Investor Day Presentation

EROAD
INVESTOR DAY
21 March 2023

EROAD INVESTOR DAY ATTENDEES
2
CEO –MARK HEINE
-CEO of EROAD since April 2022 (General Counsel
and Company Secretary since 2015)
-Previously at Bell Gully and Allensin technology,
corporate and commercial, M&A, litigation, privacy,
IP and antitrust law
NON-EXECUTIVE DIRECTOR –SELWYN PELLETT
-Co-Founder of Coretex
-Founder of multiple New Zealand-based
technology companies including Endace
and Imarda(which merged with
International Telematics to create Coretex).
PRESIDENT NA & CHIEF INNOVATION
OFFICER –AKINYEMI KOYI
-President of North America & Chief Innovation
Officer since 2022
-Previously, Chief Operating Officer and Chief
Technology Officer of Coretex.
CHAIR –GRAHAM STUART
-EROAD Chair since August 2018 and Director
since January 2018
-Previously CEO of Sealord Group
-CFO, then Director of Strategy & Growth at
Fonterra
-On Boards of Metro Performance Glass (MPG-
NZX), the manager of Vital Healthcare (VHP-NZX),
and Tower Insurance (TWR-NZX).
CFO –MARGARET DELANY
-CFO of EROAD since November 2022 (Group
Financial Controller since September 2020)
-Senior finance roles at Summerset Group,
Statistics NZ, Housing New Zealand and Inland
Revenue
EGM AUSTRALIA & NZ –KONRAD STEMPNIAK
-General Manager, Australia since March 2021.
-Previous experience includes a number ofroles
at Kennards Hire including strategic
operations, technical sales, and new ventures

CONTENTS
Trading Update & Guidance
Key Opportunities
1.Customer Mix
2.R&D Payback
3.North America Market Fit
4.Unit Economics
EROAD Tomorrow
•Repositioning to Generate Cash & Drive Growth
•Strategy Timeframe
•Financial Outlook
•Key Metrics
•Positioned for market growth
3

4
01
WELCOME &
OPENING REMARKS
GRAHAM STUART (CHAIR)

TRADING UPDATE & GUIDANCE
Trading Update
•New Zealand & Australia continue to deliver solid growth
with new client wins (e.g.Fonterra)
•Focus on business optimisationand cost efficiencies driving
demand in NA but longer sales cycles prevailing
Guidance Reiterated
•FY23 revenue guidance updated on 27
th
February due to:
•Delay in Sysco roll-out;
•Increased one-off & inflationary costs; and
•Refocusing of R&D program
•Reiterating guidance based on trading YTD
Free Cash Flow neutral by FY25, positive by FY26
•Implementation of refreshed strategy will
provide pathway to sustainable, profitable growth
5
FY23 Guidance
Revenue$159m –$164m
Normalised EBIT$(6)m –$(3)m

6
FY23 RECAP
•Difficult market conditions over the last year impacting operations
including:North America customers facing macro-economic challenges
resulting in delayed customer decision making and EROAD facing increased
competition broadly
•Strategic review announced in November 2022 to address future direction
•Right-size the cost base of the business;
•Generate positive Free Cash Flow; and
•Capitalize on significant growth opportunities in key markets.
•Enterprise accounts
•Won Sysco in North America (greater than 9,000 connections);
•Won Fonterra in New Zealand taking full product suite (cameras,
Ehubo, and satellite); and
•Renewed ABC in North America (6,000 connections).
•Senior management team transition with:
•Key recent appointments (CEO and CFO)
•Appointed Chief Transformation Officer, Chief Operating Officer and
Chief People Officer, and
•Retention of Coretexsenior leadership.

7
02
KEY
OPPORTUNITIES
MARK HEINE (CEO)
MARGARET DELANY (CFO)
AKINYEMI KOYI (PRESIDENT NORTH AMERICA &
CHIEF INNOVATION OFFICER)

INTEGRATED SOLUTIONS OVERVIEW
8
COMPLIANCE AND ASSURANCEPRODUCTIVITYHEALTH & SAFETY
•Driver behaviourmonitoring and
feedback
•Electronic logbook
•Vehicle inspections
•Speed monitoring
•Incident detection, alerting and
replay
•RUC and fuel tax compliance
—Electronic, automated RUC
purchases and claims
—Fuel tax reporting and IRP1
registration
•Industry-specific solutions
—Cold chain assurance
—Construction assurance
—Waste and recycling assurance
•GPS tracking and geofencing
•Fleet maintenance
•Fuel management and idling
reports
•Vehicle inspections
DashcamsIoT hubsTracker and sensors
SUSTAINABILITY
•Fuel management and idling
reports
•Fleet utilisation
•Decarbonisationassessment
& insights
1
1
Launching 2023.
2
. Proprietary and 3
rd
party hardware
POWERED BY
2
EROAD PROVIDES A COMPLETE CONNECTED NETWORK THAT CONNECTS WITH
CUSTOMERS’ SYSTEMS, ALLOWING THEM TO TURN DISPARATE DATA INTO ACTION

KEY MARKET SIZE
9
NORTH AMERICA
One of the largest markets with
significant long-term growth
prospects
~3k
CUSTOMERS
Targeting growth
through whole-of-fleet
solutions and Enterprise
accounts
NEW ZEALAND
AUSTRALIA
Cash generative geography with
leading market position in
target verticals
Opportunity to leverage leading
New Zealand market position
for trans-Tasman fleets
~6k
CUSTOMERS
Targeting growth
through multi-product
penetration
Targeting growth
through whole-of-fleet
solutions for SMB and
penetration into trans-
Tasman customers
~350
CUSTOMERS
REVENUE
1
NZ$68m
TAM
2
US$1.0b
REVENUE
1
NZ$80m
TAM
2
US$0.1b
REVENUE
1
NZ$8m
TAM
2
US$0.2b
OUR SOLUTIONS ADDRESS A LARGE, AND FAST-GROWING MARKET OPPORTUNITY
2022
US$1.3b
2030
US$2.8b
Total telematics profit pool
2022 vs 2030 for geographies
EROAD serves
2
1
Revenue figures are first half FY23 annualised
2
. Source: ACT Research, I.H.S, Berg, Expert interviews, Fleet manager interviews, reported financials

OPTIMISING THE BUSINESS MODEL
10
REPOSITIONING TO GENERATE CASH & DRIVE GROWTH
TURN AROUND THE CORE
Drive cash and efficiency focus across the business
GROW NORTH AMERICA
Drive revenue growth from enterprise customer
whole-of-fleet solutions and integration
•Tailoring of service levels to drive performance
•Streamline R&D functions and refocus spend
•Drive operating efficiencies to right-size cost base and
generate operating leverage
•Completed $10m in cost out, another $10m in cost-out
targeted
•Target transportation vertical, whole-of-fleet solution in North
America customers
•Complete scalable and competitive product offering for
enterprise
•Scale up North American-focused enterprise sales team
•Strategic review to identify partners to accelerate
North American strategy
STRATEGIC REVIEW IDENTIFIED 4 KEY OPPORTUNITIES
THE STRATEGIC REVIEW IDENTIFIED 4 OPPORTUNITIES FOR OPTIMISATION,
WE HAVE A CLEAR PATH TO GENERATE POSITIVE FREE CASH FLOW + DRIVEGROWTH
1.Customer mix necessitates a segmented service
model
2.R&D paybackcan improve through faster speed to
market and prioritisedprojects
3.North American business requires differentiated
product offering to deliver to large enterprise
market
4.Unit Economics improve as cost-out initiatives are
realisedand customer growth occurs

•Challenge #1
OPPORTUNITY #1
CUSTOMER MIX
11
Customer mixnecessitates a
segmented service model

12
CUSTOMER CONCENTRATION (2022)
Customer Geography
FY22A
recurring
revenue
Customer 1North America
6%
Customer 2North America
3%
Customer 3New Zealand
2%
Customer 4North America
2%
Customer 5North America
2%
Customer 6New Zealand
2%
Customer 7North America
2%
Customer 8Australia
1%
Customer 9North America
1%
Customer 10North America
1%
Total
22%
TOP 10 CUSTOMERS (2022)
•
Strong relationships with
blue-chip customers
resulting in a diversified
customer base and high
retention
•
EROAD has low customer
concentration with the top
10 of its customers
accounting for 22% of FY22A
revenue. In addition to
being diversified by
customer, revenue is
diversified by geography,
customer size and industry
CUSTOMER MIX
DIVERSE
CUSTOMER BASE
DIVERSE CUSTOMER BASE ACROSS FLEET SIZE AND INDUSTRY HAS BEEN
INSTRUMENTAL TO GROWTH TO DATE
65%
35%
New Zealand/ Australia
United States
51%
36%
13%
Enterprise
Mid-size
Small
Revenue
by
customer
size
Revenue
by
geography

13
EROAD CUSTOMER BASE BY REVENUE CONTRIBUTION
•
EROAD’s total customer
base is weighted to small-
medium business owing to
the company’s origin in the
NZ RUC market
•
EROAD’s largest ~160
customers account for 51%
of revenue while our ~7,650
small customers represent
13% of revenue
•
Optimisingthe customer
mix and segmented service
levels to increase
profitability
~160
~1,700
~7,650
Enterprise
NZ$100k ARR
Mid-size
NZ$10k-100kARR
Small
NZ$0-10kARR
51% of revenue
36% of revenue
13% of revenue
CUSTOMER MIX
LONG CUSTOMER
TAIL
SHIFTING TO A SEGMENTED SERVICE MODEL TO MANAGE THE LONG TAIL WILL
REDUCE COST TO SERVE & INCREASE PROFITABILITY

14
Fleet size of 1,000 –11,000+
Average tenure of
approximately 5 years
CUSTOMER RELATIONSHIPS
NORTH AMERICA
NEW ZEALAND & AUSTRALIA
Fleet size of 500 -6,000+
Average tenure of
approximately 9 years
1
CUSTOMER MIX
KEY
ENTERPRISE
CUSTOMERS
RETENTION OF REFERENCEABLE BLUE-CHIP CUSTOMERS ENABLE A
TARGETED ENTERPRISE PIPELINE WITH HIGH CONFIDENCE
1
Excludes Fonterra who onboarded in FY23

•Challenge #1
OPPORTUNITY #2
R&D PAYBACK
15
R&D paybackcan improve
through faster speed to market
and prioritisedprojects

R&DPAYBACK
16
Optimiseadmin spend:
•Reducing complexity & maintenance post Coretex
acquisition
—EROAD 2.0 Platform introduced to realisesynergies
—Workstreams to unify platforms and improve user
experience
Remove process friction:
•Improvements to project delivery, team structure,
software delivery processes, and team communication &
autonomy
—Initiatives underway to increase Product &
Engineering productive time by 10-20% in FY24
Test budgets against renewed strategy:
•Re-align streamlined investment on new business
strategy
—Refocused projects for quicker return on investment
and current customer needs
—Director of Agile Delivery and Transformation
appointed
13-15%
Current
R&D reduction
(as % of revenue)
Future
c.24%
9-11%
TIME
•R&D spend is expected to reduce to approximately $30m
per year (from $38m in FY23) to fund platform
maintenance and product development
•R&D efficiency is expected to continue to increase as
revenue growth reduces R&D as a % of revenue
R&D RE-FOCUSING INITIATIVES R&D INVESTMENT (% OF REVENUE), NZ$M
SPEND WILL REDUCE AS A % OF REVENUE; PAYBACK WILL IMPROVE AS SYNERGIES
REALISED, PROCESS INEFFICIENCIES REMOVED, AND STRONGER PRIORITISATION

•Challenge #1
OPPORTUNITY #3
NORTH
AMERICAN
MARKET FIT
17
North American business
requires differentiated product
offering to deliver to large
enterprise market

SAFETY
Core telematicsTrack/trace, driver scorecardMust have
NavigationDynamic updates to routing (traffic, weather, etc.)Ability to differentiate
Temperature and
trailer monitoring
Reefer temp, trailer location, capacity utilisation
measurement, etc.
Ability to differentiate
REGULATORY
Driver communicationDispatch to Driver comm. (orders, tasks, etc)Must haveInvestment focus
Vehicle
documentation
DVIR, pre-trip inspection, other checklistsMust haveInvestment focus
ComplianceELD/ HOS reporting, IFTA / fuel cardsMust have
Video telematicsVideo-based fleet monitoring, job management, H&SAbility to differentiate
PRODUCTIVITY
Fleet efficiencyOptimisefleet efficiency, base maintenance workflows
Must have
Investment focus
Benchmarking &
perform. Mgmt
Fleet benchmarking relative to industry KPIs
developing insights & recommend improvements
Ability to differentiateInvestment focus
Dispatch and
scheduling
Matches drivers / truck to loads based on HOS,
availability, ensuring orders are serviced efficiently
Must haveInvestment focus
SUSTAINABILITY
Sustainability
EV fleet transition planning, fleet monitoring /
emissions tracking
Ability to differentiateInvestment focus
NORTH AMERICAN MARKET FIT
18
Feature setInclusions
Market: Must have /
Ability to differentiate
Current EROAD
solution
NORTH AMERICA PRODUCTS
WITH A STRONG DIFFERENTIATED SAFETY SOLUTION IN NA, R&D INVESTMENT WILL
FOCUS ON OUR SOLUTION GAPS REQUIRED BY ENTERPRISE CUSTOMERS

19
TransportationConstruction
Segments where EROAD
playsRefrigerate (F&B)
Less than truckload
(LTL)General freightConcrete
Description
For-hire reefer -solids and
liquids, private F&B
Private LTL and other
For-Hire
General Freight
Ready mix and bulk
concrete
Size of market (vehicles)
incl. trailers, ‘000
FMS SOM
1
(revenue), USDm
Number of large enterprise
customers in the market
Key competitors
~200~250
~850~1500
~25
~100~10
~400
~150~100~20~300
NORTH AMERICA OPPORTUNITY
NORTH AMERICAN MARKET FIT
DURABLE GROWTH IS ACHIEVABLE THROUGH TARGETING 3 TRANSPORTATION SEGMENTS
WITH LARGE SERVICEABLE OBTAINABLE MARKETS WHERE EROAD IS STRONGLY POSITIONED
*
Transportation figures rounded to the nearest 50
1
FMS SOM -Freight Management System Serviceable Obtainable Market

OEM HARDWARE ENVIRONMENT
20
Users of telematics are provided with two options to connect with Original Equipment Manufacturers (‘OEM’)
oOEM telematics (telematics shipped with the vehicles)
oIntegration with OEM data (third-party solution pulling data from the OEM telematics)
OEM Telematics
•OEM telematics tend to focus on the most basic use cases (dot on a map & servicing needs) primarily focused on the vehicle
only. EROAD’s target customer wants a whole-of-fleet picture integrating data across the driver, the load and the vehicle.
•Most fleets operate at least two OEM vehicle suppliers. A single OEM telematics solution likely won’t meet their needs and
single OEM solutions can’t provide a whole fleet view in a mixed fleet.
•The full lifespan of a truck in the US market is 15 years and so we will see non-integrated OEM Telematics vehicles for some time.
•OEM solutions do no provide sophisticated workflow solutions which enterprise customers need.
OEM Integration
•Our Ehubo2.2 and Corehubdevices are capable of OEM connection at various levelsand we have a team dedicated to this.
•We are connected directly with OEM data from FUSO Ecantersin the EECA trials in NZ, will be connecting with OEM data from
Volvo, Scania, & 1 other via the Ehubo2.2 for Fonterra NZ, and are looking at other OEM data with Sysco on their 800 new EV
trucks
•Ultimately there will be an open data standard and less need for hardware level connectivity but, as with interoperability in
other markets, this is potentially years away.
OEM INTEGRATION REMAINS A KEY FOCUS AND WILL BE INCORPORATED INTO OUR
SOLUTION WELL BEFORE OEM HARDWARE BECOMES A SIGNIFICANT THREAT

•Challenge #1
OPPORTUNITY #4
UNIT
ECONOMICS
21
Unit Economics improve as cost-
out initiatives are realisedand
customer growth occurs

22
ILLUSTRATIVE CUSTOMER LIFETIME VALUE
UNIT ECONOMICS
Customer
Acquisition
Cost
Customer
Acquisition
Point
Breakeven
(CAC payback)
Customer Lifetime
Profit
HARDWARE REPLACEMENT HAS BEEN A HEADWIND TO UNIT ECONOMICS,
TECHNOLOGICAL OBSOLESCENCE AND CUSTOMER CHURN INCREASE CAPITAL
OUTFLOWS AND REDUCE LIFETIME VALUE

UNIT ECONOMICS
23
1
Accounting for unit replacement after 5 years. Unit replacement assumption is based on historical customer behaviour.
NET CASH FLOW PROFILE OVER TIME, NZ$
Cash Flow, NZ$Year 1...Year 6Total
Total operating inflows811 6696694,154
Total operating outflows
1
(604)(114)(114)(1,173)
Gross operating profit207 5555552,981
Margin, % of operating inflows25%83%83%73%
Customer acquisition costs
(531)--(531)
R&D platform maintenance costs
(79)(79)(79)(474)
Service and corporate costs
(213)(213)(213)(1,279)
Free cash flow(616)263263697
Cash conversion, % of operating inflows(76)%39%39%17%
Illustrative example assumes a constant asset base and excludes R&D for growth
Per unit, Assuming 200k unitsUnits in k, costs in NZ$m
FIXED COST BREAK-EVEN AS A FUNCTION OF UNITS (FY22)
•
On a cash basis, initial year requires capital to initiate a new contract and is earned back over its term. Accounting treatmentspreads costs showing profit in early years.
•
A larger asset base spreads fixed costs over a larger number of units, increasing cash profitability
20406080100120140160
250
0
150
50
350
100
300
200
Break-even average connections
Actual average connections
FY22A fixed and upfront costs
After total pro-forma
cost-out of ~$20m
Units
Fixed and upfront costs incl. R&D, corporate overheads, hardware and costs to acquire
UNIT ECONOMICS IMPROVE AS EROAD ACHIEVES CUSTOMER GROWTH AND REALISES
COST-OUT INITIATIVES

UNIT ECONOMICS
•Vodafone New Zealand will turn off its 3G service in August 2024 on which ~35% of our total units across all markets
operate. This follows the successful roll-out of our 4G products in the North American market in 2021/2022.
•EROAD’s units are capable of operating on the 2G network in New Zealand.
•Customers with a leasing arrangement exchange units on a regular basis and therefore hardware replacement
and renewal is an ongoing cost to our business under a rental model. The result is a ~5 yearaverage use of a unit
before refurbishment.
•The 3G shutdown means EROAD is going to accelerate the swap out of older model products over a 2-3 year
period. Many of these units have been or will be exchanged organically through normal business operations.
Replacing our older generation devices in NZ with our latest 4G devices creates an opportunity for some customers
to access a broader range of products and secures EROAD’s future income
•Total future program cash flows of $25-$30m over 2-3 years, of which $5-$7m is costs of goods sold and program
operating costs. Current inventory contains about ~$6m of finished goods and componentry to facilitate
replacement hardware.
•Approximately $7-$9m of hardware cash flows would have been incurred through unit exchanges over the 2-3 year
period with the remainder representing bringing future renewal events forward.
24
ACCELERATED 3G REPLACEMENT PROGRAM
3G HARDWARE END-OF-LIFE IS DICTATED BY NETWORK SHUTDOWNS, RESULTING IN
UNIT REPLACEMENT BEING BROUGHT FORWARD AND SECURING NZCASH FLOWS

25
03
EROAD TOMORROW
MARK HEINE (CEO)
MARGARET DELANY (CFO)
AKINYEMI KOYI (PRESIDENT NORTH AMERICA &
CHIEF INNOVATION OFFICER)

REPOSITIONING TO GENERATE CASH & DRIVE GROWTH
26
TURN AROUND
THE CORE
Drive cash and efficiency
focus across the business
TODAY
Multiple solutions supporting
range of offerings, custom
builds for large fleets
Development of software &
hardware, with long time to
market (1yr+)
TOMORROW
Scalable platforms centred
around verticals supporting fast
customisation
More focus on software
development for scalability,
quicker time to market (<8
months)
•Tailoring of service levels to drive performance
•Streamline R&D functions and refocus spend
•Drive operating efficiencies to right-size cost base and
generate operating leverage
•Completed $10m in cost-out, another $10m targeted
GROW NORTH
AMERICA
Drive revenue growth from
enterprise customer whole-
of-fleet solutions
•Target transportation vertical, whole-of-fleet solution in
North America customers
•Complete scalable and competitive product offering for
enterprise
•Scale up North American-focused enterprise sales team
RIGHT-SIZING THE FOUNDATIONS TODAY ALLOWS EROAD TO SCALE EFFICIENTLY,
RESPOND TO MARKET DRIVERS QUICKER AND BE MORE AGILE TO CUSTOMER NEEDS

STRATEGY TIMEFRAME
27
Turnaround the core
Future Growth
Approach
Corporate overhead reductionEfficiency in ANZ / Growth in NAGrowth in NAVerticals
Timing
FY23FY24~3-5 years
Headcount reduction
Overhead expense reduction
Value focus
Customer service segmentation
Accelerated replacement program
execution
Product stabilisationand
simplification
Rollout Sysco and retain North
American enterprise customers
Ongoing cost-out
Growth in large enterprise customer
base
Capitaliseon sales and product
improvements made
Rationalisationof cost base
Economies of scale on development,
other functions
Annualised
savings
$10m completed$10m targeted
OPTIMISING BUSINESS OPERATIONS UNDERWAY, AFTER WHICH RESOURCES
CAN BE DEPLOYED TO ACHIEVE SCALEABLE GROWTH

REVENUE BRIDGE
•Focus on Enterprise customers
•Volume expansion to be driven by enterprise
sales model.
•Refocus go-to-market activities
•Targeted sales team and in-market
engineering expansion
•Focus on transportation vertical
•Targeted sub-segments include refrigerated,
less than truckload (LTL), and general freight.
28
LONG TERM GROWTH DRIVERS –
NORTH AMERICA
•Protect position
•Maintain market position and service levels,
with a focus on growing alongside existing
customers.
LONG TERM GROWTH DRIVERS –
NEW ZEALAND
TOPLINE GROWTH BRIDGE
Revenue, NZ$m
North America
Australia /
New Zealand
Pilot
projects
and new
customer
pipeline in
progress
Expected
growth within
current
customer base
Expected to be
consistent with
FY22
Expected to be
in-line with
FY22
Current new
customer
project rollouts
underway
Expected to be
in-line with
FY22
FY23FNew
pipeline
Customer
expansion
Existing
backlog
ChurnRun-rate
additions
ChurnFY24F
REVENUE GROWTH ACHIEVED THROUGH CUSTOMERS’ SCALING UP AND
INCREASED MULTI-PRODUCT ADOPTION

COST-OUT PROGRAM
29
•Product simplification
•Consolidate product suite and eliminate
duplication
•Corporate efficiency
•Streamlining processes and systems
•Focus on return on investment
•Supplier renegotiation
•Merger has created opportunities to
negotiate joint contracts
•Contract manufacturing cost reductions
•Expense rationalisation
•Discretionary travel, computer subs, and
other expenses
Targeted $10m cost-out
•Right-sized personnel
•Approximately 75 FTE removed
•Reduced sub-contractor spend
•40% reduction in run-rate spend
•Property footprint reduction
•Closed Portland, OR office and
consolidated Albany, NZ site
•Optimisedmobile data usage
•Negotiated alternative cellular pricing
for our camera product
•Negotiated data plan more in-line with
our merged consumption pattern
•De-prioritisedbusiness systems investment
•Removed low-priority business systems
Completed $10m cost-out
ALREADY HALFWAY THROUGH COST-OUT PROGRAM,
WITH TARGETED PLANS FOR THE REMAINING $10M

FREE CASH FLOW BRIDGE
30
MANAGEMENT IS FOCUSED ON BEING FCF NEUTRAL BY FY25 AND FCF POSITIVE BY
FY26 WITHIN EXISTING CREDIT FACILITY LIMITS
Description
FY24-FY26 FCF
impact
Cost out initiatives
Targeted additional cost out initiatives
(Focused R&D spend, in-market and
corporate cost savings)
Annualised$20m
Hardware Inventory
levels
Tighter inventory management -surplus
inventory reduced as new units are installed
~$15m
Hardware capex
Hardware spend in addition to reducing
inventory
~$(40m)
3G replacement
Rollout of accelerated 3G replacement (of
which $7-9m is BAU hardware replacement)
~$(25-30m)
In addition to operating earnings growing in line with market and
cost inflation, a number ofinitiatives are expected to drive free
cash flow
FORECAST FREE CASH FLOW TO FIRM BRIDGE, NZ$M
•
In-market cash EBITDA
—
Revenue-North America forecast to grow at market levels with growth in existing
customers, New Zealand to continue at current trajectory
—
Opex–Forecast growth due to accelerated 3G replacement program and wage inflation.
Right sizing North America sales for enterprise pipeline and customer support for Sysco
•
R&D and corporate –Forecast impact of FY23 cost-out program along with ongoing cost
savings
•
Hardware–Forecast rollout of accelerated 3G replacement program units and tighter
inventory levels as global supply chain issues ease
R&D and
corporate
costs
In-market
cash EBITDA
Hardware investment
/ 3G accelerated
replacement
FCF FY24F
FCF FY23F
1
1.
Excluding NZ$8.5m one-off payment related to Coretexacquisition

31
KEY METRICS
Goal MetricFY20FY21FY22FY26Commentary
SaaS
Quality
AMRR*
84.088.4134.6
11% -13%
CAGR
Growth in-line
with market
Churn
5%5%7%5% -7%
In-line with
historical trends
Average Lease
Duration Remaining
1.61.61.41.5 –2.0
Increased
weighting to
longer dated
enterprise
contracts
InvestmentR&D as % of revenue
19%23%28%13% -15%
Flat with a focus
on ROI
Return
Free Cash Flow
Margin
-12%9%-39%9%+
Cash efficiency
and growth in NA
TARGETS
* Annualisedmonthly recurring revenue
FOCUSED STRATEGY PROVIDES CONFIDENCE IN OUR OUTLOOK

•Challenge #1
POSITIONED FOR
MARKET GROWTH
32
The strategic shift to operate at
scale positions EROAD well to
translate momentum into
durable growth for the long-term

33
KEY TRENDSEROAD FOCUS
Demand for advanced workflow-based
solutions
1
OEM offering built-in telematics
2
Tighter integration across supply chain
3
Commoditisationof base offering stack
4
Fleet consolidation
5
Transition to EV fleets
6
Focus on sustainability and ESG
(excl. electrification)
7
Future regulatory requirements
8
KEY MARKET DRIVERS
TELEMATICS INDUSTRY
TRENDS
BROADER TRANSPORT
INDUSTRY TRENDS
WHOLE-OF-FLEET
As base telematics are further commoditisedand fleets
consolidated, EROAD will compete with whole-of-fleet
solutions (including APIs, aggregation and enrichment)
SUSTAINABILITY FOCUS
Regulatory landscapes across all markets changing,
impacting both reporting requirements and tax impacts.
Provides tailwind for telematics fleet management.
IOT PLATFORM / DATA AGGREGATOR
Need for cohesive and standardisedintegration across
multiple data sources
Demand for bespoke/custom workflow solutions
EROAD’S CURRENT STRATEGY ALIGNS US WITH SIGNIFICANT MOMENTUM TO
CAPITALISE ON TAILWINDS AND AVOID POTENTIAL NEGATIVE TRENDS

PLATFORM
DEMONSTRATION

35
04
SUMMARY AND Q&A

---

Market Release 20 March 2023
Investor Day Presentation
Transportation technology services company EROAD Limited (NZX/ASX: ERD), with its purpose of safer
and more sustainable roads, today provides a copy of the Investor Day Presentation ahead of the
Investor Day on 21 March 2023.
EROAD is undertaking a strategic review to identify partners to assist the Company in accelerating its
North American strategy.
The review will aim to identify partnership options to contribute capital, expertise and additional
market access for EROAD to gain further growth in the North American market.
The Board has appointed Goldman Sachs as financial adviser to assist in the review.
There is n o certainty that the review will le ad to any particular outcome or transaction. EROAD will
upd ate the market on the status of the review at its FY23 financial results.
Details of Investor Day
As a reminder, the Investor Day details are as follows:
Date: Tuesday 21
st
March 2023, 1pm – 3pm AEDT
Venue: Allens
Level 28, Deutsche Bank Place
126 Phillip Street (Corner Hunter & Phillip Streets)
Sydney NSW 2000
AUSTRALIA
Investors can attend either in person, or virtually. To RSVP for the event, please use the
following link:
https://kapara.rdbk.com.au/landers/99ad9a.html

ENDS
Authorised for release to the NZX and ASX by Margaret Warrington, Chief Financial Officer.
For Media enquiries please contact:
Hugo Shanahan
Hugo@shanahan.nz
Investor enquires please contact:
Matt Gregorowski
Citadel-MAGNUS
+61 422 534 755
mgregorowski@citadelmagnus.com