#1TradeWindow Investor presentation Financial results for year ended 31 March 2022#2Disclaimer This presentation has been prepared by Trade Window Holdings Limited (TradeWindow). All information is current at the date of this presentation, unless stated otherwise. All currency amounts are in NZ dollars unless stated otherwise. Information in this presentation: • • is for general information purposes only, and does not constitute, or contain, an offer or invitation for subscription, purchase, or recommendation of securities in TradeWindow for the purposes of the Financial Markets Conduct Act 2013 or otherwise, or constitute legal, financial, tax, financial product, or investment advice; should be read in conjunction with, and is subject to TradeWindow's Financial Statements and Annual Reports, market releases and information published on TradeWindow's website (tradewindow.io); includes forward-looking statements about TradeWindow and the environment in which TradeWindow operates, which are subject to uncertainties and contingencies outside TradeWindow's control - TradeWindow's actual results or performance may differ materially from these statements, particularly as a result of the impacts of Covid-19; includes statements relating to past performance information for illustrative purposes only and should not be relied upon as (and is not) an indication of future performance; may contain information from third-parties believed to be reliable, however, no representations or warranties are made as to the accuracy or completeness of such information; and non-GAAP financial information does not have a standardised meaning prescribed by GAAP and therefore may not be comparable to similar financial information presented by other entities. The non-GAAP financial information included in this release has not been subject to review by auditors. Non-GAAP measures are used by management to monitor the business and are useful to provide investors to access business performance. TradeWindow Investor presentation 2#3Agenda Highlights Our opportunity 4 7 Progress against strategy 13 Financial overview 23 Summary and outlook 31 AJ Smith Deidre Campbell CEO & Director Chief Financial Officer TradeWindow Investor presentation 3#4Key performance indicators $4.9m Total Income 454 Customers Up 108% (Trading Revenue $3.9m up 136%) Up 331 (organic 20, acquired 311) $712 pm Average Revenue Per Customer Down 30% (Organic ARPC up 16%) 50% Gross Margin 94% Customer retention rate 51% % of expenses R&D and Commercialisation Up 14 ppt Note, all comparisons are against FY21 unless otherwise indicated. Down 4 ppt No change TradeWindow Investor presentation 4#5Financial summary Strong organic growth, accelerated with targeted acquisitions. Revenue Trading revenue Other income Total income Costs Total expenses FY22 FY21 % Change $3.9m $1.6m 136% $1m $0.7m 42% $4.9m $2.3m 108% $14.4m $8.2m 76% Profit (Loss) EBITDA¹ ($9.5m) ($5.9m) 63% Net profit (loss) after tax ($10.8m) ($6.6m) 64% Cash position Cash and cash equivalents 1 Earnings before interest, tax, depreciation & amortisation $5.9m $1.4m 320% TradeWindow Investor presentation 5#6Business highlights We're making solid progress on executing our business strategy Organic growth has primarily been driven by Prodoc sales in New Zealand • Providing new solutions to existing customers is proving an effective way to grow revenue, alongside targeted acquisitions - Cube for exporters - FreightLegend for Freight Forwarders (FY23) • Product enhancements and integrations build value and create stickiness among users • Established organisational capabilities to scale up • Completed three acquisitions diversifying customer base and building capabilities Customers Product • 20 new customers in A/NZ • Cube launched • 16 mid-market and enterprise customers now on Cube • 348 product enhancements Multiple key ecosystem integrations¹ Organisation + Acquisitions • Listed on the NZX • Freight (formerly Cyberfreight) • • Established governance framework Increased expertise • SpeEDI Solutions . FreightLegend Rfider (FY23) 1. Including Vero insurance, INTTRA Bookings, INTTRA Schedules, CargoSmart - Schedules, Trade-Van. TradeWindow Investor presentation 6#7TradeWindow Our opportunity#8We're building a global trade platform Data supply Software to capture, format and aggregate data to meet trade compliance requirements REAL-TIME COMPLIANCE DATA TO FACILITATE SERVICES TRUST Exporters Importers Freight Forwarders Customs Brokers TradeWindow Ports Border Agencies Ocean Carriers Banks Insurance Companies Wholesale Customers & Consumers SECURITY REAL-TIME VISIBILITY OF SUPPLY CHAIN TradeWindow Data demand Permissioned access to trusted data needed by supply chain partners to deliver their service Investor presentation 8#9Digital trade is centre stage Market trends have delivered a window of opportunity MACROECONOMIC TRENDS • Supply chain disruption • Inflation • Global skills shortage CUSTOMER DEMAND TRENDS • Operational efficiency • Environment, sustainability and • governance Supply chain visibility Digital Trade Facilitation MARKET ENABLING TRENDS • Digitalisation and automation • Free trade and regulatory compliance • Data harmonisation TradeWindow Investor presentation 9#10Our opportunity TradeTech is an emerging market with initial solutions displacing manual paper-based processes, emails and spreadsheets Productivity Integration of operational systems for superior efficiency TradeWindow Assure TradeWindow Cube Demand for food traceability solutions is estimated to be worth $27 billion¹ worldwide of which A/NZ and Asia represent 64%² Cross-sales to date have proven that value added services beyond trade compliance can be monetised with at least a 100%³ increase in ARPC NZ: $117m Connectivity Secure collaboration & sharing through a fully integrated system TradeWindow Prodoc TradeWindow Freight TradeWindow ExpressDoc TradeWindow Estimate for TradeTech solutions in A/NZ and Asia, based on volume of shipments (TEUS) multiplied by trade compliance costs. ExpressFreight Visibility Differentiated quality assurance and provenance TradeWindow AU: $281m $17b Asia: $16.7b NZ: $2b AU: $10b $272b Asia: $260b NZ: $2b AU: $10b Asia: $260b $272b 1 Source: https://www.marketsandmarkets.com/Market- Reports/food-traceability-market-103288069.html 2 Calculated from the TEU volumes published by the United Nations Statistics Division. 3 Cross-sales of Cube to existing customers have achieved an increase in ARPC of over 100%. 4 Calculated from the TEU volumes published by United Nations Statistics Division and trade compliance and processing costs published by the World Bank. Investor presentation 10#11а TradeWindow is building for global growth Medium-term focus on New Zealand, Australia and Asia Team of 901 subject matter experts spanning four countries Customer base of 454 organisations across APAC Proven solutions with material revenue streams ISO 9001, ISO 27001, PAS99 certified Where we have customers Remote staff Offices 1 Full Time Equivalent as at 30 April 2022 TradeWindow Investor presentation 11#12450+ organisations use our technology Our customers include exporters, importers, freight forwarders and customs brokers OpenCountry Greenlea Top 10 Customers % of trading revenue Customer base by sector TEE SEALORD 3.0% A BayWa Company 2.5% Carrfields Cedenco 2.0% where good food begins 1.5% 1.0% JACK LINKS REDSTAG 0.5% TIMBER 0.0% Note, logos don't correspond to top 10 customers. ...... 1 2 3 4 5 6 7 8 9 10 TradeWindow 7.0% 10.0% Agriculture, Forestry & Fishing Manufacturing 0.0% Electricity, Gas, Water & Water Services Wholesale Trade 69.0% Retail Trade Transport, Postal & Warehousing 13.0% 1.0% Investor presentation 12#13TradeWindow Progress against our strategy#14Our strategy Our vision End-to-end connectivity across global supply chains Strategic summary Trusted digital trade facilitation delivered through a global trade platform that connects our customers with their supply chain ecosystem Our strategic priorities Land Market penetration Build on the foundations of our acquired customer base across A/NZ, and expand into Asia Grow Add customer value Build trusted relationships with our existing customers; with market leading brands taking up Cube Unify Global trade platform Converge proprietary and acquired software solutions into a highly scalable global trade platform People Build capability Create and maintain an environment focused on performance, innovation and accountability Our mission To make global supply chains more productive, connected and visible Acquire Accelerate growth Continue to look for ways to accelerate our strategic priorities and growth through targeted acquisition TradeWindow Investor presentation 14#15Our product strategy We're converging proprietary and acquired solutions into a single global trade platform Suite of solutions Acquire and build key solutions needed to deliver end-to-end digital trade Converged solutions Converge solutions through secure cloud hosting, API connectivity and using common data and services Global trade platform Network of networks that connects all parties across the supply chain ecosystem Productivity Connectivity เอ Connectivity Productivity Visibility Visibility We are here TradeWindow Phase 2 Global trade platform Phase 3 Investor presentation 15#16A digital connected global trade platform Our vision is for a modular platform that consolidates and integrates data, back-end processes, and automates workflow ✓ Common services and architecture patterns ✓ Configuration over implementation ✓ Cloud-hosted ✓ Automated software deployment • Simplify and standardise the technology stack • Rapid integration • Low-touch rapid deployment • Single data entry Consistent UI/UX TradeWindow Investor presentation 16#17Delivering against our strategy Land Grow FY22 ✓ Further consolidated market leadership in NZ ✓ Commercial launch of Cube in NZ ✓ Entry into the Australian market, winning 'banner brand' customers FY23 and beyond Build market share in Australia through organic sales focused on mid-market exporters and SME freight forwarders Establish a managed service offering in A/NZ • Establish indirect sales channels in A/NZ and Asia ✓ Newly-acquired customers ✓ Commenced cross-selling Cube to existing Prodoc customers ✓ Commenced cross-selling FreightLegend to existing Freight customers • Deliver data visualisation and insights tools Establish 24/7 customer support • Deliver customer capability training to provide a pipeline of certified users TradeWindow Investor presentation 17#18Delivering against our strategy Unify FY22 Commercial release of trade contracts, bookings and schedules and origin modules ✓ Assimilated acquisitions into TradeWindow's organisational structure FY23 and beyond Converge proprietary and acquired capabilities and new solutions into a single platform • Convert legacy solutions to cloud native • Deliver data-driven solutions Established product, onboarding and support functions ✓ Recruited Country Manager, Australia People ✓ Organisation restructure prioritising for speed of delivery and revenue growth TradeWindow • Offshore low risk roles to access talent and build resilience • Establish a leadership training programme • Greater use of benefits to attract and retain experts • Recruit further team members across both commercial and R&D roles Investor presentation 18#19Our network in New Zealand has momentum Broad range of services provided across the industry in established, growing market Our key product offerings in New Zealand Prodoc is NZ's #1 export document solution • Origin provides a fast turn-around Certificate of Origin service • Freight and Express Freight¹ provide the solutions needed by forwarders, importers and customs brokers Cube allows for trusted collaboration across supply chains PortConnect is the bridge to the Port of Tauranga and Ports of Auckland (FY23) Traceability* 宜 · INTTRA and CargoSmart connect to majority of the world's ocean carriers Trade Finance* • Connectivity with Vero for marine insurance Assure will enable supply chain traceability, to be enhanced with the acquisition of Rfider FY22 revenue • Revenue up 67% to $2.4 million 1ExpressFreight is SpeEDI TradeWindow Insights* Export Documents Certifications ↑↑ Freight Forwarding Operations TradeWindow Border Clearance Productivity Connectivity Visibility Marine Cargo Insurance Ocean Carrier Bookings Port Connectivity Connectivity Collaboration & Storage *These content and service offerings are planned or in development. Investor presentation 19#20Strong foundations established in Australia Focus on accelerating growth in FY23 D Export Documents Our key product offerings in Australia . Prodoc is being used by leading seafood and FMCG brands Origin is being localised for the Australian market • Freight is well positioned to serve the SME sector • Cube, Assure and data insights tools can be rolled out with minimal localisation • INTTRA and CargoSmart are global solutions with no need for localisation FY22 revenue • Revenue up 520% to $1.4 million (driven by the Freight acquisition) Traceability* 15 Trade Finance* TradeWindow Insights* Certifications* ↑↑ Freight Forwarding Operations TradeWindow Border Clearance* Productivity Connectivity Visibility Marine Cargo Insurance* Ocean Carrier Bookings Port Connectivity* Connectivity Collaboration & Storage *These content and service offerings are planned or in development. Investor presentation 20#21Delivering against our strategy Acquire FY22 FY23 and beyond Acquired Cyberfreight (Freight) ✓ Acquired SpeEDI Solutions (ExpressFreight¹) ✓ Acquired FreightLegend • Acquired Rfider (FY23)² • Target incumbent software solutions to accelerate entry into new markets • Target adjacent software solutions that deliver complementary capability to the global trade platform 1 SpeEDI solutions will be rebranded to ExpressFreight during FY23. 2 Subject to completion. TradeWindow Investor presentation 21 21#22Rfider acquisition Post balance date acquisition will extend reach into primary industry supply chains Transaction summary Rfider is an all-in-one solution for collecting, securing and sharing item-level traceability and process data within and across organisations. Rfider has customers in Australasia, Europe, USA and South America. The agreement is conditional and settlement is expected on or before 31 July 2022. Transaction benefits • Rfider has developed a mobile interface that can be rapidly deployed in complex chains to capture many points of data. This will allow TradeWindow to extend its reach deeper into primary industry supply chains by providing traceability all the way back to the points of cultivation and production. • In particular, it will strengthen TradeWindow's offer for customers who compete on transparency of origin, ethical practices, sustainability and quality. • It will give TradeWindow positive exposure to an additional estimated $16.8bn¹ worldwide market opportunity for food traceability. TradeWindow Investor presentation 1 Source: https://www.marketsandmarkets.com/Market-Reports/food-traceability-market-103288069.html 22 22#23TradeWindow Financial overview#24Financial performance Trading revenue up 136% driven by organic growth and acquisitions $000s Trading revenue Other income Total income FY22 FY21 Change $ Change % • Trading revenue up 136% to $3.9m, total 3,878 1,642 2,236 136% 999 702 297 42% . 4,877 2,344 2,533 108% Employee benefits expense 10,830 6,343 4,487 71% Other expenses 3,594 1,864 1,730 93% Total expenses 14,424 8,207 6,217 76% . EBITDA1 (9,547) (5,863) (3,684) 63% Depreciation & amortization 1,667 1,070 597 56% Net finance expenses 170 141 29 21% Income tax Net loss after tax 1 EBITDA - Earnings before interest, tax, depreciation & amortisation (560) (476) (84) 18% (10,824) (6,598) (4,226) 64% TradeWindow income up 108% to $4.9m (includes acquisitions) Employee costs up 71% to $10.8m, driven by planned investment in new employee resources and employees who have joined through acquisitions Other expenses rose 93% to $3.6m, driven by listing related costs of $1.1m Net loss of $10.8m after tax includes office premises lease up $0.2m and acquisition amortisation and interest up $0.3m Investor presentation 24 4#25Revenue by type and country Subscription + transaction pricing model provides upside opportunity while retaining predictable revenue streams Revenue by type $000 Transactional Subscription Services Installation FY22 FY21 Change % 1,622 873 86% 1,596 420 280% 226 144 57% 434 205 112% Total trading revenue 3,878 1,642 136% Other income Total income 999 702 42% 4,877 2,344 108% Trading revenue by country $000 FY22 FY21 Change % New Zealand 2,356 1,409 67% • • Strong, sustainable revenue through predictable subscription and transaction revenue Transactional revenue increase included a shift to transactional pricing for the majority of Prodoc customers Subscription revenue was significantly up, mainly due to the acquired Freight businesses Strong organic growth of 32% from Prodoc, Cube and Origin solutions • Other income - increase from R&D tax credit grant • Strong momentum in New Zealand and Australia with 67% and 520% revenue growth, respectively Australia Asia 1,446 233 520% 76 0 100% Total trading revenue 3,878 1,642 136% TradeWindow Investor presentation 25#26Average revenue per customer (per month) Organic ARPC up 16%, newly acquired customers provide cross-sell opportunity Organic business FY22 FY21 Change % Subscriber customer nos. period end 134 123 9% Ave Subscriber customer nos. 131 111 Ave monthly revenue per customer $ 1,183 1,022 16% . Increased monthly average revenue per customer (ARPC) for organic business – up 16% Overall ARPC reduced 30% reflecting lower ARPC in acquired businesses. Confident in increase with cross-sell strategy Acquisitions have delivered greater diversity of customers including small and medium enterprise businesses Acquired freight businesses • FY22 FY21 Change % Subscriber customer nos. period end 320 0 100% Ave Subscriber customer nos. 287 0 Ave monthly revenue per customer $ 492 0 100% Ave monthly revenue per customer Subscriber customer revenue $000 Subscriber customer nos. period end Ave Subscriber customer nos. Ave monthly revenue per customer $ FY22 FY21 Change % 3,565 1,362 162% 454 123 269% 418 111 712 1 Subscriber customers are those that are licensing TradeWindow's software and generate monthly subscription revenue. These customers may also generate transaction, services & installation revenues. It excludes certificate and other revenue. 1,022 -30% TradeWindow Investor presentation 26#27Operating expenses / staff numbers Higher expenses reflect planned investment in R&D, commercialisation and organisational capability Employee benefits expense $'000s Cost of goods sold FY22 FY21 Change $ Change % · 1,485 668 816 122% Previously signaled investment in headcount to support growth including 12 via acquisition Research & Development Sales & Marketing 4,592 2,783 1,809 65% • 1,971 695 1,276 184% General and Administration Total employee benefits 2,783 2,197 586 27% • 10,830 6,343 4,487 71% Staff nos. (FTE) as at 31 March 2022 FY22 FY21 Change $ Change % Cost of goods sold 17 9 8 86% Research & Development 41 27 14 51% Sales & Marketing 17 12 5 39% General and Administration 15 9 6 70% Total staff nos. (FTE) 89 57 32 57% Other expenses $'000s FY22 FY21 Change $ Change % Cost of goods sold 459 377 83 22% Research & Development 301 341 (40) -12% Sales & Marketing 559 346 213 62% General and Administration 2,274 800 1,475 184% Total 3,594 1,864 1,730 93% TradeWindow • R&D up $1.8m to support current and future growth (employee numbers from 27 to 41) No R&D cost capitalised to balance sheet Increased sales capability in New Zealand and Australia General and administration up-building organisational capability (e.g. HR, Finance) to support listed environment and growth opportunities Other expenses included one-off listing costs ($0.5m) and related ongoing costs increases ($0.6m) (insurance, audit, professional) Investor presentation 27#28Financial position Capital injection and acquisitions drive lift in total assets $000s Current Assets FY22 FY21 Change $ Change % Movements 7,852 2,023 5,829 288% Cash up $4.5m to $5.9m. Receivables up $1.3m including IRD R&D claims of $1m Non-Current Assets 8,663 4,115 4,548 111% Acquired software $1.4m. Goodwill $1.5m. Lease asset $1.4m Total Assets 16,515 6,138 10,377 169% Current Liabilities 2,967 1,423 1,543 108% Trade and other payables $0.6m; lease $0.5m; deferred income $0.4m Non-Current Liabilities 2,704 1,220 1,484 122% Acquisition loans $0.5m; lease $0.9m Total Liabilities Net Assets 5,670 2,644 3,027 114% 10,845 3,494 7,350 210% Total Equity 10,845 3,494 7,350 210% TradeWindow Share capital/notes $18.4m (Private capital raise $15.0m, equity settled acquisition $2.4m, staff share options $0.9m). Retained earnings $(10.8m). Investor presentation 28#29Cashflow Balance date cash and cash equivalents of $5.9m $000s Operating Activities FY22 FY21 Change $ Change % Balance date cash and cash equivalents of $5.9m, up $4.5m on FY21 Key activity during the year: Cash Received from Customers 4,040 1,673 2,367 141% - Cash Paid to Suppliers and Employees (13,204) (7,283) (5,921) 81% Income Tax Received 475 (483) -102% Grant Income 676 559 117 21% Operating net cash flow (8,496) (4,576) (3,920) 86% Investing net cash flow (1,961) (112) (1,849) 1651% Financing cash flow 14,976 5,114 9,862 193% Net Change in Cash 4,618 426 4,192 984% Opening Cash 1,413 987 426 43% Closing Cash 5,933 1,413 4,520 320% Operating activity: Cash from customers up 141% Cash paid reflects higher expenses Investing activity: Mainly acquisition cash settlements $1.6m Financing activity: • Private capital raise $15.0m Acquisition loans net of repayments $0.4m Lease payments -$0.4m Actively working with advisors and major shareholders to determine best funding path for future growth TradeWindow Investor presentation 29#30Average revenue per customer by revenue type (per month) Transactional revenues $000 FY22 FY21 Predominant brand 1,342 593 Prodoc/Cube + Speedi Installation revenue $000 Ave Transactional customer nos. 159 111 Ave monthly Transactional revenues per segment customer $ 702 446 FY22 FY21 Predominant brand 434 205 Prodoc Total Install customer numbers 26 15 Average Install revenues per new customer (one off) $ 16,699 14,078 Subscription revenues $000 1,593 420 Prodoc/Cube + Freight Total Group Subscriber¹ revenues $000 3,565 1,362 Total Subscriber customer nos. 418 111 Average Subscription customer numbers 389 111 Ave monthly Subscription revenues per segment customer $ Total average monthly revenue per customer $ 712 1,022 341 316 Service revenues $000 Average Service customer numbers Ave monthly Service revenues per segment customer $ Certificate & other revenue $000 313 280 195 144 Prodoc/Cube + Freight Total trading revenue $000 389 111 42 42 108 3,878 1,642 1 Subscriber customers are those that are licensing TradeWindow's software and generate monthly subscription revenue. These customers may also generate transaction, services & installation revenues. It excludes certificate and other revenue. TradeWindow Investor presentation 30#31TradeWindow Summary and outlook#32FY23 outlook ⚫ Clear strategy for FY23 and beyond, focused on continued revenue growth in New Zealand and Australia, alongside the building of a global trade platform. • FY23 trading revenue expected to be within a range of $5.5 million to $7.0 million; with total income between $6.0 million and $7.5 million. FY23 guidance subject to: • • ongoing geopolitical and environmental uncertainty, including the impact of ongoing supply chain challenges; and the timing of customer decisions and implementation of Cube and other solutions. Guidance excludes revenue from any new acquisitions, including the conditional Rfider acquisition as announced to the NZX on 17 May 2022. Investor presentation TradeWindow 32 32#33Summary • • • Strong delivery and momentum on our priorities, including investment for growth. Growth is from new sales and deepening relationships with existing customers. Global trade is undergoing significant transformation and TradeWindow is well positioned to capitalise on favourable trends. TradeWindow has strong fundamentals, a diversifying customer base and we are delivering on our plans. Compelling product set is proving popular with existing, acquired and new customers. Ongoing investment critical to take advantage of the opportunity to build a global trade platform. Investor presentation TradeWindow 33 33#34TradeWindow Q&A