Slide 1: Q3 2023 Financial Results Conference Call
A Diverse Fintech & Agri - Fintech Group Making a Difference Delivering Financial Inclusion and Food Security August 10, 2023 NASDAQ: TIO Q3 2023 Financial Results Conference Call
Slide 2: Forward Looking Statements
2 Third 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 Third Quarter 2023 Financial Results Conference Call Agenda • Introduction and Recent Developments • Product Timelines, Updates and Partnerships • Financial Results • Closing Summary and Q&A Dozy Mmobuosi Kenneth Denos Tingo Mobile & Tingo Foods Founder and Group Co CEO Group Co CEO • Founded Ting
Slide 4: Corporate Overview
4 Third Quarter 2023 Financial Results Conference Call Corporate Overview MICT acquired 100% Tingo Foods PLC 3 , before subsequently changing name from MICT, Inc. (MICT) to Tingo Group, Inc. (TIO) Timeline (1) See EBITDA reconciliation on page 16. EBITDA i s considered a non - GAAP measure of financ
Slide 5: Our Mission
5 Third 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 Mission
Slide 6: Acquisition & Recent Developments
6 Third Quarter 2023 Financial Results Conference Call Acquisition & Recent Developments • November 30 , 2022 – Completed the acquisition of 100 % of Tingo Mobile, following the completion of extensive due diligence by world class advisors : including Big 4 accounting firm, No . 1 U . S . law firm i
Slide 7: Agri Fintech Growth Strategy
7 Third Quarter 2023 Financial Results Conference Call Agri Fintech Growth Strategy Replicating our Proven Model - Tingo Mobile and NWASSA Marketplace ~30.0M 6.0M >12.5M Expected number of Tingo Mobile customers within next 6 months Mobile Phones Ordered for distribution to new customers in Q4 2023
Slide 8: Tingo Foods – Food Processing Business
8 Third Quarter 2023 Financial Results Conference Call Tingo Foods – Food Processing Business Constructing what is believed to be the largest food processing facility in Africa A key part of the Tingo Group eco - system from Seed to Sale Creating significant demand and offtake for Tingo Mobile’s Far
Slide 9: Tingo DMCC - Agri Commodity Platform
9 Third 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 , 2023
Slide 10: Prime Commodity Exchange & AFAN
10 Third 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 prod
Slide 11: TingoPay SuperApp and Visa Partnership
11 Third Quarter 2023 Financial Results Conference Call TingoPay SuperApp and Visa Partnership • Full version of TingoPay launched on Android and iOS on September 13 , 2023 • New features in development for future versions • Through Pan - Africa partnership with VISA, TingoPay designed to accelerate
Slide 12: Financial & Digital Inclusion Ecosystem
12 Third 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 Pro
Slide 13: Environmental, Social & Governance
13 Third 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 secu
Slide 14: Financial Results Highlights
14 Third Quarter 2023 Financial Results Conference Call Financial Results Highlights • Net revenues for the three and nine months ended September 30 , 2023 , were $ 586 million and $ 2 . 414 billion respectively, compared to $ 13 . 7 million and $ 35 . 3 million for the three and nine months ended S
Slide 15: Financial Highlights Income Statement
15 Third 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 . Three Months Ended September 30, Nine Months Ended September 30, 2022 2023 2022 2
Slide 16: Financial Highlights – EBITDA Reconciliation
16 Third Quarter 2023 Financial Results Conference Call Financial Highlights – EBITDA Reconciliation Three Months Ended September 30 Nine Months Ended September 30 2022 2023 2022 2023 $ in Millions (7.7) 20.7 (30.7) 294.0 Net profit (loss) attributable to Tingo Group, Inc. Adjusted for: (0.5) (0.5)
Slide 17: Cash Utilization
17 Third Quarter 2023 Financial Results Conference Call Cash Utilization The Company utilized its substantial cash balances to invest heavily in the growth of the business of Tingo Mobile, Tingo Foods and Tingo DMCC 9 Months September 30, 2023 $ in Millions $711.7 Upfront payments of $711.68 million
Slide 18: Balance Sheet Highlights
18 Third Quarter 2023 Financial Results Conference Call Balance Sheet Highlights As of December 31, 2022 September 30, 2023 $ in Millions $500.3 $53.4 Cash and cash equivalents 531.2 622.1 Total current assets 1,682.3 1,929.2 Total assets 265.4 457.8 Total current liabilities 90.9 317.0 Total long -
Slide 19: Income Statement
19 Third Quarter 2023 Financial Results Conference Call Income Statement
Slide 20: Uniquely Positioned
20 Third Quarter 2023 Financial Results Conference Call Uniquely Positioned • Nasdaq - listed profitable company (In 9 Months to Sep 2023 , generated revenues of $ 2 . 41 B and EBITDA 1 of $ 777 . 9 M) • Strong balance sheet and cash generation from operations • Commitment to pay dividends – awaitin
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