ASX Small and Mid-Cap Conference Presentation

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EROAD
ASX Small & Mid Cap Conference
September 25, 2024
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Important Information
The information in this presentation is of a general nature and does not
constitute financial product advice, investment advice or any
recommendation. Nothing in this presentation constitutes legal,
financial, tax or other advice.
This presentation may contain projections or forward-looking statements
regarding a variety of items. Such projections or forward-looking
statements are based on current expectations, estimates and
assumptions and are subject to a number of risks, uncertainties and
assumptions.
All numbers relate to the 12 months ended 31 March 2024 (FY24) and
comparisons relate to the 12 months ended 31 March 2023 (FY23), unless
otherwise stated. All dollar amounts are in NZD, unless otherwise stated.
There is no assurance that results contemplated in any projections or
forward-looking statements in this presentation will be realised. Actual
results may differ materially from those projected in this presentation. No
person is under any obligation to update this presentation at any time
after its release to you or to provide you with further information about
EROAD.
While reasonable care has been taken in compiling this presentation,
EROAD or its subsidiaries, directors, employees, agents or advisers (to the
maximum extent permitted by law) do not give any warranty or
representation (express or implied) as to the accuracy, completeness or
reliability of the information contained in it or take any responsibility for
it. The information in this presentation has not been and will not be
independently verified or audited.
Non-GAAP Measures
EROAD has presented certain non-GAAP financial measures as part of
this presentation, which EROAD’s directors and management believe
provide useful information as they exclude any impacts of one-offs which
can make it difficult to compare and assess EROAD’s performance. Non-
GAAP financial measures are not prepared in accordance with NZ IFRS
(New Zealand International Financial Reporting Standards) and are not
uniformly defined, therefore the non-GAAP financial measures reported
in this presentation may not be comparable with those that other
companies report and should not be viewed in isolation or considered as
a substitute for measures reported by EROAD in accordance with NZ
IFRS. Non-GAAP financial measures are not subject to audit or review.
The non-GAAP financial measures EROAD has used in this presentation
are identified and defined in the Glossary on page 22 of this presentation.
A detailed reconciliation of non-GAAP measures to EROAD’s reported
financial information is included on EROAD’s website
http://www.eroadglobal.com/global/investors/

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QUALITY FOODSTRONG FOUNDATIONSCONNECTIVITYSUSTAINABLE FUTURES
Trusted by the companies who keep society moving
Delivering intelligence you can trust for a better world tomorrow
OUR PURPOSE:

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Platform
Evolution
FULL FLEET OPERATIONS
Full stack complex fleet
operations platform
VERTICAL EXPANSION
Specialised solution for Cold-Chain &
Construction Industries
SOLUTION EVOLUTION:
Enterprise solution for transport
Dashcam development
GEOGRAPHIC EXPANSION
Weight Mile Tax – Oregon
ELD development
ROAD USER CHARGES
World-first nation-wide road tolling
solution
Fleet
Operations
Platform for
Enterprise
Telematics
for Fleet
Managers
2009
2014
2020
2021
2024
NZX Listing + Expanded to US
The Beginning
Dual Listing ASX
Coretex Acquisition

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REVENUE
NZ$182m
CONNECTED UNITS
250k+
ASSET RETENTION
94.8%
CUSTOMERS
10,400+
FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019FY 2018FY 2017FY 2016FY 2015
Solid Growth
Ten years of trading on the NZX
ARR
+15.7%
FY23-FY24
10 YEAR ARR CAGR
31.5%
$60m
$80m
$100m
$120m
$160m
$180m
$200m
$140m
$40m
$20m
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ASX Dual
Listing

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Regional Highlights
REVENUE
NZ$91.8m
SAAS ARPU
NZ$58.30
REVENUE
NZ$79.6m
SAAS ARPU
NZ$60.92
REVENUE
NZ$10.6m
SAAS ARPU
NZ$45.44
New ZealandNorth AmericaAustralia
UNITS
124,417
+ 7,692 on FY23
UNITS
106,860
+ 11,802 on FY23
UNITS
19,613
+ 3,977 on FY23

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Using data to
solve customer
problems
What’s the best route for
traffic and conditions?
Which drivers need more
coaching and support?
When is the best time to schedule
maintenance?
How can I reduce risks on
the road across the fleet?
Is this the right cement
mix for the job?

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COMPLIANCE &
ASSURANCE
•Road user charges
•Fuel tax
•Cold-chain assurance
•Construction assurance
PRODUCTIVITY
•Trip routing
•Driver allocation
•Asset utilisation
•Job allocation
SUSTAINABILITY
•EV support
•Carbon emissions
•Fuel reduction
•Fleet benchmarking
EROAD PLATFORM
VIDEOFORMSDRIVER APPSTRACKINGWORKFLOWSROUTING
AI AND MACHINE LEARNING
Data rich fleet operations platform
INTEGRATIONS
THIRD PARTY
DATA
OEM
PARTNERS
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•Driver coaching
•Vehicle health
•Incident prevention
•Speed reduction
HEALTH & SAFETY
DATA COLLECTED

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More than fleet management
We offer specialised solutions for niche industry verticals
Capturing a larger market by enhancing our
core product suite with specialised solutions
for industry verticals. Building on a strong
foundation to deliver both day-to-day fleet
management and complex operations in one.
Cold Chain
Construction
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Construction
Plant
Site
Improving workflows and wait times with AI
“Hey EROAD, can
you help me?”
EROAD AI Assistant
•Estimate wait times
•Avoid overcrowding
•Increase job completion
•Improve asset utilisation
1-2
Additional
pours per day
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US$162b
US Annual food waste before
reaching consumers
Impact of food waste
Refrigerated Transport
üRoute management
üVehicle maintenance
üPredictive shutdown
üTemperature Control
Reducing food waste through monitoring, prediction, and temperature control
58%
58% of trailers with reefer
related breakdowns
emitted “red alerts” prior
Most reefer road calls can be
predicted by prior alerts
31%
31% of trailers that emitted a
“failed to crank alert” caused a
road call within 2 weeks
Units with alerts eventually
break down
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6%
Global Greenhouse
Gas Emissions
15%
Food Waste Emissions
occur in supply chain

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Alerting inclusions
•Tailgating
•Collision warning
•Proximity alert
•Stop sign violation
•Distraction
•Yawning
•Mobile phone
•Smoking
•Seatbelt removed
A proactive view of road safety
Enhancing our camera offering with advanced video AI technology
Continuous analysis
Road and optional
driver facing view
Voice alerts
Triggered by safety violations or poor
driver behaviour for corrective action
EROAD replay
AI insights are available for
coaching and recognition
New hardware suite
Includes optional
advanced fatigue camera
Intelligent interventions for
incident prevention.
Safer drivers, safer roads.
1 In customer trials, 99.3% of driver behaviour events detected by Clarity Edge would have never been detected by standard dashcams or telematics
99.3%
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Of driver behaviour events
captured by Clarity Edge would
go undetected without AI
AI Detection

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Growing in Australia
FY25 starting strong
Per the terms of the contract the customer cannot be named
Land mass and fleet complexity of the US, with many shared logos across ANZ
Same logo, new market.
RENEWAL
6,000
Connected units
New Zealand
NEW WIN
5,000
Connected units
Australia
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-45.1
-29.9
1.3
FY22FY23FY24
NZ$165.3m
NZ$182.0m
Normalised
Revenue Growth
Free Cash Flow
Exceeded FY24 Guidance
FY22FY24
MILESTONE
NZ$1.3m
FCF (to the firm)
Connection Growth
FY22FY23FY24
208,697
227,149
250,890
+23,741
+18,452
FY23
NZ$114.9m
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1
includes 4 month contribution from Coretex acquisition

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Improving Profitability
Operating costs as a % of
revenue
1
Operating costs as a % of revenue continues to decline
reflecting the cost out program over FY23 and FY24 and
operating leverage from unit growth
87%
82%
75%
71%
70%
H2 F Y22H1 F Y23H2 F Y23H1 F Y24H2 F Y24
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Revenue normalised for $9.6m in FY23 relating to accounting adjustment for contingent consideration
Unit economics NZ$
Cash Flow NZ$Year 1-Year 6Total
Total operating inflows7957107104,347
Total operating outflows
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(681)(146)(146)(1,409)
Gross operating profit1155655652,938
Margin, % of operating inflows
14%80%80%68%
Customer acquisition costs
(535)--(535)
R&D platform maintenance costs(75)(75)(75)(447)
Service and corporate costs
(223)(223)(223)(1,340)
Free cash flow(719)267267615
Cash conversion, % of operating inflows(90)%38%38%14%
Per unit, assuming ~250k units
Illustrative example assumes a constant asset base and
excludes R&D for growth
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Accounting for unit replacement after 5 years. Unit replacement assumption is based on
historical customer behavior.

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Implementation of refreshed strategy provides pathway to sustainable, profitable growth
Focused execution delivering strong results against refreshed strategy
Key Metrics Trend
GoalMetricFY22FY23FY24StrategyFY26 Targets
SaaS
Quality
ARR$134.6m$153.7m$177.8m
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Grow customer base in-line with
estimated market growth
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11% - 13% CAGR
Churn
7%5%5%Maintain historical churn rate
5% - 7%
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Average Lease Duration
Remaining (years)
1.41.31.4
Rebalance toward longer-dated
enterprise contracts
1.5 – 2.0
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InvestmentR&D as % of revenue
28%23%18%Focus on projects with near-term ROI
13% - 15%
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ReturnFree Cash Flow
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Margin-39%-18%1%Improve cash efficiency and drive NA growth9%+
7,8
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Annualised recurring revenue includes positive FX impact of $4.0m in FY24
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Targeted growth in-line with blended market growth in North America and ANZ.; ANZ fleet management unit market is estimated to grow at a 16% CAGR (2019-2024); North America private fleet telematics market is expected to grow by 11%
per year until 2030 (Sources: ACT Research, I.H.S., Berg, Expert interviews).
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In-line with historical churn rates (based on FY20-22A range).
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Assumes that average lease duration remaining (years) increases with weighting to longer dated enterprise contracts.
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Decrease in R&D as % of revenue is driven by streamlining of activities towards projects with near-term ROI.
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A non-GAAP measure representing operating cash flow and investing cash flow reported in the Statement of Cash Flows (excluding net interest paid).
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Driven by additional cash efficiencies and growth in North America. Includes effects from roll-off of the switch program, leverage (holding fixed costs as we grow) and the anticipated $20m cost-out.
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Normalised for 4G hardware upgrade costs

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Our Market Opportunity
Significant growth potential within a large and growing market
NZ$13 Billion
12.5% CAGR since Nov 2021
NZ$10b
NZ$2.2b
NZ$0.5b
REVENUE
NZ$91.8m
New Zealand
Australia
REVENUE
NZ$10.6m
North America
REVENUE
NZ$79.6m
Estimated Market Size

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Light Vehicle
eRUC
86%
Heavy Vehicle
eRUC
85%
Collected in FY24
NZ$806m
All RUC
40%
900k
Diesel
RUC
~100k
EV RUC
3.6m
Fuel
Excise
EV Growth:
•2% of light passenger market
•20% of light passenger vehicle
registrations (Dec 23)
•78% YoY increase
•EROAD Installed in almost every EV Bus
Changes to Tax Regime for NZ Transport
We collect roughly 40% of all RUC for the government – the pool is expanding
EROAD RUC Today
Opportunity:
Draft Government Policy Statement on
land transport considering a transition
of all vehicles to RUC from 2027
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Still celebrating 10 years on!
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Q&A
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ASX & NZX: ERD
investors@eroad.com | eroadglobal.com/investors
EROAD acknowledges the Tangata Whenua of New Zealand, the
Indigenous Nations and First Peoples of Australia, and the Custodians of the
lands and waterways in the United States of America where our offices are
located. We express our gratitude and appreciation to these peoples for
sharing their culture and traditions and for their stewardship of these lands.
We recognise and pay respect to their Elders, past, present, and emerging.
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Glossary
ANNUALISED RECURRING REVENUE (ARR)
A non-GAAP measure representing monthly
Recurring Revenue for the last month of the
period, multiplied by 12. It provides a 12 month
forward view of revenue, assuming unit numbers,
pricing and foreign exchange remain unchanged
during the year.
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.
COSTS TO SERVICE & SUPPORT (CTS)
A non-GAAP measure of costs to support and
service customers. Total CTS represents all customer
success and product support costs. These costs are
included in Administrative and other Operating
Expenses.
ELECTRONIC LOGGING DEVICE (ELD)
An electronic solution that synchronises with a
vehicle engine to automatically record driving time
and hours of service records
ENTERPRISE
A customer where the ARR is more than $100k in
NZD for the Financial year reported
FREE CASH FLOW (FCF)
A non-GAAP measure representing operating cash
flow and investing cash flow reported in the
Statement of Cash Flows.
FREE CASH FLOW TO THE FIRM
A non-GAAP measure representing operating cash
flow and investing cash flow net of interest paid and
received.
FY (FINANCIAL YEAR)
Financial year ended 31 March.
MONTHLY SAAS AVERAGE REVENUE PER UNIT
(ARPU)
A non-GAAP measure that is calculated by dividing
the total SaaSrevenue for theyear(asreported in
Note 2 of the FY24 Financial Statements) minus the
contract liability discounting gain (as reported in the
FY24 Reconciliation of Operating Cash Flows)by the
TCU balance at the end of each month during the
year.
NORMALISED EBIT
Excludes one-off 4G hardware upgrade
programcosts ($3.6m). FY23normalisations
include acquisition accounting revenue
($9.6m), and integration costs ($3.4m).
NORMALISED EBIT MARGIN
Excludesone-offitems, consistent with the
definition provided for Normalised EBIT
NORMALISED REVENUE
Excludes the one-off acquisition accounting revenue
in FY23 ($9.6m).
ROAD USER CHARGES (RUC)
In New Zealand, RUC is applicable to Heavy Vehicles
and all vehicles powered by a fuel not taxed at source.
The charges are paid into a fund called the National
Land Transport Fund, which is controlled by NZTA,
and go towards the cost of repairing the roads.
SAAS
Software as a Service, a method of software delivery
in which software is accessed online via a
subscription rather than bought and installed on
individual computers.
SAAS REVENUE
Software as a service (SaaS) revenue
represents revenue earned from customer
contracts for the sale or rental of hardware,
installation services and provision of software
services.
TOTAL CONTRACTED UNITS
Represents EROAD and Coretex branded units
subject to a customer contract both on Depot and
pending instalment and Coretex branded units
currently billed.
UNIT
A communication device fitted in-cab or on a
trailer. Where there is more than one unit fitted
in-cab or on a trailer, it is counted as one unit
(excluding Philips Connect).