Cartrack IPO

ACCELERATING ADJUSTED EBITDA WITH A POSITIVE CASH FLOW Adjusted EBITDA(1) ZAR M Adjusted EBITDA Margin(¹) 27% YOY growth rate 738 FY 2019 44% $61M USD(3) 937 FY 2020 48% 699 Q3 FY2020 49% 22% YOY growth rate 855 Q3 FY2021 51% FCF Margin(2) 50 FY 2019 3% FCF(2) ZAR M $33M USD(0) 513 FY 2020 26% 361 Q3 FY2020 25% 14% YOY growth rate 411 Q3 FY2021 25% m) Adjusted EBITDA & adjusted EBITDA margin are non-IFRS metrics. Please see appendix for reconciliation to closest metric calculated in accordance with IFRS 20 Free cash flow defined as net cash generated from operating activities less purchase of property, plant & equipment. Free cash flow & free cash flow margin are non-IFRS metrics. Please see appendix for reconciliation to closest metric calculated in accordance with IFRS. Exchange rate of 15.43 ZAR:USD as of November 30, 2020 33

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