Slide 1: Full year results
Full year results For the twelve months ended 28 February 2021 Y trainline 6 May 2021
Slide 2: Disclaimer
Disclaimer This presentation (the “Presentation”) has been prepared by Trainline ple (the “Company” and, together with its subsidiaries, the “Group”). For the purposes of this notice, “Presentation” means this document, its contents or any part of it, any oral presentation, any question or answer se
Slide 3: Agenda
Agenda 1. Initial thoughts and recap Jody Ford, CEO 2. Financial performance Shaun McCabe, CFO 3. Progress against strategic priorities Jody Ford, CEO 4. Q&A MY trainline
Slide 4: Initial thoughts and areas of focus as new CEO
Initial thoughts and areas of focus as new CEO * Purpose-driven business with long term structural tailwinds and a pioneering, customer-centric culture * Strong relationships with government and industry — engaging to support wider recovery in rail * Refreshed strategy — increased focus on new and e
Slide 5: Our purpose
Our purpose f° Empowering people to make greener travel choices Our aim To make rail and coach travel easier
Slide 6: Significant value-add for customers and industry partners
Significant value-add for customers and industry partners Consumer Proposition O16 Allcarriers ES in one app e ee Best value c = Easy, personal RS consistent, friction-free Y trainline Lower cost Carrier Proposition e@e Global distribution eo aA a More revenue m © Lower cost —z_ toserve F trainline
Slide 7: FY2021 - a year of COVID
FY2021-—a year of COVID * Significant impact across our markets from COVID-19 on passenger volumes * Mitigated impact by reducing monthly cash burn to £5 million; increased liquidity to £260 million * Maintained investment in product and tech roadmap; well placed to lead shift to online and mobile *
Slide 8: Long-term structural tailwinds
Long-term structural tailwinds Large and expanding market | | + c€225bn global market! ——— + UK: £48bninfrastructure investment planned before 2024; EU: £176bninfrastructure investment planned before 2030 9 Greater environmental awareness of different modes of travel + Domestic flight ban in France
Slide 9: Agenda
Agenda 1. Initial thoughts and recap Jody Ford, CEO 2. Financial performance Shaun McCabe, CFO 3. Progress against strategic priorities Jody Ford, CEO 4. Q&A MY trainline
Slide 10: Significant impact on sales, revenue and gross profit from COVID
Significant impact on sales, revenue and gross profit from COVID Net ticket sales (£m) Revenue (£m) Gross profit (£m) 201 40 178 144 783 67 49 12 3 44 34 FY2020 FY2021 FY2020 FY2021 FY2020 FY2021 mUK Consumer mTrainline Partner Solutions = International F trainline °
Slide 11: Positive signs of recovery in UK
Positive signs of recovery in UK Trainline Cc mer vs wider Restrictions temporarily lifted ket (% of Pre-COVID level: UK's 39 lockdown, Apr ara Q2 —— UK Consumer Q3 ——— Wider UK market a4 Qr22 * Trainline’s recovery outpaced the market when lockdowns eased in FY’21 * Reflects accelerated shift to on
Slide 12: Mitigated COVID impact while enhancing capacity for investment
Mitigated COVID impact while enhancing capacity for investment * Paused marketing, discretionary spend Reduced cash burn c.£5 million * Pay freeze, Board/ Exec team salary cuts 1 + Fully repaid UK CJRS furlough funding ED AMS CNEIS 9 EE * £150 million convertible bond issuance £260 million Increased
Slide 13: Strong operational cost management lessened impact on earnings
Strong operational cost management lessened impact on earnings Direct and central costs (£m) 116 Adjusted EBITDA (£m) 85 (25) FY2020 FY2021 FY2020 FY2021 ™ Marketing = People ™ Other mUK = International m= Central costs F trainline 2
Slide 14: Net debt increase primarily driven by working capital swing
Net debt increase primarily driven by working capital swing Net debt movements (£m) 15 9 241 95 —kx=”" 26 25 6 . Capital Working capital — Finance, lease and End FY 2020 = Adj. EBITDA loss expenditure outflow treasury share costs Other End FY 2021 F trainline 6
Slide 15: Agenda
Agenda 1. Initial thoughts and recap Jody Ford, CEO 2. Financial performance Shaun McCabe, CFO 3. Progress against strategic priorities Jody Ford, CEO 4. Q&A MY trainline
Slide 16: Strategic priorities for growth
Strategic priorities for growth KKK xk Grow Trainline Partner Solutions Enhance customer Build demand : Optimise revenues experience F trainline 1‘
Slide 17: Enhance customer experience: growth in etickets
Enhance customer experience Driving continued growth in etickets * UK Industry eticket penetration increased to 30% * Trainline represents c.70% industry eticket sales! * Further headroom - eticket availability increased to c.75% 1. Trainline UK Consumer; 2. Internal estimates based on Company and i
Slide 18: Enhance customer experience: easier, better value rail travel
Enhance customer experience Making rail travel easier and better value for customers Best new features 16-25 In-app railcards — far easier to use and far harder to forget —s| 12) You've requested a refund should take no more than 1 day to approve vour refund. We'll emall you once i's done. Mon 26 Ap
Slide 19: Enhance customer experience: serving the new commuter
Enhance customer experience Serving the needs of the new commuter * COVID has changed the way we work and travel * Opportunity: UK Commuters historically underserved with digital ticket options * Priming our digital commuter experience: - ‘Select your Commute’ with easy rebook options - Data and Al-
Slide 20: Becoming the marketplace of choice for rail travel in Europe
Becoming the marketplace of choice for rail travel in Europe * EU rail market liberalisation becoming a reality: - New carriers Avlo and Ouigo in Spain integrated into our platform Ly yon | Milan * Leveraging platform to improve app and web NEviiais ~30% of high speed rail market + Adapting product
Slide 21: Build demand: acquiring new customers as lockdowns ease
Build demand Acquiring new customers as lockdowns ease UK new app customers vs Pre-COVID! Pre-COVID level + Leading indicator of recovery momentum + UK new app customers rebounding once again as government lockdowns ease 80% pre- |_| COVID level + Trainline’s marketing engine significantly more effi
Slide 22: Build demand: playbook for recovery
Build demand Playbook for recovery Real-time ticket alerts e —_ os 6 tretrainine com Cy P trainline ‘Signin Ticket Alert Sign up for a Ticket Alert below for updates on the availability of Advance train tickets for your journey. Trainine customers save 61% on ‘average when they book in advance vs An
Slide 23: Grow Trainline Partner Solutions
Grow Trainline Partner Solutions Growing Trainline Partner Solutions Global Distribution and Business Solutions: Further momentum in our “Global API” distribution platform - 19 B2B customers now signed, +16 since Feb’ 2020 - Added Norwegian rail into our inventory Carrier IT Solutions: Supporting wh
Slide 24: Key takeaways
Key takeaways + A purpose-driven business with long term structural tailwinds * Refreshed strategy — increased focus on new and emerging growth opportunities: - Driving recovery in rail through new product releases and our efficient marketing playbook - Serving the needs of the new commuter in the U
Slide 25: Q&A
Q&A Y trainline