Ondo Insur Tech Plc · LSE:ONDO
Ondo Insur Tech — H1 FY2025 Earnings Presentation
35 slides from Ondo Insur Tech's earnings presentation, Dec 3, 2024
Slide 1: Interim Results | 6 Months to 30 Sep 2024
.ONDO RESU Ex 150 N Ts 27001 ; \ Nee J Mangement MADEIN INTERIM RESULTS | _6 MONTHS TO 30 SEP 2024 BRITAIN
Slide 2: Disclaimers
Disclaimers THIS PRESENTATION AND ITS CONTENTS ARE STRICTLY CONFIDENTIAL AND IS ONLY FOR RELEASE IN THE UNITED KINGDOM. THIS PRESENTATION IS NOT AN OFFER OR INVITATION TO BUY OR SELL SECURITIES. This presentation, and any ancillary documents relating to It, any oral presentation and any question or
Slide 3: Breakthrough InsurTech Business Interim Results
2, ONDO BREAKTHROUGH INSURTECH BUSINESS INTERIM RESULTS CRAIG FOSTER Founder and CEO KEVIN WITHINGTON CFO MARK WOOD CBE Chairman of the Board AGENDA 1.Vision, Mission and Strategy 2. Interim Results 6 months to Sep 30 2024 a.Financial and operational results b.Regional Results 3. Focus on U.S. Strat
Slide 4: Ondo at inflection point driven by USA
ONDO * Ondo at inflection point driven by USA - Product and Service proven out with U.S. Insurers leading to expansion into 18 states o Success in 4 states: est. $2m claims saved for US Insurers, +77 Net Promoter Score and 4.83 CSAT © Expanding to 18 states: Nationwide Topl0 US Insurer expands LeakB
Slide 5: Agenda
:,ONDO AGENDA | LVision, Mission and Strategy 2. Interim Results 6 months to Sep 30 2024 a.Financial and operational results b.Regional Results 3. Focus on U.S. Strategy and Results 4. Outlook 5. Working Capital Optimisation 6. Q&A
Slide 6: Our Mission and Vision
Slide 7: Ondo listed in March 2022... progress to date
ONDO LISTED IN MARCH 2022... (Gp the armehait trader 'e Ondo InsurTech PROGRESS TO DATE: i i el using Spinna 2GRESS | 9.4x || MAR 312022 4 15 5.6x ; a5 10 30 25 . 2.9x x nie 120000 20 i 190000 . . ONDO 12x o) Share Price (Pence) Registered Customers Revenue (¢m) Recurring Revenue (fm) ‘Addressable H
Slide 8: The Problem of Water Leaks for Insurers (US)
.ONDO THE PROBLEM OF WATER LEAKS FOR INSURERS Example: U.S. Home Insurers: FER E REE EES ES PRT YY Ye Claims Per year Cost of Claims Per Year 1.7M >$20BN Proportion of all Claims Av. US Claims Value 20-30% $14,000 08 Sources: * Association of British Insurers Property Claims Report + Insurance Infor
Slide 9: The Problem of Water Leaks for Insurers (UK)
.°;, ONDO THE PROBLEM OF LR I Average Claim Value £ WATER LEAKS FOR INSURERS 6,000 — Example: U.K. Home Insurers: 4,000 Increase over 4 years 2,000 i+) +84% Av. UK Claims Value (JAS 2024) 0,000 £7 9 725 Rs Soe i Rai aR 09 se 5: * Associ itish Insurers Property Claims Report’ jources: * Association o
Slide 10: Claim Prevention System
CLAIM PREVENTION SYSTEM Water Damage Prevention System ~— Seif install low cost sensor Leak alerts to home owner Integrated in-home Detects leaks anywhere on Book a leak location Engineer service of leak location mains water through the mobile app specialists Used by 20 insurers around the world to
Slide 11: Consistent Strategy, Tight Focus
CONSISTENT STRATEGY, TIGHT FOCUS ONDO Our Mission Our Vision & To become a world leader in claim @) LeakBot in every home - reducing waste and = prevention technology for home insurers 7 helping the planet bs Where To Play How To Win gz . 3 Primary B2B Customers: Home insurers al Unique, differentia
Slide 12: Agenda
:,ONDO AGENDA 1.Vision, Mission and Strategy 3. Focus on U.S. Strategy and Results 4. Outlook a 5. Working Capital Optimisation 6. Q&A 1s
Slide 13: Revenue and Customer Growth
REVENUE AND CUSTOMER GROWTH @ REGISTERED CUSTOMERS S22 REVENUE 6 MONTHS TO 30 SEP 24 120000 100000 Ue 114,000 £3.4M REGISTERED CUSTOMERS ANNUALISED 80000 REVENUE RUNRATE 1.00 60000 40000 050 Registered Customers Recurring Revenue Device Fee Revenue 0.00 Sep-22 Sep-23 Sep-24
Slide 14: Source of Growth
SOURCE OF GROWTH @) REGISTERED CUSTOMER: GROWTH 6 Months to Sep 30 24 mene? © & ¢ 60% of growth from Registered R i i, sooooe ot ene Nordics (%) (%) e US starting to have an 100000 impact ° US = 27% of Customer 80000 Growth aaa US IMPACT: ° 5% of US Customers driving = ¢ 16% of Recurring Revenues 2
Slide 15: Customer Satisfaction
Sep 30 24 IN-HOME VISIT CUSTOMER SATISFACTION Sep 30 24 ar +O = € CUSTOMER REVIEWS (5) NET PROMOTER tay SCORE 4.8 ON TRUSTPILOT KaKKKK Based on 1304 Reviews 4.7 ON APPSTORE keen Based on 706 Reviews 16 “. Ttis an ante product and: will detect leaks Before they ° cause, ae fate 7 /5.288 eviews erupt
Slide 16: UK Results
yNN lokRegistered AX 10k Addressable mx. 10K New Addressable = Customers BB Households Remaining [Jq|)_ Households 8809 PENETRATION GROSS MARGIN Period end Sep 30 24 P6 Months to 30 Sep 24 92,000 é 45,000 * UK Registered customers | -in at 45,000 +10% vs year ago a Frsurcrs +370,000 ; NEW ° UK at 49
Slide 17: Nordic Results: Denmark
N RDIC lokRegistered ZX 10k Addressable é 10k New Addressable D Customers BD Households Remaining @) Households 5 PENETRATION GROSS MARGIN Period end Sep 30 24 Period end Sep 30 24 A » Denmark q | 4 * 7% penetration of addressable households * TopDK working towards largest ever LeakBot campaigns in
Slide 18: Nordic Results
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Slide 19: Insurance Partner Results
© vs INSURANCE PARTNER RESULTS iod e1 24 a 7st 662 £5.5m 145%
Slide 20: Sustainability Results
-ONDO SUSTAINABILITY RESULTS Results to Period end Sep 30 24 ® © 2,731 132 ML Leak Location and Fix Mega Litres of Water Visits Completed Saved in 12 months GREEN ECONOMY. MARK Olympic Swimming Pools
Slide 21: Agenda
2, ONDO AGENDA 1.Vision, Mission and Strategy 2. Interim Results a.Financial and operational results b.Regional Results 3. Focus on U.S. Strategy and Results 4. Outlook 5. Working Capital Optimisation 6. Q&A
Slide 22: Focus on USA: Expanding US Operations
é FOCUS ON USA 3, ONDO We raised £4.2m back in May 2024 to support this US Growth plan. -,ONDO EXPANDING US OPERATIONS i NEXT This is what we said we would do...
Slide 23: Focus on USA: The Opportunity
@= FOCUS ON USA .:. ONDO The Opportunity: ——_ US Total Addressable Market $20bn problem for LeakBot to ~100 Target US Homeowner Insurance Companies The Plan: P 1.Prove it works in USA 2.Get a market leader to expand 1 00 3.Others follow >| f m ha 4.Establish as market leading US Cs solution S 2 1) b
Slide 24: Focus on USA: Footprint
ZL roxregisterea QA 10x addressable Ax 10K New Addressable "Customers AB Households Remaining Households 270,000 ‘ADDRESSABLE HOUSEHOLDS ~ CONTRACTED ces PARTNERS IN ACTIVE STATES BY SEP '24. 885) PENETRATION USA Footprint: INS 13,000 Period end Sep 30 24 Aes RB GROSS MARGIN AA *.... © re New US Par
Slide 25: Proven in USA
@= PROVEN IN USA © INSURANCE PARTNER RESULTS Results to Period end Sep 30 24 94% of Nationwide Members would highly recommend LeakBot to their friends and family S$2m > $0.15m "The gentleman that came was Leak Location and Fix Estimated Claims Cost to US Insurers of extr emely kind and Visits Comple
Slide 26: Agenda
., ONDO AGENDA 1.Vision, Mission and Strategy 2. Interim Results a.Financial and operational results b.Regional Results fe ay, Nebraska 3. Focus on U.S. Strategy and Results 4. Outlook 5. Working Capital Optimisation 6. Q&A
Slide 27: Partner-Led State Expansion
@= PARTNER-LED 18 STATE EXPANSION News The Plan: 1.Prove it works in the USA / Nationwide Mutual to 2. Get a Market Leader to Expand expand LeakBot into 16 3. Get Others to Follow States The service will be ava and new customer: insurance offering, Patrick Brusnahan November 12, 2024 66 ilable to bo
Slide 28: New US Partners and States
5 ° gS ° & 2PRDRDDDDDDDDDD 2DRRDDDDD DID RPRDRDDDDDDDDDD 2D2DD>D>DD>D>D>D>D>D>D. 22DDDD>D>92D>DD-D- 2222ID2D292I2D2DD» 2222222. 2DDDDDDIDDDD 2RDDDDDDDDDD- 2D>D>D>D>D>D>D>DD>DD. +1,000,000 NEW HOUSEHOLDS IN CONTRACTED PARTNERS IN NEW STATES é® 10k Registered &é& 10k Addressable p al Customers ‘Ondo I
Slide 29: Outlook: Focus on USA
OUTLOOK: FOCUS ON USA ONDO Small post-fundraise investments in social media and marketing is driving U.S. brand awareness and intererst in LeakBot among Top 10 US. Insurers ONDO POST VIEWS ON LINKEDIN state Farm 12168 Liberty Mutual 8378 Travelers 7551 Allstate 7408 one oF tancest mnsonaes ==> USAA
Slide 30: Outlook: Focus on USA
OUTLOOK: FOCUS ON USA y «..ONDO TOP 10 U.S. HOME INSURERS (EX NATIONWIDE) &® +27,000,000 TAM HOUSEHOLDS IN 18 LEAKBOT ACTIVE STATES & +39,000,000 HB =TAM HOUSEHOLDS IN REMAINING 32 STATES y DLDRADD®ADDDD LDRDDDDDDDDDDD + 38 so zo DPDDDD>D.D>D.D> DDD PDRDDDD>DDDD LDDD_DD DDD DDD 2DDDDDDD>DDDD> RDDDDD
Slide 31: Agenda
AGENDA 1.Vision, Mission and Strategy 2. Interim Results a.Financial and operational results b.Regional Results 3. Focus on U.S. Strategy and Results 4. Outlook 6. Q&A SZ)
Slide 32: Repeat Pre-Payment Model
:,ONDO Repeat Pre-Payment Model r noe O Coch Rayer @ Installed Devices @ Balance Remaining « Under Master Service Agreement (“MSA”) partners execute multiple Orders {Ok Devices ¢ Pace of rollout and size of Order RGD agreed between parties * Partner prepays 12-month fees upfront for Order 1 within 3
Slide 33: Vendor Loan Note Restructure with HomeServe
:,ONDO Vendor Loan Note Restructure with HomeServe « Loan note term extended by a year to 31 March 2030 « Repayment of principal deferred to start 31 March 2027 and then annually to 31 March 2030 13,612,088 25p 29703] 2 2 eee * Interest roll up extended for a further year to 31 March 2026 8,140,000
Slide 34: Summary
ONDO ¢ Ondo at inflection point driven by USA - Product and Service proven out with U.S. Insurers leading to expansion into 18 states © Success in 4 states: $2m claims saved for US Insurers, +77 Net Promoter Score and 4.83 CSAT © Expanding to 18 states: Nationwide Topl0 US Insurer expand LeakBot int
Slide 35: Thanks for Your Attention
ats, ONDO THANKS For Your Attention www.ondoplic.com Cy) @ondoPlc