Slide 1: Q2 2024 Results Presentation
Q2 2024 Results Presentation For the period ended 30 June 2024 www.pensionbee.com
Slide 2: Agenda
Agenda 1 Strategic Update 2 Financial Update 3 Appendix www.pensionbee.com 2
Slide 3: Strategic Update
1 Strategic Update www.pensionbee.com 3
Slide 4: Q2 2024 Summary: Creating a Global Leader in the Consumer Retirement Market
Q2 2024 Summary: Creating a Global Leader in the Consumer Retirement Market United Kingdom ● PensionBee achieved significant growth, with Assets under Administration of £5.2 billion (40% YOY growth), Annual Run Rate 1 Revenue of £32m (39% YOY growth) and 252,000 Invested Customers (19% YOY growth).
Slide 5: Leading Online Pension Provider in the UK: Continuing our Rapid Growth
Leading Online Pension Provider in the UK: Continuing our Rapid Growth While Providing an Excellent Service Award-winning offering Trustpilot 4.7 out of 5 - Excellent(1) £5.2bn Assets under Administration 252k Invested Customers £32m Annual Run Rate >95% Customer Retention June 2024 June 2024 Revenu
Slide 6: Household Brand and Data-Led Marketing Strategy Enables Efficient Growth
Household Brand and Data-Led Marketing Strategy Enables PensionBee to Continue Growing Efficiently Cumulative Marketing Spend of £61 million Increasing Net Flows per £1 of Marketing Cumulative CPIC has Supported PensionBee’s Household Expenditure(2) Continues to Decline(3) Brand Name(1) +20% (5)% (2
Slide 7: Technology Platform Enables Personalised Customer Service, Product Innovation and Operating Leverage
Technology Platform Enables Personalised Customer Service, Product Innovation and Operating Leverage Excellent, Personalised Customer Service Product Innovation Enables Engagement Invested Customers / FTE Continue to Continues to Differentiate PensionBee and Encourages Contributions Rise Owing to Sc
Slide 8: US Update
US Update 1● PensionBee announced the launch of its US business (PensionBee Inc.) in partnership with our long-standing asset management provider, State Street Global Advisors (State Street). The US Defined Contribution pension market represents approximately 80% of the global total and $22.5tr in a
Slide 9: Financial Update
2 Financial Update www.pensionbee.com 9
Slide 10: Strong Growth in YTD AUA of >£0.8bn
Strong Growth in YTD AUA of >£0.8bn Long Term Compounding AUA Reaching c.£5.2bn as of Q2 2024 Strong Net Flows from New and Existing Customers(1) & Supportive Markets Grew AUA by >£0.8bn (AUA, £bn) (Net Flows, £m) c.£5.2bn Quality of AUA Across the portfolio as of 30 Jun 2024 YoY 5,196 +40% Total In
Slide 11: Strong Retention Drives AUA & Predictable Revenue
Strong Retention Drives AUA & Predictable Revenue High Customer and AUA Retention Rates Support Compounding AUA … … and Drive Predictable Revenue (AUA Breakdown into Net Flow Cohorts and Market Impact, £m) (June Annual Run Rate Revenue(1)(2), £m) 5,196 Cumulative Market Impact +39% Retention Statist
Slide 12: Scalable Cost Base Drives Operating Leverage & Profitability
Scalable Cost Base Drives Operating Leverage & Profitability Predictable Revenue … … Coupled with a Efficient Cost Base … … Creates Strong Operating Leverage (Over the 3 month period ending Revenue, £m) (Over the 3 month period ending Cost Base, £m) (Quarterly Adj. EBITDA(1), £m, %) (8)% On track to
Slide 13: Long Term Outlook is Positive
Long Term Outlook is Positive Objective UK Guidance(1)(2) Long Term Illustration ● Aim to deliver sustained and high Revenue growth by continuing to appeal to the mass market, acquiring more new customers and growing customers’ pension balances. ● Pursue a c.2% market share of the £1.2tr(3) UK trans
Slide 14: Future Updates
Future Updates ● Interim Results 2024 on Wednesday 28 August 2024 (post-market close) ● Capital Markets Day on Tuesday 1 October 2024 (hosted in New York, London and virtually) ● Q3 2024 Trading Update on Wednesday 23 October 2024 (post-market close) www.pensionbee.com 14
Slide 15: Appendix
3 Appendix www.pensionbee.com 15
Slide 16: Key Investment Highlights
Key Investment Highlights Leading Online Enormous DC Household Brand Scalable Technology Simple, Long-Term Pension Provider: Pensions Market Name supports Platform developed Business Model Solving Genuine Underpinned by Effective, Data-led over Past Decade demonstrates Problems for Structural Growth
Slide 17: Group Financial Summary Q2 2024
Group Financial Summary Q2 2024 KPIs As at Period End Jun-2023 Jun-2024 YoY AUA (£m) 3,704 5,196 40% AUA Retention Rate (% of AUA) >95% >95% Stable Invested Customers ('000) 211 252 19% Customer Retention Rate (% of IC) >95% >95% Stable Cost per Invested Customer (£) 247 242 (2)% Revenue Margin (% o
Slide 18: Scalable Technology Platform Generates Operating Leverage
Scalable Technology Platform Generates Operating Leverage Over the 6-month Period Ending YoY KPI & Financials (Jun-23 to Drivers June 2022 June 2023 June 2024 Jun-24) Drivers of AUA and embedded growth include: (i) efficient customer acquisition driven by strong Assets under Administration £2,676m £
Slide 19: Scalability Drives Operating Leverage & Visibility on Profitability
Scalability Drives Operating Leverage & Visibility on Profitability High Retention Rate(1) (%) … … Combined with Consistent … Creates Recurring and Predictable Revenue Margin (%) … Revenue (2) (£m) +4x Cohort 2023 Recurring & Cohort 2022 Predictable Revenue … Cohort 2021 Cohort 2020 Cohort 2019 Coho
Slide 20: Illustrative Unit Economics Demonstrate Attractive Returns
Illustrative Unit Economics Demonstrate Attractive Returns ✔ Methodological data driven approach to LTV/CAC customer acquisition ✔ Attractive LTV/CAC Asset Driven Lifetime Revenue ▪ Scalable technology platform ▪ Low cost to serve customers ✔ Attractive Payback Compelling Unit Period Economics ✔ Lon
Slide 21: Glossary
Glossary Adjusted EBITDA Adjusted EBITDA is the profit or loss for the period before taxation, finance costs, depreciation, share based compensation and transaction costs. Adjusted EBITDA Margin Adjusted EBITDA Margin means Adjusted EBITDA as a percentage of Revenue for the relevant period. Annual R
Slide 22: Disclaimer
Disclaimer The information contained in this presentation has not been independently verified and no representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in it.