EROAD/Announcement

EROAD Investor Day

Investor Presentation22 September 2019ERDIndustrials

TEL +64 9 927 4700 PO Box 305 394
FAX +64 9 927 4701 Triton Plaza, North Shore 0757 Page 1
FREE 0800 4-EROAD Auckland, New Zealand eroad.co.nz

23 September 2019
EROAD INVESTOR DAY
EROAD will today host its Investor Day, beginning at 12:30pm NZST. Investors will hear from
members of the Executive Leadership Team who will present an update on EROAD’s growth
strategy, the progress achieved to date and the path to reaching the next milestone of 250,000+
subscribers.
“EROAD has many exciting opportunities ahead with the business having invested to scale-up for the
next phase. Organic expansion will continue to play an important role in EROAD’s growth however
we are also seeking opportunities to acquire complementary businesses to accelerate our growth
trajectory. We are confident and ambitious about the future prospects for EROAD” said Steven
Newman, Chief Executive.
“The business is continuing to increase rapidly. Our New Zealand business is market leading,
however there is still significant room to expand our customer base and service offering. North
America is now a developed market for EROAD, contributing strongly to EBITDA in FY20
and expected to reach positive EBIT by the end of FY20. Our more recent expansion into Australia
has great potential and is expected to deliver positive EBITDA in the next 3-4 years at lower sales
levels than was required for North America, reflecting its lower cost to serve. We expect to
deliver further operating leverage from FY21 onwards.”

EROAD Chair Graham Stuart said: “Our investment in scaling the business has established a solid
platform for future growth. While we continue to see strong growth opportunities ahead, we will re-
invest to maximise long-term shareholder value. This will include continued investment of 18-22% of
revenue in R&D and investment in building acquisition capability to support our future growth
objectives.

“EROAD’s existing cashflow and funding channels will be deployed to capture organic growth
opportunities and to build capability in FY20 so we are ready to look to acquire complementary
businesses in late FY20 or FY21 as the right opportunities are identified. Any medium and large
acquisitions will be equity funded” said Mr Stuart.

ENDS

A copy of the Investor Day presentation material is attached, and will be available on the
EROAD
website. Following the event, a video of the presentations will also be available on this website.
Investor Contact: Media Contact:
Alex Ball Sue-Ellen Craig
Chief Financial Officer Director of Communications
Ph +64 9 927 4729 Ph +64 21 577 685
alex.ball@eroad.com sueellen.craig@eroad.com

About EROAD

Page 2 eroad.co.nz
• EROAD believes every community deserves safer roads that can be sustainably funded. This is why
EROAD develops technology solutions (products and services) that manage vehicle fleets, support
regulatory compliance, improve driver safety and reduce the costs associated with driving. EROAD
also provides valuable insights and data analytics to universities, government agencies and others
who research, trial and evaluate future transport networks. This data enables those who use the
roads to influence the design, management and funding of future transport networks.
• EROAD launched with the purpose of modernizing New Zealand’s paper-based road user charging
system. By 2009 EROAD had introduced the world’s first nationwide electronic road user charging
system and now around 46% of collected heavy vehicle road user charges in New Zealand are being
collected using EROAD technology. By March 2019, this had delivered NZ$2.5B to NZTA for the
sustainability of the NZ transport network. In the USA, EROAD introduced the first electronic Weight
Mile Tax service (2014) and the first independently verified Electronic Logging Device service (2017).
• EROAD (ERD) is listed on the NZX, and employs over 250 staff located across NZ, Australia and
North America.

---

Graham Stuart
Chair
We choose growth

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Agenda
2:00pm
Opportunitiesin
New Zealand
Tony Warwood
2:00pm
4:10pm
Wrap upQ & A
Steven Newman
4:30pm
Value Proposition
Genevieve Tearle
1:35pm
Our Customer
1:35pm
Smoothly
Alex Ball
3:50pm
Accelerating
4:10pm
for Growth
Steven Newman
1:15pm
Positioned
1:15pm
3:25pm
Research
& Development
Jarred Clayton
3:50pm
4:30pm
Session with
the Board
in North America
Norm Ellis
3:00pm
Opportunities
3:00pm
1:00pm
Welcome
Graham Stuart
1:00pm
in Australia
Tony Warwood
2:25pm
Opportunities
2:25pm2:45pm
Break
3:25pm

We have a unique customer value proposition that wins, retainsand growsARPU per customer
Key Takeaways
We have an energised andcapable team of EROADers
We will continue to investin R&D critical to delivering reliability, scalability, quality and growth
We will capitalise on a large and growingpipelineof organic and acquisition opportunities
We are choosing to grow–our next milestone is 250,000+units

EROAD today
Leader in New Zealand,
emerging in North America,
and launching in Australia
* As at 30 June 2019
Loyal customers
generating recurring revenue
Energisedteam with
strengthened capability
37%
3-year CAGR*in Units
Scaling business,driving
growth and retention
18 -22%
Investment in R&D
282
EROADers
Delivering earnings growth
to fund organic growth
+48%
EBITDA growth in FY19
Seeking opportunities to acquire
complimentary businesses
250,000+
subscribers
The next target
94.4%
**
Asset Retention Rate
*
As at 30 June 2019.
**
Defined in appendix

Our purpose is safer,
more productiveroads
SAFER
•EROAD solutions have a
direct impact on road
safety, reducing
accident/incident rates
and saving lives
•Vehicle service and
maintenance monitoring
ensures safer vehicles on
our roads
•Our driver management
services improve driving
behaviour
IMPROVED
PRODUCTIVITY
•EROAD data insights help
customers achieve greater
fuel efficiency and reduce
emissions
•Our analytics informs
improved infrastructure
decisions
•EROAD solutions
reducecompliance costs
andimproveon-road
productivity

RESPONSIBLE
MANUFACTURING
•We have evaluated our supply
chain against human rights and
sustainable manufacturing
criteria
•Our manufacturing partner
participates in Carbon Disclosure
Project to reduce CO2 emissions
•Our supply chainimprovements
havereduced reliance
oninternational freight
We act with environmental and social responsibility
PRIVACY &
CYBER SECURITY
•Designed for privacy and security
•Data centre and network
architecture built to meet the
requirements of the most
security-sensitive organizations
•Independently audited annually
for IT security
•EROAD operates in partnership
with AWS security to leverage
AWS expertise
WASTE
REDUCTION
•We remanufacture/ refurbish
≈1500 units per month using
recycled components
•In FY19 we reclaimed 287kg of
LiSOCl2 batteries and 48kg of
PCB boards
•Manufacturing scrap levels have
reduced by 67% since 2017
•We follow NZ Ministry for the
Environment guidance on
minimising electrical and
electronic equipment waste

ESTABLISHING THE PLATFORMSCALING FOR GROWTHCHOOSINGTOGROW
•Recognised pioneer in regulatory
telematics
•Unique and compelling product,
driving growth and retention of
customer base
•Product enhancements delivering
further retention and increased ARPU
•Market leader in New Zealand,
emerging in North America and
launching in Australia
•Strengthened leadership team and
deepened capabilities in key areas
•Invested to strengthen systems
capability to support growth
aspirations
•Continued high level of innovation and
investment in R&D
•Achieved critical milestone of
100,000 subscribers, now aiming for
250,000+
•Existing cashflow and debt facilities
to fund organic growth
•Seeking opportunities to acquire
complementary businesses
•Poised to become a global leader
in vehicle telematics
Safer and more productive roads
Energised and capable team of EROADers
Creating Shareholder Value

Positioned
for growth
Steven Newman
CEO

FY14FY19CAGR
Revenue$9.96m*$61.35m44%
Total Contracted Units*13,45396,52748%
*FY14 Revenue has not been restated to reflect recent changes in accounting policy as a result of adoption of NZ IFRS 15 and NZ IFRS 16, however are considered not materially
different for comparative purposes.
We will continue to grow strongly
EROAD has been listed on the NZX for 5 years
We have grown strongly

2007
2009
2012
2014
2015
2016
2017
2018
2019
NZ RUC legislation reviewed
Oregon WMT Pilot
USA Electronic IFTA service launched
NZ: Health and Safety at Work Act (HSW Act) reform
•NZ electronic processing over-takes paper-based
•Australia: DITCRD RUC pilot
Introduces the world’s first nationwide electronic road
user charging (ERUC) system
•List on NZX
•Establish office in Portland, Oregon, USA
•Launch first electronic Weight Mile Tax (Oregon)
•Electronic log book first to be approved by NZTA
•Ehubo2 launched –(In-cab driver feedback)
•Launched Driver Leaderboard
•Launch USA’s first independently verified FMCSA registered electronic
logging device (ELD)
•Launch HoS& DVIR services (USA)
•Launch Vehicle Maintenance services
•Capital raise of $21.5m
•Develop the analytical model ‘Dynamic Data’
•EHUBO2.2 manufacturing transitions offshore to enable scale-ability
•Australian re-entry. Release of CoRsolution
•EHUBO2.2 launch of revised unit with 4G capacity
•100,000+ subscribers
•First enterprise account in North America
•Launch FBT & Fuel Tax Credits (FTC) in Australia
EROAD begins to solve the global problem of funding roading infrastructure
•Australia: CoR
The road travelled
•Federal ELD mandate comes into effect
•California RUC Pilot
•EROAD selected as sole heavy vehicle
technology provider for USA’s first multi-state
MBUFA pilot (i95)
Transport Regulatory Change
EROAD Response

How do we pay for
and maintain roading
infrastructure?
How do we
ensure vehicles
are fit for use?
How do we best
manage driver
fatigue?
How do we improve
health and safety
on roads?
Every country is looking to solve the same issues

COMMERCIAL SERVICES
•Tracking
•Fuel Management
•Driver Behaviour
•Service & Maintenance
GENERAL FLEET
MANAGEMENT COMPANIES
ROAD USER CHARGING
•Weight-Mile Tax
•Road User Charges
•Tolling
COMPLIANCE
•Vehicle Compliance
•Driver Compliance
•Fleet Compliance
COMMERCIAL SERVICES
•Tracking
•Fuel Management
•Driver Behaviour
•Service & Maintenance
STRONG FOUNDATIONAL PLATFORM
(regulatory telematics)
Top
down
EROAD Delivers
Additional Value
We pioneered regulatory telematics
providing a solid foundation for our unique customer value proposition

Our unique approach
to entering a market builds on that foundation
LISTENING LOOPBUILD LOOPLAUNCH LOOP
Government
Policy Makers
Regulators
Enforcers
Industry Bodies
Customers
GLOBAL MARKET
DEVELOPMENT
R&D PRODUCT
GO TO MARKET
CONSULT
Evaluate
Educate
Explore
Listen
Engage
Trial/Pilots
Validate
LEARN
Research
Validate
Experiment
Reduce risk
Test assumptions
MEASURE
Adapt
Refine
Deliver Value
Serve
Safer more
productive
roads
REGULATORY
CHANGE
INDEPENDENT
VERIFICATION

Operating in a large and growing market
•Research by CJ O’Driscoll & Associateshas
estimated the commercial telematics market in
North America has grown by 265% during the
past ten years.
•McKinsey & Company estimates the value of
telematics could be as large as $750 billion by
2030 with no country reaching adoption rates
that exceed 20% (US –20%, Italy 17%, Australia
3% and NZ 1%).
•Global commercial telematic CAGRs are
estimated at 18%-21% between 2018 and
2024. Main drivers are:
•Regulatory change (H&S, COR, Driver Fatigue)
•Operational improvements from integration to
back office systems (Payroll, dispatch, logistics
management)
•Data insights, benchmarking and predictions.
•More customer solutions, and connected devices.

“What race we are in?”
051015202530
TeleTrac Navman
PeopleNet
GPSTrackIt
MiX Telematics
NexTraq
Synovia Solutions
Agilis (LinxUp)
Geotab
GPS Insight
Verizon Connect
TomTom Telematics
Fleet Complete
EROAD
Zonar Systems
ORBCOMM
Azuga
KeepTruckin
J.J. Keller
Samsara
Years to reach 100k and 250k units
years to reach 100k unitsyears to grow from 100k to 250k units
•The true race we are in is with other telematic competitors who
operate in our markets.
•We know from the C.J. Driscoll research their growth performance
and can set growth targets for ourselves.
•28 telematics providers operating in North America, Australia and
New Zealand have achieved the 100,000 subscriber vehicle
milestone. On average achieved in 12 years. EROAD achieved
this milestone in 9 years.
•13 telematics providers have achieved the 250,000 subscriber
vehicle milestone taking an average further 3.2 years to achieve.
High growth rates were achieved through acquisition (of product
gaps or subscriber base), large R&D spend,and significant
marketing investment.
•Of the 15 telematic providers than have not achieved the
250,000 milestone, 5 have been acquired or merged. The
balance of 10 (excluding EROAD) have an average estimated
fleet size of 143,000 and an average estimated run rate of
17,000 per year.
•Based on annualisedQ1 unit growth of 24%, we will achieve the
250,000 subscriber target in five years. Our challenge is to get
there faster.

•Board refresh: Susan Paterson
appointed; search underway for
new North American Director.
•Strengthened Executive team in
place: Key hires in Finance,
Marketing, Operations, People &
Culture and Product.
•Deep capability building in key
areas, including R&D, M&A, Sales
and Customer Success.
•Business systems and process
transformation, enabling us to
scale more efficiently and improve
customer experience.
•Established growth incubators for
regulatory trials, data insights and
new ventures are gaining traction
across all markets.
Building blocks in place
to sustain high growth
FY20 focus on strengthening
capability and culture
•Initiated a Leadership Program.
•Enhanced our Learning
Management System providing
faster, more robust onboarding
and team development.
•Building acquisition capacity.
•Lifting the (already strong)
Company Culture: Improved
collaboration and accountability
with focus groups responsible
for delivery.

How will we reach
250,000+
subscribers ?

Our Compelling and Unique
Customer Value
Proposition
Genevieve Tearle
Chief Marketing Officer

How do we
manage our fleets
most effectively?
How do I keep my
business compliant?
How do I keep
my drivers safe?
How do I manage
my drivers cost
effectively
Our customers too have common problems to be solved

EROAD believes every
community deserves
safer and more
productive roads
That is why we create easy to
use solutions that manage
vehicle fleets, support
compliance, improve driver
safety and reduce costs
associated with driving.

CUSTOMER
OBSESSED
Our solutions help
run a safer business
Solving customer problems
Using four pillars of products and services
ONE
SOURCE
One platform
delivering intuitive,
multiple services
RELIABLE
Reliable accuracy
EROAD 1st to receive
independent verification
(ELD, NA).
EROAD pioneered regulatory telematics.
This is why we are the experts in Easy Compliance, Improved Safety &Easy Fleet Management
EASY
TO USE
“Better than the
30 other devices
we tried”

EROAD pioneered regulatory telematics.
This is why we are the experts in Easy Compliance, Improved Safety &Easy Fleet Management
CUSTOMER
NEEDS
REGULATORY
COMPLIANCE
FLEET
MANAGEMENT
DRIVER
MANAGEMENT
ROAD
SAFETY
Customer Obsessed
Our solutions help
run a safer business
After-sales
customer support
94.4%
Asset Retention Rate*
Services that reward
self-improvement
(e.g. Leaderboard)
Reduce violations
by >50%
One Source
One platform delivering
intuitive, multiple services
RUC, WMT, FTC,
FBT, ELD, IFTA
All the reports you
need,in one place
Minimal in cab
distraction. Ehubo2
faces the driver
Reduce emissions,
improve infrastructure
Reliable
Reliable accuracy –EROAD
1stto receive independent
verification (ELD, NA)
Regulatory authorities
accept reports generated
through EROAD systems.
Auditing takes less time
Industry-leading
up-time
Less training required
(than competitive
products)
Data that informs
better decisions
Easy to use
“Better than the 30 other
devices we tried”
Viewable anytime,
on any device
Icons, widgets and
colour coding make it
easy to understand
Really easy to understand
at a time when you can
take action
Designed for tough
environments. Easy to
use wearing gloves.
* Defined in Appendix, as at 31 March 2019

Building out product solutions to solve these problems
REGULATORY COMPLIANCE
Using four pillars of products and services
FLEET MANAGEMENTDRIVER MANAGEMENTROAD SAFETY

SMB and Enterprise customers
have different needs
We grow with their business

Our solution starts with keeping track
Thanks to EROAD we know where
our truck is and what it’s doing. It’s
the same with our utes. If there’s
any dispute about a job, we’ve got
proof of where they’ve been and
how many loads they’ve done.
It’s all there in black and white. No
one can bullshit you because
you’ve got it all there.
Strickland Contracting, New Zealand

And simplifying taxation
“It’s simplified RUC. We no longer run out or get tickets. It’s
reduced admin time, is one less thing for our drivers to worry
about and the total amount of cash outlay is drastically lower,
with each vehicle sitting on 2000km rather than 5000-10,000.”
McCurdy Engineering, New Zealand
Road User Charges (NZ)
Weight Mileage Tax (US)
IFTA (US)

As fleets grow, compliance needs to grow
DRIVER SAFETY MANAGEMENT
US ROAD CHARGING
TAXATION

The complexity of fleet management concerns grow

And their safety concerns grow, so we educate on safety
EROAD has so far brought
down our over speed events
from approximately 25,000
a month to about 1200.
It’s reduced our overall fuel
bill by approximately 20%
and accident incident rates
by 20%.
McConnell Dowell
EROAD Customer, New Zealand

“EROAD data has led to a 7% reduction in insurance premiums
and savings of $3,000 per month with maintenance recordkeeping, fewer violations and lower fines.
The ROI for us on EROAD was almost immediate.”
Recoil Oilfield Services
Conroy Removals • Australia
Making our roads safer

SMB and Enterprise customers
have different purchase and
decision-making processes

•Our customer base is evolving into a mix of SMB
and Enterprise customers, as anticipated given the
role of Enterprise customers in the ecosystem
•Securing enterprise contracts takes longer due to
their phased procurement process, including prior
experience
•To maximiseour available resources (sales/R&D)
we review potential enterprise customers to ensure:
•strategic fit
•value set alignment
•if required enhancements
will be commercially reusable
•ARPU at target levels
Enterprise
36%
SMB
64%
Changing our customer mix in a considered way
* As at 30 June 2019. NZ enterprise customers defined as fleets > 150 and North American enterprise customers defined as fleets > 500 units
*

We have changed our sales model as our customer base has grown
in size and scale to reflect the needs and increasing sophistication
of our customer base
•Our sales structure reflects this with a differentiated approach:
•Enterprise Sales teams established in NZ (2013) and NA (2018)
•Marketing team established to bring in Marketing Qualified Leads to
increase the efficiencies of the sales team
•Customer Success approach being developed to service our
customers:
•Tech touch for SMB customers being built
•Account manager centric approach for larger customers to
ensure that we can deliver customer value and up sell our
product offerings as our portfolio grows
Our sales model has evolved
to reflect our customers’ needs

Customer Success delivers value
for our customers and EROAD
•We travel a journey with our customers
throughout their time with us
•Setting success measures with the customer
•Being the advocate for the client within EROAD
•Aiding our customers to maximise value from
their EROAD product suite
•Sharing new product launches and upselling
where it makes sense
•Sharing industry best practises
•Training our customers on product usage
Ensuring complete
Product utilization &
Solution value with
on-demand guidance
on product adoption
& value
Management of
concrete success
measures
Customer Exclusive
Insights that provide
best practices, new
product features, and
industry-related topics
Client Advocacy
Regular check-in’s
with CSM (Customer
success Manager)
& quarterly business
reviews
Proactive outreach
ensuring complete
product utilization
& solution value
Quarterly product
roadmap reviews
& feature
enhancements
where applicable

Our total solution is delivering ROI for our customers
ROI (%)

Resulting in a loyal and growing customer base
* As defined in Glossary
95.8
94.4
0
10
20
30
40
50
60
70
80
90
100
FY18FY19
ARR* (%)
54.3
55.1
0
10
20
30
40
50
60
FY18FY19
Monthly SAAS ARPU ($)*
Total Contracted Units*

NEW ZEALAND REDUCTION IN SPEED,
ALL EROAD TRACKED VEHICLES
EROAD has made us more
proactive in keeping the trucks
safe. Maintenance is simpler to
manage and we’re able to keep
on top of things a lot more easily.
Conroy Removals, Australia
And safer roads for the community

The EROAD installation was the
easiest and most successful
vehicle technology roll out in to
the St. John fleet.
This was due to the flexibility of
EROAD, their structured
approach and their seamless
work, with our Infrastructure
Managers and Install
Co-ordinators.
St. John, New Zealand

New Zealand
A growing success
Tony Warwood
Executive General Manager
Australia & New Zealand

RETAINING CUSTOMERS
94.4%
Asset Retention Rate
A Market Leader
in New Zealand
20132015
20172019
Our success in NewZealand provides thelaunchpad and
cashflow formarket expansion andproduct development
WINNING CUSTOMERS
33%
2-year unit CAGR*
GROWING EARNINGS
32%
NZ EBITDA growth in FY19
* As at 30 June 2019for ANZ
** As defined in the Glossary
***

COMPETITIVEADVANTAGES
•EROAD’s reliable accuracy remains critical -people are experiencing the pitfalls
of low-cost telematics and OBD2 devices.
•Simplicity of platform –delivers value from day one.
•Trusted brand.
•Customer Service –ability to drive outcomes and change within a customer's
business.
•Evidential ROI through Ehubo1, heightened through Ehubo2.
•R&D –we are a long-term business partner for our customers.
•Service Module and delivering value from the ecosystem around our customers.
CHALLENGES
•Specialised providers carving off niche parts of large fleets.
•More analytics and insight capability is required to show ROI with a growing
interest in benchmarking.
•Scale to support our customers across a wide range of industries and segments.
•Our customers want a ‘one stop shop’ for all their needs.
COMPETITIVE MARKET
•4 eRUCproviders.
•Threats from Tablet & TMS focused telematics
however these are limited by the platform they
operate on (therefore a risk for H&S
compliance).
•Some ‘non-interactive’ telematic players and
increasing Trans-Tasman providers.
•Light vehicles are maturing and demanding
more than ‘just track my vehicles’, specifically
wanting driver facing solutions for H&S / Driver
Identification.
Market Dynamics
The New Zealand telematics market is maturing, which is increasing demands on our product offering. Price competition is
becoming common, and robust solutions including TMS integration, asset tracking, and cameras are becoming a ‘must have’ at
the complex end of the market. Even smaller fleets are demanding more robust solutions, as they mature from basic tracking.

Still room for significant growth
IN NEW
CUSTOMERS
CUSTOMERS
UPGRADING HARDWARE
SELLING MORE
SAAS PRODUCTS
EROAD
11.3%
EROAD
33%
EROAD
7%
Ehubo2
51%
Ehubo1
43%
Asset
6%
EROAD Share
EROAD Inspect

Eco System

•Growth in light vehiclesand pool vehicle fleets where
driver coaching in-cab, driver identification, and
inspections are critical to fleet safety.
•Growth of light vehicles and assets in existing customers
as they move from addressing H&S risk in heavy
vehicles, to importance of driver coaching and tighter
service & maintenance across all vehicles.
•Expect assets (powered/non-powered) to be key growth
area,followingadoption of service and maintenance
module and need for one single view.
Asset 6%
Light
39%
Heavy
55%
Continue expanding into safety conscious market

Hardware upgrades provide a noticeable impact
Customer 1Customer 2Customer 3Customer 4Customer 5Customer 6Customer 7Customer 8Customer 9Customer 10Customer 11Customer 12Customer 13Customer 14
Benchmarking –Ave Speed Events per 100km
Ehubo2 in-vehicle unit on the Safe Driver Plan is outperforming the 1
st
Generation Technology
Good example of ‘active
engagement’ to drive change

Leverage network into new opportunities
Maintenance module
2009
Leaderboard
2015
Electronic Logbook
2014
Ehubo2
2017
MyEROAD
2019
Inspect
2017

Retention is key
94%
* As defined in Appendix
*

After Sales Care or Retention?
Customer
Onboarding
Install
Customer
Onboarding
(training)
Customer
Lifecycle
Management
Customer
Growth
Customer
Helpdesk
After Sales Care
Customer Retention
Finance &
Billing
•A key differentiator is our after-sales-service levels and customer support team.
•Ehubo2 offering and additional SaaS services (e.g. Inspect and Logbook) came at the right time for large
fleet renewals over the last 12 months, as the regulatory environment demanded a health and safety
focus.Over 40% of all renewals are upgrading to Ehubo2.
•Our customers' needs are growing, in line with required regulatory and commercial outcomes.

How EROAD helped PCC
monitor its fleet during a
major weather event
•Widespread flooding to the Porirua district
that overwhelmed stormwater systems,
causing slips and road closures in 2015.
•Porirua City Council used:
•EROAD’s GPS Tracking Systemto
track Council staff and vehicles, make
the most efficient dispatch decisions
and avoid traffic congestion.
•EROAD’s activity screen to view the
area and location of council vehicles.
We were able to distribute people and
vehicles around hot spots and see how
they were tracking, see where the traffic
jams were, and keep the radio waves
clear. It’s just a brilliant tool.
Chris Herbert
Manager, Advanced Maintenance Management
Works Operations, Porirua City Council

St. John
Ambulance Services
•One box that does it all.
•Enabling the emergency service to be as
efficient and effective as possible through:
•GPS solution
•Health & Safety (duty of care)
•Service & maintenance of fleet
•Proof of driver/vehiclelocation
and at what time
•Improving cost management
by reducing RUC on screen
Freeing up more St John’s resource to be spent
on their core business of helping people.

The sizeableaddressable marketand our proven winning recipe will continue to deliver
significant growth in New Zealand.
GROWTH
Continued significant unit
growth and market
penetration.
As our customers
businesses expand,
additional growth is
unlocked for EROAD.
TEAM
Experts that partner
with our customers to
make safer and more
productive roads.
MARKET
Customers are using
technology to improve
their businesses and
deliver better outcomes.
PRODUCT
EROAD's technology
continues to grow and
evolve with our
customer's needs.
New Zealand Summary
Significant room for growth

Australia
leveraging off New Zealand’s success
Tony Warwood
Executive General Manager
Australia & New Zealand

Launching into Australia
2019
Building brand in Australia on back of recent regulatory reform
which provides a significant low-cost growth option.
Total contracted units
as at 30 June 2019
1,379
Sales team set
up in late FY19

Market characterisedby multiple competitorsand first-time telematics customers making
urgent 'box ticking' purchase decisions.Now seeing a flight to quality, from previous first-time
buyers and as heavy transport operators become aware ofCOR and H&S obligations.
Value Proposition
•H&S and single in-cab device resonates for customersrecognising this need, especially with the majority
ofour competitors installing telematics under the dashboard.
•Accuracy and reliabilitya key differentiator for customers with existing sub-standard telematics.
•Whole-of-fleet solutions covering trucks to assets is key.
•ATO approval of FBT and Fuel Tax Credit products positive for EROAD, ascustomers awareness is raised
on what they can claim.
•New Zealand reputation for service and delivery outcomes, is recognised by Trans-Tasman fleets.
Competitiveadvantages
•Reliableproduct with accurate data.
•Experience with New Zealand regulation journey.
•Established player in New Zealand market, enables us to capitalise on Trans-Tasman fleet opportunities.
Challenges
•Newcomer to market, building brand awareness and establishing credibility.
•Access to large and effective marketing database.
•Educating the market on the value of reliable and accurate telematics rather than just a dot on a map
solution.
•Targeting heavy fleet customers that don’t require a more comprehensive COR offering.
Competitive Market
•Heavy fleets understand COR responsibility and
have implemented solutions or are looking for
telematics providers with a complete suite of
fatigue, mass and TMS.
•Manycompetitor customers receiving minimal
value as only using for tracking. Opportunity to
deliver a more robust H&S solution to these
customers with Ehubo2.
•Light vehicle market is similar with NZ five years
ago. Customers don’t understand how to value
H&S benefits and looking for ‘dot on a map’
solutions fromcompetitorswith low cost, plug
and play product.
•Larger telematics players have extensive suite of
services, that on the surface ‘tick all the boxes’
for more complex customers.
•Players from the United States not national players.
Market Dynamics

4
th
Apr 2015
New Zealand
Health & Safety At Work Act
Market Driver
Improving worker and public safety
2.5 years
“Any sensible regulator would be in favour of
mandatory safety telematics... EWD is just an
administrative saving, the real benefits come
with safe driving support”
“Self regulation doesn’t work in a fragmented
industry like road freight. It is the role of the
Government and regulator to step in to ensure
we have safer roads”
NSW Police Inspector for Road Safety
“ALC believes that heavy vehicles should carry telematics to discharge
identified statutory requirements identified by an Australian law.
Such obligations could include (in the safety context) measuring speed
and vehicle movements or work diary information, as well as information
outside of the safety context that can be used for road charging purposes.”
Australian Logistics Council
(Toll, Linfox, Woolworths, Coles, QUBE, DGL, LINX, Pacific National etc.)
“What Linfox are doing with the EWD trial
with NSW police will likely become mandatory”
Enterprise Road Freight Transport Operator
1 Oct 2018
Australian
Chain of Responsibility laws in effect

National Heavy Vehicle Regulator established by COAG
2019
Model WHS Law (Cth) implemented
-Model law adopted in NSW, QLD, SA, Tas, NT & ACT .
-WA & Vic yet to adopt (existing legislation is similar).
Heavy Vehicle National Law introduced
-speeding, fatigue and load for all regulated vehicles
Chain of Responsibility substantially strengthened
-from deemed liability to primary & positive duty
Approved EWD roll-out
-break from TCA approach with move to lower cost,
output based standards
Evolution towards mandatory telematics for Heavy Vehicles (>4.5T GVM)
2012
2018
2014
2009
IAP & ISC commenced
Heavy Vehicle Charging & Investment Reform established by COAG
Infrastructure Australia proposes transition from diesel exercise
4,000 individual vehicles now participating in IAP
Federal Government announce RUC trial. Pilot to run till 2020
EROAD telematic partner in RUC pilot.
2007
2016
2017
Market Driver Health and Safety led regulatory change

Inspect
Fatigue Management
Maintenance module
Leaderboard
EROAD has a strong
and attractive product
offering for Australia,
irrespective of any road
funding initiatives.
Delivering solutions for our Australian customers

EROAD has made us more proactive
in keeping the trucks safe.
Maintenance is simpler to manage
and we’re able to keep on top of
things a lot more easily.
Conroy Removals,
Australia
“Road user charges are probably
inevitable at some point”
Enterprise Road Freight Transport Operator
IAP does not work.
Too clunky, too expensive and the
regulations it is trying to enforce are
wrong anyway. Need to rethink the
whole thing and have a much better
road access policy –very possibly
telematics enabled.
There is enormous loss of industry
productivity due to access issues.
Trucking Association Representative

Market Drivers
Heavy vehicle regulator telematics strategy
•Safety-driven regulation a strong driver of adoption in heavy fleets and
choice of solution provider in medium to large light fleets.
•These drivers are likely to become more important over next 2-3 years as:
•National Heavy Vehicle Regulator (NHVR) progresses implementation
of the 2018 changes to Chain of Responsibility requirements
•National Transport Commission (NTC) completes its review of the
Heavy Vehicle National Law
•Transport Certification Australia (TCA) continues in its role as
government assurance body over the use oftelematics and related
intelligent technologies
•Together these three influences will drive growth in demand for telematics
services from drivers, operators/motor carriers and road managers:
•Ignorance of risks will become lessacceptable as a defence for
operators/directors, pushing them towards voluntary uptake of
telematics
•Technology neutral regulations will enable development/deployment
of services that support compliance based on customer need, rather
than waiting for government regulation to catch up.

In Market Team
Our team on the groundMarketing and customer support
provided from New Zealand
•Team of 5 on the ground in Australia currently
•1 Business Development Manager in Brisbane
+ 1 Account Manager
•2 Business Development Managers in Sydney
•1 Sales Manager in Melbourne
•Mix of relevant experience, including with a trans-Tasman
telematics competitor, NZexperience intrans-Tasman
fleets, and with large global technology companies
installing highly complex, customised solutions into
Australian Government fleets.
•Key Account Manager on the East Coast looking after
existing customers, ensuring new customers
(particularlylarger) see value from day one,and receive
the same service promise we deliver in New Zealand.
•New Australian customers serviced by
onboarding, installation and
supportteams in New Zealand to ensure
we deliver on EROAD's service promise.
•Marketing led from New Zealand.
Outbound call centre generating
appointments and building database.
•Working extremely well to maximise
resources and impact.

Australian Summary
Growth through a supportive Trans-Tasman platform
Opportunity for growth aided by right timing for re-entering Australian market (regulatory
changes), increasing brand presence and our gravitas in New Zealand.
GROWTH
Early days in a
competitive market.
Building brand to
execute growth
achieving critical mass
over next 3-4years
TEAM
Strong and capable
team, leveraging off
New Zealand support,
knowledge, and
customer base.
MARKET
Competitive market.
Strong positioning for
EROAD given the
regulatory environment
that is having the same
impact on customers as
New Zealand
PRODUCT
Localisation of our existing
products delivers qualified
solutions for customers.
Additional value provided
with specific FTC & FBC
products.

North America
moving to the next
growth phase
Norm Ellis
President North America

North America now equals
EROAD's size when it listed
2014
North America is now a developed market, contributing
strongly to EBITDA in FY20 and reaching positive EBIT by
the end of FY20
2-yearCAGRofunitsof
114%
ENTERPRISECUSTOMERS NOW
16%
of units
EBITDAup
112%
in FY19
2015
20172019
* As defined in Appendix
**In absolute terms
*** Definedas >500 units for North America
*
**
***

Market Dynamics
The North American market for transportation technology is mature, saturated and highly competitive. Price competition is
common at the low end of the market, while robust solutions including TMS integration, driver workflow, asset tracking, and
cameras rule the top end. Even smaller fleets are demanding more robust solutions.
Value Proposition
Make compliance easy with a verified solution that works reliably,
delivers accurate data and is easy to use for drivers and staff.
Competitiveadvantages
•Brand built on compliance expertise and industry knowledge
•Accuracy, reliability, consistency and ease of use of our solution
•One of the few ELD’s that are independently verified
•Excellent customer service and technical support
Challenges
•Relative newcomer to market, brand awareness
•Heavily outspent by competitors: sales, marketing, R&D, loss leader
strategy
•Gaps in solution reflecting complexity of US regulation and customer
demand for a complete solution
Competitive Market
•300+ ELD/fleet management solution providers
•Rapid investment to expand solutions with
adjacent technologies (asset tracking, cameras,
TMS integration, driver workflow apps)
•Market plagued by quality issues
•Large, established players suffering
customer service quality issues in fleets
below 200
•Some new players not equipped for scaling
customer service and product support
•Many competitors bolted on ELD
functionality to existing fleet solutions,
resulting in frequent and severe product
problems.

Targeted sales strategy maximisingsales impact
Place experienced sellers in key parts of US market and support with training, expert
support from sales engineers, and air cover from national and regional marketing.
•Numbers show active EROAD Ehubounits in each state
•Total of 27,848 units (end of Q1’20)

Growth strategy
•Invest nationally to build EROAD brand and compete in the AOBRD transition and ELD switching.
•Invest and focus resources at specific geographic markets, leveraging field presence to execute local campaigns, create and
build reference networks and foster association relationships.
•Invest in digital marketing platform, target lists and skills to more effectively develop, manage and nurture leads.
National Tactics:
•Paid media campaigns—content syndication,
email, direct mail, webinars, advertising
•Surveys with telemarketing follow-up
•National association events
•Search Engine Marketing/SEO
Regional Tactics:
•List building for targeted campaigns
•Direct email
•Telemarketing
•Association events and media
•Outreach through associations to members
•Referral program to capture references from base

Market drivers: 2017 mandate contract roll-offs
Major ELD adoption in early-mid 2017 yields large
wave of 2 and 3 year contract expirations in 2019,
accelerating into 2020.
•Many fleets purchased low-cost options that are not
effective for compliance or operations.
•Flight to quality has begun with fleets turning away
from Bluetooth solutions and companies not
keeping pace with support demands and changing
HOS rulesets.
•Retaining customers at high rate through solid
product quality, strong service and support, though
seeing defections as customers pursue more
advance product capabilities.
•2017 ELD mandate impacted many smaller fleets
with low adoption of telematics.

Market drivers: AOBRD to ELD transition
Driving Demand through Dec’19
•Fleets using AOBRDs as of the December 2017 ELD
mandate deadline were exempt from ELD adoption
for 2 additional years (deadline: Dec 16, 2019)
•Research shows a large of number of truck fleets still
running AOBRDs and plan to wait as long as possible
to change to ELDs (despite guidance from the
FMCSA, CVSA and others in the trucking industry)
•The 2017 ELD mandate included a wave of last-
minute adopters that underestimated the time to
adequately prepare –a similar event (though smaller)
is likely to happen in Nov 2019 –Jan 2020.
Fleet Size# Fleets# Trucks# AOBRDs
1-9328,000892,00044,500
10-9958,7001,450,00087,000
100-4993,900757,00026,500
500+7001,381,00010,500
TOTAL391,3004,480,000168,500
EROAD Projections of Active AOBRD Units*
* Based on RigDigdata from Aug 2019 and FreightWavesand Driscoll & Associates research
from 2018 and 2019. Assume 50% of trucks not subject to ELD compliance due to short
haul and other exemptions.

Market drivers: 3G sunset driving ELD switching
Driving Demand through FY’21
•Verizon will sunset 3G CDMA in December 2020
•AT&T will complete GSM 3G sunset in Feb 2022
•Estimated 7.5 million in-vehicle devices in the
trucking industry (AOBRDs and ELDs) will need to
be replaced
•EROAD 3G device transition project underway to
replace ~21,000 3G devices with a dedicated
sales resource and operations support resources

North America Summary
Sensible solutions are creating a competitive advantage
Continued delivery of high-quality solutions combined with solid service and support will
continue to differentiate EROAD and draw the marketto us.
* As at 30 June 2019, as defined in Appendix
GROWTH
114% CAGR in Total
Contracted Units*
over 2 years
Successfully growing
both SMB &
enterprise
TEAM
Continued growth and
performance steered
from solid
management team
MARKET
Switching behavior
driven by 3G sunset,
AOBRD transition and
accelerating contract
roll-outs
PRODUCT
Increased sales
enabled by additional
solutions being
offered to NA fleets.

With EROAD, we are saving a few
thousand dollars per month in
administrative time for fuel tax
reporting and realizing fuel tax
savings of at least $200,000
annually.
Recoil Oilfield Services, USA

Building growth opportunities
with high quality innovation that scales
Jarred Clayton
Chief Technology Officer

Regulation and innovation fueling growth
•Our market growth is fueled by regulatory change. Our customers start with compliance needs
and go on a maturity journey which sees increasing expectations.
•Transport is a large addressable market traditionally resistant to change –regulatory pressure
is changing the landscape, and the market is now leveraging technology to be more productive.

Competition
•We are not alone in this race with a large
investment in FreightTechsimilar to what
FinTech experienced.
•We are competing in major markets with
Omnitracs, Verizon, Teletrac Navman, Mix
Telematics, Keep Trucking and Samsara.
•They all have significantly larger R&D
investment than EROAD with Omnitracs
having 600 engineers spending ~$107M
NZD on R&D (18% of revenue).
•Selecting the highest impact investment
for EROAD and our customers is key.

Investment bench marking
•Successful SaaS companies +/-2 years from IPOspend 23% of revenue on R&D (review of 73 publicly traded companies).
•Investment continues as companies scale, maintain, upgrade technology and enhance products.
•Technology companies need to invest to continue delighting customers, maintain ARPU and remain competitive in a
constantly changing world.
•EROAD’s R&D investment of between 18 -22% of revenue is modest based on our three markets and high growth category.
25% average

How we win
•We are known for our high quality and easy to use
solutions.
•We work alongside our customers to understand
their needs, developing solutions to their problems.
•We have a strong team working collaboratively on
customer problems to achieve our goal of 250,000+
•We focus on speed to value for our customers –and
make build, partner or buy decisions appropriately.
•Where possible we leverage existing technology and
innovation from partners.

R&D Investment profile
•18% -22% investment in R&D
•We spend 60% on customer
facing products and services

Ideas and strategic portfolio management
•We work with our customers focusing on their
requirements, pains and gains.
•We are continually enhancing the value
propositions we have today and adding
disruptive innovation to the portfolio.
•Business cases are used to take ideas with the
highest impact to explore / learn and then
again to enter a build phase based on that
learning.
•Buy, build, partner evaluation and decisions
are made as part of the strategic portfolio
management and business case.
•We focus on ideas from multiple inputs,
funnelling these through a process of rapid
learning, discarding most and following
through on high impact ideas.
•We are continually learning and adapting to
ensure the high impact ideas pay and deliver
value.

How we select winning ideas
•Through an Integrated Business Planning process,
we align goals to our next milestone of 250,000+.
•We practice GIST(Goals, Ideas, Step projects,
Tasks) planning.
•We work as an integrated team (customers, sales,
product managers, R&D etc) drawing ideas to
deliver against our goals.
•Ideasare filtered and rated using ICE (Impact,
Confidence, Ease) scoring.
•The highest rating step projectsare then approved
to go into learning, the best ideas make it into
build, and tasksget created.

Key questions
when investigating new ideas
Value risk:
Will the customer buy this?
Usability risk:
Can the user figure out how to use it?
Feasibility risk:
Can we build it?
Business viability risk:
Does this solution work for our business?

Our structure
•Engaged team of around 85 people in the product, design and engineering team, all focused on customer problems.
•We are a diverse team, working in trusted collaboration. We have strong backgrounds coming from Atlassian, Amazon,
BMW, Bosch and others.
•The people are in self contained teams focused on a value proposition for our customer –i.e. Tax, ELD etc. Each team
includes relevant roles i.e. product managers, UX design, software engineers and quality assurance.
•We have a strong leadership team that supports our people to grow and succeed.
Team / LeaderTaxELDFatigue ANZDriver safetyService and maintenanceFleet ManagementCore ServicesIn-vehicle hardware
VP ProductProduct ManagerProduct ManagerProduct ManagerProduct ManagerProduct ManagerProduct ManagerProduct ManagerProduct Manager
UX DirectorUX DesignerUX DesignerUX DesignerUX DesignerUX DesignerUX DesignerUX DesignerUX Designer
Technical LeadTechnical LeadTechnical LeadTechnical LeadTechnical LeadTechnical LeadTechnical LeadTechnical Lead
QA LeadersQuality AssuranceQuality AssuranceQuality AssuranceQuality AssuranceQuality AssuranceQuality AssuranceQuality AssuranceQuality Assurance
Level 3 Customer Support
Software EngineersSoftware Engineers
Software
Engineers
Software
Development
Managers
Solutions Architects
Site Reliability Engineers
Teams supported with architects, site reliability engieers and level 3 customer support
Software EngineersSoftware EngineersSoftware EngineersSoftware EngineersSoftware Engineers

Winning
through
learning and
adapting
Teams work in two week sprints on goals aligned
to our next milestone of 250,000+ subscribers
Friday, at the end of the sprint, teams demonstrate
and celebrate success against goals to the wider
organization.
Friday afternoon is dedicated to innovation time where
hackathon ideas are progressed, tooling improvements
are made and new technology is experimented with.
We experiment aggressively, analyze customer feedback
and monitor their interactions with the product.
Feedback loops are included to ensure we adapt and
evolve from rapid feedback.

Leaderboardgives us all the names
of the drivers and how they perform
through the week.
I keep a record of it so I can see how
I perform and how other drivers
perform –because I’m involved with
their health and safety.
It’s all about driving safely and
getting home safely. That’s why you
should have EROAD.
Machinery Movers,
New Zealand

R&D Summary
Continued investment in R&D critical
to delivering reliability, scalability, quality and growth
•High growth through regulatory change and
customer innovation expectations as they go on a
maturity journey
•Continue to invest between 18 -22% of revenuein
R&D
•There is a robust process to ensure high impact
ideas we build confidence in are selected through
the funnel
•Highly engaged and diverse team working on solving
customer problems leveraging innovation off the
shelf
•Culture of learning and adapting to ensure we stay
relevant
•Continue to work incredibly closely with our
customers to help them solve tomorrow’s problems

Accelerating
smoothly
Alex Ball
Chief Financial Officer

✓Transformational
change in key
business systems
✓Automating key
processes
Scaling the business
Spend on scaling the business
•FY20: approx. $5-6m 20% of which is opex.
•FY19: $1.0m opex, $1.4m capex
✓Executive team build
✓Investment in people
✓Capability in key teams
✓Talent management
✓Change management
✓Integrated Business Planning
✓Simplifying, standardizing, automating
✓Customer Success Process
✓Investment in key capabilities
to keep pace with growth

Scaling the business –operating leverage
•Operating leverage will be significant from FY21 onwards
•This will be in form of:
▪Reduced costs from simplification, standardization and
automation of manually intensive processes around:
oCustomer onboarding
oSwitching activity
oBilling and collections
▪Avoided incremental costs as EROAD grows its customer base
further
•This may not all translate directly into increased EBITDA as
we will continue to invest for growth where it maximises
shareholder value

Growth through programmatic acquisition
EROAD chooses to grow
•Our growth will not
solely be organic
•Inorganic opportunities
will increasingly present
themselves in a consolidating
industry
•We need to successfully and
repeatedly evaluate, execute
and integrate acquisitions that
fill gaps around product,
subscribers and capacity
Building acquisition capability
•Developing the capability to
successfully and repeatedly
evaluate, execute and integrate
acquisitions is necessary
•Will undertake this capability
build in FY20 so we are ready
to execute late FY20 or FY21
as the right opportunities are
identified
•Will build a capability gap
analysis, set guiding principles
and refine our investment filter
to identify the right
opportunities
•This will include accessing
external resource as necessary
together with upskilling internal
resource

Fueling the business
•EROAD's current debt financing is a combination of
CCAF and Term debt:
▪provides upfront funding based on a % of new
sales contracted value added
▪funding upfront for hardware, installation and
CAC.
▪Monthly repayment/amortisationprofile
aligned with the term of the customer contract
▪At each refinance date amounts drawn on
CCAF facilities are converted to term debt
▪Term debt has quarterly repayment profile, on
33-month repayment/amortisationprofile
•We will review our capital structure
▪Reviewing the needs of the business over a 5-year
time horizon
▪Modelling baseline and associated upside and
downside scenarios for differing growth trajectories
▪With that context, we will determine a long-term
sustainable capital structure for EROAD
▪From there we will draw up a transition plan to move
from the current funding sources to long term
structure, including the role for equity and debt
financing of both organic and inorganic growth
•Where we still see that there is a better opportunity to
grow shareholder value, we will invest for growth as
opposed to commence dividend payments

Monitoring Performance: Key Metrics
•We have seven key
metrics the company and
the market can measure
our performance by as at
31 March 2019
•We also use measures of
overall lifetime value
when considering the
impact of new customer
deals and the value of
new business added in
each of our markets
*
Defined in appendix

Optional subhead up to threelines...
optional subhead up to threelines...
optional subhead up to threelines...
Monitoring Performance: Metric trend
ARPU increased year on year and we
are working to increase this further
even as we grow
As ARR is also very important we look to
maintain this very high level through
renewal programmesin key markets
FCI will increase as we grow in FY20 as
will AMRR (baseline figure included as
at 31 March 2019)
R&D%* will stabilisein 18-22% rangeCAC* will remain at similar levels due to
AU market entry but decrease over time
CTS will improve over time as
scale and leverage increases
54.3
55.1
0
10
20
30
40
50
60
FY18FY19
Monthly SAAS* ARPU ($)
$100.50
$117.40
$-
$20
$40
$60
$80
$100
$120
FY18FY19
FCI*($000,000)
R&D* as % of RevenueCAC* as % of Revenue
95.8
94.4
0
20
40
60
80
100
FY18FY19
ARR* (%)
CTS* as % of Revenue
*Defined in appendix

Optional subhead up to threelines...
optional subhead up to threelines...
optional subhead up to threelines...
Path to growth
•EBIT from developed markets continues to increase
rapidly
•North America is now a developed market,
contributing strongly to EBITDA in FY20 and
reaching positive EBIT by the end of FY20
•Australia expected to deliver positive EBITDA in
the next 3-4 years, at lower sales levels than
was required for North America reflecting its
lower cost to serve
•Investment in scaling the business will deliver further
operating leverage from FY21 onwards at the
EBITDA level
•While we continue to see strong growth opportunities
we will invest in these, including through R&D (18-
22%)to maximiselong-term shareholder value
•Organic growth achievable through existing cashflow
and funding channels
•Look to acquire complimentary businesses. All
medium and large acquisitions will be equity funded

Before we adopted EROAD, we
prepared quarterly returns manually,
and it could take two weeks to get all
of the information and to recreate
each trip. With EROAD it takes ten
minutes.
Hat Creek Construction &
Materials, USA

Wrap up Q&A
Steven Newman

We have a unique customer value proposition that wins, retainsand growsARPU per customer
KeyTakeaways
We have an energised andcapable team of EROADers
We will continue to investin R&D critical to delivering reliability, scalability, quality and growth
We will capitalise on a large and growingpipelineof organic and acquisition opportunities
We are choosing to grow–our next milestone is 250,000+units

Strong governance supporting
growth aspirations
Graham Stuart
Chair

Board of Directors
•Committed to maintaining the highest standards of conduct and accountability
•The Board is focussed on performance, compliance and seeing the big picture
•Moving to six scheduled meetings annually, each with a deep dive into key areas of the business
•Board renewal underway
•Gregg Dal Ponte resigned effective April 2019
•External review undertaken by Caldwell Partners earlier this year
•Susan Paterson appointed April 2019
•Global search underway for North American focussed director. Appointment expected by December 2019
•Another search anticipated in first half of 2020
•LTI scheme in place focused on our 250,000+ growth target

Governance expertise
CEO/Exec
Leadership
Finance/
Risk
Technology
(SaaS/
Software)
Customer/
Marketing
M&AInternationalIndustryListed
Innovation/
Growth
Current Board
Future Director 1
YesYesYes (US)Yes
Future Director 2
YesYesYes (AU)Yes
Source: Caldwell Partners report, March 2019

ESTABLISHING THE PLATFORMSCALING FOR GROWTHCHOOSINGTOGROW
•Recognised pioneer in regulatory
telematics
•Unique and compelling product,
driving growth and retention of
customer base
•Product enhancements delivering
further retention and increased ARPU
•Market leader in New Zealand,
emerging in North America and
launching in Australia
•Strengthened leadership team and
deepened capabilities in key areas
•Invested to strengthen systems
capability
to support growth aspirations
•Continued high level of innovation and
investment in R&D
•Achieved critical milestone of
100,000 subscribers, now aiming for
250,000+
•Existing cashflow and debt facilities
to fund organic growth
•Seeking opportunities to acquire
complementary businesses
•Poised to become a global leader
in vehicle telematics
Safer and more productive roads
Energised and capable team of EROADers
Creating Shareholder Value

What's on the Board's agenda?
PERFORMANCE
Measuring the right things,
not just financial metrics
•Delivery against plan
•Lead indicators on
customer satisfaction and
retention
•Quality of revenue and
ARPU
•Investment in R&D
•Staff engagement and
retention
COMPLIANCE
Setting the tone from the top
•Promoting an open and
engaged culture,
actingethically and
responsibly
•Sound risk taking culture
and effective risk
management
•Conscious of cyber security
threats and protecting our
customers' privacy
FOCUSED ON
THE BIG PICTURE
Staying ahead of the business
and anticipating pinch points
•Maintaining an up to date
industry awareness
•Making the business model
scalable
•Investing wisely in R&D
•Ensuring access to capital at
the right cost
•Board renewal

Appendix

STEVENNEWMAN
CEO / Director
Steven has led and inspired
the organisation since
2007.Previously Steven co-
foundedNavman where his
COOand CEO roles provided
the opportunity for himto
establish Navman as a
leading international brand
within the Marine
Electronics,Fleet Tracking,
Precision GPSModules and
Consumer CarNavigation
sectors.
GENEVIEVETEARLE
Chief Marketing Officer
Genevieve joined EROAD
in October 2018 and is
responsible for developing
capabilities in marketing
strategy, demand
generation, and product
marketing management.
She has previously held
key marketing roles in
global corporates like
Philips and Fisher &
Paykel, working across
Europe, Asia, and
Americas in both B2C and
B2B environments.
TONY WARWOOD
General Manager
Australia & New Zealand
Tony leads our ANZ
business, delivering great
customer service and
business growth both sides
of the Tasman. He joined
EROAD with our first
customers back in 2009,
having previously worked in
the heavy transport
industry.
NORM ELLIS
President North America
Norm joined EROAD in
2017 to lead our North
American business. He
was previously COO at ID
Systems, Inc., a producer
of wireless asset
management systems for
the transport sector. Prior
to that he led sales,
services and marketing for
Omnitracs in the US and
Canada for nearly 17
years.
JARRED CLAYTON
Chief Technology Officer
Jarred leads product, design
and engineering at EROAD
and is responsible for
ensuring that our technology
strategy is future-focused
and solves customer
problems. He has held
several leadership roles
since joining EROAD back in
2008, bringing extensive
leadership experience
gained in product and
consulting companies in the
UK, America and Australia.
ALEX BALL
Chief Financial Officer
Alex joined EROAD in January
2019 and is responsible for
delivering a competitive
business that delivers
shareholder value. His
previous roles include CFO at
some of NZ’s largest
companies including
Transpower, TelstraClearand
Vector as well as working for
a leading accountancy firm
here and overseas.

MARK HEINE
EVP General Counsel
and Company Secretary
As General Counsel and
Company Secretary, Mark
works with the team on all
aspects of company and
product legal compliance
and data privacy. Mark
joined EROAD in 2015 after
a legal career working at
Bell Gully in Auckland and
Allensin Sydney.
MIKE SWEET
Chief People Officer
Mike joined EROAD in
January 2019 to lead people
and culture development. His
global HR work experience
includes NZ, Australia, the UK
and the USA. His strong
affinity for software and
technology sees him
providing strategic HR advice
to some of NZ’s leading tech
growth companies. Mike’s
most recent role was General
Manager HR at Spark.
MATT DALTON
EVP Operations
Matt joined EROAD in March
2019 to focus on delivering
cohesive operational
procedures across EROAD’s
global markets for both
supply chain and business
systems. Matt was previously
at Yellow New Zealand.
SARAH THOMPSON
Vice President of Product
Sarah joined EROAD in March
2019 to oversee our product
research and development.
She brings a wealth of
experience to this global role
that includes creating and
executing product strategy
across a range software
companies, delivering to
health and large insurance
organisations globally. Sarah
joined from a similar role at
Orion Health.
SUE-ELLEN CRAIG
Director of Communications
Sue-Ellen joined EROAD in
January 2019. Her global PR
experience was gained on
premium brands like
Samsung, Apple and FBL Ltd,
and she has led the strategic
communications for NZ’s
leading regulatory and legal
issues.
Sue-Ellen was previously at
SweenyVesty.
SEAN CHURCH
Senior Vice President Finance
Sean was acting CFO during
2018 and leads our group
financial planning. He has held
senior finance roles within NZ
and the UK, after his early
career at KPMG. Sean joined
EROAD in 2015 and has held
responsibilities for financial
control, managing our North
American finance function and
group financial planning.

GRAHAM STUART
Chairman
Graham joined the
EROADBoard in January
2018 andwas appointed
Chairmanin August of the
same year.He was
previously CEO ofSealord
Group, CFO thenDirector
of Strategy & Growthat
Fonterra and has had
extensive business
experiencein South East
Asia, Europe,the UK and
Latin America.
Member of Remuneration,
Talent and Nomination
Committee.
MICHAEL BUSHBY
Independent Director
Michael stepped down as
Chairman in August 2018,
having led the Board since
2012. Michael is based
in Australia where he is a
consultant at WSP Australia
and previously held roles as
General Manager of the
VentiaAsset and
InfrastructureServices
division and CEOat the Roads
and TrafficAuthority in New
SouthWales.
Member of Remuneration, Talent
and Nomination Committee and
Finance, Risk and Audit
Committee.
TONY GIBSON
Independent Director,
Tony is the Chief Executive
of Ports of Auckland andone
of New Zealand’s most
experienced transport
professionals. He has
workedin various senior
managementroles in Africa,
Asia andEurope. In 2008
the Ministerof Transport
appointed him tothe Road
User Review Group.Tony
joined the Board inOctober
2009.
Chairman of the Remuneration,
Talent and Nomination Committee
and Member of Finance, Risk and
Audit Committee.
CANDACE KINSER
Independent Director
Candace is an
experienceddirector, CEO
and Techentrepreneur.
She waspreviously the
CEO of theNZ Technology
IndustryAssociation and
the CEO ofscience
software company
Biomatters. She is a
Directorof companies
includingTalent
International, Livestock
ImprovementCorporation,
WEL Network Limited and
Ultrafast Fibre Limited.
Candace joined the Board
inApril 2014.
Member of Remuneration, Talent and
Nomination Committee and Finance,
Risk and Audit Committee.
SUSAN PATERSON
Independent Director
Susan joined the Boardin
March 2019. She is an
appointed Officer of New
Zealand Order of Merit
(services to governance)
and currently chairs Steel
and Tube Holdings and IT
consultancy Theta Systems.
She is a director of the
boardsof the Electricity
Authority,ArvidaGroup,
Goodman NewZealand, Les
Mills Holdingsand Sky
Network Television.
Chair of the Finance, Risk and Audit
Committee, Member of Remuneration,
Talent and Nomination Committee.
STEVEN NEWMAN
Executive Director / CEO
Steven has been EROAD’s
chief executive and a
memberof the EROAD Board
since2007. He co-founded
Navmanwhere his COO and
CEO rolesprovided the
opportunity forhim to
establish Navman as
a leading international
branddelivering annual
sales inexcess of NZ
$500m.

.
EROAD pioneered regulatory telematics to
solve problems for our customers
REGULATORY COMPLIANCEFLEET MANAGEMENTDRIVER MANAGEMENTROAD SAFETY
Daily Fleet Activity
Complete record of daily vehicle activity that helps you
meet agreed customer service levels.
Geofence Site Activity
Monitor time and activities at customer sites, helps
improve your service levels. Supports billing and
detention time concerns.
Fuel Management
Reduce fuel costs though improving your fuel efficiency
across your vehicle fleet.
EROAD Share
Share vehicle and fleet information securely and easily
with customers and businesses in your supply chain.
Idle Report
Improve fuel economy and reduce engine wear and tear
by monitoring and reducing unnecessary idle time.
Trip Investigator
See exactly where your vehicles have traveled the
previous day or week to ensure service levels, identify
wasted miles and optimize routes.
U Book-It
Fleet booking system accessible from any device with
real time visibility and utilization tools.
FLEET VEHICLE HEALTH
Service Record History
Record and access service records with supplier, service
details, costs, invoice details and unplanned repair work.
Maintain a complete service history archive for all
Outsourced Repair Service Access
Give maintenance services suppliers access to select
vehicle service reports to save time and costs.
Service Scheduling and Alerts
Set up schedules for PMs and other routine services by
service type, vehicle type and elapsed miles, days or
hours. Pull reports and get notifications for servicing
Daily Driver Activity
Review daily activity by driver to monitor productivity, site
visits, out of route miles, and stop times.
Driver Certifications
Maintain driver certifications and licenses. Search drivers
by certifications. Get alerts on upcoming renewals.
Leaderboard
Stack rank your team based on safe driving behavior.
Benchmark performance against tens of thousands of
other drivers.
Driver Insight
Detailed reports on individual driving behaviors, safety
incidents and trends for objective data-driven coaching.
Speed Monitoring
Use posted speed limits, speed thresholds and speed
zones to monitor and correct drivers’ speeds and reduce
risk, violations and fuel use.
Safety Event Monitoring
See harsh braking and acceleration events with trends by
location and driver to help you better understand safety
risks
AUTORUC (NZ)
Pay securely through our bank-grade system 24/7, with
license sent electronically directly to the vehicle. No paper
work, reduced risk of penalties, purchase amounts as you
need them.
Off-Road Claims (NZ)
Automatically generate off-road reports sending them to
NZTA in a few simple clicks to claim your RUCOR refunds.
IFTA Fuel Trip Records (US)
Captures distance and exempt trip details per vehicle per
month as well as fuel fills entered or imported. IFTA Fleet
Summary provides summaries by jurisdiction and vehicle
(monthly, quarterly, and yearly) for audit purposes. Data
retained and stored for at least four years.
IFTA Easy File (US)
Generate a file that can be used as your IFTA return with a
click of a button in jurisdictions where available.
Electronic IRP (US)
Automatically generate the required trip data including
miles driven, jurisdiction, and state line crossings to
support IRP registrations.
Electronic Oregon WMT (US)
Automatically generate and submit required trip data
including distance, location, weight/ axle configuration, and
state line crossings to meet WMT filing requirements.
Electronic Oregon RUAF (US)
Automatically generate the required trip data including
miles driven, jurisdiction, and state line crossings, routing
and weight/axle configuration. Submit and pay your
monthly RUAF directly to ODOT with the click of a button
Fringe Benefit Tax (AU)
Our ATO approved solution is really easy to use, giving you
time to spend elsewhere.
Easy-to-use ELD (US)
Industry leading HOS e-logs certified by FMCSA and PIT
Group (3rd party). Highly accurate data with consistent
performance.
Electronic LogBook (NZ)
NZTA approved logbook that alerts drivers to prevent
violations. Secure, accurate records make roadside
inspections easy.
Chain of Responsibility (AU)
One platform to rule them all, delivering accurate reports in
just a few simple clicks.
Speed Monitoring
Use posted speed limits, speed thresholds and speed
zones to monitor and correct drivers’ speeds and reduce
risk, violations and fuel use.
Safety Event Monitoring
See harsh braking and acceleration events with trends by
location and driver to help you better understand safety
risks
Integrated DVIR workflow
Report defects and certify repairs as part of drivers’ HOS
logging. Dashboard for managing defects. Three-signature
verification.
Our Insights and Analytics
EROAD has been chosen as the sole heavy vehicle
technology provider by transport authorities across the USA
as they research and investigate appropriate funding
options for future transport networks.

Glossary
Automatic On Board Recording Device (AOBRD)
AOBRDs are electronic devices that can be used to
automaticallyrecord drivers’ hours ofservice.
Depot
EROAD’s web-based platform that allows customers to
manage(and pay) their RUC, WMT and fleet management
services.
Electronic Logging Device (ELD)
An electronic solution that synchroniseswith a vehicle
enginetoautomatically record driving time and hours of
servicerecords.
Ehubo1 and Ehubo2 (GEN1 and GEN2)
EROAD’s first and second generation electronic distance
recorderwhich replaces mechanical hubodometers. Ehubois
a trade markregistered in New Zealand, Australia and the
UnitedStates.
Driver Vehicle Inspection Report (DVIR)
A report created by a driver identifying defects and safety
risks toacommercialvehicle.
Heavy Vehicle
A truck, or a truck and trailer, weighing over:3.5 tonnesin
NewZealand (required to pay RUC); 12 tonnesin Oregon
(required topayWMT); or 4.5 tonnesinAustralia.
International Fuel Tax Agreement (IFTA)
A cooperative agreement between all states (excluding
Alaska andHawaii) of the United States, and the Canadian
provinces,designedto make it simpler for inter-jurisdictional
carriers to report and payfuel excise taxes, requiring only
one fuel licenceto operate acrossmultiplejurisdictions.
International Registration Plan (IRP)
An agreement between all states (excluding Alaska, Hawaii
and Washington D.C.) of the United States, and the Canadian
provinces, for the registration of inter-jurisdictional vehicles.
Registration fees are paid to a fleet’s base jurisdiction, which
then distributes them to other jurisdictions based on the
miles travelled in each member jurisdiction.
Units on Depot
The number of EROAD devices installed in vehicles and
subject toa service contract with acustomer.
Units Pending Installation
The number of EROAD devices subject to a service contract
witha customer but pendingInstallation.
Total Contracted Units (TCU)
Total Contracted Units represents the total Units subject to a
customer contract and includes both Units on Depot and
Units PendingInstallation.
Future Contracted income (FCI)
A non-GAAP measure which represents contracted Software
as a Service (SaaS) income to be recognised as revenue in
futureperiods. Note that this definition has changed from
the previous period in order to align with the change in
adoption of NZ IFRS 15 and NZ IFRS16.
Recurring Revenue
The Software as a Service (SaaS) revenues EROAD
recogniseson a recurring monthly basis in accordance with
the groups revenue recognitionpolicy.

Glossary
Annualised Monthly Recurring Revenue (AMRR)
Annualised monthly recurring revenues (AMRR)
represents monthly Recurring Revenue for the last month
of the period (March), multiplied by 12. It provides a 12
month forward view of revenue, assuming unit numbers,
pricing and foreign exchange remain unchanged during
the year.
MonthlySaaSARPU
Monthly Software as Service (SaaS) Average Revenue Per
Unit is calculated by dividing the total SaaS revenue for
the year divided by the total of the TCU balances at the
end of each month during the year.
Costs to Acquire Customers (CAC)
Costs to Acquire Customers (CAC) are Non-GAAP
measures of costs to acquire customers. Total CAC
represents all costs Sales & Marketing related costs. CAC
Capitalised includes incremental
sales commissions for new sales, upgrades and renewals
which are capitalised and amortised over the life of the
contract. All other CAC related costs are expensed when
incurred and included within CAC Expensed.
Costs to Service & Support (CTS)
Is a non-GAAP measure of costs to Support and Service
customers. Total CTS represents all Customer Success
and Product Support costs.
Asset Retention Rate
The number of Total Contracted Units at the beginning of
the 12 month period and retained as Total Contracted
Units at the end of the 12 month period, as a percentage
of Total Contracted Units at the beginning of the 12
month period.
Customer Retention Rate
Asset Retention Rate excluding contraction in existing
customer Total Contracted Units when customer
remained with EROAD.
Road User Charges (RUC)
Charges payable under the New Zealand Road User
Charges Act 2012 in respect of the distance travelled by
a RUC vehicle on a road. In New Zealand, RUC is payable
for heavy vehicles and all vehicles powered by a fuel not
taxed at source. The charges go towards the cost of
repairing roads.
Weight-Mile Tax (WMT)
A mileage-based tax imposed on Heavy Vehicles
according to a combination of the number of axles
and/or combined weight of the vehicle and the number
of miles driven in Oregon, USA.
EBITDA
Is a Non-GAAP measure representing Earnings before
Interest, Taxation, Depreciation and Amortisation
(EBITDA).
EBITDA Margin
Is a Non-GAAP measure representing EBITDA divided by
revenue.

Ongoing Disclosure Notice – Jarred Clayton EROAD’s North American Growth Trajectory

Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.