WAY 2 VAT LTD. — Investor Presentation 2021

Sep 30, 2021

One Click to Claim Global VAT/GST Refunds WAY2VAT: Financial Technology September 2021

Accessible to All

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A fintech company automating global VAT/GST refunds through image processing and AI

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Key Investors
Australian
Fund
7
Managers
Africa’s largest bank by assets Leading Israeli VC Fund Multi National technology corporation One of Israel’s largest banks VC Platform with $200m AUM
Market potential London, TLV, Craiova Investments Enterprise Customers Patents
$20B 50 $19M 180 3
Employees
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Over 2X Revenue Growth YoY**

*Post IPO ** 2.11X YoY as of 30/6/21 *** VAT/GST Relief http://www.oecd.org/ctp/consumption/44560750.pdf

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Unclaimed Global VAT/GST Refunds - US$20 Billion Market , annually *

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$8B 40% Enterprise

60% $12B

SMB

Every year SMBs give up on reclaiming $12B in VAT. Without a fully automated solution, SMBs lack the manpower or skill set to recover these expenses. W2V with its end-to-end automated VAT recovery solution can work with SMBs to help them recover their unclaimed VAT.

It is anticipated that between US$20 billion to US$30 billion in VAT is unclaimed / unrecovered every yearVAT/GST Relief http://www.oecd.org/ctp/consumption/44560750.pdf

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In today’s corporate environment, CFOs frequently give up on VAT/GST refunds due to the manual process required to reclaim VAT/GST, language barriers, complex tax codes, differential VAT/GST which varies based on the type of expense, and regulatory differences. Most organizations that do apply for VAT/GST refunds ignore invoices below $50, as the expense involved in applying for the refund outweighs the value of the refund. Businesses require an automated image processing system that can accurately and quickly scan invoices and apply for VAT/GST refunds.

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Global travel is rebounding, especially in WAT2VAT’s key market of Europe

Information updated on 10/08/21

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Online public information from NASDAQ < https://www.nasdaq.com/>, NYSE < https://www.nyse.com/>, ASX < https://www2.asx.com.au/>

Solution

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Global Local AP (Supplier) VAT VAT VAT VAT refunds in any language and format

Holder of multiple AI technology patents

Differential VAT refund automation

Proprietary image-processing technology

85% accuracy in automated invoice recognition

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Solution

AIA

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Computer

Mobile app AIA Invoice Automatic Invoice Analysis Scanner

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The patents enable:

1. Full AI-driven automation 2. Complete and accurate image processing using a human-level perception of each type of invoice

		Expense Management System	Core of the AIA technology:	Priority date: 10/2015
Family	1	Based Upon Business Document Analysis	Image analysis and language analysis	US Patent (10,019,740) Granted: 7/2018 Continuation app filed: 5/2018
Family	2	Neuronal Visual-Linguistic Data Retrieval from an Imaged Document	Visual-Linguistic Deep Neural Network for information extraction from invoices	Priority date: 3/2018 US Patent Allowed: 10/2020
		Document Image Analysis	Graph convolution network	Priority date: 6/2019
Family	3	With Cardinal Graph Convolutional Networks	for information extraction from complex documents	PCT ISR Accepted: 11/2020 US Patent Application: 12/2020
		Document Image Analysis by	Domain-transfer learning for
Family	4	Alignment of Document	matching images to expense	Priority date: 7/2020
		Image Set to Spreadsheets	sheets

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*** Multi year 20¢ on the contracts dollar**

On every $1M claimed we receive $200K

US$5.5M

VAT refunds in 2020

US$1.03M

Net Revenue in 2020

*Some of the contracts are binding for 2-3 years, others are annual contracts with automatic renewal

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Australia	Austria	Belgium	Bulgaria	Bahrain	Cyprus
Croatia	Canada	C. Republic	Dubai	Denmark	Estonia
Finland	France	Germany	Greece	Hungary	Iceland
Ireland	Italy	Japan	Latvia	Lithuania	Luxembourg
Malta	Netherlands	New Zealand	Norway	Poland	Portugal
Romania	Saudi Arabia	Serbia	Slovakia	Slovenia	South Korea
Spain	Sweden	Switzerland	Taiwan	UK
-27% 8%	VAT/GST Rate

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Enter rise Market p

Direct sales through our UK-based office

SMB Market

Indirect sales through technology partners that allow direct and quick access to customers Worldwide

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WAY2VAT has signed contracts with 20 accounting firms representing 400+ potential clients using Xero, Sage and Receipt Bank in the UK

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VAT HUB
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Travel and Expense (T&E) Management Interfaces ERP and Accounting Interfaces
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Customer

A leading global credit card company

Challenge

The existing solution provider (one of the market leaders) was unable to fully automate VAT refunds for all types of invoices without regulatory errors and/or human errors for their customers

Solution

WAY2VAT provided a fully automated, highly accurate AI and image processing VAT Refund solution

Results

Significant increase in VAT refunds worldwide, automatically and without human error with millions of USD of VAT refunds

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Strong growth despite the pandemic, with CY20 up 153% year-on-year to US$1.03m and H1 CY21 up 174% year-on-year to US$696K (unaudited)

US$ ’000	Year ended	Year ended	Year ended	Half Year ended
	31 Dec 2018	31 Dec 2019	31 Dec 2020	30 June 2021
REVENUE	287	408	1,034	696
COST OF REVENUE	139	129	177	127
GROSS PROFIT	148	279	857	569
EXPENSES
RESEARCH & DEVELOPMENT	(1,704)	(1,460)	(1,406)	(558)
SELLING & MARKETING	(1,020)	(1,171)	(1,183)	(817)
GENERAL & ADMINISTRATIVE	(618)	(1,612)	(1,553)	(1,416)
TAX, FINANCE INCOME/COST	(10)	390	984	*(2,066)
PROFIT/LOSS FOR PERIOD	(3,204)	(3,574)	(2,301)	(4,290)

*Includes US$1.8M non-cash increase in the fair market valuation of existing convertible notes, all of which have since converted to shares upon completion of the IPO.

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AI & image processing capabilities
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• Private company- Way2Vat estimates from public and private sources, valuations not published

Amos Simantov / Founder and CEO

More than 20 years experience in senior management, including CEO and VP Sales at global high-tech companies

Proven experience leading companies to financial success, including exits, mergers and acquisitions LongNet - $50M exit

RiT – Currently traded on NASDAQ Sintec Media - $400M exit

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Aviv Barshaf VP Finance

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DR. Roy Shilkrot CTO
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Ely Marcovich VP BIZ DEV
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Adoram Gaash

Non-Executive Chairman

Adoram has a track record of 20 years as a venture capitalist and in startups leadership. Prior to founding Moneta VC, he founded StageOne VC, which invested in some 20 startups and resulted in seven exits. Adoram also worked for Silicon Valley based

Investment-bank: GrowthPoint Technology Partners.

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David Haim Assia

Non-Executive Director

David is a serial entrepreneur and angel investor, being one of the pioneers of the vibrant Israeli high-tech software industry. David has founded multiple global companies that have listed on the NASDAQ and Tel-Aviv Stock Exchange. David is currently the Chairman of iAngels, a leading crowd funding platform, and is an active director, advisor and investor in multiple high-tech companies.

Amos Simantov

Executive Director, Founder & CEO

Amos has more than 20 years of experience as an executive – including as CEO, and VP Sales of major global high-tech enterprises such as SintecMedia/Operative, Rit Technologies (A NASDAQ Company) and Lognet. Amos has a track record in leading companies to economic success, including several exits and successful M&As.

Robert Edgley (incoming) Non-Executive Director

Robert brings over 30 years of financial, banking and director experience including establishing RBS’s Australian Capital Markets business and spent 4 years as MD of Sales Asia Pacific. Rob has sat on a

number of boards including Praemium (ASX:PPS) a wealth software company, EVZ (ASX:EVZ) an engineering services business and SelfWealth (ASX:SWF) a broking and investment platform.

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David Buckingham (incoming) Non-Executive Director

David has had an impressive career which includes senior roles at PWC, VirginMedia and iiNet. Most recently David was Group CEO and Managing Director of education company, Navitas (ASX:NVT), where he oversaw its $2.3B sale to private equity firm BGH Capital.

Ayelet Nahmias Verbin

Non-Executive Director

Ayelet has a versatile career in the business sector as well as the public sector. She served as a board member in several leading companies. A lawyer since 1996, Ms Nahmias-Verbin is trained and specialized in corporate law and the capital markets and is considered a leading expert in corporate governance. Former Parliament member in the Israeli Knesset.

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THANK YOU

NOT AN OFFER OF SECURITIES

This document has been independently prepared by Way2Vat Ltd (W2V) and is provided for informational purposes only.

This document does not constitute or contain an offer, invitation, solicitation or recommendation with respect to the purchase or sale of any security in W2V. This document does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in any jurisdiction (in particular, the United States), or a securities recommendation. This document is not a prospectus, product disclosure statement or other offering document under Australian law or any other law, and will not be lodged with the Australian Securities and Investments Commission.

Summary information

This document contains a summary of information about W2V and its activities that is current as at the date of this document. The information in this document is general in nature and does not purport to be complete or to contain all the information which a prospective investor may require in evaluating a possible investment in W2V or that would be required in a prospectus or a product disclosure statement prepared in accordance with the Corporations Act 2001 (Cth) (Corporations Act).

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• Statements in this document are made only as of the date of this document unless otherwise stated and the information in this document remains subject to change without notice. No responsibility or liability is assumed by W2V or any of its affiliates for updating any information in this document or to inform any recipient of any new or more accurate information or any errors or mis-descriptions of which W2V and any of its affiliates or advisers may become aware.

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