#1Wide Audience Investor Presentation WeBuyCars February 2024 ASIEN REDUSER we buy cars BUYING A NEW RIDE? Need Insurance? SME OUT TO 30175 OUT#2Overview of WeBuyCars Presenters Introduction FAAN VAN DER WALT Chief Executive Officer CHRIS REIN Chief Financial Officer WYNAND BEUKES Chief Digital Officer 1#3Anticipated WeBuyCars Transaction Timeline The proposed transaction including the listing will be concluded by early April 2024 Transaction Capital announces unbundling (cautionary) Late Jan 2024 Investor engagements Transaction Capital shareholder meeting We Buy Cars Holdings lists on the JSE Mid Feb 2024 Mid Mar 2024 Mid Feb 2024 Mid Feb 2024 TC announces unbundling (firm intention announcement) Publication of circular Early Apr 2024 Mid-late Mar 2024 Shortly after listing Bookbuild Implementation of unbundling 2#4The WeBuyCars Story From a family-owned business, WeBuyCars has grown into SA's leading pre-owned vehicle trader 2001 WeBuyCars founded by the van der Walt brothers. 2001 2011 Capacity expanded - 700 vehicles. 2016 - 2018 2014 • Launch of supermarkets in • Cape Town, Durban and Midstream. Buying pods established at selected retail malls. Expanded product offering in collaboration with finance & insurance providers. Notes: 1.Business to Consumer 2. Business to Business 2020 • • 2016 2011 2010 2010 · 1st supermarket built in Pretoria - capacity 100 vehicles. 2014 . Expanding nationally and appointing first buyers in all major towns in South Africa. 2019 • • 2020 Public e-commerce auctions launched 'B2C' 1 & 'B2B' 2. Transaction Capital ("TC") acquires a non- controlling 49.9% stake in WeBuyCars. Buying and selling over 6k vehicles per month. 2022 & 2023 Consistently buying and selling over 12k vehicles per month. Large-scale physical expansion. 2019 • Opening of new supermarkets in Durban (2nd) and Port Elizabeth. • Silver Lakes relocated to larger premises. New mega supermarket in Cape Town. Artificial intelligence developed | IP to automate optimal vehicle pricing. Expanded offering to include tracking services. 2024 2021 2023 2021 ° TC increases its effective shareholding in WeBuyCars to 74.9%. Purchase of the Dome in Johannesburg expanding its footprint and becoming one of the biggest pre-owned vehicle supermarkets globally. 2024 14k vehicles sold in January. Intention to Unbundle and List WeBuyCars Holdings on the Main Board of the JSE. 3#5WeBuyCars Today WeBuyCars spans South Africa with a robust multi-channel strategy, connecting seamlessly with a diverse customer base We Buy Cars Branches and Pods Current Branches Current Pods WeBuyCars recently launched operations in Namibia Richmond- Epping Brackengate Source: Company Data Silver Lakes Midstream The Dome Germiston JHB South George Polokwane! Gqeberha 而 Mbombela 2,817 employees c. 10%-12% market share and growing years 23 Pietermaritzburg Riverhorse Springfield 23 years of buying and selling vehicles 345 buyers nationally AAA 15 supermarkets and 74 buying pods countrywide In excess of 13.5k vehicles bought and sold per month 4#6WeBuyCars Market Positioning 1250 000 SA's vehicle parc² is growing despite reduction in new vehicle sales Vehicle sales (CAGR)¹ Used vehicle New vehicle 0.5% 10 year ✰ 1.8% 5 year 1.4% 10 year 5 year 1.1% 1000 000 750 000 500 000 250 000 2005 2020 2022 2010 2015 ■New vehicle sales ■Pre-owned vehicle sales 2022 Estimated Market Distribution 2005 Estimated Market Distribution 64% 36% ■New Vehicles ■Pre-owned Vehicles Notes: 1. Compound annual growth rate Notes 2: eNatis: PARC data consists of passenger & light commercial vehicles Sources: 1. Internal estimation using eNatis & Lightstone data (double counting eliminated) 70% 30% ■New Vehicles Pre-owned Vehicles 5 LO#7WeBuyCars Market Positioning (continued) USA Select Listed Players South Africa CARmax M we buy cars Europe CAZOO AutoTrader vroom Manheim by Cox Automotive Motus and CMH are not seen as directly comparable to WeBuyCars as they offer different products and services outside of sales of pre-owned vehicles. This includes new vehicles as well as rentals etc. AUTO 1 GROUP webuyanycar Selling Made Simple Peers No comparable listed equivalent in the South African market. No competitors buy and sell pre-owned vehicles at WeBuyCars' scale. Reliance No reliance on individual OEMs, vehicle brands or customers. Agnostic to imports or foreign currency volatility. Unique business model with no single directly comparable competitor Leveraging Operating leverage through the combination of the in- house artificial intelligence platform and ownership of supermarket properties. 6#8WeBuyCars Growth Strategy WeBuyCars has many levers and opportunities for continued organic growth and is the market leader in pre-owned vehicles Market Share target of c. 23% by FY28, currently at c. 10% - 12% Drive Current Offering (FY28: 22k vehicles sold per month) Expand Product Offering || Physical Expansion Further in-house IT infrastructure and machine learning development to support current offering. Increase economies of scale in B2C while maintaining B2B sales. Continue to harness data and drive E- commerce offering. Future - AutoBuy, Wefin, 3rd party sales. Grow current F&I¹ sales and take advantage of new ancillary product opportunities. Repeat sales to customers and new sales channels under consideration. Drive operational efficiencies to increase operating leverage. Continue to expand physical footprint through the planned expansion of an additional 2,000+ bays between FY25-FY26. Expanding selling to regions in South Africa not yet penetrated. Notes: 1. Finance and Insurance 7#9140 000 120 000 100 000 80 000 60 000 40 000 20 000 88 k WeBuyCars Growth Strategy (continued) 126 k 141 k Consistent trend of channel distribution and market share growth Channel Distribution FY21A FY22A FY23 Sales to dealerships (c. 20-25% of current sales) typically increases liquidity and together with the ability to leverage customer sales creates a strategic advantage. 0 Total units sold 33 k 36 k 30 k 43 k B2B B2C - Cash Anticipated Market Share 67 k 82 k 12 k 23% 21% 19% 16% 14% c. 10%-12% B2C - F&I FY23 (Estimated) FY24 FY25 FY26 FY27 FY28 Notes: 23 k 30 k Financed sales (c. 20% of current sales) unlocks second gross and ancillary product opportunities. Introduce new F&I products Grow F&I sales volumes (Higher Margin) Leverage B2B sales Utilise the established brand to enhance footprint 1.FY23 represents actual 12 months ended September as audited. FY21A-FY22A have been reconstructed to illustrate comparable 12 month periods. 8#10WeBuyCars - Power of digital real-estate Digital business platform enables economies of scale - scalability of IT-infrastructure is infinite. Automation, experimentation & optimization developed in-house using latest technologies in computer vision, deep learning, large language models, machine learning and Al'. Marketing with data- driven insights WhatsApp lead qualification MARKETING we buy cars Computer Vision Direct RTMC integration² populates details from Natis and Licence disc scan Assign best buyer FU Data point collection BUYING LEAD ANALYSIS & LEAD GENERATION Website visits Monitoring views per Notes: 1.Artificial Intelligence 2.Optical character recognition car Tracking on Clicks Lead Qualification through ChatBot BIG DATA Online Payment and Settlement Automated final pricing populated Final Offer generated SELLING Market scraping for price comparison Price to sales strategy - increase gross profit or liquidate stock PRICING Automated price recommendation Probability to Finance#11REVENUE (R' MILLIONS) R' MILLIONS Growth of WeBuyCars: 2010 to 2023 25 000 WeBuyCars has grown market share and profits exponentially Revenue and units sold 20 000 15 000 10 000 5 000 800 600 400 200 150 000 R10.7bn R20.0bn R17.9bn H 100 000 50 000 FY11 FY12 FY13 FY14 FY15 FY16 FY17 Number of units sold per year FY18 FY19 FY20 FY21A FY22A FY23 Revenue Core Net Profit after Tax¹ Net Profit CAGR: 60% R541m . Revenue of c. R68 million; 2011 • Profit of c. R2.5 million. R762m R660m 2013 . 2019 2000+ vehicles sold; Revenue exceeds R110 million. 4 new supermarkets; Technology platform successfully developed and rolled out. • 6 new supermarkets; 0 2022 • NPAT² of c. R762 million. FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21A FY22A FY23 Notes: Notes: 1. The above graph represents the core net profit after tax attributable to continuing operations (excludes non-core and non-recurring items) 2. Net profit after tax before non-operating adjustments 1.FY23 represents actual 12 months ended September as audited. FY21A-FY22A have been reconstructed to illustrate comparable 12 month periods. 10 UNITS SOLD#12WeBuyCars Income Statement and Cash Generation Operating performance and cash flow conversion 1 400 1200 1000 1184 1105 824 780 762 800 541 600 400 200 0 FY21A FY22A EBITDA Operating profit Core profit after tax 206 FY21A - 83 FY22A Net Cash generated from Operations 596 FY23 Cash Conversion (%) Notes: 1. All figures in R' Millions unless otherwise stated 2.Cash Conversion is calculated as Net Cash generated from Operations divided by Core Net Profit after Tax 90% 70% 50% 30% 10% -10% Cash Conversion (%) Notes: 1147 1030 FY23 660 Major working capital required in FY22A due to the opening of 6 new supermarkets Investments in FY21A and FY22A significantly increased cash generation from operations in FY23 1.FY23 represents actual 12 months ended September as audited. FY21A-FY22A have been reconstructed to illustrate comparable 12 month periods. 11#13WeBuyCars Robust Balance Sheet WeBuyCars has maintained a strong balance sheet with enhanced cash conversion in FY2023A 20 15 24 OG 5G BN & G 10 25 30 35 608 2 381 4 059 FY21A 1 678 Cash Conversion Cycle 24 25 24 25 3 3 5 588 3 123 1 386 2 465 FY22A Net Debt Total Equity Total Assets Total Liabilities 30 30 FY21A FY22A FY23 Inventory days Debtors days Creditors days Cash Conversion Cycle Notes: 1. All figures in R' Millions unless otherwise stated 2. Loan to value 6 012 3 602 1 251 FY23 2 410 Low LTV2 with property gearing at c.70% loan to cost and other assets at c.20% LTV Debtors and creditors days remain low as the business model of buying and selling vehicles is predominantly cash Assets have consistently grown while maintaining healthy gearing levels Notes: 12 3. FY23A represents actual 12 months ended September as audited. FY21A-FY22A have been reconstructed to illustrate comparable 12 month periods#14WeBuyCars Summary - Vision and Ambition Our ambition is to double market share from c. 10% - 12% currently to c. 23% by FY28 Well positioned to benefit from pre-owned vehicle trends in the motor industry we buy cars Established relationships and brand with SA consumers to enable growth initiatives Continue to leverage off a strong brand, management team, people and technology Maintain a technology driven competitive advantage as a differentiating factor Well capitalized business and highly cash generative model enabling flexibility and first mover advantage for growth opportunities Consistent returns to shareholders via dividends and capital growth 13#15INSURANCE You are invited to a site visit at The Dome The Dome is the largest vehicle supermarket in Africa, housing 1500 bays we buy cars Yes, we want your car cars we buy cars we cars When: Thursday, 22 February 2024 (11am - 12pm) Where: WeBuyCars Dome, Northumberland Rd and, Olievenhout Ave, North Riding, Randburg, 2161 Please confirm attendance at [email protected]#16OUT ASIEN REDUSER we buy cars Q&A BUYING A NEW RIDE? Need Insurance? SME OUT TO 30175#17ASIEN REDUSER we buy cars Annexures to the presentation BUYING A NEW RIDE? Need Insurance? SME OUT TO 30175 OUT#18WeBuyCars - Investment case Summary WeBuyCars has disrupted the pre-owned vehicle market by creating a household brand while utilising cutting-edge technology we buy cars • Investment Case Reputable, trusted, household brand in the South African market. • Continued growth in revenue and bottom-line, with room to grow market share, • • operating at a scale where we have limited competitors. Comprehensive, efficient, and seamless offering of buying and selling of vehicles through physical and online sales channels. • Longstanding relationships with motor dealers, insurers, major vehicle finance houses and tracking companies. No gatekeepers or reliance on individual OEMs, vehicle brands or customers. Notes: 1.Original Equipment Manufacturers 17#19WeBuyCars - Technology Summary WeBuyCars has disrupted the pre-owned vehicle market by creating a household brand while utilising cutting-edge technology ៩ Technology Driven • • · 20+ years of proprietary data enabling a data driven business. Purpose built, in-house developed digital business platform, enabling real-time responses to market changes with automated decision making. Al driven pricing strategies on buying and selling, to maximise margin and stock turn. • One integrated e-commerce solution creating liquidity avenues for private and dealer sales. • A data centric approach ensures that WeBuyCars remains at the forefront of the industry. 18#20WeBuyCars - Growth Summary WeBuyCars has disrupted the pre-owned vehicle market by creating a household brand while utilising cutting-edge technology חוו. 美 • Growth Strategy Double market share from c. 10% - 12% to c. 23% by FY28. • Increase the physical footprint across South Africa whilst targeting strategic • opportunities for growth. Further investments in technology to optimise profitability and decision-making. • Increase operating leverage by generating more revenue per transaction through enhanced and additional product offerings. • Additional sales channels under investigation. 19#21WeBuyCars - Financial Summary WeBuyCars has disrupted the pre-owned vehicle market by creating a household brand while utilising cutting-edge technology Kil • Robust Financials Sustained revenue and net profit growth driven by sales volumes and economies of scale. • High correlation between net profit and cash generated from operations. • • Strong balance sheet position with low gearing, high liquidity and solvency levels. Ability to optimise the sales mix through either driving B2B sales for rapid cash generation or B2C sales for higher profit margins. 20 20#22WeBuyCars Robust Balance Sheet WeBuyCars balance sheet exhibits high liquidity, solvency and low gearing levels 2.34 Liquidity 1.90 Current Ratio Gearing Solvency ROE 33% 2.83 48% 2.42 2.49 2.27 39% 23% 23% 32% Debt/Equity FY21A FY22A Assets/Liabilities FY23A Core Return on Equity Liquid balance sheet that allows short term debt to be settled as required Low gearing levels allowing opportunities for growth to be explored at short notice High solvency levels ensuring cost of debt is competitive, resulting in interest savings Profitability expected to increase as macroeconomic environment improves, enhancing balance sheet strength ROE has remained high, with WeBuyCars well positioned to capitalise on investments made in prior years. WeBuyCars is well capitalized to enable growth initiatives to be pursued, enhancing returns for shareholders Notes: 1.FY2021A-FY2023A represents actual and reconstructed 12-month periods ended September to align with the current year end 21#23WeBuyCars Experienced, entrepreneurial management team Wider Management team that has the relevant experience and contribute to the entrepreneurial excellence Dr. WYNAND BEUKES (46) Chief Digital Officer B.Com Informatica, Masters in IT, PHD Appointed February 2018 20+ years of Information Technology experience with senior positions at BCX & Telkom JOHN MILLS (49) Operations Director • National Diploma in Higher Education Appointed May 2012 15+ years experience in the automotive industry as COO at WeBuyCars RIKUS BLOMERUS (33) Chief Marketing/HR Officer B.Com Industrial Psychology & Labour Relations Management, B.Com Labour Relations (Hons), MBA Appointed December 2017 Heads up both Marketing and Human Resources • • RICHARD WEBBER (33) General Manager - Buying B.Com Financial Accounting, B.Com Financial Accounting (Hons), Diploma in Advanced Project Management, MBA Appointed January 2018 WILLEM KLOPPER (38) Chief Strategy Officer • . MSc Management Research (Oxon), B.Com Accounting (Hons) Chartered Accountant (SA) Appointed February 2022 11+ years experience in investments and capital allocation • • JANSON PONTING (48) Sales Director B.Com Accounting (Hons), MBA Chartered Accountant (SA) Appointed June 2019 18+ years experience in the automotive industry with senior positions at Imperial Group BERNADETTE COHN (34) Group Financial Manager ° • . B.Accounting (Hons) Chartered Accountant (SA) • Appointed March 2022 Previously Waco International Pty (Ltd) as Group Financial Manager 10+ years post article experience SEAN SEVELL (50) Head of Admin and Risk Bachelor of Administration Degree Appointed September 2021 Previously acting Deputy Director of vehicle fitness - Gauteng province and various other senior positions within the Gauteng Department of Transport 22 22#24WeBuyCars Economic, Social, Environmental and Governance¹ Societal purpose: To accelerate sustainable mobility through innovation, simplicity, and trust. • . Governance WeBuy Cars is a well-known and trusted brand in an industry where historically trust has been lacking. WeBuyCars is committed to transparency and reliability: • All sales go through the FIC² process; and • All cars come with an independent roadworthiness evaluation. The formalisation that WeBuyCars brings to the market ensures that all funds flow through the formal banking environment. Insurance and value-added products protect WeBuyCars' customers. cars • • Promoting climate resilience Solar PV installed at 9 of the 15 supermarkets with 18% of our electricity consumptions supplied by our onsite solar plants. WeBuy Cars installed water flow meters on our rainwater harvesting tanks, enabling us to measure our alternative water sources 10 045 KL of rainwater usage measured from our tanks, accounting for 21% of total water consumption. WeBuyCars operates within the reuse aspect of the circular economy by extending the lifespan of vehicles in South Africa. By providing customers the option of purchasing pre-owned vehicles, we actively reduce the demand for new vehicles and minimise the associated carbon footprint. . Hiring inclusively & Socio-economic development 265 jobs created in 2023 (FY22: 905). 243 youth jobs created (<25 years old) (FY22: 281). X-celerate programme was designed, which is mapped as a three-year learning journey across 3 different levels within the organisation. R6.9 million (FY22: R3.8 million) spent on socio economic development. Note 1: Reported as at 30 September 2023. Note 2: Financial Intelligence Centre 23#25WeBuyCars Simplified Structure - Pre and Post Listing Transaction Capital Ltd 100% Existing TC shareholders will receive new shares in WeBuyCars (listed) Transaction Capital Motor Holdco (Pty) Ltd 100% 74.9% 100% I VDW Holdings (Pty) Ltd (WeBuyCars Founders) Existing TC Shareholders New Investors I VDW Holdings (Pty) Ltd (WeBuyCars Founders) 25.1% WBC Holdings (Pty) Ltd We Buy Cars (Pty) Ltd WBC Properties (Pty) Ltd 100% We Buy Cars (Namibia) (Pty) Ltd 100% WBC Investments 100% (Pty) Ltd We Buy Cars AME Holdings DMCC 1 Notes: 1. In the process of being wound down and liquidated. Notes: 2: Name to change upon listing. 100% WBC Societe Anonyme (Morocco) 1 100% We Buy Cars Holdings Ltd² We Buy Cars (Pty) Ltd 100% 100% WBC Properties (Pty) Ltd WBC Investments (Pty) Ltd 100% We Buy Cars (Namibia) (Pty) Ltd 24 24#26Contacts IMPORTANT NOTICE Should you have any questions on the presentation, please contact PSG Capital: Terence Kretzmann: Email: [email protected] Mobile: 081 831 2709 Calvin Craig: Email: [email protected] Mobile: 072 959 8198 25#27IMPORTANT NOTICE This presentation has been prepared by, and is subject to the copyright of, WeBuyCars. No part of this presentation may be reproduced, transmitted, stored in a retrieval system or translated in any other language in any form, by any means without the prior written consent of WeBuyCars. This presentation is confidential and has been furnished to the intended recipient solely for such recipient's information and private use and may not be referred to, disclosed, reproduced or redistributed, in whole or in part, to any other person. This presentation has been prepared on the basis of publicly available information, internally developed data and other sources believed to be reliable. This information has not been independently verified by WeBuyCars. No representation or warranty as to this presentation's accuracy, completeness or correctness is made and no reliance should be placed on the accuracy, completeness or correctness thereof. The information contained, and any opinions expressed, in this presentation are subject to change at any time and WeBuyCars is under no obligation to inform the intended recipient or any other person of any such change. WeBuyCars accepts no responsibility or liability whatsoever in relation to this presentation (including error contained in the presentation or in relation to the accuracy, completeness or correctness of this presentation on in relation to any projections, analysis, assumptions and/or opinions contained herein nor for any loss of profit or damages or any liability to a third party whatsoever arising from the use of this presentation). The exclusion of liability provided herein shall protect WeBuyCars, its directors, employees, agents, representatives and/or associates in all circumstances. This presentation is a brief summary and does not purport to contain all available information on the subjects covered. Further information is available on request. Disclaimer 26 26