D to create further growth, and be eligible for R&D tax incentives.

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14

FY19 FORWARD OUTLOOK

In FY19 Jayride will leverage its new platforms for growth in existing and new destinations. This strategy has funding for 12+ months.

New Market Capture and New Market Share

Latest update from Q1 FY19:

• ij 19 New Countries enter pilot phase using Jayride’s new transport technology platform launched in May,

• ij 2 New Countries launch already (Canada, Italy), more European and international countries launching soon,

Flexible cash burn model:

• ij Management can scale growth costs up or down to manage burn and seize organic growth opportunities.

• ij The company’s existing capital is sufficient to fund the current expansion strategy for 12+ months.

• ij $854k R&D Tax Incentive received.

FY19 growth initiatives:

Launch further new international destinations. Enables long-term revenue growth.

Launch further supporting technologies Amplify success in new destinations. e.g. currency, language, transportation modes.

Launch further new traveller acquisition channels Grow profit and market share in existing destinations. and trade channels for B2C and B2B.

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15

Every traveller will demand a OUR door-to-door experience, and every VISION travel brand will want to offer one.

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OUR [Give travellers access to seamless ] MISSION transport to every destination.

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THE TRAVELLER EXPERIENCE

230,000+

Passengers served in FY18

World-leading source of reviews on transport. Giving the traveller the best selection and best service, to compare and make the right choice.

The most reviews of the most transport companies

• ij Jayride is a trusted third-party source of unbiased reviews of transport companies for travellers to read and compare.

• ij There is no better source of reviews on transport services, with as many reviews from real travellers, as Jayride.

30,000+

Real traveller reviews now available on Jayride

• ij In addition, Jayride’s own website is rated 4.3 / 5.0 from 1,800+ reviews at Feefo.com/reviews/Jayride

2,000+

Real transport companies reviewed by travellers

4.2 / 5.0

Average review score of all transport reviews

Feefo benchmarks e.g.: Expedia.com 4.3/5.0; Hotels.com 4.5/5.0

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18

BALANCE SHEET FY18

Funds from Pre-IPO, IPO, profitable revenue, growth in working capital, to fund Jayride’s current expansion strategy for 12+ months.

Balance Sheet Summary

Growth generates cash

• ij Payment received from travellers in advance of travel.

• ij Jayride holds payment until after travel, then pays transport company.

• ij Growth generates positive working capital for the company.

Cash position

• ij Cash position increased +364%.

• ij $854,000 Research and Development tax incentive receivable.

Non-current assets

• ij $554,000 of additional growth investment recognised as an intangible asset on the balance sheet after amortisation and R&D tax incentive adjustments.

Net asset position

• ij Net asset position increased by +771%

+364%

+771%

Net asset position

Cash position

	30-Jun-18	30-Jun-17	Movement
	AU$(000's)	AU$(000's)	%
Cash and cash equivalents	3,560	767	+364%	▲
R&D Tax Incentive	854	356	+140%	▲
Trade and other receivables	735	280	+163%	▲
Total current assets	5,149	1,403	+267%	▲
Non current assets	2,737	2,183	+25%	▲
Total assets	7,886	3,587	+120%	▲
Trade payables	1,092	759	+44%	▲
Future transport supplier payments	499	359	+39%	▲
Borrowings	-	425	-100%	▼
Other current liabilities	140	88	+59%	▲
Total current liabilities	1,731	1,631	+6%	▲
Non-current liabilities	45	1,253	-96%	▼
Total liabilities	1,776	2,884	-38%	▼
Net asset position	6,110	702	+771%	▲

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19

CASH POSITION FY18

Funds from Pre-IPO, IPO, profitable revenue, growth in working capital, to fund Jayride’s current expansion strategy for 12+ months.

Cash flow summary

	30-Jun-18	30-Jun-17	Movement
	AU$(000's)	AU$(000's)	%
Operating cash flows
Net receipts from customers	1,991	1,083	+84%	▲
Customer acquisition costs	-1,413	-845	+67%	▲
Operating and corporate costs	-2,318	-912	+154%	▲
Total operating cash flows	-1,740	-674	+158%	▲
Investing cash flows
Growth costs (including capitalised development costs)	-4,279	-1,348	+218%	▲
R&D Tax Incentive & EMDG	485	266	+82%	▲
Total investing cash flows	-3,794	-1,082	+251%	▲
Financing cash flows
Net cash from financing	8,350	1,828	+357%	▲
Total financing cash flows	8350	1828	+357%	▲
Cash movement
Cash inflow/outflow	2,816	72	+3811%	▲
FX Movements	-23	3	+867%	▼
Total cash inflow/outflow	2,793	75	+4678%	▲
Cash position	3,560	767	+364%	▲
R&D Tax Incentive Receivable	854	356	+140%	▲
Cash Position + R&D Tax incentive	4,414	1,123	+293%	▲

FY18 deployment of funds into growth

• ij Management strategy to deploy Pre-IPO and IPO funds into growth, ij 14 headcount of technology product and engineering team members, ij Significant new transport and service platforms launched in FY18, ij Operating and investing cash burn decreased every quarter.

FY19 forward outlook

• ij $854k R&D Tax Incentive received in Q1 FY19,

• ij Management strategy to continue to deploy current resources into growth, ij Resources available for growth are up to $4.4m +/- FY19 operating cash flows, ij These resources fully fund the current growth strategy for 12+ months.

FY20 forward outlook

• ij Expected receipt of additional R&D tax incentive for FY19 and beyond, ij $9m of Options from Pre-IPO available for exercise at $0.55.

254% Ratio of Operating Cash Flow to Cash + R&D	Cash burn decreasing quarter-on-quarter Operating and investing cashflows Q1 FY18 -1,657 Q2 FY18 -1,556 Q3 FY18 -1,409 Q4 FY18 -912

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20

TOTAL GROUP REVENUE AND PROFIT

New record Net Revenue and Gross Profit after Paid Acquisition (GPAPA) in FY18, with breakout performance in Q4.

Revenue

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1100K
Measure Names Measure Names Increase
Net Revenue 700K Gross Profit after Paid Acquisition (GPAPA) from R&D tax
1000K Commission and Fees from Passenger Trips Booked GPAPA from Passenger Trips Booked incentive and
EMDG grant
900K 600K Annual receipt of R&D tax incentive
800K R&D Tax Incentive receipt in Q1 FY19
500K
700K
and Export Market
600K 400K Development Grant
500K
300K Increase from
400K passenger trips
booked
300K 200K
200K
100K
100K
0K 0K
Net Revenue
Gross Profit after Paid Acquisition (GPAPA)
FY 2017 Q1 FY 2017 Q2 FY 2017 Q3 FY 2017 Q4 FY 2018 Q1 FY 2018 Q2 FY 2018 Q3 FY 2018 Q4 FY 2017 Q1 FY 2017 Q2 FY 2017 Q3 FY 2017 Q4 FY 2018 Q1 FY 2018 Q2 FY 2018 Q3 FY 2018 Q4
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21

APPENDIX

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22

WEBSITES FOR TRAVELLERS

B2C model: Jayride sells passenger transport direct to travellers at Jayride.com

Mobile-first responsive web app.

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Travellers
compare
and book
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www.jayride.com
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ENABLING TRAVEL BRANDS

B2B model: Jayride sells transfers through the world’s largest travel brands.

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FY 2017 Newly added in FY 2018
Technology platforms
Online Travel Agencies &
Travel Search Engines
Wholesalers & Brands
Travel Management
Companies
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24

TECHNOLOGY FOR TRANSPORT

World’s only geospatial extranet for transport companies enables the fastest, cheapest, and widest aggregation of airport transport information.

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Free
tools for
transport
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25

API FOR PARTNERS

Add airport transfers for new ancillary revenues.

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Examples
of Jayride
API in use
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26

RECENT SECTOR M&A ACTIVITY

HotelsCombined acquired by Booking Holdings

Stayz acquired by HomeAway Online Republic acquired by Webjet

A snapshot of acquisitions of Australian Online Travel Marketplaces and Meta-Search Engines by local and international acquirers.

Wotif acquired by Expedia

Dimmi acquired by TripAdvisor Viator acquired by TripAdvisor

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27

JAYRIDE MARKET CAPITALISATION

Shares and Options as issued

Shares on issue	(#)
Ordinary shares not escrowed	53,477,652
Ordinary shares under escrow until 29/01/2020 *	22,184,259
Total Shares on issue	75,661,911
Share Options on issue	(#)
Options from Pre-IPO under escrow until 18/12/2018 **	9,929,329
Options from Pre-IPO under escrow until 29/01/2020 * / **	6,405,409
Options from ESOP ***	2,378,198
Total Options on issue	18,712,936

Market capitalisation and EV		(AU$)
Market capitalisation (at 14/09/18 closing price)	($	33,669,550)
Cash and cash-equivalents (including R&D incentive receivable)	($	4,414,000)
EV	($	29,255,550)

Pro-forma Shares on a fully diluted basis, assuming Options exercise

Shares on issue	(#)
Total Shares on issue after Options Exercise	94,374,847

Market capitalisation and EV		(AU$)
Market capitalisation (at $0.553 Options exercise price)	($	52,189,290)
Cash through exercise of Options from Pre-IPO	($	9,033,110)
Cash through exercise of Options from ESOP	($	1,267,580)
EV	($	41,888,601)

Pro-forma section is illustrative only to show the dilutionary effect of Option exercise at the Strike Price of $0.553

• Shares and Options include those issued to Founders and Directors

• ** Options from Pre-IPO expire 31 March 2020, with an exercise price of $0.553. 16.3m total Options have a total face value of AUD$9m

• *** Options from ESOP expire 30 June 2023, vesting over 4-years, with an exercise price of $0.533

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28

ABOUT JAYRIDE

Jayride.com provides seamless transport experiences for travellers by allowing them to compare and book airport transfers around the world. With Jayride.com, travellers can compare and book with 2,000+ transport companies, servicing destinations from over 500+ airports across North America, Europe and the Pacific.

The Jayride.com platform aggregates airport transfer companies and distributes them to travellers at Jayride.com; and via partnerships with other travel technology platforms, travel agencies and wholesalers. These partners implement Jayride.com APIs to sell airport transfers and add new incremental ancillary revenue to their travel businesses.

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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29

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FOR MORE INFORMATION Please contact Rod Bishop, Managing Director corporate@jayride.com