Trade Window Holdings Ltd. · NZX:TWL
Trade Window — Non-Deal Roadshow (November 2025)
33 slides from Trade Window's roadshow presentation, November 2025
Slide 1: Investor Presentation
Investor Presentation November 2025 COMMERCIAL IN CONFIDENCE This presentation contains confidential and proprietary information and is intended solely for the internal use of the recipient to whom this presentation is addressed. It may not be reproduced, distributed or published in whole or in part
Slide 2: Important notices and disclaimers
Important notices and disclaimers Disclaimer Non-GAAP financial information: Certain financial measures included in this presentation are non-GAAP The following notice and disclaimer applies to this investor presentation and you must read this carefully before reading financial information. Non-GAAP
Slide 3: Contents
Contents Introduction to TradeWindow Page 4 Investment highlights Page 8 Financial summary Page 22 Appendix Page 28 COMMERCIAL IN CONFIDENCE Investor Presentation 3
Slide 4: Introduction to TradeWindow
Positioned to win Introduction to TradeWindow Overview Key metrics • Founded in 2018, TradeWindow is an NZX-listed software company providing mission critical software for exporters, importers, freight forwarders and customs brokers $8.8m >29% ~94% September 25 ARR ARR CAGR since FY23 Re-occurring r
Slide 5: Strong financial performance
Strong financial performance Strong organic revenue growth and guiding for EBITDA breakeven in FY27 Trading Revenue2 • Delivered an organic revenue CAGR of 27%1 since FY22 • Delivered trading revenue of $8 million for the financial year ended 31 March 2025, up 30% on the prior year • Trading revenue
Slide 6: History of TradeWindow
Positioned History oftoTradeWindow win DECEMBER JANUARY FEBRUARY JUNE MARCH MARCH Incorporation of Commence commercial Expanded into Admitted into the Pan Revenues of $3.9 Revenues of $6.2 operations Australia Asian E-Commerce million for FY22 million Trade Window Alliance Limited Minimum Viable Pro
Slide 7: Intention to list on the ASX
Positioned Intention to to win list on the ASX • TradeWindow (NZX: TWL) is pleased to announce its intention to pursue a secondary listing on the Australian Securities Exchange (ASX) as a Foreign Exempt Listing • The Board believes that an ASX listing is a natural progression for the company, reflec
Slide 8: Investment highlights
Investment highlights COMMERCIAL IN CONFIDENCE
Slide 9: Investment highlights
Positioned Investmentto highlights win 1 Huge addressable market with multiple dynamics driving growth 2 Scalable platform assisting global trade operators 3 AI solutions disrupting incumbents and transforming global trade 4 Trusted by over 500 exporters and freight forwarders across various industr
Slide 10: Huge addressable market with multiple dynamics driving growth
1 Huge addressable market with multiple dynamics driving growth Large and growing addressable market Increasing complexity associated with international trade is Target Customers – Mid-Market Shippers driving demand for trade and logistics software and Freight Forwarders 8,000 US$59B TOTAL ADDRESSAB
Slide 11: Huge addressable market with multiple dynamics driving growth
1 Huge addressable market with multiple dynamics driving growth Market exposed to multiple factors which continue to drive change and fuel growth E-Commerce Expansion Digital Transformation Supply Chain Resilience Consumers are switching their buying Artificial intelligence (AI) can eliminate Ongoin
Slide 12: Scalable platform assisting global trade operators
2 Scalable platform assisting global trade operators Seamless connectivity for exporters, importers and freight forwarders Exporters’ Bank Correspondent Bank Importers’ Bank Invoicing Platform Pre-Shipment Exporter Forwarder Inspector Export Port Carrier Import Port Importer Insurer Customs Customs
Slide 13: Scalable platform assisting global trade operators
2 Scalable platform assisting global trade operators Simple revenue model charging customers based on a combination of modules, number of users and per transaction Shippers Freight Forwarders Transaction fees are calculated per set of shipping documents created Monthly subscription fees charged per
Slide 14: AI solutions disrupting incumbents and transforming global trade
3 AI solutions disrupting incumbents and transforming global trade TradeWindow’s product, Freight.AI challenging incumbents SHIPPER FOCUSED SOLUTIONS FORWARDER FOCUSED SOLUTIONS TradeWindow is uniquely positioned to leap ahead of competitors constrained by technology debt or capability gaps by offer
Slide 15: AI solutions disrupting incumbents and transforming global trade
3 AI solutions disrupting incumbents and transforming global trade AI powered workflows elevate the role of the human operator to focus on high impact activities AI POWERED WORKFLOWS CUSTOMER BENEFITS Shipment coordination Reduce overheads Auto-scheduling, pickups, carrier Scale with efficiently, el
Slide 16: Trusted by over 500 global trade operators across various industries
4 Trusted by over 500 global trade operators across various industries A selection of customers which include some of Australasia’s most prolific shippers and freight forwarders Shippers Freight Forwarders (Importers/Exporters) Note, logos don’t necessarily correspond to top customers. COMMERCIAL IN
Slide 17: Trusted by over 500 global trade operators across various industries
4 Trusted by over 500 global trade operators across various industries Consistent revenue growth driven by material contributions from Australia and the freight forwarder segment Revenue by Country Revenue by Customer Segment 9.0 9.0 Millions Millions 8.0 8.0 7.0 7.0 6.0 6.0 5.0 5.0 4.0 4.0 3.0 3.0
Slide 18: Revenue diversity with low concentration risk and customer churn
5 Revenue diversity with low concentration risk and customer churn Trading revenues highly predictable with 94% re-occurring Installation Service revenue revenue Transactional revenue • TradeWindow generates transactional revenue each time a customer either creates or shares a set of trade documents
Slide 19: Revenue diversity with low concentration risk and customer churn
5 Revenue diversity with low concentration risk and customer churn High quality, diverse and predictable recurring revenues 5.6% 13% 13.4% Customer Customer 5.9% retention1 concentration1 87%2 75.1% Retained customers Top Customer Customers 2-5 Ceased customers Customers 6-10 Other Notes: 1) Charts
Slide 20: Clearly defined and executable growth strategy
6 Clearly defined and executable growth strategy Growth from product and international expansion • Broaden usage of TradeWindow software through cross-sell and up-sell Increase spend from existing initiatives customers • Expand features and functionality to increase solution stickiness and value • I
Slide 21: Highly experienced and motivated management team
7OurHighly experienced product and priorities development motivated management team Experienced and aligned management team ready to deliver growth strategy AJ Smith Kerry Friend Deidre Campbell Andrew Balgarnie Dewald Janse van Rensburg Executive Director & Chief Executive Director Chief Financial
Slide 22: Financials
Financials COMMERCIAL IN CONFIDENCE
Slide 23: Consistent revenue growth and a clear pathway to profitability
8 Consistent revenue growth and a clear pathway to profitability Growing recurring revenue base, expanding margins, and heading towards profitability Annual Recurring Revenue1 Gross margin Cashflow from Operations $8.7 29% 61% -$1.5 CAGR $6.3 54% $5.2 -$5.8 46% -$10.8 FY23 FY24 FY25 FY23 FY24 FY25 F
Slide 24: Consistent revenue growth and a clear pathway to profitability
8 Consistent revenue growth and a clear pathway to profitability Increasing ARPC across customer segments with resilient retention and steady customer growth ARPC1 (Shippers) ARPC1 (Freight Forwarders) Customers/Retention Rate $914 93% 93% 24% 87% 27% $2,066 CAGR CAGR 554 $1,707 $638 $595 513 $1,289
Slide 25: Consistent revenue growth and a clear pathway to profitability
8 Consistent revenue growth and a clear pathway to profitability Strong Australian demand and partnerships turned Australia into the fastest-growing region New Zealand revenue Australian revenue Rest of world $377 $3,073 21% $334 CAGR $4,623 35% CAGR $3,974 $3,152 $1,828 $1,675 $93 FY23 FY24 FY25 FY
Slide 26: FY26 Outlook
8 FY26 Outlook Targeting EBITDA breakeven • Well positioned to help the business navigate the increasing complexity of trading goods internationally • Shippers and freight forwarders have pent up demand to automate repetitive manual processes using AI • We continue to expect FY26 revenue to range be
Slide 27: TradeWindow: strong foundations, global progress
TradeWindow: strong foundations, global progress Market opportunity Opportunity for TradeWindow • US$59B1 TAM for supply chain management software globally - • Organic growth through capturing market share in Australasia The opportunity estimated to grow at a CAGR of 10.5% p.a. • Future opportunity
Slide 28: Appendix
Appendix COMMERCIAL IN CONFIDENCE
Slide 29: Glossary
Glossary Annualised Recurring Revenue (ARR) Customs Broker Shipper The recurring revenue for a specified month annualised. A Customs Broker is a licenced individual who acts as A Shipper is an exporter or importer who requires an intermediary for Shippers and Freight Forwarders in carriers to transp
Slide 30: Our board of directors
Our board of directors Alasdair MacLeod Phil Norman AJ Smith Kerry Friend Independent Chair Independent Director Executive Director Executive Director and Chief Executive Alasdair joined the board in October Phil joined the board in October 2021 and was appointed Chair at 2021. Officer that time. Fo
Slide 31: Projected financials – key assumptions
Projected financials – key assumptions Forward-looking financial information is inherently subject to judgement, risks and uncertainty, including from events beyond Trade Window’s control. Key assumptions which may have a material risk to our projections include: SPECIFIC GENERAL • The rate and timi
Slide 32: Top ten shareholders
Top ten shareholders # Shareholder % Holding 1 ASB Bank 19.23% • As at 30 October 2025 TradeWindow has 139,618,909 shares on issue held by 522 shareholders . 2 Quayside Holdings 11.03% • The shareholder number is higher when ‘looking through’ the broker nominee accounts. The Sharesies nominee accoun
Slide 33: Thank you
Thank you TradeWindow Contact Andrew Balgarnie Chief Strategy Officer TradeWindow +64 275 594 133 andrew@tradewindow.io COMMERCIAL IN CONFIDENCE