Ondo Insur Tech Plc · LSE:ONDO
Ondo Insur Tech — H1 2024 Earnings Presentation
28 slides from Ondo Insur Tech's earnings presentation, Nov 17, 2023
Slide 1: Interim Results | Period Ending September 30 2023
INTERIM RESU NJ INTERIM RESULTS | PERIOD ENDING SEPTEMBER 30 2023 waterwise NY Affiliate Baran
Slide 2: Agenda
. N " waterwise NY es Affiliate SARRIN” XIZ7 CRAIG FOSTER ONDO InsurTech PLC Founder and CEO (eo) \Ke)\| pie) AGENDA 1.Company Overview KEVIN WITHINGTON CFO 2.Interim Results WWW.ONDOPLC.COM 01 | INTERIM RESULTS - PERIOD ENDING SEPTEMBER 30 2023
Slide 3: LeakBot prevents water leaks
,ONDO LeakBot prevents water leaks. Rapidly growing base of 84k customers, LeakBot has a proven ROI. Its a win for insurers - carriers covering 5 million households have signed up already. My And homeowners love it - Wwe have a Trust Pilot Score of 4.8 Our Vision Our Mission To become the world lead
Slide 4: The Problem of Water Leaks for Insurers
. N .ONDO waterwise Sl THE PROBLEM OF WATER LEAKS FOR INSURERS Water leaks are one of the worst home insurance perils around the world. Internal plumbing is largely hidden from view, in walls and ceilings. Small leaks go unnoticed, until it is too late and cause £14bn worth of claims every year in U
Slide 5: The Problem of Water Leaks for the Environment
. Nl ONDO water wise NI THE PROBLEM OF WATER LEAKS FOR THE ENVIRONMENT Water resources are under increasing pressure around the world, as populations grow and climate change impacts water supplies. Household leaks are a surprisingly large part of the problem. % Toilets Leaking Average Leaking Toilet
Slide 6: LeakBot Water Leak Prevention System
2, ONDO . N waterwise NJ Affiliate Rain LEAKBOT WATER LEAK PREVENTION SYSTEM g UNIQUE TECHNOLOGY Self install low cost sensor Detects leaks anywhere on mains water 05 | INTERIM RESULTS - PERIOD ENDING SEPTEMBER 30 2023 ft Patented end-to-end system designed to find and fix ] household water leaks. R
Slide 7: Thermi-Q technology and the Ondo name
) N waterwise SS re] | D Oo Affiliate. BRRaIN ~ —s AMBIENT AIR 2mm Iz = Ondo is Japanese for “change in temperature" / 7) LEAK FREE Our patented Thermi-Q technology is a revolutionary way of detecting micro leaks using temperature change \ WATER TEMP BACKGROUND LEAK DETECTED. Our product has a mater
Slide 8: Scalable System, Proven Results
. N waterwise NJ Affiliate Rain SCALABLE SYSTEM, PROVEN RESULTS. FOR INSURERS FOR THE PLANET FOR HOMEOWNERS PREVENTS REDUCES WATER PROTECTS HOMES INSURANCE CLAIMS CONSUMPTION AND REDUCES BILLS LeakBot can lower home Each unit installed will save on Water bills down with less water-used insurance cla
Slide 9: Homeowners Love LeakBot
HO! .ONDO MEOWNERS LOVE LEAKBOT 4.8 ON TRUSTPILOT “Excellent” 66 08 * Trustpilot “LeakBot can be trusted to save everyone huge amounts of money” “My John Lewis Home Insurance policy provides me with LeakBot (otherwise | would never have considered something like this, not knowing whether to trust it
Slide 10: Scalable, Repeatable, Focussed Strategy
. N waterwise NJ Re), | ple) Affiliate BRAIN SCALABLE, REPEATABLE, FOCUSSED STRATEGY VISION AND MISSION STRATEGIC FOCUS FLYWHEEL FOR GROWTH ——s te ia | install Units in. Homes. \ Y, \ stakeholder KO ~~ [cash positive Advocacy dealsyi ONDO UK, Scandinavia and USA World's Leader in claims prevention t
Slide 11: Rollout in Sweden
. N waterwise NJ ONDO Affiliate RRS 6 MONTHS TO SEP 30 23 ROLLOUT IN SWEDEN En app for alla vara kunder Lansf6érsGkringar - Sweden's largest non-life insurer - ‘ , : ey sign new five-year contract to support national rollout y Lansforsdkringar Signed Jul 2023 2 million Home insurance customers Shipm
Slide 12: USA Breakthrough
ENUMCLAW 6 MONTHS TO SEP 30 23 USA BREAKTHROUGH Mutual of Enumclaw MUTUAL OF ! Signed June 23 pave Launched in September 23 Customer base approx 100,000 PURE Insurance Signed August 2023 Approved by NY Regulator Will launch in NY est. end 2023 National customer base approx 100,000 | INTERIM RESULTS
Slide 13: Top US Fortune Carrier: Nationwide
TOP 10 US FORTUNE 100 CARRIER: NATIONWIDE Nationwide sign deal to offer LeakBot to customers * Signed November 2023 Nationwide * Top 10 home insurer with ~3.4m homewners insurance customers * Nationwide are Fortune 100 carrier * Smart Home Program Live in 34 states * Policy discounts when installing
Slide 14: Innovation Projects: Update
ONDO 6 MONTHS TO SEP 30 23 INNOVATION PROJECTS: UPDATE IAG All-Weather LeakBot Version e LeakBot Version _ lag New outdoor version in development in partnership with Australia’s largest insurer |AG Hardware is now in test in Syndey G4S Test in Denmark Pilot concluded successfully In talks for rollou
Slide 15: Interim Snapshot
14 ONDO. interRIMSNAPSHOT 6 MONTHS TO 30 SEPTEMBER 2023 (%G) UNIT AND CUSTOMER GROWTH Fe] REVENUE GROWTH Rovonue venue Mic Registered Customers £1.2m £12m 100,000 £im im. OVERALL REVENUE UNIT SALES 80,000 SHES AG) aD Pa 12 Montnsto March Bava 60,000 £0.6m £0.6m ON-GOING SOFTWARE, nae foo} SERVICES A
Slide 16: Income Statement
=, ONDO = = INCOME SS2 STATEMENT INTERIM RESULTS - PERIOD ENDING SEPTEMBER 30 2023 « Revenue up 24% ¢ Gross margin 25% reflecting shift in strategy to recurring revenue model ¢ Loss in HI] 22 includes non-recurring acquisition costs of £706k ¢ Loss in HI 23 is after gain on loan note restructuring o
Slide 17: Balance Sheet Items
= = BALANCE SS= SHEET ITEMS INTERIM RESULTS - PERIOD ENDING SEPTEMBER 30 2023 ¢ Managed rise in stock levels based on prepaid orders * Loan note restructured reducing cash costs 16 INTERIM RESULTS - PERIOD ENDING SEPTEMBER 30 2023 Non Current Assets Cash and equivalents Inventories Trade & other rec
Slide 18: Unit and Customer Growth
oe ONDO Registered Customers 100,000 UNIT AND CUSTOMER GROWTH 80,000 60,000 UNIT SALES 6 Months to Sep '23 vs YA 40.000 1 REGISTERED CUSTOMERS 20,000 6 Months to Sep '23 vs YA 0) AUG 21 MAR 22 SEP 22 MAR 23 SEP 23 the | INTERIM RESULTS - PERIOD ENDING SEPTEMBER 30 2023
Slide 19: Overall Revenue Growth
OVERALL REVENUE GROWTH ON-GOING SOFTWARE, SERVICES AND REPAIRS DEVICE FEES (One-off) 18 | INTERIM RESULTS - PERIOD ENDING SEPTEMBER 30 2023 Half Year Revenue £1.2m £Ilm £0.8m £0.6m £0.4m £0.2m £0m SEP 22 SERS Half Year Revenue Mix £1.2m £lm £0.8m £0.6m £0.4m £0.2m £0m SEP 22 SERS
Slide 20: Revenue: On-going Software, Services and Repairs
—o ON DO 2.3 REVENUE: S=2 ON-GOING SOFTWARE, SERVICES AND REPAIRS ANNUALISED RUN RATE Ongoing software, services and repairs £0.5m £1.5m 19 INTERIM RESULTS - PERIOD ENDING SEPTEMBER 30 2023
Slide 21: Addressable Households (Signed Contracts)
Addre =, ONDO Marketable h holds defined the total be of hi holds that ADDRESSABLE HOUSEHOLDS earls Begins siecle Gemnenrclicatciomeriencicsensttoael ° 2 (SIGNED CONTRACTS) aires me Fd HISCOX Topdanmark’ ® co MAPFRE veda SELECT S sk = — . . e Nationwide Hluinsostinee (Admiral LAUNCH STATE REST OF US
Slide 22: Environmental Results
2,ONDO ENVIRONMENTAL RESULTS SUSTAINABLE CORE Ondo holds the Green Economy Mark due to LeakBot’s ability to save Leaks Resolved prescious fresh water resources. LONDON STOCK EXCHANGE 20,000 In the last 6 months LeakBot has resolved 19,000 household leaks - saving . 2.5m litres of water a day Thats o
Slide 23: Flywheel for Growth
FLYWHEEL FOR GROWTH ONDO \ Install Units ) in Homes \ \ Stakeholder \ a A eto Be occcy, deals Y1 LEAKBOT World's Leader in claims prevention technology for home insurers STRATEGIC FOCUS Recurring fees from installed base . Reduce Bills Prevent claims, Protecting homes, reducing waste, helping the pl
Slide 24: Meet the Team
MEET THE TEAM eB 7 MARK WOOD CBE ANDY MORRISON’ STEFANIA BARBAGLIO CRAIG FOSTER KEVIN WITHINGTON Chairman Non Exective Director Non Exective Director Founder and CEO Chief Financial Officer HELEN LONSDALE JIM STRICKLAND NICK LOBBAN BRUNO ROY DR CHRIS JELLEY PHD Partnerships Director General Manager
Slide 25: Thanks for Your Attention
Ni MADEN 2: ONDO THANKS For Your Attention www.ondoplic.com Cy) @ondoPlc
Slide 26: Income Statement
17 ONDO = = INCOME 5S2 STATEMENT INTERIM RESULTS - PERIOD ENDING SEPTEMBER 30 2023 Income Statement Revenue Cost of sales Gross profit Administrative expenses Reverse acquisition expenses Operating loss Financial expense Gain on loan note liability derecognition Loss before tax Tox credit Loss for t
Slide 27: Cash Flow Statement
17 ONDO = CASH FLOW 5S2 STATEMENT INTERIM RESULTS - PERIOD ENDING SEPTEMBER 30 2023 Cash flows from operating activities Loss before income tax Adjustments: Share based payments Reverse acquisition share based payment expense Depreciation and amortisation Gain on joan note liability derecognition Fi
Slide 28: Balance Sheet Items
17 ONDO = = BALANCE SHEET 32 ITEMS INTERIM RESULTS - PERIOD ENDING SEPTEMBER 30 2023 Income Statement Revenue Cost of sales Gross profit Administrative expenses Reverse acquisition expenses Operating loss Financial expense Gain on loan note liability derecognition Loss before tax Tox credit Loss for