Slide 1: A Diverse Fintech & Agri-Fintech Group Making a Difference
A Diverse Fintech & Agri - Fintech Group Making a Difference Delivering Financial Inclusion and Food Security August 10, 2023 NASDAQ: TIO Q2 2023 Financial Results Conference Call
Slide 2: Forward Looking Statements
2 Second Quarter 2023 Financial Results Conference Call Forward Looking Statements Cautionary Note Regarding Forward - Looking Statements Certain statements made herein contain, and certain oral statements made by representatives of Tingo Group, Inc . (“Tingo Group”) and its affiliates, from time to
Slide 3: Agenda
3 Second Quarter 2023 Financial Results Conference Call Agenda • Introduction and Recent Developments • Product Timelines, Updates and Partnerships • Financial Results • Closing Summary and Q&A Darren Mercer Dozy Mmobuosi Kevin Chen Group CEO Tingo Mobile & Tingo Foods Founder Group CFO • Founded Ti
Slide 4: Corporate Overview
4 Second Quarter 2023 Financial Results Conference Call Corporate Overview MICT acquired 100% Tingo Foods PLC 4 , before subsequently changing name from MICT, Inc. (MICT) to Tingo Group, Inc. (TIO) Timeline (1) Pro Forma Financial Information is estimated based on unaudited management accounts (3) S
Slide 5: Our Mission
5 Second Quarter 2023 Financial Results Conference Call Our Mission Make a difference improving global food supply and tackling the world’s food security crisis; by delivering farmer empowerment, improved crop yields, reduced spoilage and better access to markets. Agri - Fintech Mission Group Missio
Slide 6: Acquisition and Recent Developments
6 Second Quarter 2023 Financial Results Conference Call Acquisition and Recent Developments • November 30 , 2022 – Completed the acquisition of 100 % of Tingo Mobile, following : (i) the completion of extensive due diligence by world class advisors : including Big 4 accounting firm, No . 1 U . S . l
Slide 7: Agri Fintech Growth Strategy
7 Second Quarter 2023 Financial Results Conference Call Agri Fintech Growth Strategy Replicating our Proven Model - Tingo Mobile and NWASSA Marketplace >12.0M 6.0M ~30.0M Tingo Mobile active customers at June 30, 2023 Mobile Phones Ordered for distribution to new customers in H2 2023 Expected number
Slide 8: Tingo Foods – Food Processing Business
8 Second Quarter 2023 Financial Results Conference Call Tingo Foods – Food Processing Business Aims to be the largest food and beverage processing facility in Africa • Generated more than $ 983 . 7 million of revenue in the first 5 months since acquisition in February 2023 • Delivered operating prof
Slide 9: Tingo DMCC - Agri Commodity Platform
9 Second Quarter 2023 Financial Results Conference Call Tingo DMCC - Agri Commodity Platform In Partnership with the Dubai Multi Commodities Centre (DMCC) A global commodity platform and export business – completing the seed to sale eco - system • Commenced first exports transactions on May 30 , 202
Slide 10: Prime Commodity Exchange & AFAN
10 Second Quarter 2023 Financial Results Conference Call Prime Commodity Exchange & AFAN Produce Supply, Warehousing and Commodity Exchange Agreement • E xclusive use of AFAN’s existing network of 2 , 322 warehouses for a minimum term of 30 years • Right of first refusal to purchase or trade all pro
Slide 11: TingoPay SuperApp and Visa Partnership
11 Second Quarter 2023 Financial Results Conference Call TingoPay SuperApp and Visa Partnership • Testing and further development of beta version of TingoPay is continuing, with addition of new functions . Full launch scheduled for third quarter of 2023 . • Tingo Mobile and TingoPay in Pan - Africa
Slide 12: Ecosystem: Financial & Digital Inclusion
12 Second Quarter 2023 Financial Results Conference Call Financial & Digital Inclusion Increase Food Supply and Reduce Post Harvest Losses Social Upliftment Ecosystem Mobile Handsets with Embedded Software & Platforms Marketplace for inputs and produce Valued - Added Services and Payment Services Pr
Slide 13: Environmental, Social & Governance
13 Second Quarter 2023 Financial Results Conference Call Environmental, Social & Governance • Fostering digital and financial inclusion through technology platforms – driving the social and economic upliftment of customers • Meaningfully improving global food supply and tackling the world’s food sec
Slide 14: Financial Results Highlights
14 Second Quarter 2023 Financial Results Conference Call Financial Results Highlights • Net revenues for the second quarter of 2023 were $ 977 . 2 million, compared to $ 12 . 0 million for the second quarter of 2022 . The increase of 8 , 072 % , was mainly attributed to the acquisitions of Tingo Mob
Slide 15: Financial Highlights Income Statement
15 Second Quarter 2023 Financial Results Conference Call Financial Highlights Income Statement 1 See EBITDA reconciliation in the attached Appendix . EBITDA i s considered a non - GAAP measure of financial performance . Six Months Ended June 30, Three Months Ended June 30, $ in Millions 2023 2022 20
Slide 16: Financial Highlights – EBITDA Reconciliation
16 Second Quarter 2023 Financial Results Conference Call Financial Highlights – EBITDA Reconciliation Six Months Ended June 30 Three Months Ended June 30 $ in Millions 2023 2022 2023 2022 GAAP Operating Income / (Loss) $442.4 $(23.7) $181.7 $(13.8) Other income (0.4) 0.8 (0.8) 0.7 Depreciation and a
Slide 17: Cash Utilization
17 Second Quarter 2023 Financial Results Conference Call Cash Utilization Quarter ended $ in Millions June 30, 2023 Upfront payment of $434.2 million on the purchase of 6 million handsets for new AFAN customers $434.2 Prepayment to AFAN for produce for Tingo Foods and settlement of their brought for
Slide 18: Balance Sheet Highlights
18 Second Quarter 2023 Financial Results Conference Call Balance Sheet Highlights As of $ in Millions June 30, 2023 Dec 31, 2022 Cash and cash equivalents $53.2 $500.3 Total current assets 582.2 531.2 Total assets 1,685.2 1,682.4 Total current liabilities 290.5 265.4 Total long - term liabilities 31
Slide 19: Income Statement
19 Second Quarter 2023 Financial Results Conference Call Income Statement For the six months ended June 30, For the three months ended June 30, 2023 2022 2023 2022 Revenues $ 1,828,414 $ 21,521 $ 977,169 $ 11,958 Cost of revenues 1,095,544 18,183 631,153 9,885 Gross profit 732,870 3,338 346,016 2,07
Slide 20: Uniquely Positioned
20 Second Quarter 2023 Financial Results Conference Call Uniquely Positioned • Nasdaq - listed fast - growth and highly profitable company (H 1 2023 revenues of $ 1 , 828 . 4 M and EBITDA 1 of $ 655 . 3 M) • Strong balance sheet and cash generation from operations • Announced commencement of quarter
Slide 21: Contact and Q&A
www.tingogroup.com Company 201 - 225 - 0190 info@tingogroup.com Investor Relations Chris Tyson/Larry Holub 949 - 491 - 8235 TIO@mzgroup.us A Global Fintech & Agri - Fintech Group Making a Difference Delivering Financial Inclusion and Food Security NASDAQ: TIO Q&A