Slide 1: Half year results
Half year results For the six months ended 31 August 2021 3 November 2021 Y trainline
Slide 2: Disclaimer
Disclaimer This presentation (the “Presentation”) has been prepared by Trainline ple (the “Company” and, together with its subsidiaries, the “Group”). For the purposes of this notice, “Presentation” means this document, its contents or any part of it, any oral presentation, any question or answer se
Slide 3: Agenda
Agenda 1. Aleading role in industry recovery Jody Ford, CEO 2. Financial performance Shaun McCabe, CFO 3. Progress against strategic priorities Jody Ford, CEO 4. Accelerating growth in International Jody Ford, CEO MY trainline
Slide 4: Strong recovery in H1
Strong recovery in H1 Trainline taking a leading role in industry recovery Accelerated market shift to online and digital Driving significant increase in new customer acquisition and engagement Growing frequency that customers transact with us * Strong recovery in net ticket sales and a return to pr
Slide 5: Best in class B2C rail travel companion
Best in class B2C rail travel companion a ° Oo ek @ 00 ood Friction-free * 4.9 star rated mobile app + SplitSave * Allthe carriers * etickets + Récup’ Retard (delay repay) * Allthe fares * Real time delay notifications * Digital railcards * All the real time information + Automated refunds / changes
Slide 6: All underpinned by our single global tech platform
All underpinned by our single global tech platform Deep inventory Customer-centric Personalised, data- Reliable, scalable, connections ecommerce driven products secure QO© '# | e@e 60 tm * >270 carriers Simple “1 click” UX ~3TB data processed 400+ tech/product daily engineers Real-time data Multi ca
Slide 7: Key proposals from Williams-Shapps white paper
Key proposals from Williams- Shapps white paper Creation of GBR as governing body Creation of GBR as a ticket retailer Development of ‘pay as you go’ retail model Commitment to digital ticketing Department FZ] Williams for Transport =A Rail Review Great British Railways The Williams-Shapps Plan for
Slide 8: Agenda
Agenda 1. Aleading role in industry recovery Jody Ford, CEO 2. Financial performance Shaun McCabe, CFO 3. Progress against strategic priorities Jody Ford, CEO 4. Accelerating growth in International Jody Ford, CEO MY trainline
Slide 9: Recovery led by International domestic and UK Consumer
Recovery led by International domestic and UK Consumer ea lata tinea . Net ticket sales % of same period in FY2020 Net ticket sales % of same period in FY2020 105% 95% 75% - Qi FY2022 Q2 FY2022 Qi FY2022 Q2 FY2022 International top 4 domestic markets returned to overall growth in Q2 + UK Consumer re
Slide 10: Significant recovery in sales, revenue and gross profit
Significant recovery in sales, revenue and gross profit Net ticket sales (£m) 358 23. 218 Gross profit (£m) 181% 62% of +181% 61 FY2020 YoY 22 52 5 14 HY2021 HY2022 HY2021 HY2022 mUK Consumer gm Trainline Partner Solutions = International HY2021 HY2022 F trainline
Slide 11: Return to profitability in H1
Return to profitability in H1 Direct and central costs (£m) 47 38 - H1 FY2021 H1 FY2022 H1 FY2021 H1 FY2022 Adjusted EBITDA (£m) 15 & Marketing @ People @ Other mUK = International @ Central costs F trainline 10
Slide 12: Net debt reduction driven by working capital inflow
Net debt reduction driven by working capital inflow Net debt movements (£m) 241 16 | a (15) 7 169 a ——s (73) (6) A . . Working capital Finance, lease and End FY2021 Adj. EBITDA Capital expenditure inflow treasury share costs Other End H1 FY2022 F trainline "
Slide 13: Reinstating guidance for full year FY2022
Reinstating guidance for full year FY2022 Net ticket sales: Adj. EBITDA: in the range of £35-40 million in the range of £2.4-2.8 billion F trainline 12
Slide 14: Agenda
Agenda 1. Aleading role in industry recovery Jody Ford, CEO 2. Financial performance Shaun McCabe, CFO 3. Progress against strategic priorities Jody Ford, CEO 4. Accelerating growth in International Jody Ford, CEO MY trainline
Slide 15: Strategic priorities for growth
Strategic priorities for growth im 0 oe on kk ean = kk Enhance customer Increase customer Build demand Grow Trainline experience lifetime value Partner Solutions F trainline 4
Slide 16: 40% eticket penetration
40% eticket penetration etickets as % of total UK industry sales doubled in last 18 months
Slide 17: Enhance customer experience
Enhance customer experience Investing in our new commuter experience Favourites + C.£4 billion UK Commuter market; historically underserved with digital options @ Letchworth Garden City <7 & Farringdon + New features to meet needs of the new commuter: Arrive: 10:00 Now - ‘Save your Commute’ with two
Slide 18: Build demand
Build demand Highest ever customer acquisition and engagement at pre-COVID levels Customer acquisition at record levels Customer engagement has returned New app customers (Group) Monthly active users (MAUs) Pre-COVID. Feb-20 Aug-20 Feb-21 Aug-21 Feb-20 Aug-20 Feb-21 Aug-21 BUK = International F trai
Slide 19: Integrating Trainline into Google Maps
Build demand Integrating Trainline into Google Maps * Making train travel even more accessible, seamless and intuitive * Android users click through Google Maps to our app to buy rail tickets * Complements Trainline’s other Android features: - Google Pay — a seamless experience when paying for ticke
Slide 20: Increase customer lifetime value
Increase customer lifetime value Growing relevance for more of our customers’ travel needs Increased frequency + Increased short distance leisure travel in UK, plus Number of customers that transact 2+ times a month (UK Consumer): commuter travel growing more recently + Step up in regional travel sa
Slide 21: Scaling digital railcards
Increase customer lifetime value Scaling digital railcards Big opportunity: - 6million railcards in use in UK - >40% of Trainline’s transactions use a railcard - “far easier to use, far harder to forget” Strong uptake from customers so far: - >250,000 digital railcard sales in H1 Now launched digita
Slide 22: Business travel remains subdued but first signs of recovery
Business travel remains subdued but first signs of recovery Continued focus on positioning our partners for future growth Global Distribution and Business Solutions: - 22 B2B customers now signed to Global API, including Flight Centre in H1 Carrier IT Solutions: - Renewed contracts with five white l
Slide 23: Agenda
Agenda 1. Aleading role in industry recovery Jody Ford, CEO 2. Financial performance Shaun McCabe, CFO 3. Progress against strategic priorities Jody Ford, CEO 4. Accelerating growth in International Jody Ford, CEO MY trainline
Slide 24: Significant headroom in Europe with modal shift tailwinds
Significant headroom in Europe with modal shift tailwinds Significant high speed rail investment to drive modal shift? EU Commission High speed passenger target al UK EU 2020 2030 4. OC&C analysis for calendar year 2017; 2. European Commission’s ‘Sustainable and Smart Mobility Strategy’, December 20
Slide 25: Carriers from France, Italy and Spain competing in each other's markets
Carriers from France, Italy and Spain competing in each other’s markets Italy Spain . France NTV Italo launched in 2012 SNCF discussing plans for Ouigo to enter in future NTV Italo ~30% of high speed rail market Quigo and Avlo launched on Madrid-Barcelona route; more routes planned next year Ilsa du
Slide 26: Marketplace of choice in Europe
Marketplace of choice in Europe Oo 6oO Aggregating all carriers, fares and journey options in one place F trainline Best in class, 4.9-star mobile app Simple to use interface and search functionality Seamless booking experience, including multiple carrier journeys Real-time, on-the-go travel informa
Slide 27: Italy — Intense carrier competition on long distance journeys
Italy — Intense carrier competition on long distance journeys . . A Strong growth in net ticket Positive customer Liberalised domestic market acquisition momentum Domestic net ticket sales in Italy New app customers vs Pre-COVID va -o— DS Renita | ‘GRUPPO FERROVIE DELLO STATO ITALIANE Pre-COVID leve
Slide 28: Madrid to Barcelona — A test case for new entrants in Spanish market
Madrid to Barcelona — A test case for new entrants in Spanish market Emerging carrier ee aan —s— O « a * Busiest domestic airline route in Europe? * High speed rail a better alternative 1 'Busiest Flights 2020’ report by travel data provider OAG renfe dvlo ‘GRUPPO FERROVIE DELLO STATO ITALIANE + New
Slide 29: Increasing investment in International from H2 onwards
Increasing investment in International from H2 onwards KKK kk Enhancing customer experience Building demand * Hiring c.150 more people to accelerate product innovation and integrate new entrant carriers * Meeting specific local market needs and filling any product gaps Increasing customer acquisitio
Slide 30: Key takeaways
Key takeaways * Leading role in industry recovery and accelerated shift to online and digital While GBR uncertainty remains we continue to deliver against our strategic priorities * Strong increase in customer acquisition, engagement and transaction frequency * Long term tailwinds including rail mar
Slide 31: Q&A