25 Nov

AGM Presentation

Rent.com.au Limited AGM Presentation | 25 November 2021 • Chairman’s Welcome and Meeting Instructions • Voting Opens • Resolutions • Voting Closes • CEO Presentation • Q & A Agenda 2 Chairman’s Welcome and Meeting Instructions • For shareholders only – please log in to the Automic investor portal in order to vote. If you have already submitted proxies you may ignore this step. • If you wish to ask a question, please click on the Q&A feature in the Zoom webinar and type your question. • Voting is now open 3 Proxy Voting Results Resolution For Against Discretionary Abstained Excluded Total For Total Against (Voted For) (% of Eligible Proxy Votes) 1. Adoption of Remuneration Report 23,908,137 451,438 189,829 465,596 39,619,197 98% 2% 2. Re-election of John Wood as a Director 51,728,375 217,345 200,717 5,596 12,482,164 100% 0% 3. Ratification of Prior Placement Shares under Listing Rule 7.1 capacity 63,965,518 460,366 202,540 5,773 0 99% 1% 4. Ratification of Prior Placement Shares under Listing Rule 7.1A capacity 63,965,518 460,366 202,717 5,596 0 99% 1% 5. Approval of 10% Placement Facility 63,922,635 472,551 200,717 38,294 0 99% 1% 4 Voting will now close and final results will be posted to the ASX announcements platform shortly At Rent, we believe Australia's renters deserve better. Renting is fast becoming the preferred choice for many people and is a segment without a champion. That's why we're using technology to reimagine every part of the renting journey from finding a house to paying the rent. We serve renters throughout their renting journey. Looking Applying Moving Living Search Phase Tenancy Phase 6 weeks 30 months Ownership 6 • Established large industry portal (profitable, growing) • Designed for renters looking for a new home • Renter focus (tools, products, services) • New Payments Platform (just released) • Designed for all renters • Renter focus (tools, products, services) New Delivering on the promise to our customers… 7 #1 Rated Real-Estate App +18,000 reviews (4.9*) +1.2 million Renter Resumés Largest “lifestyle” database 8,000 suburbs, 325,000 reviews, 1.6m categories Financing $’millions of rental bonds Trusted by Renters +100,000 monthly readers of advice pages …and driving strong business growth. 8 8 $2,164k $2,301k $2,945k FY19 FY20 FY21 Strong FY21 revenue growth † 28% ($2,121,568) ($772,118) $117,468 FY19 FY20 FY21 and profitable for the first time † † Group EBITDA excluding RentPay business unit All renters need to pay their rent, making RentPay relevant to over 2.5 million (mainly millennial) households in Australia who collectively pay more than $1 billion in rent each week – week in, week out. Yet the market is oriented towards agent & landlord needs. 70% of people are anxious about their energy bill 68% regularly use their smartphone for banking #1 money is the leading source of millennial stress Sources: The Australian Millennial Report 2020, Canstar, RFi Group 9 Now we’ve started disrupting the tenancy period. Starting with rental payments. Renters are able to • Pay what they want • Pay when they want • Be recognised & rewarded • Be in control Agents/LLs receive • The right amount • At the right time • New revenue lines • Reconciliation tools 10 65% 65% 65% opted in for Scorebuilder Average Buffer Amount $ 10 0 Renters choosing flexibility † † Payments into the wallet and payments to agent/landlord are on different frequency Optimisation Phase nearing completion • New security functionality released • Web version of the app launched • Awareness (education) efforts are working • Major App update underway, simplifying customer flows Early days, steady growth. 11 10,000+ Downloads 1,500+ Active $4.5m+ rent paid $300k+ in Wallets 96% to Agents Customer Growth Plans • Further expansion of marketing activity to existing RENT customer base: • RENT customers converting at 2x the rate of external marketing • Balancing with need to drive advertising/product revenue for RENT • Enhancement of Agent capability to capitalise on significant interest. 12 Platform for services, continuous expansion. Partner discussions are well underway to expand services and benefits to renters. We see this an as integral ongoing part of the customer proposition. 13 +40% of our customers want to align their utilities payment to their rent, for a partner it reduces bad debt exposure and improves cashflow Building on from our “first in market” Scorebuilder product, have rent contribute to and provide an advantage for a future mortgage (align the customer to a provider before they start looking) Linking a customer’s regular rental payments to a discretionary payment platform (BNPL) to drive user preference at retail PoS Opportunities for RentPay Agents via landlord services, lead generation and new revenue lines RNT Group Outlook 14 • Core RENT search business now consistently profitable, strong start to FY22 • We continue to invest in the development and growth of RentPay. It aligns with our vision and is a significant growth opportunity • Forecasting growth across both Rent.com.au and RentPay businesses • Partner discussions (utilities, mortgages, insurance) progressing well – AGL have extended energy connection partnership for a further year • RentPay marketing progressing well, new channels opening up and messaging refined • Well funded: $662k R&D tax refund received, +$1.8m cash on hand Appendices Financial results FY21 † Source: rental payments revenue was previously included in Renter Products prior to October 2019. Now included in Other. Comparatives restated to reflect LFL. REVENUE EBITDA $2,164k $2,453k $3,094k RNT Group Revenue & EBITDA ($2,122k) ($1,134k) ($689k) FY19 FY20 FY21 16 RNT Group FY21 FY20 % $’000 $’000 Change Renter Products † 1,552 1,105 +40% Advertising Sales 1,263 986 +28% Other Revenue 279 362 (23%) Total Revenue 3,094 2,453 +26% Cost of Sales (1,268) (933) +36% Gross Margin 1,826 1,520 +20% Gross Margin % 59% 62% Operating Costs (2,515) (2,653) (5%) EBITDA (689) (1,134) (39%) Corporate information 17 Financial information Share price (23 November 2021) $0.07 Ordinary shares on issue 398.2m Market capitalisation $27.9m Cash on hand (23 November 2021) $1.8m Enterprise Value $26.1m Top shareholders % Bevan Slattery (new holder 2021) 10.1% Greg Bader (CEO – holder since 2016) 4.8% John Wood (Director – holder pre-IPO) 3.9% Garry Garside (Director – holder pre-IPO) 2.2% Mark Needham (HNW – holder since 2016) 2.0% Other Exercise Vest Expiry Number Remuneration Rights (CEO, COO) Jun-22 Jul-22 333,333 Options (Directors) $0.10 - $0.15 Nov-23 Nov-25 7,200,000 Option (Novatti) VWAP vested Feb-22 5,982,028* Performance Rights (LTI) Jun-23 Jul-23 11,475,000 Performance Rights (LTI) Jun-24 Jul-24 7,875,000 1 (10%) 5 (15%) 7 (9%) 14 (9%) 3,968 (57%) 1,507 (1%) Shareholding Distribution > 5.00% 2.00% - 4.99% 1.00% - 1.99% 0.50% - 0.99% < 0.50% Unmarketable * option has VWAP exercise price and therefore number of securities cannot be determined until exercise Garry Garside Non-Executive Chairman ? Experienced property developer and investor ? Founded Prime Health Group before merging it with Westpoint Healthcare to form Endeavour Healthcare ? MBA (University of WA) Sam McDonagh Non-Executive Director ? 20+ years experience in senior management roles including Airbnb, eBay and iiNet ? Non-Executive Director of TicToc Homeloans ? Chartered Accountant and experienced marketer Phil Warren Non-Executive Director ? 20+ years in corporate/advisory roles with ASX listed companies ? Managing Director of corporate advisory firm Grange Consulting, Chartered Accountant ? Non-Executive Director of Family Zone Cyber Safety Ltd and Anax Metals Ltd John Wood Non-Executive Director ? Extensive experience in retail, property, sales and marketing, business management and tourism ? Founder & National Acquisitions Manager of National Lifestyle Villages ? Former Rothwell’s Young Entrepreneur Award winner 18 Experienced board Dedicated leadership A passionate team ready to change the world made for renters https://investors.rent.com.au investors@rent.com.au 1300 736 810
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