NZX Tech Investor Day Presentation

NZX Tech Investor Day
Vista Group Overview
8 October2026

Vista Group Promotional Video
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Important notice
This presentation has been prepared by Vista Group International Limited and its related companies(collectively referred to
as Vista Group).This notice applies to this presentation and the verbal or written comments of any persons presenting it.
•is provided for general information purposes only, does not purport to becomplete
or comprehensive, and is not an offer or invitation or subscriptionor purchase of, or
solicitation of an offer to buy or subscribe for, financialproducts in Vista Group;
•does not constitute a recommendation or investment or any other typeof advice
and may not be relied upon in connection with any purchaseor sale of financial
products in Vista Group.The presentation is not intended as investment, legal, tax,
financial advice or recommendation to any person.Independent professional
advice should be obtained prior to making any investment or financial decisions;
•should be read in conjunction with, and is subject to, Vista Group’sfinancial
statements, market releases and information available on Vista Group’s website
(vistagroup.co.nz) and on NZX Limited’s website (nzx.com) under ticker code VGL;
•may contain forward-looking statements about Vista Group and the environments
in which it operates.Forward-looking statements can include words such as
“expect”, “intend”, “believe”, “continue” or similar words in connection with
discussions of future operating or financial performance or conditions.Such
forward-looking statements are based on significant assumptions andsubjective
judgements which are inherently subject to risks, uncertaintiesand contingencies
outside of Vista Group’s control;
•although VistaGroup’smanagement may indicate and believe theassumptions
underlying the forward-looking statements are reasonable,any assumptions could
prove inaccurate or incorrect and, therefore, therecan be no assurance that the
results contemplated in the statements will be realised. Vista Group’s actual
results or performance may differ materially from any such forward looking
statements; and
•may include statements relating tothepast performanceofVista Group, whichare
not, andshould not be regarded as,a reliable indicatoroffuture performance.
While all reasonable care has been taken in compiling this presentation, Vista Group,
and their respective directors, employees,agents and advisers accept no
responsibility for any errorsor omissions. Neither Vista Group or any of its respective
directors, employees, agents or advisers makes any representation or warranty,
express orimplied, as to the accuracy or completeness of the information in this
presentation or as to the existence, substance or materiality of any information
omitted from this presentation.No person is under any obligation to update this
presentation at any time after its release.
Unless otherwise stated, all information in this presentation is expressed at the
date of this presentation and all currency amounts are in NZ dollars.
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Information in this presentation:

Film studio & distributor
Movie marketing
Film booking & sales
Reporting & analytics
Invoicing & settlement
Content management
Release date planning
Cinema – head office
Reporting & analytics
Film scheduling
Marketing
Digital movie media
Circuit management
Cinema – F+B
Kitchen operations
Bar & restaurant
Stock management
Cinema – back office
Cinema management
Corporate bookings
Cinema – front of house
Point of sale
Ticket + F&B kiosk
Queue busting &
remote sales
Ticket validation
Digital signage
Cinema – theatre
Scan-to-order
In-seat dining service
Moviegoer
Websites & apps
Loyalty & subscriptions
Personalised
communication
Guest services
Cinema & streaming guide
Vista Group is the global leader in providing the mission-critical commerce and
operations infrastructure for the cinema and film industry
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Key Points
80+
Countries
~48%
Contracted Enterprise
Market Share
Our global Vista Cloud clients include:
Our solutions are contracted to power ~48% of the global enterprise cinema market
Contracted Enterprise Market Share – Management’s estimate of the Cinema segment percentage of the world market for Cinema Exhibition Companies with 20+ screens, excluding Russia, India and China.
Expected Transactional Volume – The estimated annual value of ticketing, food & beverage and related transactions processed through Vista Cloud and Veezi by the end of 2030.
US$20b
Expected transactional
volume by end of 2030
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Our tech powers 95% of ANZ enterprise cinemas, and our kiwi clients include ...
Enterprise Client – Cinema Exhibition Companies with 20+ screens.
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Every time you go to the movies, you're probably interacting with Vista technology
From ticketing and seat selection to food & beverage and loyalty programmes, Vista powers the end-to-end cinema experience
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Vista Group’s growth is driven by its cloud-based platform offerings
-13%
7%
8%
9%
14%
17%
19%
-15%
-5%
5%
15%
25%
35%
-20
0
20
40
60
80
100
120
140
160
180
200
2020202120222023202420252026
guidance
mid-point
EBITDARevenueEBITDA Margin
Operational Priorities
SaaS Platform
Transformation
—
Transitioning our existing on-premise
enterprise clients to the Vista Cloud
Platform
Operational
Efficiency
—
Expand EBITDA margins
Build Free Cash Flow
+13%
Revenue
CAGR
Platform Aspirations
2026 Guidance*
—
Revenue: $179m-$184m
EBITDA margin: 18%-20%
Revenue and EBITDA (NZ$m)
2030 Exit Rate
—
ARR: $315m+
EBITDA margin: 33%-37%
* 2026 ASSUMPTIONS:
Domestic box office: US$9.75b
USD currency: US$0.59 (~$2.0m headwind to US$0.58 in FY25)
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Our AI-powered intelligence layer transforms moviegoer, operational and market
data into actionable insights for cinema teams across Vista Cloud
•
Driving revenue growth
Understand audiences, uncover revenue opportunities, and
deliver more relevant, personalised engagement
•
Improve efficiency
Forecast demand, optimise schedules and simplify operational
decision-making
•
Enhance experiences
Leverage intelligence from across the cinema ecosystem to
better understand and serve moviegoers
•
Strengthen the platform
AI embedded across Vista workflows, data and applications
makes our platform more connected, intelligent and valuable

Client demand is accelerating cloud adoption
More than a quarter of contracted enterprise sites are expected to be fully
cloud-enabled by the end of FY26
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Domestic Box Office growth is being
driven by 12% year on year admission
increase
1H26 Domestic Box Office grew
15%, and closing to within 17%
of pre-COVID levels
10
44
358
724
1,300
77
325
833
700
0%
5%
10%
15%
20%
25%
30%
35%
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
Dec 23Dec 24Dec 25Dec 26
Aspiration
Number of client Sites
+366 sites
added to OE
+314 sites
added to OE
Operational
Excellence
Operational
Excellence
Vista Cloud
Digital
Enablement
Moviegoer
Engagement
Moviegoer
Engagement
Digital Solutions
~26% of contracted
client sites on
Operational Excellence
~41% of contracted
client sites on the
Vista Cloud Platform
+576 sites
added to OE
+57%

Contracted backlog provides strong forward visibility
With 37% of client sites contracted to Operational Excellence, our full cloud offering,
implementation schedules now extend into FY27 and FY28
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Investment has returned to the
film industry
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Enterprise Sites
Vista
Classic
Digital
Solutions
Operational
ExcellenceTotal
Sites live at 31 December 20252,9288337244,485
Cloud migration / change in sites(89)6326-
Sites live at 30 June 20262,8398967504,485
% of total sites live63%20%17%
Contracted sites at 31 December 20252,5987921,2364,626
Net change during 1H26146(425)572293
Contracted sites at 30 June 20262,7443671,8084,919
% of total contracted sites56%7%37%
Contracted Enterprise Market Share – Management’s estimate of the Cinema segment percentage of the world market for Cinema Exhibition Companies with 20+
screens, excluding Russia, India and China.

Vista Payments is a new growth lever launched in late 2025
With the potential to exceed our base case assumptions through an estimated $2m ARR contracted by 30 June 2026
Payment offerings
launched
Now available and
transacting for Vista and
Veezi clients
Meaningful financial
outcomes
Estimated contracted ARR at
30 June 2026 exceeds $2m
2030 Exit Rate ARR aspiration of
$15m is expected to be ~3%
EBITDA margin accretive
Strong progress
to 30 June 2026
11 clients already live
and transacting
Value added client
outcomes
Delivers a single vendor
relationship, automated
payment reconciliation,
guaranteed day settlement
and competitive buy rates
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ARR – Annualised Recurring Revenue, which is a non-GAAP measure calculated as trailing 3-month Recurring Revenue multiplied by four.

We have a clear roadmap of identified expansion opportunities
Ecosystem and adjacent expansion opportunities
FY25 ARR $163m
2030 Exit Rate Aspiration
ARR $315m
Platform Breadth
Time
Identified adjacencies:
•Family Entertainment Centres
•Film Distribution
*Indicative scale
Growth opportunities:
•Increased market share
•Data innovation
•New product development (power up modules)
•Enhanced payments / financial products
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2030 exit rate aspirations
Over five years we expect to approximately double ARR and EBITDA Margin, and quadruple Underlying FCF
163.0
315.0
20252030
Exit Rate Aspiration
NZ$m
ARR
18.8
75.0
20252030
Exit Rate Aspiration
NZ$m
Underlying FCF
+299%
17.2%
35.0%
20252030
Exit Rate Aspiration
% of revenue
EBITDA Margin
+103%
+93%
Underlying FCF – Free Cash Flows normalised for incremental costs incurred to onboard clients to Vista Cloud, and for escalated capitalised development costs
(long-term BAU levels assumed to be $8.0m per annum). These normalised incremental cash costs are not expected to be incurred at full platform adoption.