Cartrack IPO

RECONCILIATION OF FREE CASH FLOW & FREE CASH FLOW MARGIN ZAR ('000) Net Cash Generated from Operating Activities Less: Purchase of Property, Plant and Equipment Free Cash Flow Net Cash Generated from Operating Activities as % of Revenue Less: Purchase of Property, Plant and Equipment as % of revenue Free Cash Flow Margin % ( FY19 472,258 (422,061) 50,197 27.9% 24.9% 3.0% FY20 901,224 (388,723) 512,501 46.4% 20.0% 26.4% Q3 FY20 664,465 (303,888) 360,577 46.4% 21.2% 25.2% Q3 FY21 714,234 (303,719) 410,515 42.6% 18.1% 24.5% 44

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