1H20 highlights

▪ Record 1H revenue result following 5 year commitment to strengthening revenue mix

▪ Mobile Technologies International and Gold Coast Cabs performing above post acquisition expectations

▪ Fully digitised Cabcharge Payment offering gaining traction

▪ Launch of new Network/Bureau services in Mackay, Gold Coast, Tweed Heads, Perth and extending national footprint

▪ Strong organic growth in new Champ Network established in Perth during 1H20 from 0 to 223 cars

▪ Accelerating growth in handheld payments with Spotto growth up 22%

▪ Preferred Driver program launched giving Passengers more and control

▪ Installation of next generation in-car equipment

▪ App bookings up 19%

2 1H20 Overview

A2B grew revenue, improved its services and enhanced the value propositions of its core products. 13cabs expanded its national personal transport footprint and MTI extended its global technology reach with new clients. Additional investment in marketing came at a short term cost but contributed to a strengthened 13cabs brand and growing use of digital booking channels (13cabs app up 19% and 13cabs mobile web up 66%).

Competition with rideshare continued in 1H20 although there are now signs that Taxi patronage has stabilised. Our determination to raise the bar with higher qualifying standards for Driver professionalism and for 13cabs and Silver Service vehicles coincided with a temporary impact of short term tactics amongst smaller Taxi network and payment providers who are less invested in market changes. Meanwhile A2B was impacted by an aggregate $1.1m from adverse changes in Taxi licence markets, particularly in NSW.

Government policy changes in NSW have deferred the full benefits of our investment in Safety cameras for up to 12 months while 88 Wheelchair Accessible Taxis were excluded from the fleet in . Having committed to a national model for Network Services, A2B made a determination to introduce pricing alignment for its affiliated fleets in Queensland with an impact on Network Subscriptions that has now cycled through.

The quality of A2B’s offerings sets the stage for a strengthening second half noting accelerating uptake of A2B’s offerings during 1H20 and recently implemented efficiency measures beginning to deliver benefits to the group.

3 Financial summary Record revenue result tempered by one off impacts and investments in service quality, safety and brand

1 Revenue Underlying EBITDA ▪ Record revenue of $105m up $4m or 4% on pcp ▪ Revenue growth supported by strategic acquisitions $ m $105m 16.3 ▪ 1H20 underlying EBITDA reduction of $2.1m 1H19 $101m 1H19 $18.4m ▪ 1H20 includes adoption of AASB 16 up 4% vs pcp down 11.2% vs pcp – Impact on EBITDA +$1.6m Underlying NPAT1 Net Cash – Impact on NPAT -$0.3m ▪ Statutory NPAT of $3.6m including adverse AASB 16 impact of $0.3m $4.6m $5.9m ▪ Continued strength in operations supporting interim dividend of 4 cents As at 31 December 2019 fully franked 1H19 $7.4m ▪ Total fares processed $505m down 3.2% on pcp down 37% vs pcp – Improvement in total turnover visible in 2Q20 and leading into Interim Dividend Taxi Fares Processed January – Handheld growth continued up 22% on pcp $ m 4 cents 505 ▪ Net cash position of $5.9m and to $50m finance facility 1H19 4 cents 1H19 $521m down 3.2% vs pcp

1. From continuing operations. Please see slide 21 for statutory and underlying financial summary

4 Revenue Building a diversified revenue mix

▪ Mobile Technologies International and Gold Coast Cabs contributed $7.2m to revenue ▪ Changes in Government Regulation during the last 5 years have directly growth in 1H20 impacted annual revenues by ~$50m ▪ Network Subscriptions temporarily impacted by strategic commitments to service quality ▪ A2B has repositioned the business, replacing historic reliance on service and fairness fee and Taxi licence income with a heathier mix of revenues generated - Pricing alignment implemented in Qld fleets in recognition of national model across a broader footprint in the personal transport and payment - Cycling through of higher vehicle standards and application of age limits industries. A2B has now delivered 2 successive record revenue results. ▪ Handheld Payment channel (Spotto) delivering strong growth up 22% on pcp ▪ Recurring revenue as a percentage of total revenues has increased from 44% to 68% and we anticipate the positive trend to continue 5 Payments turnover Changing payments revenue mix

▪ Pressure on payments turnover experienced in 2H19 continued +0.6% +1.1% -3.2% in the initial months of FY20 ▪ Signs of improvement visible in 2Q20 and in January 2020

▪ Handheld channel (Spotto and Giraffe) continues to accelerate with growth of 22% for 1H20 and up 30% in 2Q20

515 521 505 ▪ In 1H20, although from a small base, 13cabs app and contact center payments more than doubled

▪ Recurring rental income increased by 39% to

356 $0.5m with 6% of total fleet now on a rental plan 352 345

▪ Cabcharge volumes were under pressure in the first half with declines primarily visible in NSW

Taxi fares processed $m processed Taxifares ▪ Upskilling of Cabcharge sales capability underway

163 165 160 ▪ Cabcharge Digital pass growth continued quarter on quarter up 55% in 1Q20 and up 41% in 2Q20 1H18 1H19 1H20

CAB a/cs Bank Issued & 3rd Party

6 Network subscriptions Expansion of national footprint continues

Growth on pcp

▪ Expansion into new geographies continued generating +19.2% +11.4% +0.3% further opportunities to benefit from scale and brand strength. In 1H20 we launched in the following markets:

- Gold Coast & Tweed Heads (Acquisition) 12,000 - Perth (Organic) - Mackay/Airlie Beach/Whitsundays (Bureau) 9,728 9,757 - Albury Wodonga (Organic) 10,000 8,729 ▪ Key strategic milestone achieved by launching in the Perth market. Launch exceeded expectations with 223 vehicles on 8,000 our network as at 31 January 2020

▪ Victorian market is maturing following a period of rapid 6,000 growth

▪ New restrictions on wheelchair accessible taxis in NSW had Affiliated fleet (v fleet ehicles) Affiliated 4,000 downward pressure on fleet in 2Q20

▪ We continue to assess growth opportunities in new markets to 2,000 further expand national coverage and brand presence

▪ Commitment to quality through fleet standards resulting in 0 transition of inferior vehicles out of affiliated fleet Dec-17 Dec-18 Dec-19

7 Financial summary Revenue growth tempered by long term investments and one off 1H20 impacts

Increased investment in brand and service quality coupled with movements in Taxi licence plate pricing and government restrictions on Wheelchair Accessible Taxis in NSW had downward pressure on margins.

1H20 1H19 Change over Underlying basis excluding significant items* Key contributors impacting 1H20 EBITDA performance: $m $m PCP Revenue 105.0 101.0 4.0% ▪ Marketing spend increased to $8.1m (up $1.5m on pcp) Other income 0.1 0.2 ▪ Transition of aged 13cabs vehicles to CHAMP (-$0.9m vs pcp) or Expenses (88.7) (82.8) to third party networks with lower standards EBITDA 16.3 18.4 (11.2%) Depreciation & Amortisation (9.1) (7.2) ▪ Implementing price parity for Qld fleets (-$0.6m vs pcp) EBIT 7.2 11.2 (35.2%) ▪ Margin reduction in managed plate portfolio (-$1.1m vs pcp) Net interest (0.6) (0.3) Profit before tax 6.6 10.8 (38.8%) ▪ Increased communication costs (-$0.7m vs pcp) Income tax (2.0) (3.4) NPAT 4.6 7.4 (37.3%) ▪ Contribution of MTI and Gold Coast acquisitions (+$1.2m vs pcp) - MTI $+0.8m EBITDA margin 15.5% 18.2% - Gold Coast +$0.4m EBIT margin 6.9% 11.1% Earnings per share 3.8 cents 6.1 cents ▪ Adoption of AASB 16 Leases (+$1.6m)

*1H20 underlying results include the adoption of AASB 16 Leases. A2B has adopted AASB 16 using the modified retrospective approach with no restatement to comparative information. Please refer to slide 21 for reconciliations of statutory and Pre-AASB 16 results.

8 Underlying EBITDA 1H20 vs 1H19

25

Increased marketing Increase primarily driven by activity nationally increased communication 1.2 costs 20 18.4

16.3 (2.0) 1.6 (1.4) 14.7 15 (0.7)

(0.8) EBITDA $mEBITDA ▪ Award increase +3% or MTI $0.8m $0.5m Gold Coast Cabs $0.4m 10 ▪ Total employee like-for-like expenses +2.4%

Key drivers ▪ Plate income - $1.1m ▪ Network subscriptions -$1.5m 5

0 1H19 Impact of acquisitions Revenue net of Marketing expenses Employee expenses Other expenses 1H20 AASB 16 Impact 1H20 EBITDA volume cash expenses Pre AASB 16 EBITDA EBITDA

9 Capital expenditure Roll-out of Safety cameras supporting ongoing recurring revenue stream

Increase on pcp driven by $4.3m investment to support the roll-out of Safety cameras in Qld, NSW and SA. This investment is expected to drive $1.5m incremental annual revenue.

1H20 capex profile ▪ Internally developed software $3.0m ▪ In car equipment $6.6m: - Safety cameras $4.3m - Dispatch equipment $1.2m - Payment equipment $1.1m ▪ Fleet operations $0.8m ▪ Technology infrastructure and facilities $1.2m

10 Cash flow

30 free cash flow -$3.9m Operating cash flow and cash reserves funding:

1) Strategic acquisition of Gold Coast Cabs

25 2) Final FY19 dividend of 4 cents fully franked

7.7 3) Capex investment includes $4.3m in Safety camera assets 11.6 generating recurring revenue 20

($ m) ($ 15

4.9

10 19.2 2.5 0.5

5 8.4

0 Opening cash Cash flow from Capital expenditure Dividend paid Gold Coast Cabs Others Closing cash 11 operations Financial Position

31 Dec-20 AASB 16 31 Dec-20 30 Jun-19 $m Statutory Impact Pre-AASB 16

Cash and cash equivalents 8.4 0.0 8.4 19.2 Other current assets 87.2 0.0 87.2 81.3 Total current assets 95.6 0.0 95.6 100.5 Property, plant and equipment 42.4 0.0 42.4 38.2 ▪ Net cash of $5.9m Taxi plate licences 17.9 0.0 17.9 17.5 ▪ $50m financing facility available Other non-current assets 59.3 0.0 59.3 58.8 Right of use asset 19.8 (18.0) 1.8 ▪ Acquisition of Gold Coast Cabs contributed $1.2m to Total non-current assets 139.3 (18.0) 121.4 114.5 net assets Total assets 235.0 (18.0) 217.0 214.9 ▪ Impact of AASB 16 Leases on net assets as at 31 December 2019 is -$0.3m. Payables 41.0 0.0 41.0 37.9 Loans and borrowings 2.6 0.0 2.6 2.7 Other 8.3 0.0 8.3 8.6 Lease liabilities 2.3 (2.3) - - Total current liabilities 54.1 (2.3) 51.9 49.3 Lease liabilities 16.0 (16.0) - - Other liabilities 1.3 0.0 1.3 1.6 Total non-current liabilities 17.2 (16.0) 1.3 1.6 Total liabilities 71.4 (18.2) 53.2 50.8

Total net assets 163.6 0.3 163.9 164.1

Net cash 5.9 0.0 5.9 16.5

12 ▪ ’s largest fleet of professional Taxis ▪ Leading market share in Sydney, , , Gold Coast and Newcastle with accelerating national footprint ▪ Establishing a clear leadership position on service quality, brand strength and technology

Winning value proposition Service ➢ Class leading 4.8 star booking app ➢ New vehicle standards and age limits improving presentation, comfort and safety ➢ National average pick up time within 7 minutes Choice ➢ Complete range of Passenger options for booking and paying ➢ Game changing proprietary MyDriver technology enabling Passengers to save and book their preferred Drivers Safety ➢ Trained, accredited and identifiable Professional Drivers ➢ Safety cameras mandatory ➢ Independent tamper proof tracking systems ➢ 24 hour onshore Contact Centre monitoring Fairness ➢ No surge pricing and no cancellation fees ➢ Driver retains 100% of the fare ➢ Inclusive service available to all members of the community

13 Emerging Brand Strength

Marketing Investment is strengthening the 13cabs brand. Marketing initiatives coupled with service improvements are building positive NPS momentum with the number of promoters outweighing the number of detractors and gaining ground on Uber.

The 13cabs brand is younger than Uber in some key markets. 13cabs launched in Sydney in November 2016 (Uber 2012), Brisbane in May 2018 (Uber 2014) and on the Gold Coast in July 2019 (Uber 2014).

Net Promoter Score

NPS November 2019 20% 40% 40% +20 Shift since June 2019 (+4%)

-2% -1% +3%

+26 November 2019 18% 39% 44% (-2%) Shift since June 2019

+3% -3% +1% Detractors Passives Promoters

Source: Hall & Partners, Brand Tracking, November 2019 Hall & Partners

10 February 2020: “Perceptions of Taxis generally improved in 2019 compared to 2018. Perceptions of 14 safety, navigation and driver skills are more positive for Taxis than rideshare…” Building a national brand

▪ Generation and sharing of scale benefits to Stakeholders around Australia

▪ Most comprehensive national coverage of all market participants including rideshare

▪ Foundations set to support an industry transition to MaaS

15 Delivering convenience and control

Cabcharge gives travelers access to registered Taxis throughout Australia via an award-winning proprietary payments product suite. Clients and Passengers use the combination of payments cards, tickets and now fully digitised smartphone powered solutions that suits their needs - gaining seamless access to payment and support services nationally across all their chosen booking methods (including rank and hail).

Winning value proposition: ➢ Unmatched control, adherence and management of client travel policies facilitated through enhanced and instantaneous travel authorisation and visibility of activity, including individual trip data such as traveler name, route map and cost codes ➢ Automated data feeds from ‘Cabcharge ’ client portal to expense management systems ➢ Streamlined travel administration and removal of data entry costs. Removal of paper receipts from client processes and automation of invoice reconciliation through our online travel management platform ‘Cabcharge Plus’

16 Streamlining payments for Drivers who value speed

Spotto handheld terminals support Taxi Drivers by providing fast, easy and flexible access to cash. Spotto is a new and growing Driver focused distribution channel for Cabcharge Payments.

Winning value proposition ➢ Fastest access to cash for trip payments – available at any ATM ➢ Synergies with Spotto mobile app – driving engagement through transparency and confidence ➢ Recent extension to 7 day per week payments through the Spotto Card (a new Mastercard product) resonating with weekend and part time Drivers ➢ Widest range of payment methods available ➢ Legitimate service provider investing back into the industry ➢ Drivers can leverage Spotto to access discounted fuel and other services

Strong double digit turnover growth in 1H20 up 22%. Growth rate accelerated during 1H20 with December up 44% on pcp.

17 Empowering transport providers to win on service and capture fleet efficiencies

MTI partners with some of the world’s most innovative personal transport businesses keeping its technology offering at the forefront of global trends. MTI’s technologies are deployed in Australia, New Zealand, USA, Canada, Ireland, Finland and UK.

Winning value proposition ➢ Continuous product development leveraging global insights ➢ Regional teams foster local knowledge and deliver a true partnering approach ➢ Highly configurable product suite empowering personal transport businesses to win on service ❖ Tablet and phone based Driver Apps ❖ Management Portals harnessing real-time analytics ❖ Customisable booking apps ❖ Dispatch and call taking solutions ❖ Driver information and management portals ❖ APIs for flexible third party integrations ❖ Support for multi-fleet or bureau growth

2H20 developments ▪ New client TAXA 4x35 in Copenhagen commenced January ▪ New client Jimmy’s Cabs in Baltimore commencing March ▪ WHC Worldwide adding a new fleet in Indianapolis commencing February 2020 ▪ Glasgow Taxis (UK) migrated to MTI’s Driver App in February 2020 ▪ Delta Taxis in Liverpool commencing roll-out of MTI Driver App ▪ Xpert Taxis in Dublin migrating from iCabbi to MTI

18 EFT Solutions is A2B’s payments arm – developing deep payments expertise to strengthen the value proposition of Cabcharge, Spotto, 13cabs and the Taxi industry in general. EFT Solutions’ payments expertise is increasingly being leveraged by clients beyond the personal transport industry.

EFT Solutions delivers: ▪ Class leading payment terminals for 96% of Australia’s Taxis ▪ Payment and loyalty solutions for major Australian retailers ▪ Customised payment terminal software for select clients ▪ Digital Membership Cards for Apple Wallet and Google Wallet ▪ Unattended (self-service) payment solutions Unattended fuel pump payment system Winning Value Proposition FMT SmartFill Unit ➢ Customised payments solutions for clients leveraging broadest range of payment options ➢ Established track record of fastest adoption and incorporation of innovative payment methods (eg contactless, UnionPay, AliPay, Apple Pay, Google Pay) ➢ Option to leverage EFT Solutions’ in house payment for end to end service

Current initiatives ▪ Australian first payment application on Verifone’s new Engage platform supporting sign on Australia Post glass and a larger screen format providing a richer payment experience at 3,600 retail sites EFTPOS terminal ▪ Pilot and roll out of customised unattended solution for fuel pump payments routed through Verifone M400 EFT Solutions payment switch for Fluid Management Technologies terminal ▪ Implementation of Diners Club EMV and new back end upgrade to support payment switching through First Data.

19 Outlook

A2B anticipates a bright 2H20. Strong growth in Spotto turnover continued in A2B has stepped up its efforts to protect and preserve the value of its brands. January and is now offsetting headwinds in the company’s FarewayPlus offering So far in 2H20 favourable court outcomes have been achieved against 3 that services the conventional fixed in-car payment terminal market. parties who were improperly leveraging brands such as Maxi Taxi, Silver Service and 13cabs to divert bookings. Through this process over 50 other Cost management initiatives are beginning to flow through to the bottom line in businesses were successfully stopped from doing the same. In these a pattern expected to continue during the half. New in-car technology is examples the bookings are now being repatriated to affiliated Drivers and facilitating a transition to reliance on public telecommunication networks, further targeted litigation is in the pipeline. creating a nimbler operation and enabling us to capture cost savings from decommissioning our private mobile radio networks in Newcastle and Sydney Calendar 2020 is poised as the year that payments business EFT Solutions during 2H20. For FY21 and beyond, after a challenging taxi licence market in begins to scale its services, with new client Fluid Management Technologies FY20, we are reinventing the way we provide management services for taxi progressing through pilot of an unattended fuel pump payment system with licence owners in NSW and Qld which is anticipated to save $0.5m annually all transactions routed through A2B’s payment switch. The full rollout is going forward. scheduled to commence in April 2020. Meanwhile, in addition to our contracted services with Australia Post and Woolworths, work is underway to A2B’s ongoing commitment to technology and service has established sound release a generic payment terminal offering for merchants in categories customer value propositions that are now supported by strengthening brands. In beyond Taxis and hire cars, greatly expanding our reach. the Network space, regional businesses are continuing to seek out the technology, support and brand strength that 13cabs can share. Already in 2H20 The disciplined approach to m&a will continue. A2B has enhanced the value bureau services have been extended to and to Forster/Tuncurry and proposition of its existing services and developed a proven ability to grow surrounds with others well advanced in their consideration of our offering. independently of acquisitions (eg Champ in WA and Spotto). Future Elsewhere, industry participants that leverage our payments and associated opportunities will be tested for compelling value or a transformative impact, services without processing sufficient transactions to generate a return are being particularly in the payments industry. invited to rent our equipment, continuing our transition to subscription style revenue in preference to service fee income. The markets in which A2B operates are subject to the usual array of macro- economic factors, including a possible impact from a further spread of A2B’s proprietary MyDriver/MyClient technology offers a unique advantage COVID-2019. Whilst A2B is confident of strengthening its position against empowering Passengers to choose their preferred Drivers for different categories competitors during 2H20 it is difficult to accurately predict the likely influence of trips. Over time this technology encourages 13cabs Drivers to become a of COVID-2019 on financial performance, although it is possible that broader large and powerful sales force as they experience the direct rewards of impacts could be mitigated by the positioning of personal transport as safer providing great service. than public transport in the event of a pandemic.

20 Financial summary P&L – Impact of AASB 16 Leases and statutory to underlying reconciliation

1H20 Profit & Loss 1H19 Significant 1H19 1H20 Significant 1H20 AASB 16 Underlying ($m) Statutory Items Underlying Statutory Items Underlying Impact Pre-AASB 16 Revenue 101.0 0.0 101.0 105.0 0.0 105.0 0.0 105.0 Other income 0.2 0.0 0.2 0.1 0.0 0.1 0.0 0.1 Expenses 1 (85.5) 2.7 (82.8) (90.2) 1.5 (88.7) 1.6 (90.3) Impairment charges 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 EBITDA 15.7 2.7 18.4 14.8 1.5 16.3 1.6 14.7 Depreciation & Amortisation (7.2) 0.0 (7.2) (9.1) 0.0 (9.1) (1.6) (7.5) EBIT 8.5 2.7 11.2 5.7 1.5 7.2 0.1 7.1 Net interest (0.3) 0.0 (0.3) (0.6) 0.0 (0.6) (0.3) (0.3) Profit before tax 8.2 2.7 10.8 5.1 1.5 6.6 (0.3) 6.8 Income tax 2 (2.6) (0.8) (3.4) (1.5) (0.4) (2.0) 0.0 (2.0) NPAT 5.5 1.9 7.4 3.6 1.1 4.6 (0.3) 4.9 EBITDA margin 15.6% 18.2% 14.1% 15.5% 14.0% EBIT margin 8.4% 11.1% 5.4% 6.9% 6.8% Earnings per share from operations 4.6 cents 6.1 cents 3.0 cents 3.8 cents 4.0 cents

Underlying profit is a non-IFRS measure that has been included to enable users to understand the underlying performance of A2B. Underlying earnings have not been audited or reviewed. 1Excludes $0.8m restructure, integration and rebranding related costs, $0.3 million MTI employee retention costs, $0.3m once-off advisory costs in relation to regulatory review in Victoria and $0.1 million acquisition related costs (1H19 $2.7m) 2Excludes tax effect of significant items

21 Cash expenses

1H20 1H19 Change over Change over Underlying basis excluding significant items $m $m PCP PCP

Processing fees to taxi networks 3.8 4.2 0.4 8.4% Brokered taxi plate licence costs 12.0 11.6 (0.3) (3.0%) Taxi operating expenses 4.5 3.1 (1.4) (46.0%) Courier service expenses 1.5 1.5 (0.1) (4.5%) Cost of cars and hardware sold 3.1 3.1 0.0 0.7% Other taxi related costs 2.7 3.9 1.2 31.8% Total volume cash expenses 27.6 27.4 (0.2) (0.8%)

Marketing expenses 8.1 6.6 (1.5) (21.9%) Employee benefits expenses 33.5 29.8 (3.7) (12.4%) Infrastructure expenses 7.9 7.0 (0.9) (12.8%) Other non-volume cash expenses 11.8 12.1 0.3 2.7% Total non-volume cash expenses 61.2 55.4 (5.7) (10.3%)

Total cash expenses 88.7 82.8 (5.9) (7.2%)

22