Bailador Technology Investments Ltd · ASX:BTI
Bailador Technology Investments — Shareholder Meeting (October 2025)
36 slides from Bailador Technology Investments's shareholder meeting presentation, Oct 16, 2025
Slide 1: Annual General Meeting
For personal use only Annual General Meeting Thursday, 16 October 2025 Bailador Technology Investments Limited | ASX: BTI
Slide 2: Presented by David Kirk
For personal use only Presented by David Kirk Bailador Co-Founder & Managing Partner 2
Slide 3: The Bailador Board
The Bailador Board David Kirk Andrew Bullock Executive Chairman Non-Executive Director For personal use only • Appointed 2014 • Appointed 2014 • Re-elected November 2023 • Chair of Audit and Risk Committee • Re-election this AGM (Resolution 2) Paul Wilson Jolanta Masojada Executive Director Non-Exec
Slide 4: Access to high-growth expansion-stage technology companies
For personal use only Bailador provides investors with access to high-growth expansion-stage technology companies at attractive valuations. 4
Slide 5: Our business model is designed to generate premium returns
Our business model is designed to generate premium returns For personal use only Investing Growing Realising ・ $41m deployed in FY25 ・ Private portfolio FY25 IRR 33% ・ $20m realised in FY25 ・ $38m total gain on investments in FY25 Driving shareholder returns 5
Slide 6: Investing in new portfolio companies
Investing Growing Realising Investing in new portfolio companies For personal use only $12.5m invested Feb-25 $7.7m invested Aug-24 Property Investment Fitness Studio Management Fast growth across Australia, Spain, Ireland Bailador increased carrying value by $3.9m and Indonesia (50%) in Jun-2025 6
Slide 7: Investing in on-going growth
Investing Growing Realising Investing in on-going growth For personal use only DASH → $15m follow-on investment ($10m equity, $5m debt) → Valuation increased 49% in FY25 (59% on equity component) In FY25 Bailador invested $20.6m in existing portfolio Rosterfy → $3m follow-on investment companies to
Slide 8: Growth in Bailador's private investments is strong
Investing Growing Realising Growth in Bailador’s private investments is strong For personal use only $592m 47% ~65% ~87% portfolio company portfolio company gross margin2 recurring revenue2 revenue1 revenue growth2 Note: 1Based on unaudited revenue over the 12 months to 30 June 2025 for the underlyi
Slide 9: Realising cash
Investing Growing Realising Realising cash Bailador realised $45m For personal use only in the last 12 months 14 CASH REALISATIONS FY25 FY26 FROM INCEPTION SiteMinder SiteMinder 3.2x 23.2% $20m realised at 37.9% IRR $25m realised at 36.9% IRR AVERAGE MOIC AVERAGE IRR Bailador’s track record of reali
Slide 10: Performance highlights for 2025
Driving shareholder returns Performance highlights for 2025 3.6c per share 8.1% 28.3c per share For personal use only Final Dividend Declared1 Grossed-Up Dividend yield2 Cash Dividends over last 3 years3 (FY24; 3.4c) (FY24; 7.8%) $1.64 per share 7.8% 33% Post-tax NTA4 Portfolio Return5 Private Portf
Slide 11: Summary profit and loss
Driving shareholder returns Summary profit and loss FY25 FY24 $000 $000 Strong performance across For personal use only Change in value of portfolio assets 38,175 36,194 private investment portfolio Interest income 1,478 4,353 Total investment growth 39,653 40,547 1.75% management fee Management fee
Slide 12: Summary Financial Position
Driving shareholder returns Summary Financial Position FY25 FY24 Movement $000 $000 ($41m) invested, $20m realised ($8m) dividends, ($13m) FY24 income tax For personal use only Cash 14,922 61,957 (47,035) and perf fee Marketable securities 64,327 89,504 (25,177) $20m partial realisation of SiteMinde
Slide 13: Commitment to ESG principles
Commitment to ESG principles • Bailador has a long-term sustainability framework and goals • Bailador is measuring, managing and mitigating carbon emissions we are directly responsible for For personal use only Scope 1 Emissions Scope 2 Emissions Scope 3 Emissions 0 (Zero) 4.15 tonnes of CO2e 2.02 t
Slide 14: Presented by Paul Wilson
For personal use only Presented by Paul Wilson Bailador Co-Founder & Managing Partner 14
Slide 15: The BTI portfolio composition
The BTI portfolio consists of Private companies, Companies BTI has listed and held, & Cash For personal use only Public $77m ~$291 million Private $192m 15
Slide 16: Private portfolio delivered 33% gross return in FY25
Bailador’s private portfolio delivered 33% gross return in FY25 FY25 Private Portfolio movements For personal use only ↑ $14.7m ↑ 49% ↑ $17.2m ↑ 86% ↑ $5.5m ↑ 21% ↑ $1.7m ↑ 14% ↑ $3.9m ↑ 50% ↑ $2.5m ↑ 33% - - - New Investment - - ($2.7m) (63%) FY25 Public Portfolio movements ($4.4m) (5%) ($0.8m) (19
Slide 17: SiteMinder
World leader in hotel channel management and distribution solutions for online accommodation bookings SiteMinder’s share price has increased 63%1 For personal use only since Jun-25 • ASX listed global hybrid SaaS business with very strong unit economics • Manages 130 million+ reservations • New Smar
Slide 18: DASH
Financial advice and investment management software platform used by independent financial advisors and financial institutions For personal use only 59% equity uplift since investing in Jun-24 • Serves the $1tn investment platform market • Acquired IPS in FY25 • Led by experienced executive team • $
Slide 19: Updoc
Digital healthcare platform connecting consumers who need medical services with registered health practitioners via a telehealth offering $20m invested in May-24 For personal use only - 86% valuation uplift in FY25 • Exceptional high-quality revenue growth • Offers one-off fee or subscription model
Slide 20: Rosterfy
Volunteer management software platform that connects communities to events and causes they are passionate about For personal use only $4.4m total gains on investment • Addressing market of 2m+ charities globally • Solving need for charities to recruit, train and retain volunteers • Currently 3m+ use
Slide 21: PropHero
AI-enabled property investment platform that helps individuals source, purchase, and manage investment properties For personal use only $12.5m invested in Feb-25 • Globally addressable market • Compelling consumer proposition • Established revenue scale • Attractive growth economics • Very rapid rev
Slide 22: Hapana
End-to-end software platform focused on the fitness and wellness sector For personal use only Valuation up 50% since Aug-24 investment • Addressing market of 200,000+ gyms and fitness studios • Already operating in 17 countries • Bailador invested $7.7m alongside OIF Ventures • Carrying value increa
Slide 23: Access to high-growth expansion-stage technology companies
For personal use only Bailador provides investors with access to high-growth expansion-stage technology companies at attractive valuations. 23
Slide 24: Appendix
Appendix For personal use only Page 25 Bailador Co-Founder profiles Page 26 Portfolio company profiles Page 30 Recent Results Page 31 Disclaimer 24
Slide 25: Bailador Co-Founder profiles
Bailador Co-Founder profiles For personal use only David Kirk Paul Wilson Co-Founder & Managing Partner Co-Founder & Managing Partner • Former CEO of Fairfax Media (led the acquisition of • Former Director of CHAMP Private Equity, and Trade Me and Stayz.com) previously MetLife (London and New York)
Slide 26: Portfolio company profiles
Portfolio company profiles SiteMinder DASH Updoc For personal use only Travel & Accommodation Wealth Management Digital Healthcare Sector ✓ Large addressable market ~1m hotels worldwide ✓ Operates in the massive investment platform ✓ Large and growing market with attractive thematic market that admi
Slide 27: Portfolio company profiles
Portfolio company profiles Access Telehealth Expedition Software Rosterfy For personal use only Digital Healthcare Travel & Experiences Volunteer Management Sector ✓ COVID-19 has moved telehealth into the ✓ International travel operating above pre- ✓ Large market with over 2m charitable thematic mai
Slide 28: Portfolio company profiles
Portfolio company profiles PropHero MOSH Hapana For personal use only Property Investment Digital Healthcare Fitness Studio Management Sector ✓ Large addressable market with millions of annual ✓ Emerging market with huge potential ✓ Large addressable market with over 200,000 thematic property transa
Slide 29: Portfolio company profiles
Portfolio company profiles Straker Nosto For personal use only Language Translation E-commerce Sector ✓ Increasing demand from enterprises for platform ✓ Large and growing e-commerce sector thematic capable of facilitating full suite of translation ✓ Increasing demand for personalised, authentic nee
Slide 30: Recent results
Recent results For personal use only Annual Report 2025 FY25 Results Release Released 14 August 2025 Released 14 August 2025 September 2025 Shareholder Update Valuation uplifts June 2025 Released 10 October 2025 Released 26 June 2025 Subscribe for Bailador updates www.bailador.com.au/investor-relati
Slide 31: Disclaimer
Disclaimer This presentation is confidential and may not be reproduced in whole or in part, or distributed except by Bailador Technology Investments Ltd For personal use only (“Bailador”) or by authorised representatives of Bailador (“Affiliates”). This presentation does not contain a complete descr
Slide 32: For personal use only
For personal use only www.bailador.com.au investorservices@bailador.com.au +61 2 9223 2344 Bailador Technology Investments Limited | ASX: BTI
Slide 33: ASX Release: Chair's Address by David Kirk
ASX Release Thursday, 16 October 2025 Bailador Technology Investments Limited AGM 2025 Chair’s Address by David Kirk Page 4 - Bailador provides investors with access to high-growth expansion-stage technology companies at attractive valuations I will now say a few words about performance in 2025. For
Slide 34: Chair's Address: Investing in on-going growth
Page 7 - Investing in on-going growth In FY25 Bailador also completed $20.6m in follow-on investments to support the growth of existing portfolio companies. You will note all three had valuation increases in FY25. Page 8 - Growth in Bailador’s private investments is strong The portfolio is in a very
Slide 35: Chair's Address: Summary financial position
Page 12 - Summary financial position The balance sheet is strong. Financial assets, that is the value of our private portfolio companies have grown strongly to $193m. Cash has declined as we have made investments as discussed earlier, and paid dividends. Our deferred tax liability has continued to g
Slide 36: Further information
Further information This announcement was approved for release on 16 October 2025 by Helen Foley, Company Secretary. About Bailador Bailador is a growth capital fund focused on the information technology sector, actively managed by an experienced team with demonstrated sector experience. For more in
Bailador Technology Investments — Shareholder Meeting (October 2025) on 6ix