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18 November 2021

The Manager

Market Announcements Office

Australia Securities Exchange

20 Bridge Street

SYDNEY NSW 2000

Electronic Lodgement

Attached for release to the market are:

  • the Chairman's address;
  • the Managing Director and Chief Executive Officer's address; and
  • the Managing Director and Chief Executive Officer's Presentation.

Authorised for lodgement by:

Adrian Lucchese

Company Secretary

Investor Relations investorrelations@a2baustralia.com 0403 372 612

A2B Australia Limited

9-13 O'Riordan Street, Alexandria NSW 2015

ABN 99 001 958 390

Locked Bag 8000, Strawberry Hills NSW 2012

+61 2 9332 9222

For personal use only

Chairman's Address

Annual General Meeting

Thursday 18 November 2021

Good morning ladies and gentlemen, my name is Paul Oneile, and as A2B's Chairman, it is my pleasure to welcome you to the 2021 Annual General Meeting of A2B Australia Limited.

As we gather for this virtual meeting, I'd like to start by taking a moment to recognise the various traditional lands on which we do our business today, as well as acknowledge Elders - past, present and emerging. From my location today, I respectfully acknowledge the Gadigal people of the Eora Nation.

Today is A2B's second virtual AGM and I thank you for your understanding as we all continue to navigate this new digital forum.

The 12 months to 30 June, 2021 were an incredibly challenging period for our business with ongoing government mandated restrictions on public mobility and stay-at-home orders. These pandemic-related restrictions fundamentally halted the core of our business - the movement of people and things. There are few other businesses where these restrictions have had the same degree of impact as they have for A2B.

Despite these challenges the business did not press the pause button. Supported by our strong balance sheet and decisive cost-saving initiatives, we maintained our net cash position and continued to invest in our business to drive future growth and value creation opportunities for our shareholders.

With regards to FY21 financial performance, we achieved Group revenue of $113 million, down 34% on FY20 due to the impact of COVID restrictions. Underlying EBITDA was a loss of $3.7 million, with $32.7 million in costs removed from the business and $17.6 million in state and federal government support.

The A2B board took the difficult decision not to declare a dividend at the full year. We do understand that dividends are important to our shareholders, however given the environment and our prioritisation of investment in future growth strategies, we believed it to be a responsible decision.

Post these results, I would like to say that we are encouraged by the rate of double vaccinations, particularly in NSW and Victoria. We are beginning to see a pick-up in our pre‐pandemic momentum and there are clear signs of economic recovery. We are very

tightly bound to the re-opening of the economy, and remain confident in our significant near-term growth prospects as we expect mobility activity to closely track the current vaccination-backedre-opening.

In terms of outlook, we are optimistic about the prospects of the business and are already seeing positive indications of a rebound upon the reopening and lifting of government restrictions. Andrew will provide more detail of these trading updates in his address.

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We are committed, and have continued, to reshape and modernise your business in line with the strategy presented by your Management team at our Investor Day on 28 September. We felt it important to share with you the path we are on and what we expect this will mean for you as shareholders.

As a Board, we continue to be aware that there a range of perceptions about this company - many of which we believe no longer reflect the progress made in the business and others which we are seeking to address.

We also acknowledge that our currently smaller market cap and relatively low liquidity has not helped in improving a truer understanding of A2B or in generating greater interest. The Investor Day was one step among others aimed to change that.

We are embarking on a dedicated effort to drive transparency and engagement in the performance of our business, its operational achievements and to drive returns for our shareholders based on the stated goals we have set for ourselves. As we have said previously - these goals are a whole of company approach including the operating business, our assets and our people.

There are elements of the company's strategic plan that will drive near term cash flow, profitable growth and a return to an attractive dividend program following an initial period of strategic implementation. There are also other elements of the plan that we believe will create longer term value creation opportunities. We believe this is a pragmatic combination and we are committed to prudently balancing these objectives in the best interests of shareholders.

Central to the new strategy are the following pillars:

  • Recovery and growth of our core mobility services offering supported by a vaccination-backedre-opening and expansion of adjacent services such as deliveries;
  • International expansion through our best‐in‐class mobility platform offering;
  • Leveraging our payment capabilities beyond the mobility services sector;
  • Strengthening margins by increasing scale and digitisation of services; and
  • Continued investment in our technology capabilities and brands.

In closing the review of the business, we remain excited about the future of A2B. We look forward to updating you on the developments of our plan.

When this strategy is fully delivered, A2B will look like a different company. We will have diversified our revenue streams, expanded our addressable markets and built a business that is digitised and at the forefront of mobility and payments innovation.

Before handing over to Andrew, I would now like to make some comments on two important areas - remuneration and governance.

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With regards to the remuneration report and strategy. This is a key area of the Board's responsibility. We have listened to our shareholders and thoroughly reviewed the equity arrangements for the Executives, with the purpose of tightly aligning the remuneration mix with key components and deliverables of the new strategy, that will drive the desired organisational transformation. The outcome of our review was to include a deferred equity component to the current STI program while holding the overall at-risk remuneration of Executives steady.

Corporate Governance is another key Board responsibility. During the year, in keeping with the Board's commitment to maintaining the high standard of our corporate governance framework and processes, the Board and Committee Charters were reviewed and updated to reflect the latest recommendations from the ASX Corporate Governance Council. The Board also approved the Company' s first Modern Slavery

Statement and introduced a new Anti‐Bribery and Corruption Policy.

Finally, on behalf of the Board, I'd like to thank you for your ongoing support of our company and our people during what's been a very challenging period. We look forward to seeing you in person at our AGM next year and continuing to update you on our continued recovery and operational achievements as financial year 2022 progresses.

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Managing Director & Chief Executive Officer's Address

Annual General Meeting

Thursday 18 November 2021

Thank you, Chairman, and good morning. I'd like to extend my welcome to all our shareholders, staff members, and community stakeholders.

Two months ago, we delivered our Investor Day presentation. This included detail of what A2B was, what A2B is today and most importantly detail about our vision for A2B's future.

Yesterday we announced an exciting value creation opportunity for our shareholders through the monetisation of our Alexandria property in Sydney. I'll talk more about this shortly but, as we mentioned during our Investor Day, we are embarking on an exciting journey for A2B. Yesterday's announcement is just another step towards delivering on our stated plans and provides further support for the upside inherent within our whole of company valuation.

In my address today there are 3 topics that I would like to cover.

  1. A reflection of the FY21 year. As Paul outlined earlier, this was a challenging year but one that we feel demonstrates our consistent ability to navigate structural, competitive and wider societal challenges (such as Covid).
  2. Provide several exciting operational updates in the current year including our proactive steps to deliver a valuation uplift of our property portfolio, turnover trends as the economy begins re-opening, and continued cost management initiatives.
  3. Share additional perspectives on our commitments to shareholders as we move forward.

First - a reflection on FY21.

Last year was a challenging year. Our core business was significantly exposed to the impacts of COVID and government restrictions on the movement of people. We have, and continue to, manage through these challenges, some of which may linger a little longer even as vaccination rates strengthen further. Our experiences dealing with the initial and subsequent outbreaks and their associated restrictions give us confidence that A2B will deliver a clear and strong recovery to pre-pandemic levels.

The ability to focus through adversity is not new to us. Over the last few years, A2B has faced regulatory upheaval including the destruction of taxi license revenue. We have witnessed well capitalised global competitors entering the market and actively spending millions targeted at acquiring our customers. We have faced into a technology deficit and navigated the halving of service fee revenue.

Despite these challenges, A2B achieved its record revenue in the history of the company in FY19 (being the most recent pandemic free year) and we currently hold the number 2 position in the Australian Mobility sector with 22% of the market with the next largest provider at 6%.

The resilience of our model is highlighted by A2B preserving a net cash position throughout the entirety of the pandemic - we believe this to be a notable achievement

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A2B Australia Limited published this content on 17 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 November 2021 23:11:05 UTC.