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2025 AGM Mat Ratty Founder and Chief Executive Officer November 2025 Investor Presentation For personal use only
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Disclaimer This presentation contains summary information about Adveritas Limited (Adveritas) and is current at 11 November 2025. The information in this presentation is of general background and does not purport to be complete. This presentation is not investment or financial product advice (nor tax, accounting or legal advice) and is not intended to be used for the basis of making an investment decision. Investors should obtain their own advice before making any investment decision. This document has been prepared based on information available at the time of preparation. No representation or warranty, express or implied, is made as to the fairness, accuracy or completeness of the information, opinions and conclusions contained in this presentation. Some of the statements appearing in this presentation are in the nature of forward looking statements. You should be aware that such statements are only predictions based on assumptions, and are subject to inherent risks and uncertainties. Those risks and uncertainties include factors and risks specific to the industry in which Adveritas operates as well as general economic conditions, prevailing exchange rates and interest rates and conditions in the financial markets. Actual events or results may differ materially from the events or results expressed or implied in any forward looking statement. Neither Adveritas, or their officers or any person involved in the preparation of this presentation makes any representation or warranty (express or implied) as to the accuracy or likelihood of fulfilment of any forward looking statement, or any events or results expressed or implied in any forward looking statement, except to the extent required by law. You are cautioned not to place undue reliance on any forward looking statement. The forward looking statements in this presentation reflect Adveritas’ views as at the date of this presentation. To the maximum extent permitted by law, Adveritas and its related bodies corporate (as that term is defined in the Corporations Act) and the officers, directors, employees, advisers and agents of those entities do not accept any responsibility or liability including, without limitation, any liability arising from fault or negligence on the part of any person, for any loss arising from the use of the presentation or its contents or otherwise arising in connection with it. For personal use only
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About Trafficguard Transformational year Record results Online gaming and sports betting market leadership Agency partnerships breakthrough Diversified customer base 03 04 05 06 07 08 Record annual contract value USA launch Growth outlook - Enhanced product suite FY 2026 Outlook Corporate overview Board & management 09 10 14 18 19 20 For personal use only
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About Meta integration approved (Facebook + Instagram) 17 trials in progress → expected contract conversions in Q2 FY26 Affiliate expansion with Impact.com & others Both channels to expand ARR base ENHANCED PRODUCT SUITE PPC fraud (only PPC verification vendor on Google Cloud Marketplace) Mobile app(user acquisition campaigns) Affiliate (commission-based marketing) Social media(Facebook & Instagram) OMNI-CHANNEL Comprehensive omni-channel solution: Proprietary A.I. and machine learning big data - 100+ billion data points across more than 8,000 advertisers Real-time fraud detection and prevention across channels BIG DATA AND A.I. Software-as-a-Service Proprietary big data Certified Google Premier Ads & Google Cloud PartnerOmni-channel Mobile PPC Social Affiliate • • • • • • • • • • For personal use only
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Transformational year Achieving strategic milestones STRONG FINANCIAL PERFORMANCE Strong balance sheet driven by record results and oversubscribed $8.5M placement DIVERSIFIED CUSTOMERS Diversified customer base provides multiple growth options RECORD ACV Record ACV demonstrates upside potential ENHANCED PRODUCT SUITE Diversified product suite creates multiple revenue growth options AGENCY SCALEUP First tier-1 agency contract secured, generating first revenues and providing significant scaleup opportunity. ONLINE GAMING & SPORTS BETTING Extended market leadership leadership in this segment, significant growth opportunity remains ️ For personal use only
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Record results Adveritas achieved record ARR and cash receipts, improved operating cash outflow and strengthened balance sheet CHART 1: RECORD ARR ARR increased by 72% in FY25 from $6.1M to $10.5M. ARR $12.2m as at 30th Sep CHART 2: CASH RECEIPTS 101% growth to $10.4M CHART 3: OPERATING CASH FLOW 68% improvement from $9.2M to $2.9M FY23 FY24 FY25 $0 $3 $6 $9 $12 ARR (A$M) FY23 FY24 FY25 0 3 6 9 12 Annual cash receipts (A$M) FY24 FY25 (10) (6) (8) (4) (2) 0 Annual cash receipts (A$M) For personal use only
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Significant untapped market opportunity ~1,000 sports betting companies globally Currently servicing ~ 70 Companies Major client wins in FY25 included LeoVegas, FanDuel, Bally’s ($1.1m total ACV) MARKET OPPORTUNITY Recognised category leaderin sports betting Google PPC verification Serving T op 10 global sports betting operators Contract renewalsat higher rates with extended termsdue to increasing Google Ad Spend COMPETITIVE POSITION Top 10 clients are on multi-year contractsfor enhanced revenue certainty Group-level negotiations progressing for holding company deals Geographic expansionacross regulated markets Cross-channel expansionwith Meta and affiliate integration GROWTH STRATEGY Online gaming and sports betting market leadership • • • • • • • • • • • For personal use only
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Agency partnerships Breakthrough First tier-1 agency contractsigned adding ~$500K ARR Validates T rafficGuard value propositionto agency channel Scalable distribution modelwith significant growth potential Globally retained anti fraud partner for Group M STRATEGIC MILESTONE ACHIEVED Access to thousands of enterprise clientsincluding Fortune 500 with a Large number of clients in pipeline in Dec quarter Leverage extensive agency sales teamsto accelerate sales cycle Cross-vertical expansionopportunities AGENCY PARTNERSHIP BENEFITS Multiple tier-1 agency negotiationsin final legal review Global reachacross multiple jurisdictions Client educationprograms well progressed Thousands of potential TrafficGuard userswithin agency networks Agency hyperscale and group contract expected PIPELINE & PROGRESS • • • • • • • • • • • • • AGENCY POTENTIAL ACTIVATED For personal use only
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Diversified customer base Trusted by over 120 enterprise clients across multiple sectors Sports Betting - Lateral Expansion General- Vertical Expansion For personal use only
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Record annual contract value (ACV) CHART 4: RECORD ANNUAL CONTRACT VALUE High value provided to enterprise clients by TrafficGuard; and Substantial revenue upside potential Record $1m ACV demonstrates: This was a renewal of an existing contract for a term of 3 years with an average annual contract value of ~$1m See ASX releases dated 24 and 25 March 2025 for further information. In relation to the record $1m ACV: TrafficGuard reported record single customer annual contract value of $1m in March 2025 Mar 23 Jun 23 Sep 23 Dec 23 Mar 24 Jun 24 Mar 25 0 200 400 600 800 1,000 1,200 Record annual contract value (A$000s) • • • • For personal use only
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USA Launch: Untapped greenfield of digital ad spending in the United States, world’s largest digital ad spending market Europe US$118.3bn APAC US$236.9bn USA US$324.9bn Current revenues largely generated from these regions Large untapped market opportunity 1 https://w ww.obe rlo.com/sta tis tic s/us-digital -ad-spending 2 https://w ww.sta tis ta.com /outlook/dm o/digital-advertising/worldwide Ad spending in the Digital Advertising by key markets For personal use only
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Event ROI Driving Performance 3 Full-Time Staff Deployed in the USA Mathew Ratty, CEO Kalen Bushe, Customer Growth Aaron Chambers, Solutions Engineer America’s events remain the core engine of revenue growth for global event spend 12X ROI 2025 America’s events March Qtr 2026 upcoming America’s events For personal use only
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Deal Growth since JulyMomentum US Pipeline 336,200 Revenue $ 3.5 3.0 2.5 2.0 1.5 1.0 0.5 Cumulative ARR (AUD) 0 July Cumulative ARR Breakdown by Type (Revenue, Pipeline, Opportunity) 1,750,000 Opportunity $ 3,675,000 $ 1,588,600 Pipeline $ Aug Sep Oct Nov 1.6m ARR AUD Open Pipeline 5 Won Deals 32 Open Deals 336K ARR AUD Won Deals 12 Weeks in the US ️ For personal use only
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Americas Deals By Industry Travel Insurance Technology Fintech Education Agency Health & LifestyleeCommerce Sports Betting ️ Pipeline Vertical Diversification: Continue deepening engagement with sportsbooks, where there remains a significant untapped market in the US. Build on early momentum in eCommerce and other verticals, which are rapidly growing verticals with the US representing the largest global opportunity. Through ongoing product enhancements and expansion of channel offerings, we can diversify revenue by attracting additional industries - reducing reliance on sportsbooks while accelerating overall growth. For personal use only
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TrafficGuard Growth Outlook: Overview SM E 2024/25 2025 Aug/2025 Enterprise - Sports Betting Focused on enterprise- level sports betting operators. Established strong product-market fit and early enterprise traction. Established as number one solution for sports betting operators. 1 Enterprise - Agencies Introduced agency partnerships to extend enterprise reach. Early deal traction building steady pipeline growth. Strengthened relationships with agency partners through collaboration and working towards global minimum commits. 2 US Market Launched soft entry into the US market with dedicated representatives. Activated presence at key industry events and customer visits across US, Canada, and LATAM. 3 New Channels - Meta & Affiliate Introducing TrafficGuard’s Affiliate solution. Activated Meta protection for enterprise customers as an upsell product. December quarter revenue expected. 4 Introduction to New Verticals Targeting new verticals for 2026, starting with eCommerce, fintech and emerging digital sectors. Revenue growth now coming from a multi- vertical approach - the main driver heading into 2026. 5 Monetising the growth in SME self-serve users Launching the new self- serve experience and enterprise dashboard for SMEs due to strong demand. Enabling scalable growth through automation and streamlined user driven onboarding and usage. Channel partner expected FY26. 6 CHANNEL / AGENCYENTERPRISE SME Partnerships with: Activation of New Self-Serve Experience For personal use only
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Enterprise Trial audit period Report check in Dedicated support Monthly reports Unique features All channels Enterprise dashboard Single portfolio Up to 30K spend Search and Meta Email support SME - Self-serve For personal use only
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29/ month $ Select Plan Essentials For solo advertisers Select Plan 49/ month $ Growth Scale your protection 79 / month $ Select Plan Advanced Maximise performance Contact Sales Enterprise Custom solutions Google Ads OR Meta Single ad account < $5K monthly spend Basic protection 1 ad account Cancel anytime Google Ads AND Meta Single portfolio < $10K portfolio Basic protection 2 ad accounts Google Ads AND Meta Single portfolio < $10K–20K portfolio Advanced protection Advanced reporting Up to 5 ad accounts Email and Chat support Dedicated Success Manager Advanced reporting and features Google Ads AND Meta + Mobile AND Affiliate Custom Pricing Tailored for large teams RECOMMEND ED Cancel anytime Cancel anytime Detection Audit provided Reporting all platforms & accounts customised Unlimited Ad Accounts Yearly Contract For personal use only
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Inbound Momentum & Untapped Self-Serve Potential Inbound demand from SME’s is growing while self-serve registrations accelerates, a strong dual growth engine not fully activated and monetised. Inbound Sales Inquiries by Segment Cumulative Platform Subscribers 300% Growth YoY 38% Growth YoY 7,707 7,9 8 1 8 ,29 5 8 ,6 4 4 8 ,9 5 0 9 ,26 4 9 ,6 719 ,4 76 9 ,9 4 1 1 0 ,1 9 6 1 0 ,4 5 1 1 0 ,5 3 5 Free self-serve planPaid se lf-serve plan Cumulative Su bscribers by Month For personal use only
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FY 26 Outlook Record ARR growth Diversified revenue structure and jurisdictional expansion Agency holding Group deals Record full year cash receipts expected Increased product development to capture growing share of demand For personal use only
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TOP SHAREHOLDERS Carrington Capital Mark McConnell (Non-executive Director) BNP Paribas Nominees (Hub 24) Shanahan Freight Holdings Surf Coast Capital Mathew Ratty (Chief Executive Officer) Adman Lanes 12.6% 11.4% 10.3% 7.3% 4.2% 3.5% 3.3% Ticker Cash as at 30 September 2025 Shares on issue Market Capitalisation at 15.0c Top 20 (excluding Directors & Management) Directors and Management Holding ASX: A V1 $6.9million 924 million 139 million ~ 58% ~ 15% STOCK OVERVIEW SHARE PRICE Relative to ASX Small Industrials IndexSHARE PRICE Performance to 3 Nov 2025 Corporate Overview For personal use only
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Board With extensive technology and media sector experience, supporting USA growth and gaming/sports betting sector expansion NY-based senior media & advertising executive. Recognised advertising industry expert (AdWeek 50, 2018) and sought by governments and regulators on issues relating to advertising, data, transparency, and competition. President of Media for Quad (NYSE.QUAD) a leading marketing experience company, leading media agency and data capability. Previously, Global Chief Media Officer of UM, part of Interpublic Group (NYSE.IPG) Previously NED of Accent Group Limited (ASX.AX1) and Prime Media Group Limited (ASX.PRT) during the successful acquisition by Seven West Media (ASX.SWM) BA (Comms) from Western Sydney University; MBA (Executive), AGSM. MAICD. CHAIRMAN, JOSHUA LOWCOCK Co-Founder and Chief Executive Officer of Adveritas and TrafficGuard since 2018 Mat has been in digital ad tech for the last 8 years, prior to being CEO of Adveritas. He has led the strategy of bringing Adveritas’s main product, TrafficGuard, to market whilst building out his C level executive team. Prior to this Mr Ratty Co-founded MC Management Group Pty Ltd, a venture capital firm operating in domestic and international debt and equity markets, who are also shareholders in the Company. He holds a degree from Curtin University majoring in Finance and Property with first class honours in finance. CHIEF EXECUTIVE OFFICER, MA THEW RATTY Founder and Executive Chairman of Magentus (formerly Citadel Group, ASX:CGL) Extensive experience across global and Australian technology companies Holds several directorships in other companies, sporting organisations and charities NON-EXECUTIVE DIRECTOR, MARK McCONNELL• • • • • • • • • • • For personal use only
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Board With extensive technology and media sector experience, supporting USA growth and gaming/sports betting sector expansion Founded Sportbets.com.au in 2004, a real time odds affiliate platform (acquired by SportsBet in 2011) Founded Bets.com.au, a sports betting & racing tips portal (acquired in 2016) Since 2011, Mr Phillips has been a venture capitalist investing in early stage B2B software as a service (SaaS) technology companies MARC PHILLIPS Former AP AC managing partner of a global law firm Founded a growth advisory firm operating in the tech sector in 2018 Founder of/investor in/advisor to multiple technology companies Exit specialist advising on over US$20bn of M&A for listed and unlisted companies across US, Europe and APAC Several advisory board positions and not-for-profit roles ANDREW STOTT Previously Google - Head of Innovation, Customer Engineering Worked for Google from 2015 through 2024 in the Ads Data Platforms, Analytics and Google Cloud product areas across Australasia Before Google, Mr Thomson worked with Adobe across Asia-Pacific on digital strategy and digital transformation Previously worked for Telstra/Sensis as Development Manager, Digital Marketing and CTO of an Australian startup focused on personalisedvideo advertising for mobiles SCOTT THOMSON • • • • • • • • • • • • For personal use only
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Our success is thanks to our incredible staff, loyal customers, supportive investors and our active board of directors. We sincerely appreciate your ongoing support. For personal use only
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Mat Ratty Chief Executive Officer Investor.enquiry@adveritas.com.au George Gabriel, CF A Investor Relations gg@bletchleyparkcapital.com.au www.adveritas.com.au For personal use only