1H20 highlights

2

▪ 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 Albury Wodonga 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

choice and control

▪ Installation of next generation in-car equipment

▪ App bookings up 19%

1H20 Overview

3

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 Sydney. 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.

$105m

4

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

$505m1H19 $521m

down 3.2% vs pcp

$16.3m

1H19 $18.4m

down 11.2% vs pcp

$4.6m

1H19 $7.4m

down 37% vs pcp

4 cents1H19 4 cents

$5.9mAs at 31 December 2019

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

Underlying EBITDA1Revenue

Interim Dividend Taxi Fares Processed

Underlying NPAT1 Net Cash

▪ Record revenue of $105m up $4m or 4% on pcp

▪ Revenue growth supported by strategic acquisitions

▪ 1H20 underlying EBITDA reduction of $2.1m

▪ 1H20 includes adoption of AASB 16

– Impact on EBITDA +$1.6m

– Impact on NPAT -$0.3m

▪ Statutory NPAT of $3.6m including adverse AASB 16 impact of $0.3m

▪ Continued strength in operations supporting interim dividend of 4 cents

fully franked

▪ Total fares processed $505m down 3.2% on pcp

– Improvement in total turnover visible in 2Q20 and leading into

January

– Handheld growth continued up 22% on pcp

▪ Net cash position of $5.9m and access to $50m finance facility

1H19 $101m

up 4% vs pcp

RevenueBuilding a diversified revenue mix

5

▪ Changes in Government Regulation during the last 5 years have directly

impacted annual revenues by ~$50m

▪ A2B has repositioned the business, replacing historic reliance on service

fee and Taxi licence income with a heathier mix of revenues generated

across a broader footprint in the personal transport and payment

industries. A2B has now delivered 2 successive record revenue results.

▪ Recurring revenue as a percentage of total revenues has increased from

44% to 68% and we anticipate the positive trend to continue

▪ Mobile Technologies International and Gold Coast Cabs contributed $7.2m to revenue

growth in 1H20

▪ Network Subscriptions temporarily impacted by strategic commitments to service quality

and fairness

- Pricing alignment implemented in Qld fleets in recognition of national model

- Cycling through of higher vehicle standards and application of age limits

▪ Handheld Payment channel (Spotto) delivering strong growth up 22% on pcp

Payments turnover

6

▪ Pressure on payments turnover experienced in 2H19 continued

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

▪ In 1H20, although from a small base, 13cabs app and contact

center payments more than doubled

▪ Recurring payment terminal rental income increased by 39% to

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

▪ Cabcharge volumes were under pressure in the first half with

declines primarily visible in NSW

▪ Upskilling of Cabcharge sales capability underway

▪ Cabcharge Digital pass growth continued quarter on quarter

up 55% in 1Q20 and up 41% in 2Q20

-3.2%+0.6%

Taxi f

are

s p

roc

ess

ed

$m

+1.1%

Changing payments revenue mix

163 165 160

352 356345

515 521505

1H18 1H19 1H20

CAB a/cs Bank Issued & 3rd Party

8,729

9,728 9,757

0

2,000

4,000

6,000

8,000

10,000

12,000

Dec-17 Dec-18 Dec-19

Affilia

ted

fle

et

(ve

hic

les)

Network subscriptions

7

Expansion of national footprint continues

▪ Expansion into new geographies continued generating

further opportunities to benefit from scale and brand

strength. In 1H20 we launched in the following markets:

- Gold Coast & Tweed Heads (Acquisition)

- Perth (Organic)

- Mackay/Airlie Beach/Whitsundays (Bureau)

- Albury Wodonga (Organic)

▪ Key strategic milestone achieved by launching in the Perth

market. Launch exceeded expectations with 223 vehicles on

our network as at 31 January 2020

▪ Victorian market is maturing following a period of rapid

growth

▪ New restrictions on wheelchair accessible taxis in NSW had

downward pressure on fleet in 2Q20

▪ We continue to assess growth opportunities in new markets to

further expand national coverage and brand presence

▪ Commitment to quality through fleet standards resulting in

transition of inferior vehicles out of affiliated fleet

+0.3%

Growth on pcp

+11.4%+19.2%

Financial summary

8

Key contributors impacting 1H20 EBITDA performance:

▪ Marketing spend increased to $8.1m (up $1.5m on pcp)

▪ Transition of aged 13cabs vehicles to CHAMP (-$0.9m vs pcp) or

to third party networks with lower standards

▪ Implementing price parity for Qld fleets (-$0.6m vs pcp)

▪ Margin reduction in managed plate portfolio (-$1.1m vs pcp)

▪ Increased communication costs (-$0.7m vs pcp)

▪ Contribution of MTI and Gold Coast acquisitions (+$1.2m vs pcp)

- MTI $+0.8m

- Gold Coast +$0.4m

▪ 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.

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.

Underlying basis excluding significant items* 1H20

$m

1H19

$m

Change over

PCP

Revenue 105.0 101.0 4.0%

Other income 0.1 0.2

Expenses (88.7) (82.8)

EBITDA 16.3 18.4 (11.2%)

Depreciation & Amortisation (9.1) (7.2)

EBIT 7.2 11.2 (35.2%)

Net interest (0.6) (0.3)

Profit before tax 6.6 10.8 (38.8%)

Income tax (2.0) (3.4)

NPAT 4.6 7.4 (37.3%)

EBITDA margin 15.5% 18.2%

EBIT margin 6.9% 11.1%

Earnings per share 3.8 cents 6.1 cents

18.4

1.2

(2.0)

(1.4)(0.7)

(0.8)

14.7

1.616.3

0

5

10

15

20

25

1H19

EBITDA

Impact of acquisitions Revenue net of

volume cash expenses

Marketing expenses Employee expenses Other expenses 1H20

Pre AASB 16 EBITDA

AASB 16 Impact 1H20

EBITDA

EB

ITD

A $

mUnderlying EBITDA

9

MTI $0.8m

Gold Coast Cabs $0.4m

Key drivers

▪ Plate income - $1.1m

▪ Network subscriptions -$1.5m

Increased marketing

activity nationally

▪ Award increase +3% or

$0.5m

▪ Total employee

like-for-like expenses +2.4%

Increase primarily driven by

increased communication

costs

1H20 vs 1H19

Capital expenditure

10

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

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.

8.4

11.6

4.9

2.5

7.7

0.5

19.2

0

5

10

15

20

25

30

Opening cash Cash flow from

operations

Capital expenditure Dividend paid Gold Coast Cabs Others Closing cash

($ m

)

free cash flow -$3.9m

Cash flow

11

Operating cash flow and cash reserves funding:

1) Strategic acquisition of Gold Coast Cabs

2) Final FY19 dividend of 4 cents fully franked

3) Capex investment includes $4.3m in Safety camera assets

generating recurring revenue

Financial Position

12

▪ Net cash of $5.9m

▪ $50m financing facility available

▪ Acquisition of Gold Coast Cabs contributed $1.2m to

net assets

▪ Impact of AASB 16 Leases on net assets as at 31

December 2019 is -$0.3m.

$m 31 Dec-20

Statutory

AASB 16

Impact

31 Dec-20

Pre-AASB 16

30 Jun-19

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

Taxi plate licences 17.9 0.0 17.9 17.5

Other non-current assets 59.3 0.0 59.3 58.8

Right of use asset 19.8 (18.0) 1.8

Total non-current assets 139.3 (18.0) 121.4 114.5

Total assets 235.0 (18.0) 217.0 214.9

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 liabilit ies 2.3 (2.3) - -

Total current liabilities 54.1 (2.3) 51.9 49.3

Lease liabilit ies 16.0 (16.0) - -

Other liabilit ies 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

13

▪ Australia’s largest fleet of professional Taxis

▪ Leading market share in Sydney, Melbourne, Brisbane, Gold Coast and

Newcastle with accelerating national footprint

▪ Establishing a clear leadership position on service quality, brand strength

and technology

Winning value propositionService

➢ 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

20%

18%

40%

39%

40%

44%

Detractors Passives Promoters

NPS

November 2019

Shift since June 2019

-2% -1% +3%

+3% -3% +1%

+20

(+4%)

+26

(-2%)

Source: Hall & Partners, Brand Tracking, November 2019

November 2019

Shift since June 2019

Net Promoter Score

Hall & Partners

Emerging Brand Strength

10 February 2020: “Perceptions of Taxis generally improved in 2019 compared to 2018. Perceptions of

safety, navigation and driver skills are more positive for Taxis than rideshare…”14

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).

15

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

16

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).

Delivering convenience and control

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 Plus’ 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’

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.

Streamlining payments for Drivers who value speed

17

18

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

Empowering transport providers to win on service and capture fleet efficiencies

19

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

Winning Value Proposition➢ 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 switch for end to end service

Current initiatives

▪ Australian first payment application on Verifone’s new Engage platform supporting sign on

glass and a larger screen format providing a richer payment experience at 3,600 retail sites

▪ Pilot and roll out of customised unattended solution for fuel pump payments routed through

EFT Solutions payment switch for Fluid Management Technologies

▪ Implementation of Diners Club EMV and new back end upgrade to support payment

switching through First Data.

Australia Post EFTPOS terminal

Verifone M400 terminal

Unattended fuel pump payment system

FMT SmartFill Unit

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.

Outlook

20

A2B anticipates a bright 2H20. Strong growth in Spotto turnover continued inJanuary and is now offsetting headwinds in the company’s FarewayPlus offeringthat services the conventional fixed in-car payment terminal market.

Cost management initiatives are beginning to flow through to the bottom line ina pattern expected to continue during the half. New in-car technology isfacilitating a transition to reliance on public telecommunication networks,creating a nimbler operation and enabling us to capture cost savings fromdecommissioning our private mobile radio networks in Newcastle and Sydneyduring 2H20. For FY21 and beyond, after a challenging taxi licence market inFY20, we are reinventing the way we provide management services for taxilicence owners in NSW and Qld which is anticipated to save $0.5m annuallygoing forward.

A2B’s ongoing commitment to technology and service has established soundcustomer value propositions that are now supported by strengthening brands. Inthe Network space, regional businesses are continuing to seek out thetechnology, support and brand strength that 13cabs can share. Already in 2H20bureau services have been extended to Dubbo and to Forster/Tuncurry andsurrounds with others well advanced in their consideration of our offering.Elsewhere, industry participants that leverage our payments and associatedservices without processing sufficient transactions to generate a return are beinginvited to rent our equipment, continuing our transition to subscription stylerevenue in preference to service fee income.

A2B’s proprietary MyDriver/MyClient technology offers a unique advantageempowering Passengers to choose their preferred Drivers for different categoriesof trips. Over time this technology encourages 13cabs Drivers to become alarge and powerful sales force as they experience the direct rewards ofproviding great service.

A2B has stepped up its efforts to protect and preserve the value of its brands.So far in 2H20 favourable court outcomes have been achieved against 3parties who were improperly leveraging brands such as Maxi Taxi, SilverService and 13cabs to divert bookings. Through this process over 50 otherbusinesses were successfully stopped from doing the same. In theseexamples the bookings are now being repatriated to affiliated Drivers andfurther targeted litigation is in the pipeline.

Calendar 2020 is poised as the year that payments business EFT Solutionsbegins to scale its services, with new client Fluid Management Technologiesprogressing through pilot of an unattended fuel pump payment system withall transactions routed through A2B’s payment switch. The full rollout isscheduled to commence in April 2020. Meanwhile, in addition to ourcontracted services with Australia Post and Woolworths, work is underway torelease a generic payment terminal offering for merchants in categoriesbeyond Taxis and hire cars, greatly expanding our reach.

The disciplined approach to m&a will continue. A2B has enhanced the valueproposition of its existing services and developed a proven ability to growindependently of acquisitions (eg Champ in WA and Spotto). Futureopportunities will be tested for compelling value or a transformative impact,particularly in the payments industry.

The markets in which A2B operates are subject to the usual array of macro-economic factors, including a possible impact from a further spread ofCOVID-2019. Whilst A2B is confident of strengthening its position againstcompetitors during 2H20 it is difficult to accurately predict the likely influenceof COVID-2019 on financial performance, although it is possible that broaderimpacts could be mitigated by the positioning of personal transport as saferthan public transport in the event of a pandemic.

Financial summaryP&L – Impact of AASB 16 Leases and statutory to underlying reconciliation

21

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

Profit & Loss

($m)

1H19

Statutory

Significant

Items

1H19

Underlying

1H20

Statutory

Significant

Items

1H20

Underlying

AASB 16

Impact

1H20

Underlying

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

Cash expenses

22

Underlying basis excluding significant items 1H20

$m

1H19

$m

Change over

PCP

Change over

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 serv ice 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%)