Slide 1: Q3 2023 Results Presentation
Q3 2023 Results Presentation For the nine months to 30 September 2023 www.pensionbee.com 1
Slide 2: Agenda
Agenda 1 Overview of Q3 2023 2 Financial Update 3 Conclusion 4 Appendix www.pensionbee.com 2
Slide 3: Overview of Q3 2023
1 Overview of Q3 2023 www.pensionbee.com 3
Slide 4: A Leading Online Pension Provider in the UK: Solving Genuine Problems for Consumers
A Leading Online Pension Provider in the UK: Solving Genuine Problems for Consumers Award-winning offering Trustpilot 4.6 out of 5 - Excellent(1) www.pensionbee.com (1) Trustpilot score of 4.6★ out of 5 (based on 9,663 reviews) recorded 13 October 2023. 4
Slide 5: Significant Continued Growth in Q3 2023
Significant Continued Growth in Q3 2023 Growth in Invested Customers Translates into Increasing AUA Base Driving Revenue Growth (Invested Customers, 000s) (AUA, £m) (LTM Revenue, £m) +28% +40% +32% LTM Revenue to 30 September 2023 was £22m, Excellent momentum in customer growth, adding c.40k AUA inc
Slide 6: Achievements against our Strategic Goals (1/2)
Achievements against our Strategic Goals (1/2) 1● Efficient investment in customer acquisition and brand CPIC continues to decline(1) awareness - £9m marketing expenditure year to date has maintained brand awareness and driven new customer growth. - Focus on reaching millions of consumers through ef
Slide 7: Achievements against our Strategic Goals (2/2)
Achievements against our Strategic Goals (2/2) ●3 Continued investment in and development of an Invested Customers per Staff Excellent Customer Service industry leading technology platform Member(1) Reflected in Metrics - Consistent focus on automation to support productivity, including streamlining
Slide 8: Financial Update
2 Financial Update www.pensionbee.com 8
Slide 9: £900m AUA Growth Driven by New and Existing Customers
£900m AUA Growth Driven by New and Existing Customers AUA Growth Underpinned by New and Existing Cohorts Strong Net Flows Year to date(1) (AUA, £bn) (Net Flows, £m) c.£3.9bn 3,902 +692 Quality of AUA YoY 3,718 Across the portfolio as of 30 Sep 2023 +40% Total Invested Customers: 223k +5% impact on t
Slide 10: High Retention Rates Compound AUA and Drive Revenue
High Retention Rates Compound AUA and Drive Revenue High Customer and AUA Retention Rates Compound AUA … … and Drive Recurring Revenue (AUA Breakdown into Net Flow Cohorts and Market Impact, £m) (LTM to September Revenue (1), £m) Retention Statistics 3,902 Cumulative Market Impact +32% Customer Rete
Slide 11: Scalable Cost Base Creates Strong Position for YE Profitability
Scalable Cost Base Creates Strong Position for YE Profitability Revenue … … Coupled with Scalable Cost Base … … Creates Strong Position for YE Profitability (9 months to September Revenue, £m) (9 months to September Cost Base, £m) (9 months to September Adj. EBITDA, £m) (16)% +33% Adj. EBITDA profit
Slide 12: Expectations of Long Term Growth and Profitability
Expectations of Long Term Growth and Profitability Objective Guidance Long Term Illustration ● Aim to deliver sustained high annual Revenue growth. ● Continue appealing to the mass market, acquiring more new customers and growing customers’ pension balances. Revenue ● Our ambition is to pursue a c.2
Slide 13: Conclusion
3 Conclusion www.pensionbee.com 13
Slide 14: Key Investment Highlights
Key Investment Highlights 1 UK’s Leading Online Pension Provider: Solving Genuine Problems for Consumers 2 Mass Market Opportunity presented by £1 trillion DC Pensions Market underpinned by Structural Growth Drivers 3 Household Brand Name Status supports Effective, Data-led Marketing Strategy to Acq
Slide 15: Further Updates
Further Updates ● Year-end trading update on Thursday 25 January 2024 ● Full-year results on Thursday 14 March 2024 ● Publication of Annual Report on Thursday 11 April 2024 www.pensionbee.com 15
Slide 16: Q3 2023 Highlights
Q3 2023 Highlights KPIs As at Period End Sep-2022 Sep-2023 YoY AUA (£m) 2,788 3,902 40% AUA Retention Rate (% of AUA) >95% >95% Stable Invested Customers ('000) 174 223 28% Customer Retention Rate (% of IC) >95% >95% Stable Cost per Invested Customer (£) 253 244 (4)% Realised Revenue Margin (% of AU
Slide 17: Appendix
4 Appendix www.pensionbee.com 17
Slide 18: 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 19: Scalable Technology Platform generates Operating Leverage
Scalable Technology Platform generates Operating Leverage Over the 9-month Period Ending YoY KPI & Financials (Q3 2022 to Drivers Sep-2022 Sep-2023 Q3 2023) Drivers of AUA and embedded growth include (i) efficient customer acquisition driven by strong brand of Assets under Administration £2,788m £3,
Slide 20: Glossary
Glossary Annual Run Rate (ARR) Revenue Annual Run Rate (ARR) Revenue is calculated using the Recurring Revenue for the relevant month multiplied by 12. Assets under Assets under Administration (AUA) is the total invested value of pension assets within PensionBee Invested Customers’ pensions. It meas
Slide 21: 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.