Slide 1: Interim results
Interim results For the six months ended 31 August 2020 5 November 2020 Y trainline
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: Introduction
1. Introduction 2. Financial performance in H1 3. Progress against strategic priorities 4. Q&A
Slide 4: Our mission: make rail and coach travel easier
Our aim: To make rail and coach travel easier For travellers and travel company partners: + Allcarriers in one app + Easy, consistent, friction free + Unique, Al driven travel info For carriers: + Global distribution, more customers + Lower cost to serve Championing a much greener way to travel F tr
Slide 5: H1 Summary
H1 Summary * Significant impact from COVID across our markets; took steps to limit impact and ensure sufficient liquidity for the long term * Encouraging signs of recovery over the summer * Continued progress against our strategic growth priorities * Whilst short term outlook remains challenging, st
Slide 6: Encouraging signs of recovery in Q2, especially in International
Encouraging signs of recovery in Q2, especially in International Trainline daily net ticket sales (% of PY) Encouraging signs of recovery in Q2 as ‘UK Consumer International International (top 3 markets) lockdowns lifted and social distancing relaxed Severe restrictions ! Restrictions gradually lift
Slide 7: Trainline's relative market position strengthened in the UK
Trainline’s relative market position strengthened in the UK Trainline UK Consumer vs wider market (% of PY)! ——UK Consumer —=Wider UK market * Trainline’s recovery outpaced the market in our second quarter Severe restrictions ! Restrictions gradually lifted : Restrictions i retightening * Reflects a
Slide 8: Continued progress against our strategic growth priorities
Continued progress against our strategic growth priorities (C Maintained investment in strategic priorities despite significantly reducing cash burn in Enhancing user experience: Continued innovation; eticket industry penetration up to 29% Building demand: Leant into low cost opportunity to drive re
Slide 9: Long-term structural tailwinds endure
Long-term structural tailwinds endure Large and expanding market + c€225bn global market! a + — Significant government investment in expansion and high speed rail planned Greater environmental awareness of different modes of travel 0 + UK&EU Commission objective: net-zero greenhouse gas emissions by
Slide 10: Agenda: Financial performance in H1
1. Introduction 2. Financial performance in H1 3. Progress against strategic priorities 4. Q&A
Slide 11: 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) 1,844 99 30 21 86 31 69 358 22 6 5 218 19 14 H1 2020 H12021 H12020 H12021 H12020 H12021 m UK Consumer #UKT4B = International F trainline 10
Slide 12: Net ticket sales recovered quickly as trading conditions improved
As trading conditions improved over Q2, net ticket sales recovered quickly UK Consumer vs PY (%) International vs PY (%) UK T4B vs PY (%) 74% 30% 7% _1% 2'21 August Qrat Q2'21 August Qtr2t Q2'21 August qari Q F trainline "
Slide 13: Quick and decisive actions to mitigate impact of COVID
Quick and decisive actions to mitigate impact of COVID * Paused marketing, discretionary spend * Furloughed teams under CURS Reduced 9 cash burn c£5 million per month in Q2! * Pay freeze, deferred bonus payments * Voluntary Board/ Exec team salary cuts * Long term efficiencies & cost savings Ensured
Slide 14: Strong operational cost management helped mitigate impact on EBITDA
Strong operational cost management helped mitigate impact on EBITDA Direct and central costs (£m) Adjusted EBITDA (£m) (16) H1 2020 H1 2021 H1 2020 H12021 ™ Marketing = People ™ Other mUK = International m= Central costs F trainline 6
Slide 15: Net debt increase driven by working capital outflow and cash burn
Net debt increase driven by working capital outflow in Q1 and cash burn Net debt movements in the half (£m) --------- 7 166 1 H 8 Pe Qt: £90 million outflow 1 49 ! as wees eee------ ! Q2: £(41) million inflow ! ' ! rT i) 15 ' ' Capital Working capital — Finance, lease and End FY 2020 EBITDA loss exp
Slide 16: Agenda: Progress against strategic priorities
1. Introduction 2. Financial performance in H1 3. Progress against strategic priorities 4. Q&A
Slide 17: Strategic priorities for growth
Strategic priorities for growth “ i we Enhance customer Build demand experience Optimise revenues Grow T4B F trainline 16
Slide 18: Continued customer experience innovation
Continued customer experience innovation Driving adoption of etickets in UK - Industry penetration 29%, up from 21% last year’ Lowering cost of travel for customers - Launched in-app digital railcards in UK Making our smart travel companion even smarter - Added ‘Crowd Alerts’ feature Improving self-
Slide 19: Strong new customer momentum at lower cost of acquisition
Strong new customer momentum at lower cost of acquisition Strong rebound in new customers Cost per acquisition New app customers vs Pre-COVID Monitoring, predicting and aggressively optimising post-lockdown demand mHi20) mH121 —UK —International Greater content focus on high demand domestic routes B
Slide 20: Our global API opens up international distribution market
+ Our global API opens up international distribution market to us: - Platform to scale B2B distribution internationally, ~£6bn addressable market vs historical ~£1bn UK only! - Allows B2B clients ‘one stop shop’ access to European rail supply - Meeting growing demand from TMCs? and other travel plat
Slide 21: Key takeaways
Key takeaways * Significant impact from COVID across our markets; took steps to limit impact and ensure sufficient liquidity for the long term * Encouraging signs of recovery over the summer: - In International, our top 3 domestic markets returned to year over year growth - Whilst UK lagged somewhat
Slide 22: Q&A
Q&A Y trainline