Vista Group International Ltd · NZX:VGL
Vista Group International — Investor Day (October 2022)
98 slides from Vista Group International's investor day presentation, Oct 26, 2022
Slide 1: Market announcement: Investor Day platform strategy
For personal use only MARKET ANNOUNCEMENT 26 October 2022, Vista Group International Ltd, Auckland, New Zealand Vista Group outlines increased ambition through platform-focused strategy at Investor Day, detailing path to support the cinema of the future • The platform will deliver innovation to cine
Slide 2: For further information please contact
For personal use only For further information please contact: Kimbal Riley Group Chief Executive Vista Group International Ltd Contact: +64 9 984 4570 Matt Cawte Chief Financial Officer Vista Group International Limited Contact: +64 9 984 4570 VISTA GROUP INTERNATIONAL LTD, SHED 12, CITY WORKS DEPOT
Slide 3: Investor Day 26 October 2022
For personal use only Investor Day 26 October 2022 Vista Group International Limited Cinema of the future
Slide 4: Important notice
Important notice This presentation has been prepared by Vista Group International Limited ("Vista Group”). Information in this presentat + is provided for general information purposes only, does not purport to be complete or comprehensive, and is not an offer or invitation or subscription or purchas
Slide 5: Agenda
For personal use onl Agenda O01 Strategy Overview Kimbal Riley, Group Chief Executive Matthew Liebmann, Chief Data and Innovation o2 Industry Update . Officer Platform » Moviegoers Sarah Lewthwaite, CEO Movio * Clients Leon Newnham, CEO Vista Cinema » Technology Grant Smith, COO Vista Cinema 04 Peop
Slide 6: Strategy Overview
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Slide 7: The cinema of the future
The cinema of the future Our message today is clear... * Cinema continues to show great strength - with upside to come Our platform delivers the best experience in the industry * Client interest is strong, and our value proposition is clear Our platform enables us to significantly increase our total
Slide 8: Vista Group's purpose
all use only For person Vista Group’s purpose is to bring more oeople together to experience the magic of movies and cinema by creating the platform that connects the industry and powers the moviegoer experience
Slide 9: Vista Group Strategy
For personal use only Vista Group Strategy O' Support our clients to rebuild their business QZ Expand our core platform that delivers value to our clients and connects moviegoers OS Create and invest in new opportunities
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Slide 11: What is the platform?
What is the platform? Movio EQ * Connecting every moviegoer to their ideal movie Vista Digital * Delivering the best digital experience for moviegoers Vista Cloud * The future of cinema management
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Slide 13: Aspiration
Aspiration Where we believe we can go.... Aspiration - with 100% platform * Group ARR $NZD300m+ + Group EBITDA 25-30% * 60%+ market share * 6,000+ sites on platform Key Point We can execute on our strategy with current funding 1
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Slide 15: Fast improving industry fundamentals
ma To get there we start with some fast improving industry fundamentals ersonal use onl
Slide 16: Industry Update
For personal use only Industry Update
Slide 17: The field of play: Substitutes & complements
For personal use only The field of play: Substitutes & complements
Slide 18: Cinema straddles two worlds
Out of Home Leisure & Entertainment Cinema straddles two worlds quawuleyayug pawy!4 _ AjUO SN jeuosied 105 16
Slide 19: People love the cinema for more reasons than the movie
/ People love the cinema and for more reasons than just the movie Top live events people are most excited to attend post-COVID-19 The most important reasons people go to the movies Sporting events 79 The immersive big screen and Sound pees ;:, experience ~ Concerts i 75°, Getting out of the house I
Slide 20: Streamers are the most avid moviegoers
Streamers are the most avid moviegoers Respondents were asked how often they saw a movie in theatres over the past month AUUS adults 10 17% 20 54% Uses PVOD 27% 22 22% Doesn't use PVOD 15% 19 59% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 5+ video streaming subscriptions 3-4 video streaming subscri
Slide 21: Studios believe cinema drives downstream revenue
i The studios believe that cinema drives downstream revenue “Theatrical still has the greatest impact. That sort of theatrical release, 45 days later to streaming, that’s working beautifully. The bigger the hit in theatres, the greater the impact in streaming. The path to monetization now is greater
Slide 22: Two $200m movies
Two $200m movies: the major difference is MIR IVERGE IF MANIESS MAY 6 Budget Streaming Release Streaming Minutes Worldwide Box Office Budget Streaming Release Streaming Minutes Worldwide Box Office
Slide 23: Streamers sending movies to cinemas for exclusive windows
Streamers are sending movies to the cinemas for exclusive windows ‘Magic Mike's Last Dance’ Marvel’s Don Cheadle Netflix reaches historic Skipping HBO Max, Series ‘Armor Wars’ To Be agreement with global Going Theatrical Turned Into Feature Film exhibitors for ‘Knives Out 2’
Slide 24: A 45-day window has marginal impact on box office
A 45-day window has marginal impact on box office 96% in 45 days 96% in 45 days 91% in 45 days OHO FHOEN JTKER 98% in 45 days 96% in 45 days 89% in 45 days 95% in 45 days 99% in 45 days
Slide 25: Cinema remains affordable and resistant to downturns
Cinema remains affordable and resistant to downturns 70 On average, a person must work 26 minutes to buy a movie ticket AT at the average price in their home country. 5 Cinema has traditionally 47 nth NRO 18 ven Oe fared well during ° tougher times: Q.3 US box office grew during three of the last fo
Slide 26: The score: Structure & performance
The score: Structure & performance
Slide 27: Cinema is back and audiences are returning fast
Cinema is back and audiences are returning fast
Slide 28: Recent domestic box office records
Recent domestic box office records 2 of the Top 5 highest grossing movies of all time released post-Omicron + Spider-Man: No Way Home - US$814m (No. 3) * Top Gun: Maverick - US$714m+ (No. 5) Since Omicron, the domestic industry broke 4 additional calendar-based records . July 4th weekend Minions: Th
Slide 29: Food & Beverage average spend is up
Food & Beverage average spend is up, boosting exhibition profitability amc $7.52 QI ‘22 (+35%) vs $5.58 Q1’19 in US +21.5% vs Q1 ‘19 internationally $5.80 '21 vs $4.27 ‘20 LEMAR All-time high US result of $6.90 in Q2 ‘22 CINEPLEX $8.82 QI ‘22 vs $7.93 in Q1 ‘21 hi MARCUS. +3.7% H1 ‘22 vs H1’21 HE +2
Slide 30: When movies abound, box office rebounds
When movies abound, box office rebounds... a a PP & @& D> fh fh & gh b PP HPP PPM PD HM GD DP MD WD YM DM es — 2 & Ros cs we oe Ss Ss we we SSS SF oe sw $1,400,000,000 % change on same month in 2019 40 20 | 0° er! > er Sara ; & oy iy vo Monthly Domestic Box Office: 2019-22 wy se Source: Box Office M
Slide 31: As Spidey and Maverick demonstrate
..as Spidey and Maverick demonstrate 5/5/21 6/5/21 7/5/21 8/5/21 9/5/21 10/5/21 11/5/21 12/5/21 1/5/22 2/5/22 3/5/22 4/5/22 5/5, ——lInfrequents s==Occasional s==—=Frequent s=—=Very Frequent Percentage of returned moviegoers by frequency 29
Slide 32: Right now there is an overall movie shortage
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Slide 33: Gran Turismo
For personal use only Gran Turismo
Slide 34: Projected Global Box Office CAGR of 2.4% (2019-2025)
For personal use only Projected Global Box Office CAGR of 2.4% (2019-2025) 50,000 45,000 40,000 35,000 2015 Source: Omdia 2016 2017 mAmericas - LATAM BAPAC - India 30,000 U LU 25,000 20,000 Hi 15,000 10,000 |_| 5,000 ms 0 2018 2019 Americas - North America MEMEA - Eastern Europe 2020 2021 2022(f) 20
Slide 35: Projected Direct Box Office CAGR of 1.8% (2019-2025)
For personal use only Projected Direct (exci india and chinay Box Office CAGR of 1.8% (2019-2025) 50,000 45,000 40,000 35,000 30,000 25,000 Source: Omdia 2015 2016 2017 2018 Americas - LATAM ™MEMEA - Eastern Europe 20,000 15,000 10,000 |_| || 5,000 = 0 2019 2020 2021 2022(/f) Americas - North Americ
Slide 36: Strong financial performance drives site and screen growth
i Strong financial performance drives site and screen growth 27,000 26,500 26,000 25,500 25,000 24,500 24,000 23,500 23,000 22,500 Source: Omdia ie wl ———— 2016 2017 2018 2019 2020 2021 2022 2023 2024 ME Sites Screens 130,000 125,000 120,000 110,000 105,000 34
Slide 37: The Cinema of the Future
The Cinema of the Future
Slide 38: Cinema Experience = Premises + Content + Service
Cinema Experience = Premises + Content + Service
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For personal use only
Slide 40: The moviegoer journey
For personal use only The moviegoer journey 38
Slide 41: The moviegoer journey
: The moviegoer journey For personal use only
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Slide 43: Platform - Moviegoers
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Slide 44: Moviegoers have changed
Moviegoers have changed... Moviegoer purchasing habits have changed * Pre-pandemic digital = 30% * Post-pandemic digital = 60% and rising A diverse slate improves industry performance * 35% of audiences in 3Q22 returned to see non- blockbuster movies * Connecting moviegoers to their ideal movie has
Slide 45: The needs of cinemas have changed
. and so have the needs of How do they take the guesswork out of targeting? ci nemas How do they drive attendance and spend? Add Movies ~~ aN Mrs. Harris _ 5 Coes to g ™™ Lae Pe a = © oD) @ S © ‘= s) D SS © a. — S LL + Create Model
Slide 46: Vista Digital and Movio Cinema
cD CURZON CURZON We're ready Ds (o [== one RAINDANCE FILM FESTIVAL 100) Vista Digital (_.. ) MOVIO CINEMA [ae ae Meet dae = = EEal 190,200 121,493 90,487 s221m a = © oD) @ S © ‘= s) M — © a. — O Le FASTER. SIMPLER. SMARTER.
Slide 47: For personal use only
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Slide 48: Moviegoers are at the centre of the strategy
Moviegoers are at ‘e the centre of the o strategy iD) ) =) @ < (S) 1) — iD) (oF — © LL, Better moviegoer experience Driving more attendance More Increased transactional digital data transactions Greater variable revenue As we improve the moviegoer experience, we increase both our relevance and value
Slide 49: Platform - Clients
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Slide 50: Who our clients are and where we operate
For personal use only a. Who are our clients b. Where we operate a. 110 countries c. Market share
Slide 51: Our clients
Our clients ODEON REGAL EVENT clu em AS Ww Sie = Cinemex VILLAGE CINEMAS a = © oD) @ S © ‘= s) D SS © a. — S LL cineworld CINEPLEX
Slide 52: Platform Value Drivers
= = fe) o) a) =) @ S is) a SS ® 2. — s) LL Platform Value Drivers Constrained labour Greater stability of digital channels Addressing demand for digital self-service Developing a deeper understanding of moviegoers Cybersecurity concerns Removal of costs and distraction
Slide 53: Transfer of Responsibility
Transfer of Responsibility On premises S 5 MOVIO wista Platform Vista Cloud =O >, = aw Vista maintenance fees Movio fees Server Hardware Server Maintenance Cybersecurity and compliance Implementing Vista Upgrades Performance and reliability Network maintenance Database licensing fees Database mainte
Slide 54: Share of Wallet, Unlocking Value
Share of Wallet, Unlocking Value On premises S 5 MOVIO wista Platform Vista Cloud =O > , = WW Perpetual License Fixed annual maintenance POS base, Movio and other additional modules a la carte ry SaaS Fee 3-5+ times maintenance Fees vary by up to 80% based on performance Expansive core offered in tw
Slide 55: Transition to platform
Tra nsition to Adoption of our stable, extensible Cloud platform, in two flavours i. Cloud Digital & Movio EQ - fast track to unlock moviegoer value, platform, when, e.g. modernising Digital channels ii. Cloud Cinema (aka Full Suite) - ‘Cloudifies’ entire estate, e.g. removes need for cinema server
Slide 56: Platform - Technology
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Slide 57: Maturing our technology stack
For personal use only Maturing our technology stack will generate operating leverage, drive demand, unlock new opportunities 55
Slide 58: Years of breadth and depth in our products
25 years of breadth and depth in our products Estimated 1B tickets are handled every year 3.2B connections, and 40M active moviegoers We have homologation in 35 countries ysonal use only De [
Slide 59: From trusted products, to trusted platform
= = fe) o) a) =) @ S is) a SS ® 2. — s) LL From trusted products, to trusted platform Boxomee 611.78 $225,266.37 Concestons atte Average ticket price Spend per admit $115,391.31 25,782 $8.74 $6.03 - We've approached the Cloud technology journey progressively * We still maintain a single code-base ac
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Slide 61: People
People Ajuo esn_peugsied 103
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Slide 63: Financials
Al = fe) OD) —) Financials @ = © iY) i ® 2, i (S) LL,
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Slide 65: The business model
The business model Transition will drive... > > Revenue Growth Operating leverage Liquidity and balance sheet + Adoption curve x price per * Scale delivered No funding needed to site + growth opportunities sequentially, drives EBITDA achieve the market (market size, share, and FCF transition expansi
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Slide 67: Operating leverage
Operating leverage Sales and Marketing, and General and Administration organisation in place at end 2022 for the full transition Capitalised Development ‘bump’ $25m-$30m over 2023/24/25 Extra spend over two-three years Then tracks back to ‘new’ normal of $15m/yr Cost to Serve run rate higher in 2023
Slide 68: Today / 100% Platform
For personal use only Today 100% Platform
Slide 69: Strong balance sheet/liquidity
Strong balance sheet/liquidity Cash Capital Allocation Expected Cash Burn 2023/2024 We do not require any cash Short term capex, rolls off from $25 m to execute on our strategic early 2025 th pl grownn plans FCF for growth or dividends Improved receivables from 2025 management
Slide 70: Aspiration summary
Aspiration summary ... to inflection point and beyond. Sites Market share Platform multiple of maintenance Group ARR Group EBITDA margin Previously a December 100% indicated/ 2025 Platform reported 5,100 1,600-2,400 6,000+ (on premises) (platform, rest (platform) on premises) 51% - 60%+ 1.5-2.5 - 3-
Slide 71: Summary
Al = fe) OD) —) Summary @ = © iY) i ® 2, i (S) LL,
Slide 72: For personal use only
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Slide 73: Questions
Al = fe) OD) —) Questions @ = © iY) i ® 2, i (S) LL,
Slide 74: For personal use only
‘Gae Ajuo osn feuosied JO[
Slide 75: Press release: platform-focused strategy at Investor Day
For personal use only For immediate release Vista Group outlines increased ambition through platform-focused strategy at Investor Day, detailing path to support the cinema of the future • The platform will deliver innovation to cinema clients and align revenue with their success • Very positive clie
Slide 76: For media queries contact
For media queries contact: Kate Ford +64 28 4300 866 Kate.ford@vista.co For personal use only VISTA GROUP INTERNATIONAL LTD, SHED 12, CITY WORKS DEPOT, 90 WELLESLEY STREET, AUCKLAND 1010, NZ2
Slide 77: Jarden Future Leader Conference October 2022
For personal use only Jarden Future Leader Confer 26 October 2022 Limited
Slide 78: Important notice
Important notice This presentation has been prepared by Vista Group International Limited ("Vista Group”). Information in this presentat + is provided for general information purposes only, does not purport to be complete or comprehensive, and is not an offer or invitation or subscription or purchas
Slide 79: Agenda
.. Agenda For personal use onl O01 Strategy Overview Kimbal Riley, Group Chief Executive 02 Industry Update vee Liebmann, Chief Data and Innovation 03 Platform Kimbal Riley, Group Chief Executive 04 Summary Kimbal Riley, Group Chief Executive
Slide 80: Strategy Overview
Al = fe) OD) —) Strategy Overview @ = © iY) i ® 2, i (S) LL,
Slide 81: Vista Group's purpose
all use only For person Vista Group’s purpose is to bring more oeople together to experience the magic of movies and cinema by creating the platform that connects the industry and powers the moviegoer experience
Slide 82: Vista Group Strategy
For personal use only Vista Group Strategy O' Support our clients to rebuild their business QZ Expand our core platform that delivers value to our clients and connects moviegoers OS Create and invest in new opportunities
Slide 83: Industry Update
Al = fe) OD) —) Industry Update @ = © iY) i ® 2, i (S) LL,
Slide 84: Recent domestic box office records
Recent domestic box office records 2 of the Top 5 highest grossing movies of all time released post-Omicron + Spider-Man: No Way Home - US$814m (No. 3) * Top Gun: Maverick - US$714m+ (No. 5) Since Omicron, the domestic industry broke 4 additional calendar-based records . July 4th weekend Minions: Th
Slide 85: Studios believe cinema drives downstream revenue
i The studios believe that cinema drives downstream revenue “Theatrical still has the greatest impact. That sort of theatrical release, 45 days later to streaming, that’s working beautifully. The bigger the hit in theatres, the greater the impact in streaming. The path to monetization now is greater
Slide 86: When movies abound, box office rebounds
When movies abound, box office rebounds... a a PP & @& D> fh fh & gh b PP HPP PPM PD HM GD DP MD WD YM DM es — 2 & Ros cs we oe Ss Ss we we SSS SF oe sw $1,400,000,000 % change on same month in 2019 40 20 | 0° er! > er Sara ; & oy iy vo Monthly Domestic Box Office: 2019-22 wy se Source: Box Office M
Slide 87: Right now there is an overall movie shortage
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Slide 88: Gran Turismo
For personal use only Gran Turismo
Slide 89: Projected Global Box Office CAGR of 2.4% (2019-2025)
For personal use only Projected Global Box Office CAGR of 2.4% (2019-2025) 50,000 45,000 40,000 35,000 2015 Source: Omdia 2016 2017 mAmericas - LATAM BAPAC - India 30,000 U LU 25,000 20,000 Hi 15,000 10,000 |_| 5,000 ms 0 2018 2019 Americas - North America MEMEA - Eastern Europe 2020 2021 2022(f) 20
Slide 90: Cinema Experience = Premises + Content + Service
Cinema Experience = Premises + Content + Service
Slide 91: Platform
Al = fe) OD) —) Platform @ = © iY) i ® 2, i (S) LL,
Slide 92: For personal use only
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Slide 93: Platform Value Drivers
= = fe) o) a) =) @ S is) a SS ® 2. — s) LL Platform Value Drivers Constrained labour Greater stability of digital channels Addressing demand for digital self-service Developing a deeper understanding of moviegoers Cybersecurity concerns Removal of costs and distraction
Slide 94: Share of Wallet, Unlocking Value
Share of Wallet, Unlocking Value On premises S 5 MOVIO wista Platform Vista Cloud =O > , = WW Perpetual License Fixed annual maintenance POS base, Movio and other additional modules a la carte ry SaaS Fee 3-5+ times maintenance Fees vary by up to 80% based on performance Expansive core offered in tw
Slide 95: Aspiration summary
Aspiration summary ... to inflection point and beyond. Sites Market share Platform multiple of maintenance Group ARR Group EBITDA margin Previously a December 100% indicated/ 2025 Platform reported 5,100 1,600-2,400 6,000+ (on premises) (platform, rest (platform) on premises) 51% - 60%+ 1.5-2.5 - 3-
Slide 96: Summary
Al = fe) OD) —) Summary @ = © iY) i ® 2, i (S) LL,
Slide 97: For personal use only
For personal use only • • • • • ✅ ✅ ✅ ✅ ✅
Slide 98: For personal use only
‘Gae Ajuo osn feuosied JO[
Vista Group International — Investor Day (October 2022) on 6ix