SMART PARKING LIMITED — AGM Information 2018

Nov 8, 2018

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Smart Parking Limited (ASX:SPZ) AGM Presentation 9 November 2018 CEO Paul Gillespie

smartparking.com

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Executing long term growth strategiesWorld-leading technology for parking design, World-leading technology and first-class managed services.development and management

Management Services | UK Management Services | UK FY18 Technology | Global FY18 ~~Proftable and operates exclusively in the UK. Specialises in managing~~ 78% car parks on behalf of retail customers, land owners and managing % Revenue 22% ~~agents and currently generates 85% of Smart Parking’s revenue.~~ Annual Parking Breach Notices New installed sensors Key operational metric 392,026 Technology | Global 13,700 Designs, develops and specialises in on-street and off-street parking Year on year increase 33% technology and software, enabling clients to manage parkin 83% g efficiently and cost effectively. Critical to competitive advantage in

• the Services business and to the future growth of Smart Parking in the smar t cities and IoT market place.positions • Significant market opportunities intact with solid operations plan.

• Established strong markesmar t positions and market leading technology.

• Year of consolidating and strengthening market position.

• Executing long term growth strategies.

FY18 AGM Presentation | smartparking.com | PAGE 2

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FY18 Review

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FY18 Results | Group Financials (m)

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31.0
Smart Parking Group
| FY18 Strong revenue growth and profitability
24.8
25% Revenue $31.0m up 25%
370% Adjusted EBITDA $4.1m up 370%
10% Adjusted EBITDA Margin Up from 3.5% to 13.1%
219% NPAT Up $3.1m to $1.7m
4.1
3.5
1.7
Record operating cash flows 0.9 0.7
429% $3.5m up 429% (1.4)
FY17 FY18 FY17 FY18 FY17 FY18 FY17 FY18
Including interest received Revenue Adjusted EBITDA NPAT Operating Cash Flow
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FY18 AGM Presentation | smartparking.com | PAGE 4

FY18 in review

• | Smart Parking Group

• Growth in revenue, EBITDA, NPAT and operating cash flow demonstrate positive trend and successful strategy.

• UK business challenges in second half now addressed and SPZ building and investing for the future.

• New high calibre UK management team recruited. Investing for growth

• strengthening SPZ for scale and international market opportunities.

• Technology wins across market verticals delivering positive results.

• Investment in global operational capability to capture market opportunity.

• Technology delivery bringing new smart city products to the global market.

• System improvements increase ANPR camera recognition rates across UK estate, and new site roll out continues to plan.

FY18 AGM Presentation | smartparking.com | PAGE 5

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FY18 Financial Update

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Management services

| UK earnings growth

14% Revenue $24.0m up 14% on FY17

39% Adjusted EBITDA $6.5m up 39% on FY17

4.9% Adjusted EBITDA Margin Up from 22.4% to 27.3%

Record operating cash flows 66% $6.2m up 66% compared to FY17.

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FY18 Results | Parking Management Financials (m)

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24.0
21.0
6.5
6.2
4.7
3.7
FY17 FY18 FY17 FY18 FY17 FY18
Revenue Adjusted EBITDA Operating Cash Flow
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FY18 AGM Presentation | smartparking.com | PAGE 7

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FY18 Results | Technology Financials (m)

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8.9
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Technology

| Record results proves global technology adoption

72% Revenue $8.9m up 72% on FY17

74% Adjusted EBITDA ($0.6m) improved 74% on FY17

31% Recurring revenue $2.7m up 31% on FY17

Improved operating cash flows 16% ($1.2m) up 16% compared to FY17.

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5.1
(0.6)
(1.2)
(1.5)
(2.2)
FY17 FY18 FY17 FY18 FY17 FY18
Revenue Adjusted EBITDA Operating Cash Flow
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FY18 AGM Presentation | smartparking.com | PAGE 8

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FY19 Business Update

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Smart Parking Group

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• | Investing for long term sustainable growth

• FY19 will be a year of investment and consolidation - investing for significant growth opportunities with strengthened sales and operations teams and technology capabilities.

• Installation of 42 new sites in Q1 in the UK is in line with plan, however this has been offset by 9 site losses following the impact of second half UK business challenges.

• Continued technology contract wins across all SPZ home markets with clear and disciplined focus to grow recurring revenue line.

• As of October 2018, FY19 committed technology recurring revenue up 20% on FY18 actual.

FY18 AGM Presentation | smartparking.com | PAGE 10

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Management Services

• New site installation roll-out on track and in line with management expectations.

• The growth is offset by the loss of some key sites due to second half FY18 customer service issues.

• Management is focused on actively managing all sites with churn expected to normalise through FY19.

• High calibre new management team in post with clear focus on executing disciplined growth plan.

• Investment in sales team with two new sales heads recruited to drive sales growth and build pipeline.

• Strengthened account management and customer service teams to support growth.

Q1 FY19 | ANPR Sites

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42
269
(9)
236
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Sites at New live sites Removed sites Sites at
30 June 2018 30 September 2018
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• Addressable market of 45,000 sites with 15,000 suitable for ANPR installations ensure long-term runway for growth.

FY18 AGM Presentation | smartparking.com | PAGE 11

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Parking breach notices

• Installation timing and the removal of 9 sites has impacted the number of PBNs issued in Q1.

• Modest increases in customer revenue share, though economic payback remains compelling.

• Refocused culture to drive a positive customer experience and long term, sustainable contract engagements.

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Parking Breach Notices Issued

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107,504
104,115
100,968
97,406
83,001
Q1 FY18 Q2 FY18 Q3 FY18 Q4 FY18 Q1 FY19
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FY18 AGM Presentation | smartparking.com | PAGE 12

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UK parking market news

• | Macquarie bank acquisition validates market appeal.

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• SPZ biggest competitor in the ANPR enforcement market, Parking Eye acquired by Macquarie Bank.

• Transaction completed in July 2018 for a price of £235m.

• Validates SPZ’s UK growth strategy.

• Demonstrates the growth potential of the UK parking enforcement market place.

• UK parking enforcement market is fragmented, this transaction shows consolidation is under way.

FY18 AGM Presentation | smartparking.com | PAGE 13

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FY19 Management services

| Growth in customer base of ANPR sites set to continue into FY19

• Strong focus on capturing market share in the ANPR parking enforcement market place.

• Total available market 45,000 sites in UK, 15,000 suitable for ANPR model.

• Increased investment in sales, operations & technology throughout FY19.

• Execute strategy of win, install and operate 15 new ANPR sites per month.

• Keen operational focus on site go-live process and ANPR camera accuracy rate.

• Pipeline of new sites and clients growing beyond 200 locations.

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FY18 AGM Presentation | smartparking.com | PAGE 14

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Technology

• | SPZ tech enables customers to use accurate data to make informed business decisions

• Investment in sales leadership to fuel growth.

• Clear pathways to profitability with smart city technology adoption.

• $2.4m in firm orders and $3.2m in recurring revenue for FY19 so far. Includes UK ANPR technology licence fee.

• Committed recurring revenue of $3.2m up 20% on FY18 actual.

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Technology Recurring Revenue

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3,160
2,645
2,121
1,190
FY16 FY17 FY18 FY19
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*Forecast recurring revenue

FY18 AGM Presentation | smartparking.com | PAGE 15

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UNITED KINGDOM
EUROPE
NORTH
AMERICA
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• Smart city growth continues | Smart Parking focused on long-term growth globally.

• Adoption of smart city technology continues across home markets (Australia, UK, NZ).

• Disciplined focus on opening new markets in Europe & North America with first orders already received.

• Market sizing research from Navigant indicates the smart parking market will grow to $1.78b by 2026.

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AUSTRALIA
NEW ZEALAND
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• Commitment and continued investment in R&D ensures SPZ remains the technology market leader.

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FY18 AGM Presentation | smartparking.com | PAGE 16
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SPZ technology

• | Future ready technology differentiates Smart Parking.

• SmartCloud Platform delivered and operational processing 1.6 million IoT messages per day and growing.

• Live streaming real-time information that allows users to make accurate, informed business decisions.

• Open standards allow connection to any IoT device network bridging to broader revenue streams.

• Smart Parking app technology delivering payment, guidance, information and live notifications.

• AI and Machine Learning technology built into the SmartCloud core preparing SPZ for the future.

FY18 AGM Presentation | smartparking.com | PAGE 17

SPZ winning awards

• | Smart Parking took home the award for Parking Organisation of the Year at the 2018 Parking Industry Awards

• Smart Parking was selected by an independent panel of industry experts after proving a market leading approach around people, technology, customer service and industry expertise.

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FY18 AGM Presentation | smartparking.com | PAGE 18

FY19 growing technology customer base

• | Continued growth within all operating territories, and expansion into new markets.

• Solid start to FY19 supported by new customer wins.

• On track with execution of technology growth strategy.

• Investing in sales and tech capabilities to drive scale and increase recurring revenues.

• Global market opportunity recognised, with disciplined roll-out approach focused on Australia, NZ, UK, Europe and US.

• Positive growth trajectory.

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FY18 AGM Presentation | smartparking.com | PAGE 19

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FY19 Strategy and Outlook

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Conclusions and growth

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• In FY18 SPZ established strong market positions and market leading technologies.

• We addressed UK business challenges and strengthened SPZ for scale and international market opportunities.

• We grew revenues, EBITDA, NPAT and operating cash flow demonstrating positive trends and momentum.

• FY19 is a year of investment and consolidation - investing for significant growth opportunities with enhanced sales and operational teams, technology capabilities and a reinvigorated, customer focused culture.

• Q1 FY19; 42 new ANPR sites in line with plan. PBN issuance affected by the loss of some key sites due to H2 FY18 customer service issues.

• Substantial market opportunities affirmed - 15 new ANPR locations expected per month, SPZ well positioned to capture greater share of 15,000 site target market.

• Technology revenues continue to grow with new contract wins. FY19 committed recurring revenues already up 20% on FY18 actual.

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Contact

Paul Gillespie Chief Executive Officer paul.gillespie@smartparking.com

Richard Ludbrook Chief Financial Officer richard.ludbrook@smartparking.com

smartparking.com

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Supplementary Information

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New technology development

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Technology overview

• | Delivering real-world IoT and smart city solutions.

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SPZ Smart City Platform – SmartCloud – delivered, operational and generating revenue.

SPZ new guidance and payment app delivered and set to ‘Go-Live’ and generate revenue in Q2 FY19. Next generation sensor delivered and operational in 10 locations.

Smart city and IoT capability roll out continues in local government clients including Moonee Valley City Council, City of Adelaide, Moreton Bay Regional Council, Cairns Council, City of Greater Geelong and City of Casey.

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FY18 AGM Presentation | smartparking.com | PAGE 25

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IoT Partnerships

• | Smart Parking continues to partner with industry heavyweights such as Google and Telstra.

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SPZ CTO John Heard co-hosted four IoT conference speaker sessions.

This has achieved high visibility within Google, and has led to further sales opportunities.

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Telstra relationship continues to strengthen with further orders for Moreton Bay, Cairns and Sunshine Coast and Greater Geelong Councils.

FY18 AGM Presentation | smartparking.com | PAGE 26

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Management services: How it works

• | Parking management improving customer satisfaction and revenue generation.

• ANPR | Automatic Number Plate Recognition

• Pay & Display | ANPR Linked Automated Payment System

• Site Surveys | Real-time information, analysis and trend data

• Parking Attendants | Trained and qualified staff

• DPC (Disabled, Parent and Child) | Protecting the vulnerable

• Marshaling | Trained, professional and customer-friendly marshals

Validation & payment Machines facilitate pay & walk or validate parking

Motorist

Enters the carpark at the defined entrance

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ENTRY TIME 15:23 ABC321
EXIT TIME 16:48 ABC321
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SmartCloud Automates information and provides detailed reporting

ANPR Recognition Camera identifies the number plate of cars entering and leaving the premises

FY18 AGM Presentation | smartparking.com | PAGE 27

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ANPR: How it works

| Automatic number / license plate recognition (ANPR) is a reliable, cost effective off-street parking management solution.

It is proven to serve a wide range of industries including supermarkets, retail, hotels, hospitals and leisure centres. Smart Parking’s ANPR solution ensures greater compliance and increased parking revenue.

• Ticketless, barrier-free system, parking areas that are managed 24/7

• Automatically generated and issued parking charge notices

• Increased security, comprehensive reporting and account management

FY18 AGM Presentation | smartparking.com | PAGE 28

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S martCloud
API Serv i ce
Technology: How it works
Interface Pac k s
| Smart Parking’s technology provides
effective parking management solutions
around the world.
SmartZones
On-Street Parking Off-Street Parking
SmartApp
SmartSpot Overhead Guidance
ANPR Camera
Variable
Message Signs
+1
Pay & Walk
In-Ground Infrared Sender
Marshall Handheld Car Counter
Sensor
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Smart Parking app

• | The Smart Parking app and its customised Miami and Cardiff apps delivered

Features and benefits:

• Available for both Android and iOS.

• Provides detailed information around hours, tariffs and bay types.

• Shows real-time availability of car park bays.

• Harnesses the power of Google Maps to provide distance and directions to suitable bays.

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• Payment function will allow cashless payment and remote top-ups.

FY18 AGM Presentation | smartparking.com | PAGE 30

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Glossary

Adjusted EBITDA – The Board assesses the underlying performance of the Group based on a measure of Adjusted EBITDA which takes into account costs incurred in the current period but not expected to occur in the future.

EBITDA – represents Earnings before interest, taxation, depreciation and amortisation.

Smart Parking legal disclaimer

The release, publication or distribution of this presentation in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this presentation is released, published or distributed should inform themselves about and observe such restrictions.

This presentation does not constitute, or form part of, an offer to sell or the solicitation of an offer to subscribe for or buy any securities, nor the solicitation of any vote or approval in any jurisdiction, nor shall there be any sale, issue or transfer of the securities referred to in this presentation in any jurisdiction in contravention of applicable law.

Persons needing advice should consult their stockbroker, bank manager, solicitor, accountant or other independent financial advisor. Certain statements made in this presentation are forward-looking statements. These forward-looking statements are not historical facts but rather are based on Smart Parking Ltd current expectations, estimates and projections about the industry in which Smart Parking Ltd operates, and its beliefs and assumptions. Words such as “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” and similar expressions are intended to identify forward - looking statements.

These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors, some of which are beyond the control of Smart Parking Ltd are difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. Smart Parking Ltd cautions shareholders and prospective shareholders not to place undue reliance on these forward-looking statements, which reflect the view of Smart Parking Ltd only as of the date of this presentation.

The forward-looking statements made in this presentation relate only to events as of the date on which the statements are made. Smart Parking Ltd will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances or unanticipated events occurring after the date of this presentation except as required by law or by any appropriate regulatory authority. Non-IFRS financial information has not been subject to audit or review.

FY18 AGM Presentation | smartparking.com | PAGE 31