PowerFleet : William Blair Growth Stock Conference Presentation

Investor Presentation

June 2024

The New Powerfleet

"A Golden Ticket to the AIoT Market Leadership Race"

7,500 enterprise customers worldwide

total revenue	1,800
$285m	tenured and talented team
	members
total subscribers worldwide	continents with
physical
1.9 million	6 across 120
	geographic
	presence
75%	countries
EBITDA
services revenue	+$40m

236 million	$100 billion
commercial vehicles	connected vehicle TAM

Large Addressable Global Market Ready For:

Device Consolidation, Automation, Data Harmonization, and Digital Transformation

Enterprises are	Companies are	Unified operations with
challenged with	redefining their	flexible data
disparate data,	strategic objectives	consumption
siloed operational	driven by health &	becoming
systems, and	safety requirements	a leading
fragmented solutions,	and compliance	driver for digital
severely limiting	mandates for ESG	transformation
business	advancement	and business
performance		improvement

Unity: A Blueprint for Best-in-Class Net $ Retention

Customer Acquisition through Device-Agnostic Data Ingestion

The data highway begins with our unique device and data source agnostic ingestion engine. We then apply AI and ML to the dataset to harmonize, transform, and simplify the data into actionable insights for business improvement, leading to frictionless customer acquisition.

Improving Wallet Share with Mission-Critical, AI SaaS Applications

Our AI and data-science led modular SaaS applications enable our customers to proactively and predictably solve challenges in the areas of safety, sustainability, compliance, insurance, and operational efficiency.

Unified Business Operations with Flexible Data Consumption

We help drive the performance of

physical mobile assets, the human beings operating those assets, and the surrounding business processes. We deliver actionable insights through through deep 3rd- party integration capabilities, creating enhanced customer stickiness.

4

Our Unity Ecosystem Today

Unity End-to-End AIoT Data Highway

All Industries, All Geographies, All Stakeholders

Distribution

Automotive

Transportation

Rental Car

Retail

Government

Food & Beverage

CPG & Other

Conquest &

Greenfield

Acquisition

Any device

Any Sensor

Any Data

Source

Ingest Harmonize

IoT Consolidation	One-Stop Shop

Device & data agnostic	Harmonization	Single pane
of glass & source of
ingestion
	truth, all assets
Powerfleet data		Forklifts
3rd party data		Cars
OEM data		LCV's
Other data		Trucks
		Trailers

Simplify

AI & Simplification	Consume in Different Mediums
	Ability to

Consume

Modular AI Apps

AI data-powered

modular enterprise apps

Visibility

Safety

Sustainability

Compliance

Fuel

Maintenance

Unifying Customers' Business Performance

Unify Operations

Integrations

Unified Operations

People

Assets

Business Processes

HRIS

CO2 & ESG

ERP & CRM

Payroll

Maintenance

& WMS

TMS

Labor spend

Fuel cards

CRM

Training

Compliance

Planning

Hours of Service

Insurance

Inventory

Delivering Monetization Opportunities, Increased Wallet Share & Growing ARPUs

Unified Operations	IMPROVE						PLAN
			Vehicle		Fleet
			Maintenance		buying
				decision
We power our customers' digital			Fuel cards			Insurance
transformation journey
We improve the business			Inventory			CO2 & ESG
performance of the asset, the			Mobile Assets	Reporting
		(Vehicle)
person & the business process
			OEM		Service
			Diagnostics		Intervals & Off
We become mission-criticalto			Vehicle	Road
		Compliance
our customers
Stickiness & a further customer	ADMINISTER	Onboard Parts &				Performance	HRIS	COMMUNICATE
Shipments				Management
acquisition hook			ERP
				Time
								Payroll
	WMS				Management
Another monetized consumption		Business	Planning
medium			Training/				Safety &
				Individual
	Warehouse	Process			Coaching		Well Being
					(Employee)
	Inventory	(Company)
					Labor		Compliance:
Expands stakeholders to full C-suite			TMS		Spend			Hours
	CRM					Communi-	of Service
							cation
ARPU enhancer: c.$3 each
	OPERATE						EXECUTE

Fortune 500 Penetration Across Multiple Industries

Automotive	Retail	Construction	Food &
Beverage
6 Out of the Top 10	7 Out of the Top 15	2 Out of the Top 4	8 Out of the Top 20

Transportation	CPG	Oil, Gas &	Manufacturing
& Logistics	Chemicals
4 Out of the Top 5	3 Out of the Top 8	11 Out of the Top 25	10 Out of the Top 20

7

Vast & Continually Expanding Integration Ecosystem: 232 to Date

Value Creation Opportunity and Two-Year Plan

Reiterating Guidance to Meet & Beat Rule of 40 in Two-Years

($ in millions)		Projections (FY)
	March '24	March '25	March '26	Long-Term
	Targets
Revenue	+$285	~$300	~$340
% YoY Growth		5%	10%	+20%
Gross Profit	~$160	~$180	+$200
% Margin	~55%	55-60%	+60%	+65%
Adjusted EBITDA*	+$40	~$60	~$100
% Margin	~15%	~20%	~30%	~30%
Rule of 40 performance	~20%	~25%	>40%	>50%
Net Debt ($'M)**	$110M	$110M	$80M	~1X EBITDA

Overriding priority in the short-term is the rapid expansion of

EBTIDA

• Predictable line of sight and readily accessible

Fiscal 2025 primary focus is on EBITDA expansion while simultaneously further scaling Unity, and stepping up GTM capabilities and capacity

Actions in fiscal 2025 is foundational to accelerated growth in fiscal 2026 and beyond

• Centered on Unity and SaaS Margins
• Best-in-classnet $ retention evident in the numbers

"Meet and Beat" Rule of 40 benchmark in 2025 with:

• Momentum in top line revenue growth vectors
• Highly scalable business model
• Significant operating leverage

Notes:	10
• *: Adjusted EBITDA pro forma for full year benefit from cost synergies realized in year
• **: Pro forma for working capital movements