Announcement PDF Airtasker Limited ABN 53 149 850 457 20 September 2024 ASX Announcement Airtasker Limited ASX ART Spark Plus Australian Equities Day Presentation Airtasker Limited ASX ART is pleased to lodge the aached presentation being made by Chief Executive Oicer Tim Fung at the Spark Plus Australian Equities Day in Singapore today. Ends – For further information, please contact: Media Enquiries Rachel Lister Investor Relations www.investor.airtasker.com rachel.lister@airtasker.com investors@airtasker.com About Airtasker Airtasker Limited ASX ART is Australia’s leading online marketplace for local services, connecting people and businesses who need work done with people who want to work. With a mission to empower people to realise the full value of their skills, Airtasker aims to have a positive impact on the future of work by creating truly flexible opportunities to work and earn income. Since launching in 2012, Airtasker has put more than $600m into the pockets of workers (payments made after all fee revenue is deducted) and served 1.8m unique paying customers across the world. For more information visit: investor.airtasker.com. This announcement was approved for release by the Board of Directors of Airtasker Limited. 20 September 2024 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). Forward looking information (continued) 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. 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. Financial information This presentation contains certain financial information. All FY24 financial information is audited. 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. 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. Non-IFRS financial measures 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). 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. Disclaimer No representation or warranty, whether express or implied, is made by any person as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. Disclaimer (continued) You should carry out your own investigations and analysis of Airtasker and verify the accuracy, reliability and completeness of the information contained in this presentation. Neither Airtasker nor any of its related bodies corporate, directors, employees, agents and advisers accept any responsibility for any loss arising from anyone acting or refraining from acting in reliance on the contents of this presentation. Distribution This document has been prepared for publication in Australia and may not be released to US wire services or distributed in the United States. 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. It began with a chicken truck Airtasker is building the world’s most trusted marketplace to buy and sell local services. We connect people who need work done, with people who want to work. 4 Our mission: To empower people to realise the full value of their skills. Creating jobs isn’t a by-product of the work that we do: it’s our core purpose. “Thanks to Airtasker I found a quick way to pay o a massive vet bill… …and I’m now using my side hustle earnings to pay my mortgage!” “Airtasker provides me with flexible work where I choose when, where and who I want to work with. This way of working will never get old for me!” Unique Value Proposition Open Community Infinitely Horizontal Built on transparency and accountability to enable trust with an eicient light touch operating model. Unifying a fragmented local services industry and creating entirely new service categories. For Customers: For Taskers: ● Super fast responses ● Huge range ● Great value ● Instant work ● Pricing control ● Complete flexibility Competitive landscape: Airtasker is uniquely positioned as a global platform for local services Ecommerce model Community model Free to join. Customers choose who they work with based on ratings, reviews and verified qualifications. Curated supply model Remote outsourcing Local services *US/UK markets only. Not operating in AU. Advertising model Workers pay an upfront fee to join and Taskrabbit selects which workers can access jobs. Revenue model tightly aligns Airtasker with Tasker success GMV 1,3 Revenue 2,3 Sales tax 2.0% Insurance 0.9% Revenue 20.0% Merchant fees 3.7% Paid to Users 78.0% Gross profit 95.4% How does Airtasker make money? ● Free to post a task and receive oers. ● Free to access jobs and create quotes.4 ● Fees are charged when customers and Taskers experience marketplace value (at the point of connection, task completion or in certain cases task cancellation). Win-win business model: ● Low risk for Taskers. Unlike advertising models, Taskers can access jobs with no upfront fees. ● Wide range. No upfront fees means customers access the greatest range of services. ● Strong gross margin. Light touch model delivers 95%+ gross margins. 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. Based on FY24 financial data. 4. On the Airtasker marketplace. Annualised Group Revenue55 Financial Highlights 50 FY24 Revenue 🏆 Positive free cash flow in FY24 40 🏆 $28.0m3 in advertising inventory from a growing suite of global media partners AUD million 🏆 Australian marketplaces growing 24.2% CAGR1 generating $31.0m annual free cash flow 🏆 $17.8m2 in cash and term deposits 30 20 🏆 $955b4 total addressable market in UK and US 10 0 1. 2. 3. 4. 5. 6. 4 year CAGR FY20 to FY24. As at 30 June 2024. As at 2 September 2024. Total Addressable Market (‘TAM’) in the UK $78.0b and in the US $876.6b (Frost and Sullivan, 2024). Quarterly revenue run rate multiplied by 4. Airtasker Group Revenue as per the FY24 financial statements. $46.6m FY24 $46.6m 6 Continuous investment in core product experience Brand Investment Marketplace Trust Drive brand salience and leverage the breadth of customer demand we can address via our two-brand strategy. Enhance trust signals across profiles and oers to enable greater customer confidence and sales funnel conversion. FY24 $190m A proven model to build profitable marketplaces 112 25 91 20 In FY24, our Australian marketplaces generated $31.0m of cash flow: $45.2m Expenses2 $14.2m Cash flow3 $31.0m AUD million Revenue1 68 15 36 10 9.7 8.4 6.8 5 12 2.2 1.2 0 1. Revenue relating to the Established Marketplaces Segment as disclosed in note 4 of the FY24 financial statements. 2. Calculated as the dierence between revenue and EBITDA for the Established Marketplaces Segment as disclosed in note 4 of the FY24 financial statements. 3. Cash flow represents EBITDA for the Established Marketplaces Segment as disclosed in note 4 of the FY24 financial statements, less material non-cash items. FY16 FY17 Marketing Spend FY18 FY19 GMV FY20 Opportunity to leverage our scalable software platform, turbocharged by local media partnerships Australian marketplaces generate free cash flow in excess of software platform and head oice infrastructure investment ART:ASX $31.0m $18.2m cash generation investment Opportunity to leverage software platform to replicate profitable marketplace economics Software platform and head oice infrastructure Airtasker AU $11.0m media investment Airtasker UK £3.5m media investment Airtasker USA US$9.75m media investment New markets Australia’s #1 out of home company Over 35,000 sites across Australia including billboards, street furniture, airports, oice towers and retail centres driving 98% metro reach. 58 radio stations across Australia Extensive network of radio stations including KIIS FM, Pure Gold and CADA which feature popular Australian media talent including Kyle & Jackie O, Will & Woody and Jonesy & Amanda - as well as the world’s fastest growing digital entertainment platform iHeartRadio. 13 47 million people Channel 4 reaches 47m people (78% of all UK individuals) each month.1 1.2 billion streams Channel 4 owns the UK’s biggest free streaming service with more than 1.2b views every year.1 1. hps://www.channel4.com/corporate/about-4/who-we-are/channels-and-platforms 276 million monthly audio listeners 860 broadcast stations in 160 US cities and a podcast network with over 252 million monthly downloads; reaching 9 out of 10 Americans every month. 100 million daily TV, audio and digital audience 38 cable networks in major US Hispanic markets plus streaming service Vix which has over 50 million globally monthly active users and digital properties reaching over 100 million daily users. Our growing suite of market leading media partners… TELEVISION £3.5m OUTDOOR $5.0m AUDIO $5.0m AUDIO US$5.0m TELEVISION US$4.75m The opportunity: Scale a proven model with a proven playbook in the 10x larger US and UK markets ~$1.0m Annualised GMV 1. Frost and Sullivan, 2024. US$590b1 Local Services TAM Tim Fung CEO Mahendra Tharmarajah CFO Thank you! Airtasker Limited | ABN 53 149 850 457