EROAD (ERD) Investor presentation summary

FY24 performance and strategic initiatives

• Revenue guidance for FY24 is $175m–$180m, with normalised EBIT of $0m–$5m and R&D spend of $30m.

• Achieved $20m in annualised cost savings over FY23 and FY24 through organisational optimisation and supplier renegotiations.

• Reached 250,000 global units milestone and accelerated the 4G upgrade program.

• Key enterprise customer wins and expansions in Australia, New Zealand, and North America.

• Successfully completed a $50m underwritten capital raise and restructured credit facilities to strengthen the balance sheet.

Board and executive changes

• Two new directors joined in FY24, with board renewal and external review planned for FY25.

• Co-CEO structure implemented, with David Kenneson appointed in the US and Mark Heine in NZ.

• CTO appointment announced, effective June 2024.

• Board diversity: 3/6 directors are female, 5/6 are independent, and average tenure is 2.5 years.

Governance and board skills

• Board skills include transport industry, finance, technology, SaaS, and governance expertise.

• Committees restructured: People & Culture and Nominations Committees established.

• Focus on diversity, executive compensation, and succession planning.