SMART PARKING LIMITED — Interim / Quarterly Report 2022

Oct 28, 2021

Q1 FY22 Business Update

29 October 2021 CEO Paul Gillespie

smartparking.com

Q1 FY22 Update

up 19% 190% 738 Total sites

*As of 30 Sept 2021 compared to PCP

Adjusted EBITDA $2.5m up

*Compared to PCP

Growth in parking breach notices up

*Q1 FY22 compared to PCP 54%

Cash of $10.9m

*At 30 Sept 2021

*Full year FY21 $1.1m

Business Update

| Strong growth trajectory as UK restrictions ease and expanding addressable markets in New Zealand and Australia

• UK Parking Services business experiencing rapid growth as COVID-19 restrictions ease, with all key metrics at or around pre-pandemic levels.
• Completed acquisition of Enterprise Parking Solutions with 68 new sites.
• 738 total group sites under management as at 30 September on track for 1,000 sites under management by June 2023.
• NZ Parking Services business growth strategy temporarily impacted by COVID-19 restrictions. 11 sites now installed, scope for significant growth.
• Pandemic-related restrictions also have temporarily impacted roll-out of new sites in Australia. Growth to resume as lockdowns lift, highly attractive market.
• Technology order book intact with $3.3m of booked orders predominantly to be recognised in H2 FY22.
• Positive outlook for further growth in Q2.

Recovery under way

| Revenue growth and margin expansion

Adjusted EBITDA % Margin Chart

• All time record margin.
• Scale benefits driving operational gearing.
• Favourable margin mix in Q1.
• High incremental margin on additional PBNs.

2,459

(Unaudited)

• Overheads up 38% on PCP with increased headcount, staff returning from furlough, reinstatement of salaries, and from increased activity.

191% on Q1 FY20 (pre-COVID) **Adjusted EBITDA up 190%**on PCP,

Positive free cash flow

| Strong balance sheet to fund growth

Cash Flow Waterfall (000s)

• Cash flow positive.
• Positive operating cash flow of $3.0m.
• Cash on hand of $10.9m as at 30 September 2021.
• Growth capex of $0.9m including ANPR camera equipment which will benefit future periods.
• Average payback for UK ANPR and Managed Services investment is 7-9 months.
• Total capex investment in FY22 to be $2-3m to capitalise on significant growth opportunities.
• Acquired Enterprise Parking Solutions for $1.5m in August 2021. Disciplined evaluation of new M&A opportunities.

Management services – growing the estate

389 286 Sites at 30 Jun 2018 Sites at 30 Jun 2019 496 Sites at 30 Jun 2020 FY21 Q1 FY22 576 56 128 85 (5) 619 738 (13) (9) H2 FY21 Additions H2 FY21 Removals Sites at 30 June 2021 Q1 FY22 Additions Q1 FY22 Removals Sites at 30 Sept 2021 H1 FY21 Additions H1 FY21 Removals Sites at 31 Dec 2020 APAC (9) APAC (6) UK (51) UK (50) EPS (68) Site Reconciliation Growth target: 1,000 sites under management expected by June 2023

UK ANPR roll out continues

• 51 new sites installed in Q1 FY22 with 9 removed.
• 68 new sites from acquisition of Enterprise Parking Solutions.

Growing APAC managed services

• 15 sites in New Zealand/Australia installed (as at 30 September)
• Installations heavily impacted by country and regional lockdowns.

Net new sites added in Q1 FY22 119

Sites growth target by June 2023 – reaffirmed 1,000

Net new UK sites expected in FY22 & FY23, with additional APAC site installations 180

Growth expected from a diversified client mix with a TAM of

45,000

sites across the UK

40% 60% Multiple growth drivers

20% | Significant recovery in PBNs, new record level

14/03 21/03 28/03 04/04 11/04 18/04 25/04 02/05 09/05 16/05 23/05 30/05 06/06 13/06 20/06 27/06 04/07 11/07 18/07 25/07 01/08 08/08 15/08 22/08 29/08 05/09 12/09 19/09 26/09 03/10 10/10 17/10 24/10 31/10 7/11

MAR-20 APR-20 MAY-20 JUN-20 JUL-20 AUG-20 SEP-20 OCT-20 NOV-20 Transport for London National Rail Motor Vehicles Department of Transport

Cars In 7 Day Rolling Smart Parking

FY22 growth under way

• PBN growth up 54% on PCP (up 31% on Q1 FY20 pre-COVID)
• Growing vaccination rates across the UK adding to consumer confidence
• Sales team focussed on delivering 180 net new sites in the UK

Enterprise Parking Solutions acquisition

| Building scale in UK parking management

• Acquired Enterprise Parking Solutions (EPS) in August 2021 for $1.5m funded from cash reserves
• Integration well under way sites being migrated to SPZ systems and platform, due to be completed by December 2021
• 68 sites under management
• Q1 revenue of $0.5m, up 196% on PCP
• Acquiring the gross profit with minimal growth in overheads
• Earnings accretive EV/EBITDA effective multiple of 1.0 to 1.3 based on expected revenues (subject to no future COVID-19 restrictions) and cost synergies

FY22 priorities

• Continued execution of UK growth strategy 180 net new sites in FY22.
• Grow new territories with ANPR model in countries with appropriate jurisdictional framework – evaluating European opportunities.
• NZ Parking Services business underway with 11 sites under management and a focus to achieve a total of 75 sites by June 2023, at an attractive return on investment.
• Australian Parking Services business underway with 6 sites under management.
• Leverage new technology products into new and existing customers.
• Integration of EPS complete in H1 and successfully leverage new customer relationships for growth.
• Well capitalised to fund further strategic acquisition opportunities in new territories.

* All forward-looking statements can be subject to change

Thank you.

Paul Gillespie | Group CEO | paul.gillespie@smartparking.com Richard Ludbrook | Group CFO | richard.ludbrook@smartparking.com

smartparking.com