30 August 2023 Disclaimer The following disclaimer applies to this presentation. Please consider its contents carefully. By accepting this presentation, you acknowledge that you are receiving it on the basis set out in the following paragraphs. This presentation has been prepared by Airtasker Limited (Airtasker). Currency of information The information contained in this presentation is current as at the date of this presentation or such earlier date as specified in this presentation. Summary information The information in this presentation is of a general nature only and does not purport to be complete. Not an oer This presentation is not a prospectus or other disclosure document, and is not an invitation or oer of securities in Airtasker for subscription, purchase or sale in any jurisdiction. Third party information Certain market and industry data used in connection with this presentation may have been obtained from research, surveys or studies conducted by third parties, including industry or general publications. Neither Airtasker nor any of its related bodies corporate, directors, employees, agents or advisers have independently verified any such market or industry data. Historical information Past performance information in this presentation is given for illustrative purposes only and should not be relied upon as, and is not, an indication of future performance. Forward looking information This presentation contains certain forward-looking statements that involve risks and uncertainties. Airtasker can give no assurance that these expectations will prove to be correct. You are cautioned not to place undue reliance on any forward-looking statements. Actual results may dier materially from those anticipated in these forward-looking statements due to many important factors, risks and uncertainties including, without limitation, risks associated with future capital needs and general economic uncertainty. Airtasker does not undertake any obligation to release any revisions to any “forward-looking statement” to reflect events or circumstances after the date of this presentation, except as may be required under applicable laws. Financial information This presentation contains certain financial information. The financial information has been presented in an abbreviated form insofar as it does not include all the presentation and disclosures, statements or comparative information as required by the Australian Accounting Standards, the International Financial Reporting Standards (including the interpretations of the International Financial Reporting Interpretations Commiee) and other mandatory professional reporting requirements applicable to financial reports prepared in accordance with the Corporations Act. All currency is in Australian dollars unless indicated. All FY23 financial information is audited. Airtasker uses certain measures to manage and report on its business that are not recognised under Australian Accounting Standards or International Financial Reporting Standards (IFRS). These measures are collectively referred to in this presentation as ‘non-IFRS financial measures’ under Regulatory Guide 230 ‘Disclosing non-IFRS financial information’ published by the Australian Securities and Investments Commission (ASIC). Financial information (continued) Management uses these non-IFRS financial measures to evaluate the performance and profitability of the overall business. Although Airtasker believes that these measures provide useful information about the financial performance of Airtasker, they should be considered as supplements to the income statement measures that have been presented in accordance with the Australian Accounting Standards and IFRS in Airtasker’s audited financial statements released on ASX and not as a replacement for them. 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By receiving this document you are deemed to confirm, represent and warrant to Airtasker and its related bodies corporate and each of their directors, employees, agents and advisers that you agree to be bound by the limitations and conditions set out in this disclaimer. 2 Airtasker is building the world’s most trusted marketplace to buy and sell local services. New brand image that speaks to two people connecting We connect people who need work done, with people who want to work. 3 Our mission: To empower people to realise the full value of their skills. “This has helped me see my value and my self worth.” Tess K Creating jobs isn’t a by-product of the work that we do: it’s our core purpose. “This gives you the chance to help people and at the same time, feel appreciated for what you do.” Maico L 4 01. FY23 Key Highlights 5 FY23 Financial Highlights $41.8m $44.2m +42.6% pcp +40.4% pcp $25.0m1 +28.7% pcp $6.7m Partnership with Channel 4 unlocking $6.7m (£3.5m) media advertising services in Airtasker UK over the next two years. -$8.0m 53.1% improvement in EBITDA loss $16.1m Cash and zero debt. Net cash outflow reduced 23.9% on pcp. 2 1. The Group has two operating segments, being the 'Established Marketplaces Segment' and the 'New Marketplaces Segment'. AU EBITDA refers to the ‘Established Marketplaces Segment’ which consists of the Australian Airtasker and Oneflare marketplaces. 2. Global head oice operating expenditure relating to the Airtasker and Oneflare platforms and marketplaces (engineering, product support and maintenance), as well as back oice support functions (executive, legal, finance and people operations). 6 FY23 Marketplace Highlights 12,7703 149,0001 +159.7% pcp +40.4% pcp2 9,150,000+4 +40.7% pcp +66% 2,500,000+5 improvement in CAC6 % +15.2 pcp 6 6,750,000 Verified Airtasker User Reviews7 1. 2. 3. 4. 5. 6. 7. Total oer active Taskers on the Airtasker platform in FY23. Oneflare is included from the date of acquisition on 25 May 2022. Total quoting businesses on the Oneflare platform in FY23. Tasker oers on the Airtasker platform and quotes on the Oneflare platform in FY23. Posted tasks on the Airtasker platform and posted jobs on the Oneflare platform in FY23. Customer acquisition cost (total marketing costs over new unique paying customers) on the Airtasker platform in Australia. New unique paying customers represent customers who assign a task for the first time. Cumulative user reviews on the Airtasker platform from inception to August 2023. 7 02. Business Overview and Strategy 8 Unique value proposition: Core services: Open community Infinitely horizontal Built on transparency and accountability to enable trust with a light touch operating model. Unifying a fragmented local services industry and creating entirely new service industries. For customers: For Taskers: ● Super fast responses ● Huge range of services ● Great value for money ● Instant work ● Pricing control ● Complete flexibility Secure payments | Public liability insurance | Customer support 9 Efficient business model enables profitable unit economics and sustainable competitive advantage… GMV1 Revenue2 Sales Tax 1.8% 6m+ Insurance 1.8% Merchant fees 3.7% Cumulative user reviews Revenue 17.6% Paid to Customers/ Taskers 80.6% Gross profit 94.5% Profitable unit economics Efficient customer acquisition Sustainable competitive advantage Open community marketplace and light touch operating model delivers consistent gross margin of 94+%. Strong brand and network eects resulted in over 415,000 UPCs3 in FY23 in Australia. With a low reliance on paid marketing, Airtasker achieved a blended CAC of $9 against annual revenue per UPC of $81 (9.4x). Cumulative trust and reputation data results in a sticky user base and sustainable competitive advantage. 1. Gross marketplace volume (GMV) for Airtasker only. GMV represents the total price of all tasks booked through the Airtasker marketplaces before cancellations and inclusive of price adjustments between customers and Taskers, bonuses paid by customers to Taskers, fees payable by customers and Taskers to Airtasker, and any applicable sales taxes. 2. Revenue comprising the Airtasker and Oneflare marketplaces. 3. Represents the unique paying customers (UPC) who assign a task in FY23. 10 High operating leverage and proven media partnership strategy supports global opportunity Profitable global scaling opportunity1: Fixed cost base and discretionary investment in new features. remains relatively constant as we expand into new markets. AU marketplace EBITDA currently covers fixed Global Head Oice operating expenditure. Proven media partnership strategy : Together with Seven West Media, we’ve proven that media partnerships can turbocharge network eects and deliver profitable scale… and are now replicating this model in new markets. High operating leverage: New markets do not add significant fixed costs but require upfront media investment to reach profitable scale. US UK Australia New markets Global Head Oice: Operating Expenditure2 Innovation Investment3 Local revenue Local costs Global costs 1. 2. 3. For illustrative purposes. Operating expenditure relating to the Airtasker and Oneflare platforms and marketplaces (engineering, product support and maintenance), as well as back oice support functions (executive, legal, finance and people operations). Non-capitalisable innovation investment relating to the Airtasker and Oneflare platforms associated with the development of new features designed to enhance the customer experience, increase long term gross marketplace volume and grow long term revenue. 11 03. Operational Update 12 We improved funnel conversion to deliver strong business performance despite soft macroeconomic environment A soft macroeconomic environment saw consumer demand1 in Australia decrease however, a 38.8% surge in marketplace supply2 and focus on core product resulted in a higher quality customer experience and a 20.8% improvement in conversion to revenue.3 Marketplace Demand4 Marketplace Supply ⬆38.8% Supply ratio2 Australia ⬇ Demand (posted tasks)1 down 6.4% ⬆ Matching rate5 up 8.0% ⬆15.2% Australia ex Oneflare ⬇ Cancellations6 down 6.8% ⬇6.4% United Kingdom ⬆11.5% United States ⬆158.0% 1. 2. 3. 4. 5. 6. 7. FY23 posted tasks on the Australian Airtasker platform compared to FY22. FY23 oers per posted tasks on the Australian Airtasker platform compared to FY22. FY23 revenue per posted task on the Australian Airtasker platform compared to FY22. FY23 posted tasks on the Airtasker platform and posted jobs on the Oneflare platform compared to FY22. Oneflare is included from the date of acquisition on 25 May 2022. FY23 assignment rate on the Australian Airtasker platform compared to FY22. FY23 cancellation rate on the Australian Airtasker platform compared to FY22. FY23 completed tasks on the Australian Airtasker platform, as a percentage of posted tasks, compared to FY22. ⬆ Completed tasks7 up 10.2% ⬆ Revenue per posted task3 up 20.8% 13 We boosted operational efficiency by integrating Oneflare and restructuring the Airtasker Group Oneflare performing ahead of expectations ● Oneflare FY23 revenue ahead of expectations ● Business performing well with plans to invest further in Oneflare growth strategy in FY24. ● Integration is tracking positively with cost base de-duplicated and security up-levelled. ● Marketing and pricing initiatives driving improved revenue and profitability. Restructured to improve operational eiciency ● In April 2023 we restructured to reduce headcount by 20%, predominantly in non-revenue generating roles. ● We continue to make ongoing investments in the growth and wellbeing of our people to create a more lean, agile and overall higher performing organisation. 14 We focussed our growth plans and laid the foundations to scale our media partnership strategy globally Invested in a powerful new brand Announced new Chair Cass O’Connor Secured $6.7m media-for-equity partnership with Channel 4 Working alongside London-based brand studio Koto we launched a vibrant and exciting new Airtasker ethos and design ready for global scale. We announced that, experienced ASX director and media & technology veteran, Cass O’Connor would join the Airtasker board as Chair. In June 2023, we announced a partnership with Channel 4 that provides Airtasker with $6.7m in media advertising power. 15 We continued to invest in the trust and safety of our community The trust and safety of our marketplace users is critical to our success. In 2022 we focussed investment on cybersecurity and in 2023 we expanded this focus to enhance marketplace trust and safety. Throughout the year, we delivered product and infrastructure changes that improve user safety, as well as enhancing customer experience by protecting our marketplace from bad actors as well as duplicate and fraudulent accounts. Marketplace Trust ● Improved systems to detect and block suspicious marketplace traic and fraud. ● Automated enforcement against duplicate accounts and repeat oenders. in 51% Reduction aempted fraud 1 9% Reduction in duplicate and spam accounts1 72% Aempted account takeover incidents1 ● Added transparency around bad actors with ratings and reviews of cancellations. User Safety ● Invested in account security with 2-Factor Authentication, and breached account detection. ● Improved user safety by moving PII and credential storage to a secure identity vendor. ● Improved marketplace monitoring through updated flagging and moderation features. 1. Calculated as the 12 months preceding 31 July 2023 compared to the previous period. 16 04. FY23 Financial Results 17 Revenue $43.2m1 +39.7% on pcp Gross Profit $41.0m1 +41.7% on pcp AU: Established marketplaces Revenue +40% to $43.2m1 In Australia, we are in the ‘scaling’ phase of marketplace growth, focussed on driving profitable revenue and gross profit. 29,288,000 1 In FY23 revenue grew 39.7% on pcp to $43.2m while gross profit grew 41.7% on pcp to $41.0m1 driving an Australian EBITDA contribution of $25.0m2. 1. Comprising the Australian Airtasker and Oneflare marketplaces. 2. The Group has two operating segments, being the 'Established Marketplaces Segment' and the 'New Marketplaces Segment'. Australian EBITDA refers to the ‘Established Marketplaces Segment’ which consists of the Australian Airtasker and Oneflare marketplaces. 18 UK Gross Marketplace Volume and Revenue UK: New marketplaces GMV +35% & Revenue +93% The UK city-level marketplaces are in the ‘one to 100’ phase during which we begin to balance marketplace supply and demand. Revenue +92.5% on pcp to £0.5m GMV +34.6% on pcp to £3.7m FY23 GMV1 grew 34.6% on pcp to £3.7m while FY23 revenue grew 92.5% on pcp to £0.5m. 1. Gross marketplace volume (GMV) represents the total price of all tasks booked through the UK Airtasker marketplace before cancellations and inclusive of price adjustments between customers and Taskers, bonuses paid by customers to Taskers, fees payable by customers and Taskers to Airtasker, and any applicable sales taxes. 19 US Posted Tasks and Tasker Oers US: New marketplaces Posted tasks 2.6x & Tasker offers 4.0x Demand ● Posted tasks ● 64,000 posted tasks ● 158.0% growth on pcp Supply ● Tasker oers ● 106,000 tasker oers ● 300.2% growth on pcp The US city-level marketplaces are in the ‘zero to one’ phase during which the key focus is on posted tasks in order to drive Tasker engagement. In FY23 customer posted tasks increased 158.0% on pcp to 64,000 tasks while Tasker oers increased 300.2% on pcp to 106,000. 20 Australian marketplaces generate positive EBITDA after covering Global Head Office operating expenditure In FY23, Airtasker’s Australian marketplaces generated EBITDA of $25.0m1. ● Australian EBITDA1 covers Global Head Oice operating expenditure2 (excluding innovation investment3) with a combined EBITDA of $3.9m. ● We are commied to innovation investment to realise long term growth opportunities (eg. rebooking via our Contacts product and high value trades via investment in Oneflare). ● We continue to build new marketplaces internationally in the UK and US, leveraging our scalable software platform, global head oice operations and innovation investment. ● Creating new marketplaces in the UK and US requires upfront investment primarily in the form of variable marketing expenditure (ie. paid advertising) to drive user acquisition and establish early network eects. 1. 2. 3. Non-Statutory Operating Segment Data $m FY23 FY22 +/- Variance Established Marketplaces - Australian EBITDA 25.0 19.4 28.7% Global head oice - operating expenditure1 (21.1) (18.2) 16.5% 3.9 1.2 202.8% Global head oice - Innovation investment2 (3.9) (7.8) (50.5%) New Marketplaces (UK and US) EBITDA (8.0) (10.5) (24.3%) Group EBITDA (8.0) (17.1) 53.1% Net EBITDA The Group has two operating segments, being the 'Established Marketplaces Segment' and the 'New Marketplaces Segment'. Australian EBITDA refers to the ‘Established Marketplaces Segment’ which consists of the Australian Airtasker and Oneflare marketplaces. Operating expenditure relating to the Airtasker and Oneflare platforms and marketplaces (engineering, product support and maintenance), as well as back oice support functions (executive, legal, finance and people operations). Non-capitalisable innovation investment relating to the Airtasker and Oneflare platforms associated with the development of new features designed to enhance the customer experience, increase long term gross marketplace volume and grow long term revenue. 21 Balance Sheet $m Sound financial position ● Strong balance sheet - $16.1m cash and zero debt. ● Net cash outflow reduced 23.9% on pcp. ● Net loss after tax improved by 36.6% to $12.9m. ● Continuing cost and cash flow management. 30 Jun 23 30 Jun 22 +/- Variance Cash and cash equivalents 16.1 23.7 (32.3%) Trade and other current assets 10.1 6.5 56.1% Non-current assets 24.8 24.7 0.7% Total assets 51.0 54.8 (7.1%) Trade and other payables 3.9 7.3 (47.1%) Unclaimed customer credits 4.6 4.7 (1.6%) Other current liabilities 4.2 4.7 (12.0%) Non-current liabilities 9.2 1.2 688.8% Total liabilities 21.9 17.9 22.3% Net assets 29.1 37.0 (21.3%) Issued equity 137.5 133.8 2.8% Reserves 19.3 18.2 6.4% (127.9) (115.0) 11.2% Non-controlling interests 0.2 0 100% Equity 29.1 37.0 (21.3%) Accumulated losses 22 05. Future outlook 23 On track to deliver positive free cashflow result in FY24 Divest all non-core businesses acquired through the purchase of Oneflare. Expected to impact FY24 revenue by $1.0m but will deliver positive impact on operating costs, cashflow and strategic focus. Optimise marketing, pricing, gross margin and cost structure in our core Australian platforms to deliver positive free cashflow result in FY24. Divestment of non-core portfolio on track to complete in 1H24: ➜ 2Q23 4Q23 1Q24 Execute on highly focussed growth strategy: Invest in core product experience Scale in new markets via media partnerships 24 Focus on core product experience to further consolidate Australian market leadership Improve marketplace reliability by establishing clear expectations and responsibilities (policies & incentives). Address platform leakage and align financial incentives to positive marketplace outcomes. Continue to delight our customers and invest in a loved Australian brand. FY23 task completion rate improved 10.2% on prior year Introduction of Connection Fee (replacing previous fee model) addresses leakage. 63% brand awareness driven by earned media eg. featuring in Deadloch or helping secure Taylor swift concert tickets. 25 Turbocharge UK marketplace with $6.7m Channel 4 investment and ready our media partnership model for global scale Airtasker completed a $6.7m media partnership with Channel 4 in June 2023 enabling reach to 47 million people across the UK and launching in October 2023. £40B + We’ve also entered a formal collaboration with homewares brand Dunelm which sees assembly and installation services promoted across 180 UK stores! 1 In FY24, we will fine tune our integrated marketing Playbook - cornerstoned by media partnerships - in preparation for global scale. Local Services TAM ● 180 stores ● £1.6 revenue ● 11,000 employees1 £4m Annualised GMV Australian marketplace UK marketplace 1. 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